As industry analysts are watching markets on the east coast of the United States begin a slow recovery, the Tooele market is perfect for someone wanting to buy a new home. Tooele home prices have come down so there are many affordable homes and you get more bang for your buck. The interest rates have dipped below 5% for a 30-year fixed mortgage, and the government is offering various incentives to help people become home owners.
Through November 30, 2009, there is still the federal income tax credit of $8000 available to first time home buyers. A first time home buyer is anyone who has not owned a home in the past 3 years. The State of Utah is offering another $4000 grant for anyone who purchases a brand new home (never been occupied before). This grant is available on a first come, first served basis, and when they are gone…well they are gone.
With the average days on market remaining high, there are many homes to choose from and soon the inventory will begin to decrease, so NOW is definitely the time to look into home ownership. No one will know when we have “hit the bottom” price wise until the prices begin to rise again, and by that time there will be fewer homes to choose from.
There is still time to purchase a home before the federal tax credit disappears, so if you are interested, please contact me asap so we can find you your own piece of the American dream…your very own home.