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Real Estate Market on the Rise in Savannah, GA
The last year has seen the real estate market bounce back in a big way following the mortgage crisis. Whether you are looking to buy that dream home you’ve always wanted or if you are a first time buyer, right now remains an excellent time to buy.
There are several reasons now could be a great time to buy or sell your home.
More after the break.
First-Time Home Buyer Tax Credit
- Who is eligible to claim the tax credit?
First-time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner.
- What is the definition of a first-time home buyer? Read more
Now is the Time to Buy in Savannah, GA – Part 2
Now is the time to buy a house in Savannah, GA
There has been a lot of talk lately about the housing market being a “buyer’s market”. Just what is a buyer’s market? According to investorwords.com a buyer’s market is defined as: “A market which has more sellers than buyers. Low prices result from this excess of supply over demand. Also called soft market. Opposite of seller’s market.”
This is the basic definition of a buyer’s market and it is definitely holding true in today’s real estate market. However the buyer’s market that we are currently in goes beyond simple supply and demand. There are other factors that make our current market not only a buyer’s market, but possibly one of the best markets we have ever seen for buying a home.
Now is the Time to Buy in Savannah, GA
If you’ve followed the news with even a casual interest lately you know that one of the biggest stories is the current housing market. With home prices low, tax incentives plentiful and a multitude of properties on the market NOW is one of the best times in recent history to buy a home. There is no reason to keep paying rent when you can own your own home.
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