It’s time again for that annual right of passage when we all file our income taxes. It’s predicted that almost 70% of taxpayers will get a refund this year. That means over the next 60 days about $230 billion in tax refunds will start hitting households in our area. It seems appropriate this week we would discuss a few ways to leverage this annual phenomena to help you buy a new home.

Timing is everything: It’s a buyer’s market out there. Prices are the lowest levels we’ve seen in some time.The supply currently exceeds demand so there is a lot of inventory available giving a buyer a vast array of selections to choose. Couple that with my incredibly low interest rates and you have a winning combination. But wait - there’s more. If you act quickly and sign a contract as late as April 30th, 2010 first time buyers can receive up to  $8,000 and move up buyers can still take advantage of up to $6,500, if you meet the qualifying criteria. 

Current Home Owners: It’s easy to watch the news and believe that real estate has screeched to a halt, but that simply isn’t the case. Now’s the perfect time to take advantage of tax credits for moving-up, refinancing with lower interest rates or buying that 2nd home or investment property you have always talked about. Even if you want to buy in another area - you can place a referral with Coldwell Banker’s relocation department and trust you will be taken care of like family.

Renters: A lot of people who rent simply don’t know they can buy. I still have programs with low to no down payment options and programs for people with credit scores as low as 600. In case you were curious, myfico.com reports only 15% of Americans have a score below 600. I would be happy to work with you to show you the difference between renting and buying and how you could leverage your tax refund.

So if you are a first-time home buyer, the move-up market, or second home & investment property leverage your tax refund- there’s no time like now to buy. Contact me to become pre-approved and lock in your interest rate before you start to shop for a home.