Many factors have come together which make it attractive, and a smart long term wealth building strategy, for first time homebuyers to purchase in 2009!!
- Lower house prices help first time buyers affordability.
- Historically low interest rates should remain low through 2009. The Federal Reserve Board is taking numerous steps to reduce mortgage rates.
- Federal government income tax breaks:
- $7,500.00 existing credit for first time buyers
- Existing IRS income tax breaks for homeowners
- More Federal income tax breaks may be coming in 2009
In many cases it is now cheaper to own a home than it is to rent.
Please also remember that this window of opportunity to purchase low priced houses with extremely low interest rates will not stay open forever.
Owning your first house may never be more affordable than it will be in 2009!!
Tom Lyons Real Estate Team
Real Estate Experts in Livermore, Pleasanton, Dublin, San Ramon, Danville, Tracy, Mountain House, Manteca, and Lathrop California
925-216-1105
Get a leg up on building your long term wealth!
Great post, lets hope 2009 will be a better year for Real Estate! Happy Holidays!
If more people knew how to purchase homes 'subject to' first time home buyers could get great deals.