Is it better to buy a house now, or wait til the $8000 tax credit expires?

Question

i live in the denver area and there is a lot of competion for houses in my price range (under 200k) because of the tax credit. Perhaps it will be easier to get a better deal after the tax credit expires.
What do you think?

Answer 1

Could be, or again, maybe not. You just can't know until you make an offer.

I see your logic though. If there are a lot of people bidding on a house because it is in the price range for first time homebuyers, it could drive the price up and after the credit goes away..there may be a shortage of buyers...which will drive the price down..or cut out a lot of the competition.

I say, if you find a place that you like and can put under contract before April 30th, go for it.

Answer 2

You are right, there is a lot of competition. Just try to buy it now because it's a very long process, and you'll find a house when you find it.

Answer 3

who knows, obama will probably extend it once again, although i hope i am wrong.


If it does expire, YES houses will not sell as fast, also interest rates will be going up soon too..