*Interest rates are still at historic lows and the *inventory of homes is plentiful. More homes will come on the market in the month of January as sellers who have been waiting to get past the holiday season are ready to offer their home for sale.
*There are less buyers in the market now than there will be in the Spring, the traditionally most active time of the year. So there is less competition for the home you may want.
*The home buyers tax credit will end April 30th. Offers must be accepted by that date, and closings must take place no later than June 30th. 1st time buyers receive a credit of $8500, and 2nd, 3rd, 4th time buyers will receive $6500 tax credits. Click here to check on the criteria for qualifying.
*Winter is an excellent time to check on the energy efficiency of homes. Feel the areas around doors and windows to see if air flow is noticeable. Does the home seem well constructed? Look at the roof if there is snow to see if the snow is melting evenly. An area that is melting much faster than others may indicate a lack of insulation. Heat is escaping in that area.
Homes are more completely tested during weather extremes. An inspection on the home you choose will be even more beneficial in revealing areas that need improvement.
*Interest rates are at historic lows. During the last 6 months of 2010, rates are expected to increase again. By buying now, you may save significantly on your monthly payment. Even an extra $200 savings a month equals $2400/year and $72,000 over 30 years, the life of the loan.
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