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Attention Brainerd Lakes Buyers


The deadline to qualify for the $800 First Time Home Buyer Tax Credit is fast approaching. There are about 4 weeks left to beat the clock by finding and closing on a property before the Nov. 30 deadline. The key is that the property needs to be closed by November 30th.

The $8,000 tax credit has proven to be extremely popular. Indeed, a total of 10.8 percent of buyer’s today say that this and relevant state incentives is the most important reason motivating them to buy, according to REALTOR.com®’s July Homeownership Survey. Already, about 1.14 million buyers have filed for the $8,000 first-time tax credit. A host of additional buyers will likely file paperwork to qualify for the credit come tax time in 2010 as well.

A key driver for first-time home buyers today is the high affordability of properties throughout the country. In July, the National Association of REALTOR®’s (NAR’s) affordability index was 36 percent higher than in July 2008. The typical median-income family can use 15.8 percent of their gross income for mortgage payments, which is significantly less than the traditional allocation of 25 percent. In addition to high affordability, low interest rates are another driver to buy. In July, rates were at 5.22 percent for a 30-year fixed rate loan.

If you are not currently signed with an agent and are still looking for properties to buy and close before the deadline contact:

Kathleen Lordbock at ResaleDesign@gmail.com

Not a first time homebuyer but your property is not selling? Ready to try something different? Want something more than a sign in the yard? Want to know how to make your property show well? And sell quickly?

Kathleen Lordbock

REALTOR/Staging Specialist

Keller Williams Realty Brainerd Lakes

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