It is a GREAT Time to BUY! Why? All Real Estate Markets are LOCAL! Many Buyer's may have postponed their purchase beyond the December 2009, deadline for a Tax Credit due to second thoughts or fears of making a mistake. "Is now a wise time to purchase a home?" There may be other regions where second thoughts are needed or you may have them due to your personal finances, needing to take time to plan, but not due to the Real Estate Market in SWLA.
Pat Esswein, of Kiplinger.com on Dec. 16, 2009 explains how areas similar to Lake Charles have fared well during the past Housing Market Ups & Downs. It also explains in detail how Lake Charles ranked #3 in the Nation for having the most stable real estate market. I encourage you to review this report, (http://realestate.yahoo.com/promo/10housingmarkets-where-prices-have-gone-up.html), call Derenda Grubb- (337-310-2158) or your favorite CENTURY 21 Bessette agent for full details of the extremely positive report. Review the statistics that demonstrates what a wonderful community this area has proven to be throughout the past year and is predicted to hold during the foreseeable future. SWLA would be a great place to consider for your home purchase.
Why buy NOW? Tax Credits for First Time Home Buyers Program ($8,000) or Buyers who have lived in their home 5 years or more ($6,500) have an April 30, 2010 Deadline. The first deadline may have expired before you could take advantage of this benefit, but on the other hand, you may not have been eligible for the first program. It is now open to those who have been in their home for over 5 years and with other changes. The price limits of the homes and the salary limits have increased. Check with your lender, tax consultant, or give us a call for more details. The deadline for having your home under contract is approaching, April 30, 2010 and close no later than July 1, 2010.
Two strengths of the real estate market. Individuals who need to sell their present property prior to purchasing, will discover in this report that our area was one of the few communities experiencing a slight overall increase in housing prices of 4.5%. This will be helpful when considering the sale of their home prior to the purchase of the next home. Individuals purchasing their first home will be pleased to know that the experts predict a -0.5% change in home prices within the next year. The most important factor is that as a buyer, they are investing in an area that has held its property value during a time of extreme stress and is predicted to continue. SWLA is a Great Value and continues to increase daily.