Provo

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Going into the winter season has never looked better for the housing market.  Sales are up 36 % this October over Oct 2008!  Besides all the Short Sales and Bank Owned Properties and sellers finally realizing that they have to be competitive in this Crazy Market–the interest rates are hanging around 4.75% which is phenomenal for first time home buyers and also repeat buyers.  The $8000 tax incentive and the $6500 repeat home buyer incentive (if you have owned your home for at least 5 years) also make it a GREAT time to be looking at purchasing a home. 

Winter Seasonal purchases are  notoriously a bargain time to shop for a home, because homeowners are usually motivated this time of year and also usually they have been on the market through the peak season of summer and early fall and are now ready to drop their price in order to sell and move on with their lives.  Also from the seller’s point of view, the buyers that are out there searching through the cold snowy weather are not just looking for the fun of it.  They are seriously looking, which makes for motivation on both sides.  A winning combination!

I have excellent loan advice from our in-House Mortgage Xpress if you think you may be in the market to buy.  If you feel that you may be needing to get a Loan Modification please check out the link I have added for Mortgage Xpress explaining what is happening today with the Governments push for Loan Modifications.  Hope this information is helpful!  That’s what I do!  I’m your Running Realtor–doing all the running around so you won’t have to!

The deadline to close a purchase on a home in Provo or anywhere is November 30, 2009!  You still have time!  Yes the housing market has been generally sluggish–but that means that there are GREAT deals out there expecially for the first time home buyer.  And if you hurry you may still be able to cash in on the extra $4000 that is being offered for New Construction or at least never been lived in housing that has  an extra incentive provided by our Governor for the Provo and Wasatch front housing market. 

In order to get the  $8000 credit up front you have to do a Utah Housing loan and have your 2008 taxes redone, but  the difference between being able to afford a home or not would be worth the effort.  I can recommend a great lender who knows all the ins and outs getting the credit and a great loan.  The purchase prices are down about 23 % over a year ago and prices may never be better!  With the fall colors and wonderful weather and eager sellers anticipating a long cold winter–now is the perfect time to hurry and find the perfect first home! Actually it doesn’t have to be your first home.  If you have not owned a home for 3 years– You may still qualify for the first home purchase category.  

So if you have any questions on the housing market in Provo or anywhere in the Utah County area– please don’t hesitate to add your question on the side or ask for a list of homes in your area.  A list could be just moments away and you could be 45 days away from the steal of the century on a great first time purchase at one of the lowest interest rates in history!