Thinking that the media is making us nuts!
If your head is spinning - join the club. Here we are selling houses and getting lots of calls from people itching to get in on this market and the media says "housing confidence is still low". Well the problem is much of the information that is coming out today is a result of surveys done last month - before the stimulus was rolled out!
Americans want GOOD NEWS! So America - here it is. Mortgage applications for purchases ( not refi's) are up. There are some narrow indicators in certain regions that suggest the bottom may be about here and aside from the up to $8000 federal tax credit to first time buyers, many states are introducing state tax credits for first time buyers and some have tax credits for all buyers. In addition, throughout the country, millions of dollars have been granted for the purchase and rehab of vacant, foreclosed properties so a first time buyer can move into a "ready to live in" home. These local programs may also involve down payment assistance and closing cost assistance - yes, I said down payment assistance.
Check your state and your area for funding programs that are available . Learn how to take those programs and bring them to the public!
Check out these links for more information:
Click here programs through HUD
http://www.hud.gov/offices/cpd/economicdevelopment/programs/rc/hera.cfm
(If you want the entire stimulus package:)
http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:h1enr.pdf
Fox New has a good easy to understand article on the $8000 tax credit
http://www.foxbusiness.com/story/markets/industries/finance/time-home-buyer-tax-credit-available/
Bye the way....if you have not owned a home in the last 3 years, you are considered a first time buyer for the Federal tax credit of up to $8000!
Carol
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