How YOU can benefit from the Stimulus Package!

Finally, Congress has approved a “Stimulus Package” to help get the economy back on its feet, and one of the most critical provisions has to do with housing. Here’s how YOU can take advantage of the new plan:

                        A true tax credit (not just a deduction or an interest-free loan) is available up to 10% of the cost of the home or $8,000, whichever is less.

                        This is available to first-time buyers. Purchaser (and spouse) may not have owned a principal residence in 3 years previous to purchase.

                        The credit is refundable, meaning it reduces (or can eliminate) income tax liability for the year of the purchase, and any unused amount of the tax credit will be refunded to purchaser.

                        This program is effective for purchases from January 1, 2009 through December 1, 2009.

                        If the home is sold within 3 years of purchase, the entire amount of the credit is recaptured upon sale.

 

What do you risk by waiting?

Too many prospective buyers sit on the fence waiting until the market has bottomed out and is on the rise again. By the time the media issues an “all clear signal”, their reports are based on old data that show sales and prices have increased. In other words, those buyers waiting

for the bottom of the market in fact miss it!

Why NOW is the best possible time to buy:

                        INTEREST RATES are at historically low levels and can be locked in for the life of the loan. (We can help you obtain a free, no-obligation pre-approval which will improve your negotiating position with sellers!)

                        HOME PRICES have declined over the last few years, but will turn around as more buyers enter the market.

                        INVENTORIES remain high, however they will decline with increased activity - your choices are highest NOW.

                        This stimulus package will coincide with the spring season which is traditionally the most brisk market for home sales. In other words, buyers will soon be competing for the best properties on the market.

 

The real estate market is more complex than ever. Let Victoria Luhring and The Executive Home Team with The Danberry Co. be “Your Source for Real Estate” – call your Danberry agent today for a clear explanation of how you can make current market

conditions benefit you and your family!
To Comment:  Click on the Title