Economic Stimulus



The economic stimulus bill will likely be signed by President Obama very soon.



This bill includes an $8,000 tax credit that will replace the current $7,500 tax credit and will be in effect for homes purchased by 1st Time Homebuyers from January 1, 2009 through end of November 2009, subject to income limits.



The main difference is that this new credit is not repaid unless the home is sold within 3 years.



Great news y'all - up to $8,000 as a grant to make the affordable homes even more affordable.



Interest rates are good, selection is still good but with sales increasing and inventory decreasing, the homes that are well-priced and in acceptable condition will sell first, leaving the over-priced trashed homes.



It's a very good buyer's market!