Troy’s Crib Sheet for

Buyers and Sellers of Real Estate in 2010

• The Homebuyer Tax Credit expires probably for the last time at the end of June yet one must be in contract to buy/sell by April 30^th. For buyers, it is $8000 to offset a down payment and/or closing costs as well as provide funds for improvements and/or appliances. For sellers, this credit increases the pool of potential buyers to purchase your property, and it also extends $6500 to purchase a next home. Wow, what a deal!
• The “Shadow Inventory” you probably heard about on the news is about to hit the market. The Shadow Inventory to which I refer involves the surplus of foreclosed inventory that banks have on their books. For buyers, these properties potentially offer great deals and more choices. For sellers, these bank-owned properties continue to present tough competition yet also pose great opportunities for purchasing after selling. This surge will most likely begin in March/April though could start this month.
• Interest Rates are projected to rise this year and lenders may get tighter with their money. A rise in interest rates is only natural and good for the economy yet will most likely not occur until the end of the year after midterm elections. As for tighter money, this forecast is merely based upon the expiration of the federal government purchasing mortgage-backed securities in April, potentially leaving banks with less to disperse (over-simplified version).

It really is an historic year of opportunities, opportunities that may not appear again for a long time. It took over a half of a century for this one to manifest! So buyers and sellers of 2010, I suggest you act soon toward getting your game plan together. Your next step is to give me a call so the strategizing can begin!

Here’s to a prosperous 2010! Oh and check out my awesome new company website!

Troy Wilkerson, ABR

EXIT Realty Advantage

503-484-7817   

troysellshouses@yahoo.com

www.exitportland.net

Serving Oregon and Washington!