"Money can't buy me love"

photo courtesy of Don Hoover since my camera failed.


But it can buy a great property in Brevard County especially if you are a 1st time home buyer. If you haven’t owned a home in the last 3 years you can qualify as a 1st time home buyer. With this in place you can get an $8000 tax credit and this time it is not a loan, at tax time this credit can go toward your refund or reduce tax payment. One of the best parts of this deal is you can use this credit as a bridge loan for down payment and repay at tax time with your credit.

When you add this to the fact that the 1st quarter of 2009 had the biggest drop in property values since the downturn began and puts us at 2002 prices, it is a great time for the buyer and especially the 1st time home buyer. The last 2 months has seen a slight uptick in property value so we may be finally leveling out in prices.

If you are a 1st time buyer and are considering buying a home then you should go to a lender now and get a pre-approval and be ready to go when you find a home. It is now possible to buy a $150,000 home and have a monthly payment of around $1000 including taxes and insurance so now you can say it could be cheaper to own than rent. With a price of $150,000 the choices are endless and you can pick the home will fit your needs.

Now usually we specialize in waterfront homes but it is indeed an exciting time for 1st time home buyers so we have expanded our market. Sunset lakes is a nice gated community in North Merritt Island and there are numerous short sales starting at $162,500 now remember don’t be in a hurry if you are dealing with a short sale. There is a canal front home in Merritt Island priced at $178,200, this home has been stripped by the owner in preparation of renovation but it has now been foreclosed. This would be an excellent opportunity to use the FHA 203B loan and get renovation costs built in the mortgage.

Give us a call today!

Jim Bagwell
Broker