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“Tax Credit Quandaries Answered
The complexity of new home buyer tax credits leaves potential buyers with many questions. Here are answers to some of the most confusing:
How does a current home owner qualify for the $6,500 credit?
Buyers must have lived in their homes for at least five out of the last eight years. The home they buy must become their (more…)
Good news for those of you looking to buy or refi……
“15-Year Rate Hits Record Low
The average rate for 15-year mortgages reached a new bottom this week, dipping from 4.40 percent to 4.32 percent—the lowest level since Freddie Mac began tracking rates in 1991.
Rates for 30-year mortgages approached the all-time low of 4.78 percent again last week, falling to 4.83 percent from an average of 4.91 percent a week ago.
Wellesley College economist Karl Case says the Federal Reserve’s efforts to purchase mortgage-backed securities from Fannie Mae and Freddie Mac is lowering rates on home loans.
Source: Boston Herald, Thomas Grillo (11/20/09)
© Copyright 2009 Information Inc.”
It is just time to face the facts…..if your house is for sale you will more than likely get a low offer. Even if you have adjusted your price to current market conditions, you still need to prepare yourself for low offers. Buyers are looking for (more…)
As we start to meander our way out of this recession, it seems that there have been some shifts in how people look at real estate. Below is an excerpt from a survey of resort real estate industry professionals…..
“…As the pendulum swings, consumers are similarly perceived to be focused on the quality of life benefits offered by owning a vacation property with the strongest focus on quality time with family and improved health and (more…)
There is no doubt that the first time home buyer tax credit gave the housing market a helpfull boost. The NAR chief economist said….
“We can’t underestimate just how powerful a catalyst the first-time home buyer tax credit has been for the housing sector,” he said. “It’s given buyers the confidence they needed to get off the fence and take advantage of extremely affordable housing conditions. The buying conditions this year are the most favorable on record dating back to 1970
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