After years of rising prices that shut some people who would have liked to purchase a home out of reach to afford it, the tables have turned. After a year of adjustments, we now have a market full of opportunities, not only in stabilized lower prices, but even more importantly, lower interest rates, and the government tax credit up to $8000 as an incentive for home ownership.
But these are not without stipulations.
You must not have been a home owner for 3 years, there is a limit on income requirements, as well as how much credit you can receive at settlement. This offer expires 1 December 2009. That means you must settle on your new home before that date. So if this is something you are interested in, you should be shopping and deciding on a home now, or very soon.
To see a short video explaining the $8000 tax credit for purchasing a home