First time homebuyers need to act in order to claim “First Time Home Buyer Tax Credit”. The market is governed these days by either foreclosures or short sales. With prices being influenced by these stressed properties few if any homes are available on traditional listings. What results is the necessity to negotiate with banks for approvals. This process is riddled with problems and leads to frustrated buyers. It is not uncommon to bid above asking price, wait a month for a response then find out that they have lost to a cash buyer offering less money. The first time buyer is even more susceptible since their financing is leveraged and generally less secure. For those still looking for the perfect Fort Myers FL home and a tax credit, perseverance and a little luck are going to be needed. If you fall into this category I encourage you to act without delay. This tax credit is unprecedented and I am convinced that many people that are counting on it will be disappointed when time runs out before the purchase is completed.
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Rarely will you see comments here regarding politics but this is one instance that I must speak out. Today marks the day that the “first time home buyer tax credit” was extended and indeed expanded to include current home owners and our politicians deserve thanks. It is no secret that this area has been pummeled by the melt down of the housing market. I saw the previous credit give the industry a shot in the arm and watched in fear as the end of it approached. Fort Myers FL homes have never been more affordable and combined with this credit, first time home buyers are foolish not to act. Indeed, as a result they have not just been a part of the market; they have been the entire market. Current home owners have seen their equity dry up and very few are bold enough to take on more debt in such uncertainty. The extension of this credit is going to give retirees the incentive they need to act. The credit is obviously not something that can go on forever but truly what is needed here and now. I commend them.
Finding the perfect Fort Myers FL Home can be a difficult task. After all none of us have unlimited budgets and unlimited resources for finding that home. We come into the process at a particular time and work with the resources at our disposal to maximize our opportunity.
I suggest that the better you prepare the better you will fare in the end. Take the time to list your priorities. They can be as varied as the day is long. No two people value the same thing. For one person the golf course is the first consideration and then come home attributes. For another the school district is first and for yet another the home itself is priority number one.
The more clearly you define your priorities to your agent the more enjoyable your experience will be and the better your chances for landing the perfect home. Obviously part of the process is seeing homes first hand and reconciling our desires with reality. If your criteria are well defined you can quickly adjust to market realities. We have all seen the home 15 feet from the freeway and wondered why anyone would buy that home. The answer is that a price was put on that negative asset and the home was discounted to a point where it provided value to the purchaser. This is an extreme case but every home buyer goes through the same process. Perhaps the counters are not granite or the closet is not as large as we would like.
In the end the home must meet as many criteria as possible while still meeting your budget constraints. I believe that a home is what we make of it. Find the best home you can then make it your own and you will have many years of fond memories.