I get asked bybuyers.."will they extend it?" The word I hear from D.C. is that theFeds are NOT going to offer the tax credit again because it didn'tencourage home buying by much.
In California, however it wasvery successful last year and funds alloted ran out quickly. It was sosuccessful that California is offering it again. For this small windowof opportunity, wouldn't it be great to take advantage of BOTH thesecredits, low interest rates, and low priced homes??
And, it's notjust for first time buyers. Current homeowners qualify for $16,500 incombined tax credits and they don't need to sell their current home!But for this month only.
The clock is ticking.....
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They can not understand how older homes of 900 sf with 2 br, 1 bath was designed for a family or 5 or 6 people.
Even these homes in good school area are asking ~$900K. The lower priced homes around 400 -600K is a challenge for realtors and loan officers. The schools are not good enough for many finicky youngsters.
I wish we had a similar state credit in Illinois.