First Time Home Buyer Tax Credit Spartanburg & Boiling Springs Area

Sales in the Spartanburg MLS have been spiking up this entire week. Why? We are approaching the expiration of the First Time Home Buyers Tax Credit for Spartanburg.

The First Time Home Buyers Tax Credit expires on November 30. That is significant news now in early October because once you find a house you like it generally takes 30 days for the lender to organize the paper work to close the loan!  Therefore November 30 minus 30 days equals October 31.  But wait, banks are taking longer to close now so 40 to 45 days is not unusual!  This means that your Boiling Springs lenders need to start processing your loan on about October 15 2009.  That gives home owners 2 weeks to find the home of their dreams and with everyone trying to beat the same deadline competition for the best Spartanburg and Boiling Springs homes is heavy.

If you would like to buy a home in Spartanburg county and have not owned a home in the last 3 years give me a call and we will find you one right away.  With many homes on the market and prices better then they have been in a long, long time, the time to buy a Spartanburg home has never been better.

Here is some information on the First Time Home Owner Tax Credit.  Hurry, it is almost over.

Owner Finance Boiling Springs Home

As many Boiling Springs and Spartanburg homeowners face foreclosure or damaged credit for a variety of reasons sellers offering owner financing is becoming more and more common.  Owner financed homes in Boiling Springs range from expensive luxury homes to affordable simple homes to everything in between.

I’d like to highlight one Boiling Springs Owner Financed home here:

1088 Wilkins Ford Road, Inman, SC

For just a $467/month payment that INCLUDES your principle, interest, taxes, and insurance, you can own a 2 bedroom 1 bath home on 1 acre with a large shed equipped with electric. At a cost this low it rarely makes sense to rent and have nothing left to show for your money at the end of the month. By owning and financing your own home part of each payment goes to payoff the amount owed on the home.  This is called your principle payoff. If you decide to sell the home at some point you can pocket the difference between what you sold the home for and what you still owe on the property.  This is called realized equity.

For this Boiling Springs Owner Financed Home, or should we say Inman Owner Financed Home the land alone is worth at least half the selling price.  It is 1.01 acres of level, flat land.  Water and electric utilities are already run to the land and a septic tank is already installed.  These are costs often not thought about but connecting water service to your land can be thousands of dollars alone.

If your tired of paying rent but have credit problems or just keeping a budget consider this home before it is gone.  Oh yea, and owner financed homes also qualify for the First Time Home Buyers Tax Credit set to run out on 11/30/09.  Call me for help in finding an owner financed home in any price range.  Search for homes in Boiling Springs SC here.