Extension of the First Time Home Buyers Credit is Good News for The Boise Valley!

I guess this is a perfect topic for me to write my first official blog post! While there have been "rumors" for some time concerning an extension to the First Time Buyers Credit it appears that we should see something within the next week.

Senator Reid and other senior Democrats in the Senate have apparently reached an agreement to extend the expiring $8K tax credit for first-time home buyers, Senate Banking Committee Chairman Christopher Dodd said Tuesday.

This is great news as "New Home" sales were down 3.6% last month. My feeling is this is a direct result of the credit program sunsetting. While the home inventory here in The Boise Valley is slowly coming down this is great news and will hopefully buoy the local market through the slower winter months.