Real Estate Information Archive


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The Tax Credit up to $8,000

by The Worrell Group

You may have heard by now that Congress passed and the President signed legislation that will be of great benefit to those qualified First Time buyers or buyers that have not owned a home over the past 3 years.

Qualified buyers must purchase and close on a property before December 1, 2009.  The Tax Credit will be based on 10% of the sales price, up to $8,000.  There are income limits and other restrictions attached this this Tax Credit.  This is a true Tax Credit, so if your income taxes don't equal the amount you qualify for, you will receive a check back from the government.

If you know of anyone that is considering a purchase this year, make sure they give me a call or email.

Should I Buy a Home Now?

by The Worrell Group

I’m often asked if this is a good time to buy a home.  Some clients are concerned that home prices may fall further than they have already.  They are assuming that the best course of action is to wait for the bottom in the market and then buy.  The problem with this approach is that you don’t know where the bottom is until you see it in the rear view mirror, meaning until you’ve missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability.  Even though interest rates have gone up in the last six months, they are still near historic lows.  Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life.  It’s important to live in a home that reflects your taste and values, yet is within your financial “comfort zone.”  To that end, it may be more important to lock in today’s relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today’s market.

Displaying blog entries 1-2 of 2




Contact Information

The Randy Worrell Team
RE/MAX Legends Group
5645 Castle Creek Pkwy N
Indianapolis IN 46250
Direct: 317-819-3330
Voicemail: 317-644-0086

Randy Worrell  -  RE/MAX Legends Group       317-819-3330  Direct       317-590-5709  Mobile