For regular readers of this blog, this should be another useful article on the subject of real estate ownership. Many people who purchased real estate four or five years ago are feeling the pinch these days because property prices in most places in the United States are down.
However, for those who have stayed out of the real estate market last few years, this may be time to enter it. Interest rates are low, property prices are low and from the looks of it neither seem to be going much lower anytime soon. On top of that, there is now a tax credit for first-time home buyers, or for those who have not owned a house in the last three years. This tax credit can be up to $8,000 — money that should not be passed up if you are eligible for it.
If you want know more about your eligibility for this Housing Stimulus from the government, take at look at the following video from Coldwell Banker President & CEO, Jim Gillespie.
Some things to note are:
- the tax credit is valid for purchases so long as a written binding contract to purchase is in effect on April 30, 2010
- the purchaser will have until June 30, 2010 to close
Do read the above linked article, and watch the above video. Be sure to do a thorough research before making any real estate purchases. No advice on this blog should be treated as financial advice. | Disclosure
