Now that Congress has passed the Home Buyer Tax Credit Extension and President Obama has singed off on it, the homebuyers’ tax credit will be extended to April 30, 2010. 

The housing credit portion of the bill extends the $8,000 tax credit for home buyers who are purchasing  their first home from the current November 30 deadline and expands the program to offer a credit of $6,500 to other homeowners who have lived in their current home for at least five years and are seeking to relocate.  Read the rest of this entry »

If you’ve been renting for the past few years or a first time home buyer, that’s great.  You’ve saved yourself a hundred grand!  Now’s your chance to jump into the market and buy a house. 

Here’s how I look at it.  A house that was $250,000 a year ago might be fairly priced today at $200,000.  Undoubtedly, one of the thousands of homeowners trying to sell a house for $200,000 these days is desperate, and would take $150,000.  Their place has been on the market for six months or more, without a single offer. Read the rest of this entry »