Many buyers and agents have been waiting to see the "rescue package". Well, now it is here and there are some very good incentives, especially for first time buyers. Not only is there more inventory to choose from, but prices are lower, conforming loan limits have been raised to $729,000 while 30% fixed rates are near historic lows and there is a tax credit of $8,000 for first time buyers.
Buying a property is also a great hedge against inflation. Interest rates are sure to rise in the near future as government spending continues.
The window of opportunity is here!
If you are interested in the specifics of the tax credits, see the attached FAQs.
Download First time home buyer tax credit FAQ
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