April 28, 2010 at 04:42 PM · Posted under Essam Elsafy
The homebuyer tax credit expires but don’t let it take you out of the real estate market.
The real estate market has been buzzing the past couple months as qualifying first-time and move-up buyers rush to take advantage of the homebuyer tax credit. The tax credit, amazingly low interest rates, and attractive home prices made it a historically magical opportunity to buy a home. If you took the plunge and made a savvy buy…congratulations! You will look back in several years and be proud of your smart decision making.
But what if you didn’t buy a home before the April 30, 2010 accepted offer deadline? Should you stop looking to buy? Heavens no! Of course you no longer qualify for the tax credit, but the decision to buy a home remains one of the smartest financial decisions you can make. The conditions are still heavily in your favor.
Interest rates remain below 5 ½ % for most buyers with good credit, prices are very attractive, and sellers are far more open minded about offers. This remains a classic “buy low” real estate opportunity. My advice to you is:
- So stay in the game
- Work with a knowledgeable Realtor
- Find the right home
…..and position yourself now to capture great appreciation in the future.
Email me for my list of “Best Buys” on the North Shore of Milwaukee.
Posted by: 
Essam Elsafy
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May 05, 2009 at 04:16 PM
Everywhere I go people ask me what do I think of today’s real estate market and are we in a major downturn?
My answer is the real estate market today is challenging in many ways but there is so much to offer. Our media seems to like to stress on the negative in the world. So that spins off to our 
population and people begin to panic. We currently see this evidence with panic and the swine flu. People act as if the world were ending.
Please take a breath and look around at all the positive. If you are a buyer today there is so much to offer. Low rates and the supply and demand of housing are in the buyer’s court. This means there are more homes for sale than buyers and this makes prices negotiable. When I purchased my first home my husband and I had a loan of 12% interest and we thought that was great because it was not 18%!! Today it is 5% and under. Also if you are a first time home buyer the government will give you a tax credit of $8,000 if you buy a house before December 1, 2009. The challenge for me as a real estate agent is to teach this information to buyers and question why so many buyers are not moving on these advantages. Why rent and give your money to someone else? Isn’t one of the American Dreams to own your own home?
Another challenging thing is “where are the investors?” I remember in a hot market investors had to out bid one another than they would complain that they had to pay more than the property takes in. Why are they not buying today?
I am totally aware and sympathetic that we are in a tougher economy and many people have lost their jobs, money is tighter, and banks are tougher. But I believe we are going to get through this time. We have in the past. So I believe the buyers who can afford a home or investment today should take advantage of what there is too offer. Because I believe things will turn around and houses prices will go up and the supply will get smaller and than Sellers will be in control. Keep in mind we should support our communities by going to their stores so the communities strive. If we continue buying properties we are helping our economy go forward.
I truly believer in the American Dream and real estate is one of the safest places to invest your money
Posted by:
Piera Dyer
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