StephanieFox
11-16-2009, 04:50 AM
It's not over yet, folks. Lower priced homes have hit the bottom, but the folks in the know say that a new round of bank foreclosures is going to hit in the next couple of months, this time on higher end homes.
Meanwhile, the $8,000 tax credit for 1st time buyers, which some say is leading the recovery, has been extended and expanded. Now included are those with higher incomes and to those who have lived in their homes for five years out of the last eight years. The deadline for a finalized purchase agreement is April 30th, with a closing date set for the end of June.
The current program has increased sales, but will the same thing happen to the more expensive homes? How about for the really expensive ($1M+) homes? What do you think?
Meanwhile, the $8,000 tax credit for 1st time buyers, which some say is leading the recovery, has been extended and expanded. Now included are those with higher incomes and to those who have lived in their homes for five years out of the last eight years. The deadline for a finalized purchase agreement is April 30th, with a closing date set for the end of June.
The current program has increased sales, but will the same thing happen to the more expensive homes? How about for the really expensive ($1M+) homes? What do you think?