Edwardsville IL Homes for Sale and Real Estate

Don’t Wait-Only 138 Days to Claim Your Share of the Tax Credit

HEY FIRST-TIME HOMEBUYERS IN MADISON COUNTY, ILLINOIS...sorry, I don't mean to shout but this is important.

My friend just put the following timetable together for undecided buyers in her part of the country and I thought it might help you too.

Don't let this opportunity to put the $8000 tax credit to work for you. If you want to buy this year in Edwardsville, Glen Carbon, Maryville, Collinsville or anywhere in St. Louis' Illinois suburbs, you're running out of time to find the house of your dreams and get the deal put together successfully.

Visit http://www.JustDuckyHomes.com to begin your home search today. Time's a wasting.

Don't Wait To Start Your House HuntThe rush is on.  The deadline for purchasing a home using the $8000 tax credit is November 30, 2009.   You might be surprised to find out how quickly the remaining days left to take advantage of the "free" money from the government will click away.

Let's take a look at how you might use up your time remaining.

Before you even head out the door to look at houses you need to have made contact with a lender and start the pre-approval process.  The further you get along in this process before you get in a car to look at a home the better.  For timing we will say that this process will take you a week because you are super organized and have all of the documents on hand that your lender needs.  (7 Days Gone)

Now you are ready to actually head out and look.  With lower inventory (below $250,000) than a year ago, it would be realistic to think that it will take you 30 days to find a house.   Then there is the contract ratification process.  If you are lucky and you have focused on seller owned properties you may be able to get a ratified within 7 days.  (37 Days Gone)

With the new appraisal rules (HVCC) and the new lender rules (HERA) going into effect you can expect that getting your final loan approval will be 30-45 days.  For our calendar we will take the longest number just to be safe. (45 days Gone).

How are we doing so far?  Looks like we have knocked 89 days off the calendar leaving 49 days left until the deadline.  Whew looks like you have plenty of time to get this done.

Wait we forgot to add in the days that FHA is going to require for a second appraisal (it is happening more and more) or the processing time at the settlement company.  So let's pad those 89 days with an extra 7 to be on the safe side.  Now we have taken a total 96 days off the calendar.  Leaving you 42 days to move in and enjoy your new home. 

If you take longer to find a home, if the lender takes longer to approve your loan or you think you want to buy a short sale....then you may have waited to long!

Are you still thinking about whether the market might decline a bit more making your dream home just a bit more affordable?  Or are you waiting for the interest rates to come down to 4.5% again?   If you are then every day you wait is one less day that you have to deal with any issues in your schedule.  If you are serious about buying a new home this year and are eligible for the $8000 tax credit then time is of the essence.  Don't sit on the fence much longer or you may find yourself looking at the calendar on December 1st and wondering what you were waiting for.

Enjoy life in the (618) area code in Southwestern Illinois, St. Louis' Illinois suburbs. SEARCH FOR HOMES HERE.



I help good people buy and sell good homes in St. Louis' Illinois suburbs, with special emphasis on the Metro East communities of Edwardsville, Glen Carbon, Maryville, Collinsville, Troy and surrounding areas in Madison County, Illinois.

Are you a teacher, firefighter, law enforcement officer, medical professional or active duty or retired military? Then ask me about Homes for Heroes, offering substantial savings on home purchases. Learn more at Homes For Heroes.

For more information or to search for homes, visit my sites at NancyMilton.com618Life.com, or GoshenRealtyGroup.com or send an email to me at Nancy@GoshenRealtyGroup.com. Text or call Nancy Milton Holtzscher, your Edwardsville Realtor, at 618-791-8007 any time.

REMAX Preferred Partners is located at One 157 Center, Edwardsville, IL 62025, 618-791-8007 (direct) 618-655-1188 (office). We're easy to find on IL-157 in Edwardsville between Pasta House Co. and Shenanigans. Each office is independently owned and operated.

Comment balloon 0 commentsNancy Milton Holtzscher • July 15 2009 03:15PM
Don’t Wait-Only 138 Days to Claim Your Share of the Tax Credit
HEY FIRST-TIME HOMEBUYERS IN MADISON COUNTY, ILLINOIS… sorry, I don't mean to shout but this is important. My friend just put the following timetable together for undecided buyers in her part of the country and I thought it might help… more
Edwardsville, Illinois Real Estate Market Update
Thirty-three home sales closed in June 2009 in Edwardsville, Illinois. Thirty of those properties sold were existing homes and just three were new construction. Sales showed a surprising dip from a high of 39 sold in May. The existing… more
As a child of the 1950's (LATE 50's thank you very much), I was imprinted from birth with certain home design aesthetics that might not be as appreciated by a mass market today. Our family's first house, was the hip of heights for its time… more
Glen Carbon, Illinois Named Among Best Places to Live by Money…
We knew it all along, of course, but it's nice to hear someone else say it: Glen Carbon Illinois has been named among Money Magazine's Top 100 Places to Live. The publication's researchers fanned out across the country this year to find… more
Get Thee To a Storage Unit
One of the best real estate sales weapons in our arsenal at Just Ducky Homes is the common suburban Storage Unit. It's amazing how much clutter can accumulate in a home over the years. Before you know it, you and your family are outnumbered… more
8000 Reasons Get Your Butt In Gear: Deadline for First Time Homebuyer…
Wow! We came across this blog post and we couldn't have said it any better ourselves. If you want to buy your first home in Edwardsville, Glen Carbon, Maryville, Troy, Collinsville or anywhere else throughout Madison County, Illinois, read… more
The Case Of The Disappearing REALTOR®
Sounds like the title to a tantalizing new mystery book, doesn't it? A book like that might be chock full of suspense with the characters experiencing emotions ranging from confusion to frustration and a maybe even a dash of irritation. Too… more
Attention Edwardsville Home Buyers - Coffee Consultations at Sacred…
Maybe you're thinking of buying your first home to take advantage of the first-time buyer tax credit. Or perhaps you've outgrown your current home or need to downsize. There are any number of reasons why you might be buying a new home. If you're… more
Edwardsville, IL Real Estate Market Update
It's the question I'm asked most often: Nancy, How's the market doing? So, let's take a look at figures for May 2009 in the top southwestern Illinois markets we work. This post covers Edwardsville, Illinois -- the 62025 zip code. … more
Shop For a Good Agent Before You Shop For a Home
Dear Buyer: It's time for a little straight talk about real estate. If you seriously want to buy your first home this year to take advantage of the $8, 000 first-time homebuyer tax credit, low interest rates and the great selection of… more