Historically low mortgage rates and a first time home buyer tax credit of $7,500.00 (you have to close before April 2009), and FHA loans with downpayments as low as 3% (will go up to 3 1/2% in February of 09) will provide a backdrop for a very active market on the North Fork in early 2009. We have seen a rise in activity in the lower echelon of pricing, specifically stimulated by these incredible benefits. Two years ago, barely any homes were available below $350K, today there’s a lot more to look at!
The fact that these benefits are only temporarily available, and that the activity in the market will focus on the properties that are “value” priced, means that anyone interested in buying a home on the North Fork should start looking to be able to take advantage of the worst of the market and great -truly historic- incentives. Ask your parents if they ever had a 30yr fixed mortgage under 5%?
So let us prove this to you: we’ll connect you to the right properties and people to make being a part of the North Fork a reality!
