2009-2010 Tax Credit Information
The Tax Credit Extension is part of a $24 billion economic stimulus bill that extends the $8,000 tax credit for homebuyers who are purchasing their first home and expands the program to offer a credit of $6,500 to homeowners who have lived in their current home for at least five years and are seeking to relocate.
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Additional must reads:
Consumer Confidence, A Key To Housing Market
It’s true that consumer confidence is an important indicator of economic health of a country. Several factors influence the general public consumer confidence just as they do our individual confidence. Right now the greatest factor in confidence is income security… which starts with job security. While many people have taken a pay cut the real concern is a complete job loss. Until this fear is minimize….
Read full article: Consumer Confidence, A Key To Housing MarketReal Estate Update August 2009 From The Ramsey Group
FINALLY, we are getting the news media to report what real estate agents have been seeing over the past few months. That is, the real estate market is getting better. This begs the question, better for whom?
Who is Benefiting From the Improvements in the Real Estate Market?
Amazingly it is both the buyers AND sellers who are benefiting from the recent real estate market improvements. How can that be? Simple, buyers have very low mortgage interest rates, plenty of inventory, lower prices and, for first-time buyers, the $8,000 first-time buyer tax credit. With all this incentive it’s a great time to buyer real estate!
How Sellers Benefit Too!
Sellers on the other hand are finally seeing price declines slowing down or stopping all together. Better yet, in many area of the country prices are starting to inch back up! All this is due to the influx of buyers taking advantage of the current buyer’s market. As more…
