Finally…Congress has several proposals to extend or add to your ability to purchase a new home in this time when houses are on sale for 20% off! 

Of course, Congress has not been known to follow through on much of their agenda.  So who knows if any of this will come to fruit.  However, here goes: First, you probably already know about the $8,000 credit for first time home buyers (who have not owned a home in 3 years — if you owned a home BEFORE that, but haven’t owned one in 3 years, you are able to use this $8,000 also!).  This credit has started a buying spree among first time buyers for lower price homes!  But buyers using this money must CLOSE their purchase by Nov. 30th or they will lose the money! 

And  the move-up market is still slow!  So… some Congressional members are proposing 1) extending the credit for another year or, at least, a longer period of time to help buyers continue to become homeowners.  And another proposal was that Congress up that $8,000 ro $15,000 for move up buyers and possibly for all buyers…or just extend that $8,000 to everyone. One great stimulus to help the housing industry!

Whether any of these proposal actually go through, what it tells me is that the government, especially Congress, is acknowledging that they need to encourage buyers to get out there and buy while we still have a plethora of homes on the market!!  So, don’t hold your breath, but do consider taking a look at the fabulous variety of homes available at incredible prices!  You won’t have this opportunity again in your lifetime.

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