Where O Where has Sandy been!
May 18th, 2009 categories: Market Updates
Wow, it has been much too long since my last blog – My apologies! The reason? Blame it on two weeks of real estate continuing education. The information we learn is invaluable, but putting me in a classroom for 8 hours straight is like being in a straightjacket!! My saving grace was the comfortable wing-back chairs the school had available. Thank you Cumbie Institute!! So, now expect me to be back to normal blogging . . .
Here’s some fantastic news: The Secretary of the Department of Housing and Urban Development (HUD) announced this week that home buyers will be allowed to use the $8,000 first-time homebuyer tax credit for down payments on purchases financed by FHA loans. FHA will allow approved lenders, nonprofits, and government agencies to advance the funds in the form of bridge loans that buyers would use for down payments. Buyers would repay the loans after they received their tax refunds. The FHA will release more details on the program soon.
So, with a great tax credit being offered by the government, you’re not sitting on the fence not sure to buy yet, are you? Don’t let your chance slip away!! Prices have tumbled, interest rates are at an all time low, and now you have money to put down on your first home. Win, Win, Win.
