Tax Credit? What are they are proposing?

Originally, there was a lot of speculation that there would be no tax credit extension. That caused some uyers to stop looking (especially in regions where closings take longer).

If the housing bill is signed as proposed this is what we would be getting..

Income levels will be raised to $125,000 for a single and $225,000 for married couples.

These buyers did not qualify for the original tax credit and therefore will benefit more people.

This could be the answer for the second tier homes over 400,000 - 600,000 whose sales have remained stagnant.

The Move up buyer may also have 6,500$ good reasons to make the move as well.

Many of the sales over the last 6 months were foreclosed properties which did not create move-up buyers. Now, more non-distressed properties will sell.

The Future

1. Interest rates are at historic lows.

However, the Fed has announced it will pull back on the purchase of mortgage-backed-securities in March. Experts believe that will drive interest rates to over 6 percent.

2. Tax Credits if you buy now.

The tax credit will expire the first half of 2010. (the house must be in contract by April 30th.)

3. Selection is fabulous now.

Howeveer as more buyers take advantage of this tax credit opportunity the less homes there will be to choose from.

For additional information call me.

Best Regards,

Dawn Marie White Broker-Manager-e-pro

Marketing & Sales Professional

Crossroads Realty Inc

732-581-9414 Cell

732-657-1300 Office

dawnmariewhite@gmail.com

www.njwaterfront.com

www.crossroadsrealtynj.com

"Your Best Source For Homes at the Jersey Shore"