This is a Sponsored Post written by me on behalf of Coldwell Banker. All opinions are 100% mine.
Market figures at this time showed that mortgage interest rates in the U.S. are at their 50-year low. However, several factors indicate that the longest and steepest recession since World War II may be over. And though the recovery likely will be long and difficult, current developments and trends seem to show that there are a lot to be thankful for as the holidays approach.
For instance, Congress has already extended the tax credit for homebuyers until 30 April 2010 as long as they have a written and binding contract by that date and expanded the coverage to include homeowners who wish to ‘move on’ after 5 years of living in their current property.
The existing policy also allows first-time buyers, or those who have not owned in the last three years, to receive up to US$ 8,000 in tax credits, while homeowners who have lived in a current home consecutively for 5 of the past 8 years can receive up to a US$ 6,500 tax credit. The income limits were, likewise, increase: US$ 125,000 for singles, US$ 225,000 for married couples with a US$ 20,000 phase-out of the credit for both.
So isn’t it time to buy a home? It certainly seems that way. The housing picture may be complex — and sometimes frightening. House prices in the U.S. have plunged 30 percent, on average, from their 2006 peak. But from 2000 to 2006, average prices nearly doubled. And a 40 percent increase is definitely a healthy increase — even in a robust economy.
There is no need to wait, especially for those buying out of necessity — because they are moving to a new area and need to sell their old house and buy a new one. Even for those who are planning to buy a new house, interests on subprime loans are becoming more affordable.
To learn more if the prices may fluctuate further or if the credit policy can help sustain the recent uptick in housing sales, try to visit 2010 Homebuyer Tax Credits. They offer informative articles to supplement any housing research and they even offer home search on the site. Check them out and you will lose nothing and gain useful insights.
For instance, Congress has already extended the tax credit for homebuyers until 30 April 2010 as long as they have a written and binding contract by that date and expanded the coverage to include homeowners who wish to ‘move on’ after 5 years of living in their current property.
The existing policy also allows first-time buyers, or those who have not owned in the last three years, to receive up to US$ 8,000 in tax credits, while homeowners who have lived in a current home consecutively for 5 of the past 8 years can receive up to a US$ 6,500 tax credit. The income limits were, likewise, increase: US$ 125,000 for singles, US$ 225,000 for married couples with a US$ 20,000 phase-out of the credit for both.
So isn’t it time to buy a home? It certainly seems that way. The housing picture may be complex — and sometimes frightening. House prices in the U.S. have plunged 30 percent, on average, from their 2006 peak. But from 2000 to 2006, average prices nearly doubled. And a 40 percent increase is definitely a healthy increase — even in a robust economy.
There is no need to wait, especially for those buying out of necessity — because they are moving to a new area and need to sell their old house and buy a new one. Even for those who are planning to buy a new house, interests on subprime loans are becoming more affordable.
To learn more if the prices may fluctuate further or if the credit policy can help sustain the recent uptick in housing sales, try to visit 2010 Homebuyer Tax Credits. They offer informative articles to supplement any housing research and they even offer home search on the site. Check them out and you will lose nothing and gain useful insights.
I am hoping that the first time homebuyer's tax credit is incentive for buyers! We have a rental property that we are trying to sell with this thought in mind.