Friday, April 16, 2010

14 days left to get in on the Tax incentives to purchase a home

Today is April 16, 2010. There are only 14 days left to take advantage of the tax credit for purchasing a home. There is no talk about extending this credit at this time! You don't have to be a first time home buyer to take advantage of this!!! You can get a $6500.00 tax credit by purchasing a home and $8000.00 credit for a first time home buyer. You must be under contract by the end of April and close before June 30 2010. You don't have to have your present home sold to qualify for this. If you are thinking about selling your home, GET IT ON THE MARKET NOW!! We don't know how the market will act, when this incentive ends. Overall the market is moving. The low end is showing a lot of movement. Prices are not starting to go up yet. We are starting to see more movement in the upper price ranges over $300,000.00. Forbes recently printed an article about Bay Village having a 32% increase in value. Unfortunately while I'd like to believe this to be true, I have to dispute the math here. I live in Bay Village so I really would like this to be true. Forbes magazine used median price ranges to compare averages. Well Bay Village has Lakefronts. A few of those Lakefronts sold. Lakefronts in Bay Village sell anywhere from the very low end of $400,000.00 to 3 million. Forbes states that the average priced home in Bay Village is $250,000.00. You can see why a few sales on the Lakefront can have a dramatic affect on the median price range.So the increase is not 32%. If it was, I would be selling my house today! If you are looking for real facts in the Cleveland Real Estate market call me I will not mislead you!

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