Thursday, March 5, 2009

Should I Buy or Should I Go

When do you think the best time to buy might be????
When the prices are rising ? When selection is limited because things move fast ? When Sellers are getting multiple offers ? When Realtors are phoning looking for something to sell ? When you have to decide immediately and you don't dare add conditions to your Offer in case of losing out ?


How about when there are lots of choices on the market ? When the market is slower ? When ( unfortunately ) Sellers need to downsize for fear of not making their payments ? How about when Mortgage rates are the lowest in History

National and Local housing sales are down, new constuction is almost at a standstill and according to the Canadian Real Estate Association ( CREA )National MLS® home sales activity is expected to decline in 2009 before rebounding in 2010.

On top of this; part of the federal budget, Canada's "Economic Action Plan" includes a first-time home buyers' tax credit of 15% on closing costs (to a maximum of $5,000), which would be worth $750 off a buyer's federal tax bill. They have also increased the amount that first time buyers can withdraw from an RRSP to purchase a home from $20,000 to $25,000 for individuals, and from $40,000 to $50,000 for couples.

Keeping all this in mind the answer is staightforward.


No comments: