Hi All.
Please see this link for up to date info on extending the first time homebuyer tax credit. It’s not a done deal, but it looks promising. The proposed legislation would include repeat buyers, and this addition will surely result in better housing stock to choose from (Ask any realtor, and they will tell you about the shallow pool of good housing stock out there, especially in the 100-200 range in Clarke and Oconee Counties). I also think this means the traditional buying season will open earlier, so to speak, since the deadlines say you must be under contract by April 30th and closed no later than June 30th. Yikes!
The buying season in Athens, GA regional area typically really gets cranking in February, so in this case you may want to start your hunt during the holidays or at least use the holidays to get your financing ducks in a row. Make a plan. Be ready to pounce when the right house comes along because if you found it, so did four other buyers just like you. We might even see an attendant modest bump in home prices along the way. I am guessing a slew of listings will hit early Jan instead of February or March. Let’s hope the interest rates continue to hold low.
If you are selling a home in the Athens, GA area, get your home ready right now. Don’t wait. Don’t know what to do to get started? Contact a realtor to help you figure things out. He/She should be able to give you an indication of potential sale ranges if you a) do nothing to your house b) do a little to your house c) do a lot to your house. If you end up deciding to do more extensive work like replacing that aging roof or HVAC system and water heater, you will need that time as well. I will post later this week about the things that really help an older home sell in this area.
