Realty World – Success Plans, Inc.

Great news!! Congress has finally approved a extension for those of you who have been in escrow since April 30th.

You’re renting now and your lease is about to expire, do you want to stay for another year or do you think you might want to take advantage of the best buying opportunity since 1968? Well before you make a decision to purchase, there are a few things to consider before you start shopping. Once you understand what’s involved, you will feel better about making a decision to pursue the “Great American Dream of Home-ownership”.
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Even though the federal  tax credit may not make a come back, there are lots of reasons why it is still a great time to purchase a property. 
One of the most important factor that affects most buyers is interest rates.  As the rate gets higher, the amount of money a person can qualify for would be less. Interest rates have been really low historically speaking and with the problems we are facing today, the rates will go back up.  I don’t think interest rates will ever be lower then what they are today.  30 years ago, I thought I would never see rates as low as they are today.  We could see rates as high as 18%, just like it was in 1981, or even more.
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Interest Rates Fall on Surprise Drop in Home Sales  abcnews.go.com)

With the passing of the health care bill, there may be some unforeseen problems brewing. It would be a good idea to try and think of ways to make sure you’re going to be financially stable when 2014 comes around. If the budget for the program is more then projected, it will likely lead to higher interest rates. peninsula
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Today’s OpEds: Democrats Can Win With Health Care; States And Medicaid; Rep. Herger On The Cost Of Health Reform medicalnewstoday.com)
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Health Reform Will Impact Existing Plans More Than Promised  time.com)

Are you going to make the June 30th deadline? Hopefully you will since it’s been a stressful process. If you don’t make it, then let’s hope that Congress votes to extend the deadline 3 more months.  The Senate has approved the extension because of the enormous back log of sales and now it time for Congress to consider the extension.
According to Vicki Cox Golder, president of the National Association of Realtors, said the extension was a matter of fairness.
“These are not buyers who just entered into the market. These are buyers who previously met all the qualifications for the tax credit, but find themselves at the mercy of a work-flow jam with the lenders or other delays and might not be able to complete the purchase of their homes.”
I think it’s the right thing to do, especally since it’s not the buyer’s fault for not meeting the deadline.
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Senate votes to extend home tax credit deadline reuters.com)
UPDATE 1-Senate votes to extend US home tax credit deadline reuters.com)
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Homebuyers could get more time for tax credit money.cnn.com)