New Tax Credits Sweeten the Home Buying Market
If you are on the fence about buying a house, there is no time like
the present to jump into the market. Here are three reasons to act now:
- Low interest rates. Actually, historically low rates! Some
experts are forecasting market changes that will drive interest rates
over 6 percent after March.
- Congress extended tax credits through June 30 to $8,000 for new
buyers and added $6,500 for move-up buyers. Additionally, income levels
for qualifying buyers were increased to $125,000 for individuals and
$225,000 for married couples. (To qualify, the house must be in
contract by April 30.)
- Wide selection of homes now available. There is a good selection
now, but with the addition of the tax credit for move-up buyers, we
expect to see a lot more houses coming on the market in the near
future.
Typically, the housing market slows down a bit during the
holidays, but this new move-up tax credit – combined with the
first-time buyers tax credit -- is expected to heat up the local
market.
We are your Tri Valley real estate experts! If you
want to know more about buying a home, give us a call. We’re here to
help. For additional information about the Fabulous Properties Team,
visit our website at
www.FabulousProperties.netThe Fabulous Properties Team