The month of April does more than bring spring showers for May flowers.

In fact, according to many experts in the real estate industry, April is also the ideal time to purchase a home.  Thanks to the Home Buyer Credit, low housing costs and low interest rates, you could even say that April offers the perfect real estate storm for those who are thinking about buying.

For many, the biggest reason to purchase a home in April is the fact that the Home Buyer Credit is coming to an end. Although the credit has been extended through June, there is a catch: buyers have to sign a contract by the end of April in order to take advantage of the credit.

Regardless of the cost of the home, buyers are set to save quite a bit of money when they qualify for the program as they can receive up to $8,000 worth of credits depending upon the cost of the home.

The fact that home prices have been steadily falling in most housing markets provides another reason to purchase a home in April.

While no one knows for certain when prices will hit rock bottom, most experts agree that April will be the month with the lowest prices in most markets. Therefore, those who wait until after April to make a purchase will likely find themselves paying more for the same house that they could have purchased in April.

The final piece to the perfect real estate storm involves the interest rates on long-term mortgage loans.

For several months now, the interest rate on long-term mortgage interest rates has hovered around 5%. In fact, for several weeks, the rate was below the 5% mark.

The Feds have recently put an end to the mortgage backed securities that helped make these rates possible, however, which means the rates will soon be going back up.

According to most experts, the interest rates on long-term mortgage loans will likely reach 6% by the end of the year.

While no one should purchase a home if they are not financially prepared to handle the responsibility, those who are ready to purchase a home should seriously consider making that purchase in April.

Thanks to the Home Buyer Credit, the low housing costs and low interest rates on long-term mortgage loans, waiting beyond the month of April could be a costly mistake resulting in a loss of tens of thousands of dollars over the lifetime of the loan.

Owners, put my technology to work for you.  If you are interested in selling your home or condo, contact me today (850) 774-6582 for a free no obligation Home value report.

Buyers, when you’re ready to purchase a Panama City Beach Gulf or Bay front condo for your vacation home, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City Beach homes sale.

Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida

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