Long Island Real Estate Guru » Humor http://www.longislandrealestateguru.com Long Island Real Estate News Fri, 03 Sep 2010 19:53:00 +0000 en hourly 1 http://wordpress.org/?v=3.0 Real Estate Investors Still Waiting For Bottom http://www.longislandrealestateguru.com/2008/10/real-estate-investors-still-waiting-for-bottom/ http://www.longislandrealestateguru.com/2008/10/real-estate-investors-still-waiting-for-bottom/#comments Fri, 31 Oct 2008 16:33:49 +0000 Richard Halloran http://www.longislandrealestateguru.com/?p=217

I don’t know what the buyers are waiting for! Yes, prices are still declining in some sectors of the market but the depreciation is slowing.

Reasons for first time home buyers to buy now!

  1. Interest rates are low (as the fed cuts short term rates long term fixed rates (30 year rates usually go up). No one is expecting 30 year rates to go down!
  2. First time home buyer time tax credit (basiclly a $7500 interest free loan from the IRS) for more information take a look at http://www.federalhousingtaxcredit.com/ for additional details.
  3. Many homes to choose from and little competion from other buyers. When this market hits bottom it will be caused by more buyers in the market and less inventory. Buyers who are able to purchase now will be able to find the deals.
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