Posts Tagged ‘tax credit’

26
Oct

Big Rebound in Existing Home Sales!

   Posted by: admin    in Comments on today, Current Market Conditions, real estate

Washington, October 23, 2009

Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of Realtors®.

Existing-home sales – including single-family, townhomes, condominiums and co-ops – jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million units in September from a level of 5.10 million in August, and are 9.2 percent higher than the 5.10 million-unit pace in September 2008. Sales activity is at the highest level in over two years, since it hit 5.73 million in July 2007.

Lawrence Yun, NAR chief economist, said favorable conditions matched with a tax credit are boosting home sales. “Much of the momentum is from people responding to the first-time buyer tax credit, which is freeing many sellers to make a trade and buy another home,” he said. “We are hopeful the tax credit will be extended and possibly expanded to more buyers, at least through the middle of next year, because the rising sales momentum needs to continue for a few additional quarters until we reach a point of a self-sustaining recovery.”

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19
Mar

First Time Home Buyers: Act Now!

   Posted by: admin    in Albuquerque To Do List, Comments on today, loans

The Homeowner’s Stability Initiative just signed into law gives a tax credit worth $8000 or 10 % of the home’s value whichever is less to first time home buyers on their 2008 or 2009 taxes.  This is great news for those potential buyers who have been on the fence about buying their first home; and keep in mind that we have terrific rates on new loans!  This is especially great news for those of us who are in an area of the country that has a fairly stable economy!  In some areas like California this may not make up for the continual falling prices but in New Mexico our prices have been fairly stable and our area recommended by many news sources as a good place to live!

1st Time Home Buyers save money If a first time home buyer has a $10,000 down payment and gets $8000 back in tax credits, that is only $2000 out of their pocket!  Sounds like an excellent deal to me!  We can either see the glass as half full or half empty.  I prefer to see the half full glass, and I’m not participating in the doom and gloom!

So how do you capitalize on the Homeowner’s Stability Initative?  Just make a commitment to do something different!  This is what changes lives; the commitment to do so!  let me know if you’d like more informatio!

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