Thinking about waiting to buy a home in the Crofton MD real estate area. I wouldn’t wait too long. Now is a great time to buy.

• Did you know that if you’re a first time homebuyer the government will give you an $8,000 tax credit if you purchase a home before December 2009. There are some restrictions, i.e., you and your spouse can’t earn more than $150,000/year. $75,000 if you’re single. You have to live in the house for three years as your primary residence. It’s $8,000 or 10% of the purchase price, whichever is lower. Not too bad, and you can collect the money this year.
• Housing inventory in Anne Arundel County is pretty high right now. Whatever your price range there should be plenty of houses to preview with your agent.
• Interest rates are low too. If you have decent credit you should be able to get a rate around 5%. This won’t last either so now is a good time to take advantage.
• There are plenty of signs that the bottom of the market has been reached or is very close to being reached. When Crofton homes start going up again, you can take advantage of the equity you’ll be building.
• The influx of new buyers to the area as a result of Ft. Meade, BRAC, is like to happen beginning next year. More buyers in an area tend to make more competition and increase prices. Crofton is slated to be one of the communities where a number of the BRAC employees will live.

If you have any questions about the Crofton real estate market give me a call at 443-995-9595.