The real estate market received a boost earlier in the month once HR 3548 was passed. The extension on the first time home buyer tax credit and the creation on the repeat buyer credit was the news many people have been waiting for over the past few weeks. Ideally, this legislation will push those buyers who have been sitting on the fence to a purchase before the expiration of the bill on April 30, 2010.
The other great piece of news is the new adjusted gross income limits, allowing Buyers who would not have qualified previously to take advantage of this great incentive!
I foresee this bill giving the market a nice boost in the first and second quarters of 2010. If you have any questions about the new rules, please call or email me. I would be more than happy to help.