Make hay while the rain pours and buy a Lake Forest or Mission Viejo home and receive $8,000 while you can!

If you would like still have a shot at the $8,000 Federal Tax Credit for new homeowners, you should be putting in an offer for your new home before the end of January.  Although the program gives buyers until April 30th to get their offer accepted, the majority of the homes take that long to receive acceptance.  I did an analysis of Lake Forest and Mission Viejo active listings. Take a look at the chart below:LF and MV Distressed  Between 44%and 90% of the homes on the market are distressed sales.  This means that a bank is probably involved accepting your offer.  The majority of distressed sales are short sales and it is common for bank acceptance to take 3-5 months after seller acceptance.  Add to that the fact that the average number of offers that I receive on my listings is about 30.  There are a lot of buyers who will not get their first home.  My advice:  Take the day off of work, get out your umbrella, select a home and write an offer.  If you wait until the sun comes out, it may be too late.

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