With less than a month of summer left in 2010, mn first time home buyers are starting to scramble to find their first house. Summer usually brings more homes on the market, which means buyers have more properties to choose from. However, this summer has been unique because of the $8,000 Federal Tax Credit that ended on April 30, 2010. A lot of buyers who would have waited until June, July and August actually made offer back in April, in order to qualify for the tax credit. During the first couple months of summer in Minnesota, we have seen very low sales numbers for first time home buyers because of the tax credit effect.
What that means is that while the inventory of homes is still high, the number of buyers has been low, creating a very nice buying environment for these first time homeowners.
Personally, I have been assisting 4 or 5 new home-buyers during the summer months and we have effectively had our “pick of the litter” when it comes to available homes.
So if you’re thinking about house hunting or moving in the next 3-6 months, you owe it to yourself to take a look at some properties now–because you might just find a the deal you’ve been waiting for.
