Move Up Buyers need to do the Math

Right now the Oklahoma City real estate market is the Tale of Two Markets.

We have simultaneously a Buyer’s Market and a Seller’s Market.

How can this be you might ask?  Well let’s take a look at the dynamics.

First we have the clock ticking on the first time home buyer tax credit.  For those of you that don’t know, it is an $8,000.00 Tax Credit for first time home buyers that purchase before December 1, 2009.  There are many Buyers looking to take advantage of this who have procrastinated and will now find themselves competing for these first time home buyers houses that are typically around $100,000.  As we close in on the end of the Tax Credit this market is going to start looking like the chaos surrounding a blue light special at K-Mart.  This all adds up to a Seller’s Market for the Move Up Buyer who is selling to the first time home buyer.

The typical Move Up Buyer will be purchasing a home between $150,000 and $300,000.  In this price range you can definitely hear the crickets chirping through the silence.   What does this mean?  Deep Discounts.  Lower listing prices.  And Sellers that are willing to take offers considerably less than the already discounted listing price.  In short a Buyer’s Market.

So, if you are a Move Up Buyer, you are Selling in a Seller’s Market and Buying in a Buyer’s Market.  It doesn’t get any better than this.  And if you think you are missing out on the Tax Credit you just aren’t doing the math.  Tax Credit = Seller’s Market on First Time Home Buyer houses.  Seller’s Market=Premium Price on the Move Up Buyers Sale.  Thus a percentage of the Tax Credit is being passed through to you.

Do the math and then go find that Dream Home that is only attainable in this unique set of circumstances.