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MARKET THOUGHTS

Now is the Time! ...Jonathan Arnold’s Top 5 Reasons to List your Home for Sale Today

If you are like many homeowners you may have been a little nervous about listing your home for sale over the last few years. As a Loan Officer who has been in the business since 2001, I can understand your concerns. Banks on Wall Street have been bailed out, there is an overly proportioned number of foreclosed homes listed for sale, and you may think that your home has depreciated in value. Like many homeowners you are probably doing the smart thing and saying “I will just wait it out and sell when the time is right”. Well, guess what, the time is now!

With the Homebuyer Tax Credit being extended and expanded, the purchase market will be flush with not only first time homebuyers but homeowners who are looking to make a move. The Senate and the House already voted to pass a bill that will extend the tax credit for first time homebuyers and expand the tax credit to current homeowners. According to a recent study by the National Association of Realtors, it shows that first-time home buyers accounted for more than 45% of home sales during 2009. This is a large number of sales being attributed to the tax credit, and we are expecting an even greater increase for 2010. So you may still be asking “Why should I list my home for sale today”?

1. We have a market that is overflowing with buyers who now have a second chance to pull the trigger on a home purchase.

2. Every American who has owned their home for 5+ years can take advantage of up to a $6,500 tax credit if they have an accepted offer by April 30^th, 2010!
3. It will not be long before rates inflate again, we are still at a 40 year low. When rates increase it could be the difference of $850/month to $1,050/month on a $150,000 home price, so smart shoppers are buying now.
4. Many buyers have been looking at bare and dilapidated bank owned homes, imagine how delighted they will be at your open house when they realize that they can walk into a home that does not have a mile long  list of repairs.
5. With the benefits being so great, chances are you will be able to sell your home for a fair price, not under value.

If you want out of your current residence, now is the time to take advantage of the housing market. If you want to upgrade from your current residence, make a sound investment, or are just looking for something new, then now is the time to list your home. In the words of Jim Cramer from CNBC’s hit TV Show Mad Money “Sell, Sell, Sell!”

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