It's the Worst of Times...It's the Best of Times

It's the worst of times (sellers). It's the best of times (buyers).

But, one thing is for sure. It will not be like this forever.

Buyers! Did you know the buyer tax credit for a potential of $8000 runs out in April? You must be under contract to purchase a home by then, and then it must close by 6/30/2010. Did you know interest rates are still at historicial lows, usually around 5%?

Sellers ask me "why should I even try to sell right now? Shouldn't I wait till Summer? Maybe the market will pick up then".

Well, let's take a look at that.

Elyce Glink, host of "Expert Real Estate Tips," an Internet video show, and many other real estate experts expect foreclosures to flood the market in the near future as interest rates adjust. Believe it or not, housing inventory  is down considerably, compared to this time last year. Why wait to be competitive with the many foreclosures expected to enter the market this year? If you have a home that has been well maintained and shows well, buyers are thirsting to see "nice homes", not just foreclosures.

And, Sellers, it's not just "first time home buyers" who may qualify for a tax credit. If you have been in your home for five of the last eight years, you may qualify for up to $6500 tax credit too. Again, the interest rates are phenomenal. Purchasing a home this time next year could quite possible be 2-3 points higher as inflation sets in, as many economic experts predict.  

With "motivated buyers" on the prowl, lower inventory for buyers to choose from, and outstanding interest rates, it looks like a perfect time to sell. It may be as good as it gets for the Seller of 2010. Don't miss this opportunity!