First Time Buyers Save Tons of Cash in 2009.
Category: Real Estate Trends
Published: Monday, December 15, 2008
If you are a first time buyer and you plan to purchase a bank owned home in Murrieta here are two reasons you will save more money in 2009. Home prices in Murrieta continue to drop. And as we, approach the end of the fourth quarter there does not appear to be an end in sight. First time buyers all over Southern California are enjoying much more home for their dollar. As the New Year draws near, the median home price will continue to decline, making this the perfect time for first time buyers to start shopping for a home. It has been predicted that we will reach the "bottom" in the second quarter of the year. Buyers who act now will actually save more money on their purchases, than those whom purchases months prior.
In addition to purchasing foreclosed property in Murrieta at substantially low sales prices, first time buyers can also expect to enjoy a $7500 tax credit thanks to the Housing Stimulus signed by President Bush. There are a few stipulations however. First, the home must be purchased before July of 2009. In addition, the home must be the primary residence. In addition to the $7500 credit, persons filing a standard deduction can see additional tax credits; $500 for individuals and $1000 for couples. Please consult a tax professional for details.
Buying your first home can be both exciting and overwhelming, especially if you want to buy foreclosure in Murrieta. Finding the right agent is important. Oak Tree Realty Group has been an industry leader and has helped numerous first time buyers locate property that fits their needs. The agents at Oak Tree Realty have a wealth of experience in the area of bank owned property in Murrieta and can help you make a smart purchase.
Take a moment to browse through their inventory of Murrieta foreclosures and then call to set up at showing or ask a question at 951-973-7177.
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