I’m working with a buyer right now who is sitting pretty.  He has owned his own home for the last six years, so when he buys he will be eligible for the $6,500 home buyer tax credit that is set to expire soon.  You have to be in a binding contract no later than April 30th and close by June 30th.

To make his options even better, we live in an area where the prices of homes have fallen drastically.  The floor plan he’s looking at sold two years ago for between $116,000 and $126,900.  Today he is considering the same exact home for … $75,000.

The price is unlikely to keep falling at this point – we are at the bottom in this instance.  However, he’s looking for a home based on convenience so this one fills those needs.  It’s close to the interstate and the attractions of our thriving metro area, it’s close to the school where he works, and it’s a townhouse so virtually maintenance free – a definite benefit for him since he doesn’t want to be bothered with mowing the lawn, weeding, or fixing gutters.

If you’re thinking about buying there truly has not been a better time than now if you want to take advantage of great prices and are eligible for the federal tax credit.

Photo by Gina Earheart and Melissa DeMeno of Reliant Realty, Nashville, TN.