However, if you signed the contract before April 30th for a qualifying home, and hadn’t managed to get to closing before June 30th, then you’re still in luck.

Rushing to beat the deadline

Apparently the government decided that three months from initial contract signing to closing wasn’t enough time for some of the homebuyers, so they extended that date to September 30th instead. While this simple adjustment will certainly help some homebuyers, the question it raises is the level of confusion, disappointment, or concern it could raise with other homebuyers who simply were unable, or unwilling, to sign initial contracts by the April 30th deadline.

In May, the National Association of Realtors (NAR) reported a historic drop in home sales of more than 30%, and a large contribution to that decrease was the end of the tax credit. These numbers were based on pending sales, meaning the initial contracts were signed but the closing hadn’t been completed yet. Homebuyers who had been looking for a home through March and April, and maybe even having found one, could have been delayed signing the initial contracts for a number of reasons and thus missed out on their chance at an $8,000 tax credit from the government.

Moving forward, what does this mean?

At this moment in time, many potential or would-be homebuyers are watching the activity in Washington for any sign that another full extension of the tax credit might be in the works. After all, moving to extend the final deadline date for closing could indicate that the program was successful in motivating people to purchase homes for the first time. But what are the chances that we will bear witness to this level of government intervention in the near future again?

After all, if it hadn’t been for this program, the entire real estate industry could have seen a continued drop in home values, and a very slow recovery. Yet in the current economic -and even more importantly, the political- climate, it appears that another stimulus is unlikely to pass Congress to get people back out into the home-buying market.

Read between the lines?

Still, many people want to read between the lines, no matter what happens in D.C. and they will purport to watch and wait, rather than take advantage of the great deals that are readily available within most housing markets throughout the country. If clients are uncertain or reluctant to purchase a home at this point in time because they are playing a wait and see game with whether another tax credit is in the making, then it may be incumbent upon you as a real estate professional to enlighten them about the money they can be saving by snagging a great deal on their dream home as opposed to waiting for the government to get another program passed, signed, and implemented.

The tax credit served a purpose and many homebuyers took advantage of it, but with the historically low interest rates combined with resale values in many markets coming in a less than half of what they were just a few years ago, most homebuyers would save far more than $8,000 by closing a deal now.

The moral of this story is that headlines can be misleading and Washington intervention still isn’t going to put as much money back in people’s pockets as acting now and signing their dream home today.

As with buying any home, know yourself and your family. Know what you want out of a home. Without this information, it’s going to be nearly impossible to choose a builder. You want someone who offers flexibility that will personalize your space so it’s not cookie-cutter inside. Also find out what tracts of land the builder has available or if you have to find your own. Land costs can dramatically change the entire equation in a new build. The Home Builder’s association in your region can help greatly with finding out what to expect in advance of all these discussions.

Beyond this, ask the builder how much money will be tied up in each step of the construction process, and what types of changes they’re required to make if work isn’t up to specification. Ask about a home warranty, and if one is available, licensure, and how they go about securing permits. Be aware that throughout this process you could end up dealing with any number of people There’s a developer who finds land, building companies who put the walls up, a contractor who may be helping with any number of internal matters from plumbing to lighting.

Building a dream house is not an easy task. For one, you need someone who is patient enough and understanding enough to explain the processes of building a house — what to expect during and after — and the budget that you need every step of the way. You also need someone who is affordable enough for your needs and your pocket. With these requirements, why don’t you consider the services of new home builders? The new breed of dream home builders has the talent and the skills to build your dream house, less the cost of long-established custom home builders.

It’s time to start thinking about Adams & Marshall Homes. They are your source for Indianapolis new home builders and as Indiana’s #1 provider of leisure living, their goal is to make high maintenance a thing of the past, so their residents can spend more time enjoying the future. That’s why their communities feature low maintenance, energy saver homes with lawn care in the summer and snow removal in the winter. So if you’re ready to put your high maintenance home behind you, you’re ready for Adams & Marshall.

As the top choice for Indianapolis new home builders, they are locally owned with a committment to central Indiana. Their construction standards meet or exceed all industry expectations with full warranty protections. When you think of Indianapolis new home builders, think Adams & Marshall.

Some people may take a chance on an inexperienced Florida luxury home builder and come out of it okay, but others may not be so lucky. To protect yourself and your investment, you should look for a builder who is experienced in building the type of custom home you are looking for.

This is where things such as referrals and word of mouth come in handy. If you know someone who has hired a Florida luxury home builder and been very happy with them, that is probably one of the best recommendations you can get. Likewise, stay away from builders that have generated many complaints.

Not every custom home is completely original, so a wide variety of building plans is a must for a good luxury home builder. The custom part comes in when you make subtle changes to a floor plan to make it more like what you want. For instance, you can make rooms bigger or smaller, upgrade appliances, and add cosmetic things such as moldings and trim work. The more freedom a builder allows you, the more custom your home will feel.

Choosing an appropriate lot can be difficult for someone who is not a professional Florida luxury home builder. The way a lot is laid out can impact the floor plans that can be used on that particular lot — and there is nothing more heartbreaking than finding out your dream house just won’t work on the lot you’ve chosen. Many people therefore feel more comfortable if the builder helps them locate an appropriate lot. If this is important to you, you will want to be sure to ask potential builders if they offer this service.

Most builders should be able to build on a lot that you have already chosen, but still, it’s good to ask. As already noted, the lot may affect what can be built there, so be sure you discuss your housing plans with the builders as you are going through the interviewing process.

Experienced, reliable home builders stand behind their work. With each Florida luxury home builder you visit, ask about the specifics of their warranties: what is covered, and for how long. Then compare these and eliminate the builders whose warranties are noticeably less generous than others’.

Happy customers are a sign that the builders are doing their jobs correctly. Be sure to always ask for references, and be sure to follow through once you’ve asked. If you speak with the references in person, be sure to ask about specifics, such as whether they have had any problems and how the builders handle it if they do. However, remember that the builder is most likely only going to give out names of people whom they know will give glowing references, which is why a builder’s reputation and word-of-mouth referrals are also very important.

New Homes in Phoenix, AZ are situated in quiet neighborhoods with easy access to schools, hospitals, playgrounds, shopping centers and major highways. Being premier Phoenix home builders, new homes have the expertise and the experience to understand the Arizona climate, landscape and way of life. New Homes in AZ are thus designed to be spacious, state-of-the-art in structure, style and design, and ready to weather the excessive Arizona heat.

Montalbano Homes creates communities that thrive and endure, growing in value for generations to come.