What More Could You Ask For?

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The extremely popular first-time home buyer tax credit for $8000 has been extended through Apr. 30, 2010.  The initial tax credit was set to  expire at the end of November of this year.  However, studies show that the tax credit has been working to increase home sales, reduce the inventory over the past year, and boost the overall economic conditions.  According to the National Association of REALTORS®, each home sale generates about $63,000 in additional economic activity. This success led Congress to extend the credit an additional five months.

In addition to the first-time home buyer tax credit, the Congress also expanded the credit to help other buyers that are current home owners.  There is a new $6500 tax credit available for homeowners who are purchasing a new primary residence and who have lived in the home for five years of the last eight years.  The hope is that the new tax credit for $6500 will spark a new market of move-up buyers.   This will continue to reduce the inventory and stabilize the housing market further.

So with the affordability index in Orlando at 196%(1), interest rates still at incredible lows, and an $8000 or $6500 incentive to buy…I pose the question…What More Could You Ask For?

(1) Orlando Regional Realtor Association Nov. 10, 2009
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About Kathryn Stelljes PA

I am a Realtor in the Downtown Orlando area. I have earned a Bachelor's Degree in Marketing and a degree in Residential Planning. My background in these design fields has advanced my ability to sell in the realm of residential real estate. As a native Floridian and resident of Downtown Orlando I understand the growing needs for homeowners in the Central Florida home market and specifically the Downtown market. I enjoy sharing information about businesses, fun events, and the historic homes and neighborhoods that make Downtown Orlando such a unique and vibrant place to live. I love Italian Greyhounds, old houses, interior design and design blogs, social media networking, and anything marketing related.
This entry was posted in Economy, Orlando News, Real Estate, Real Estate News and tagged , , . Bookmark the permalink.

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