So, your family has lived and loved your cute and cozy 1960’s rambler for a few years now. It was perfect for a young, just married couple when you bought it. The bedrooms were on the small side but there was room to grow and it worked perfectly when there were just two of you. Then came the puppy who grew into a huge licking Labrador. And later one baby, then two. Now suddenly 1500 square feet is overrun with chew toys, Little Tikes and Duplos. That cozy little starter home is now cramping your lifestyle. But with the flux in the real estate market, can you afford to move? In many cases, YES!
If the scenario above describes your situation, listen up. You could now be ELIGIBLE for the HOMEBUYERS TAX CREDIT. Yep it is not just for first time buyers anymore! Additionally, you can benefit from the situation that the first time buyer credit has created. The first time buyer tax credit has affected the starter home market in a very positive way. In the north metro areas including Lino Lakes, Blaine, Ham Lake, White Bear and Forest Lake, people are scrambling to find good starter homes for first time buyers prior to the expiration of the first time home credit. Many well priced, single family homes are seeing multiple offers within days of hitting the Twin Cities MLS. The demand for single family homes under $150K is the highest it has been in the past few years.
And better still, there is an amazing selection of homes in the move up category to select from. Historically, if a single family home was sold, that owner had to buy another home creating a chain effect into all different price points. But today’s real estate market offers a unique opportunity as many of the homes being purchased are bank-owned. No one is buying home on the other end. So there move up buyers are seeing a better selection of inventory in the higher price points at great prices.
So why move now? To take advantage of the tax credit, buyers must write up an offer for their new home by April 30, 2010. When the incentive is over, the demand for homes could level off a bit. So listing your home THIS winter could make sense as there is a significant demand for starter homes NOW while the deadline for the expiring tax credit is on the horizon.
Are you ready to take advantage of this perfect opportunity to purchase a larger home for your growing family? As a local north metro real estate specialist I can help you assess your current situation and see if is the right time for your family to make a move up!
Note: A special thank you to author and illustrator Elizabeth O. Dulemba for allowing me to use her copyrighted family coloring page as art for my post. If you would like to see more of her coloring pages or her full color art for the children’s books she writes and illustrates, visit her website and blog at www.dulemba.com
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet , Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in.JPG)
acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
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