On Wednesday President Bush signed into law the newest housing bills. What does this mean for the average homebuyer or seller, and what does this do to bolster the housing market?
1. It provides a homebuyer tax credit for first-time home buyers.
2. It permanently increases loan limits
3. It offers assistance for more than 400,000 homeowners at risk of foreclosure
4. It adds a standard deduction for real property taxes
5. It offers financial backing to Fannie Mae and Freddie Mac.
As always, I recommend that you talk to your qualified lender or tax preparer for further information about these benefits to get the complete up to the minute advice.
The President of NAR has this to say about the bill signed by President Bush. "The National Association of Realtors and its 1.2 million members commend President George W. Bush for his quick action in signing the housing stimulus bill today. This legislation will go a long way to help stabilize the housing market and make the dream of homeownership more attainable for many Americans. In addition, more families will be able to refinance into safer, more affordable mortgages, in many cases helping those families avoid a devastating foreclosure. Congress presented the president with a comprehensive bipartisan bill that includes needed reform of Fannie Mae and Freddie Mac with improved oversight, FHA modernization, permanent increases in conforming and FHA loan limits, and a temporary tax credit for home buyers. These are all designed to help the housing and mortgage industries and boost the US Economy. We believe these goals are achievable and will benefit current and future homeowners alike."
So the bottom line for home buyers is- What are you waiting for? This is the best market possible for you, lots of inventory, low prices and great benefits. I'd love to help you move to your next home.
For More information call Deneen Davis 703-582-1219 today...
Location Characteristics: The lovely Fairfax County area has so many things for you to do. It's known for it's great school system and there are plenty of jobs in the government or civilian areas. This is a technology area. A great place to play, work and enjoy life!.
About Deneen Davis-with Weichert Realtors- Great Falls VA / MD:
Over 20+ Year in Sales, Top 5% Producer nationwide, Multi Million Dollar Producer in real estate, Servicing from Estates to condos and have several websites to advertise your home and market to each client in over 40 plus locations. Deneen sits on several volunteer organizations seats as an active Board of Director, and actively communicates to her clients in person, by mail, by e-mail,fax, and phone. Service of excellence is what she strives for. Deneen drives the miles to make her clients happy and is the best Real Estate Agent around. Call Deneen Today 703 582 1219 or her assistant Christie Shue 703 759 6300 x 146 Deneen can give you a free home evaluation. We look forward in working with you soon.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
