The fourth quarter of 2009 showed some very promising signs that the real estate market is on its way to recovery with double-digit gains in some states for existing home sales. Year-over-year sales were higher across the board in 49 states, while all but three states had double-digit annual increases for an overall total 13.9% gain in sales.
With many potential beach condo bargains coming up in 2010, along with low mortgage rates and home sales activity picking up, the outlook for Gulf Shores and Orange Beach is looking very good.
The driving force behind the surge of home sales was buyers responding strongly to the tax credit combined with record low mortgage interest rates.
Mortgage interest rates are expected to rise later this year, but right now conditions are good with steady home prices and favorable inventory.
A big issue is for any repeat or first time buyer to speed up their buying plans if they want the expanded tax credit. The deadline is to have a contract by the end of April.
As a repeat buyer you do not have to sell your existing home, but all buyers must occupy the property they purchase as a primary residence to qualify for the tax credit. This is a great opportunity for people who are thinking about purchasing a Gulf Shores or Orange Beach condo.Â This is the time to act now, do not miss out! Who know when another opportunity like this will come along? Buyers who have a contract in place by April 30, 2010, have until June 30, 2010, to finalize the transaction to get a credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.
Are you ready to escape the "hustle and bustle"? The sparkling aqua blue waters and sugar white sand are only footsteps away. Now is the time to make Gulf Shores or Orange Beach your home away from home. There are not many comparable places that you can relax on the balcony while you listen to the waves breaking on the white sandy beaches.
Whether you are looking for a beach home for your retirement, investment property, vacation home or second home, I can help you find the perfect real estate in Gulf Shores or Orange Beach . Don't waste any more time, let's get started today! Contact Lance Steffek at (251) 981-2225.