So you have been sitting on the fence, you have been waiting on the sideline, you have been hesitant to jump in the waters since the real estate market has been so volatile.  Waiting for the bottom is hard because you will never know when the bottom has been reached until the market is rebounding.

 

With the passage of the Housing and Economic Recovery Act of 2008, fence sitters have a reason to jump off – the disappearance of seller assisted down payments through programs like Ameridream and NEHIMIAH.  If you are not under contract, approved with an FHA case number and loan even if the seller wants to help they won’t be able to after September 30^th.  So why are you still sitting on the fence…its last call.  It is time to jump in before the opportunity is gone.

 

Sure there will be programs that congress will pass to replace those that are being eliminated, but no one can tell you when exactly that will happen and who knows if the market conditions will be as favorable to buyers as it is now.  There is always a risk in a volatile market.  Will prices decline further?  Will the market recovery and create equity in the home you buy?  Will interest rates stay favorable?  Will inventory be available in my price range?  My crystal ball works as good as anyone’s, meaning no one can really know what the future will bring, but I do know the reality of right now.  If you were thinking of buying and using a seller assisted down payment program the clock is ticking and it is time.