The $8,000 tax credit has been going for this year and at the beginning of the year it had little affect on the housing market. We were getting offers that were consistently $20-30,000 under list price on first time home buyer homes.
When April and May hit, more first time home buyers started buying homes and list to sales prices started coming closer together. The past month the number of first time home buyers has steadied; however, inquiries from first time home buyers have drmatically increased.
Now I'm seeing multiple offers on homes and first time buyers are starting to get it. It may be too late to buy short sales and foreclosures and the competition for good deals is increasing daily.
The first time home buyer tax credit ends in November and by waiting to buy a home the last minute first time home buyers may miss the tax credit closing deadline, loose the great deal or loose the great interest rate. With most homes in Kansas City taking 30-60 days to close, most first time home buyers have around 30 days to find a home in Kansas City.
To search for first time home buyer homes in Kansas City, go to: Search Kansas City First Time Home Buyer Homes.
Dowell Taggart Team of Re/Max Best Associates - Anybody can put a sign in the yard. It is the Realtor who makes the difference!