Legislation was introduced in the Senate…….
that will increase the tax credit from $8000.00 to $15000.00 and be for all home buyers. So the question is what do you prefer the bird in the hand or two in the bush. There is no guarantee that this bill will get passed or how it will be changed if it is passed. Buying a house is one of the biggest purchases a person will make and should not be rushed into without knowing all the possible situations.
As a Reno/Sparks real estate professional I encourage all questions and comment on the Reno/Sparks real estate market or any article posted. I can be reached by email at chance@ballard-company.com or http://www.myspace.com/chancegates
NV – For first-time buyers, 2009 may be the best year ever to buy a home. Nevada Rural Housing Authority’s Home at Last™ MCC Program, coupled with the government’s stimulus plan that includes significant tax credit for first time home buyers, plus the lowest home prices in years, has created a perfect storm for those who have been shut out of the housing market in recent years.
A tax credit up to $8000 is now available for qualified first-time home buyers purchasing a home between January 1 and December 1, 2009. This tax credit does not have to be repaid. The program can be paired with the newest NRHA first time home buyer program to provide significant tax savings.
“The planets have aligned for first-time buyers,” says CJ Manthe, COO of Nevada Rural Housing Authority. “Government stimulus tax credits and Home at Last™ MCC tax credits can provide a qualified buyer with thousands of dollars in savings not just in the first year, but throughout the life of the loan.” Manthe notes that with all the available housing inventory and prices that continue to drop, a first-time rural buyer has a unique opportunity to get into a great home.
Many real estate experts are predicting that home prices are nearing the end of their decline and will bottom out this year. While a current homeowner may see their equity drop, a first-time buyer can take advantage of the lowest housing prices in years.
Article from www.nvrural.org
As a Reno – Sparks real estate consultant I encourage any questions or comments on the Reno – Sparks real estate market or about any of the articles I post. You can email me at chance@ballard-company.com
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