Do you know a first time home buyer? Help spread the word.
What a great time to buy a house. For anyone who is waiting for the “planets to align” to finally make the move forward and purchase a home, that time is now! An unbeatable combination: low prices AND low interest rates (for those that haven’t seen lately, typical 30-year fixed recently have been in the fours.)
For first-time home buyers, planets and the moon and the stars are aligning. Not only are prices and interest rates low, the government is also going to potentially give you money back if you buy a home with the first-time home buyer tax credit!
AND starting April 2, through the C.A.R. Housing Affordability Fund Mortgage Protection Program, first-time home buyers in California who lose their jobs because of layoffs may be eligible to receive up to $1,500 per month for up to six months to help make their mortgage payments.
Oh, AND if you buy a brand new (never-been-lived-in home) in California you may qualify for a $10,000 tax credit as well!
I hear you asking, “But what if we haven’t hit the bottom yet? Shouldn’t I wait?”
Well, my crystal ball has never worked (or I probably would have gotten a more secure job before all this market mess happened) and yes, there is the chance that prices and interest rates could go lower, but this is what I know: historical trends show us that this fall in prices shall eventually cease and property will appreciate once again; historical trends and financial gurus tell us that interest rates won’t be low forever; and finally, if you are buying a home to live in, won’t you be in it for a long time? Real estate has always proven to be a good long-term investment.
Be sure to consult your real estate agent and/or tax adviser for the details on the programs mentioned above and to find out if you qualify.
Please help pass along the word to all the first-time home buyers out there. And happy house hunting!!
Lara Wells Osborn is a Redding native. After traveling and working around the world she has returned to Redding with her husband and three children. She is a real estate agent with Coldwell Banker Westside. She can be reached at 530-276-3026 or by email at laraosborn@ccproperties.com.
