Jacksonville Real Estate

Is the latest tax credit getting you in the buying mode? If you are looking for a home now you must have an accepted contract by April 30, 2010 and close by June 30, 2010. It is taking longer to close loans now. The days of 15-30 days closing have passed. With the new laws on disclosures and just the double and triple checks on employment and income are enough to delay the process. Buyers, make sure you have everything in order. Go online and check your credit yourself, it doesn't hurt your credit score, even if you look every month. Get a reputable banker or broker. Just because you have heard brokers are bad doesn't mean they all are. Most important you should be checking your interest rate and how much that lender is charging you for the loan. Most of your closing costs are loan related. Get pre qulaified, find a realtor ( it doesn't cost you) and find your home.

When is it time to buy?

Well, when YOU are ready. When you have been qualified by a lender, have saved your down payment (which can be as little as 3 1/2%), and have found the home. If you are ready to buy now well then you are just ahead of everyone else. With interest rates and home prices as low as they are now, you have positioned yourself for equity in the future. If you are trying to time the market, you will miss it and might find yourself with a higher interest rate or paying the same price and getting less. Then you might find yourself with your head in a pillow screaming WHY WHY WHY didn't I BUY BUY BUY!!