Today we wrote a blog post over at our Santa Clarita Real Estate Forum blog about the extension and expansion of the home buyer tax credit. What was just a first time home buyer tax credit, is now also expanded to existing homeowners. You hear that Santa Clarita homeowners? This is great news for those of you who have any interest in selling your home in order to move up and purchase a different home.

The inventory of Santa Clarita homes right now is at historic lows. A Santa Clarita homeowner, with equity, or the cash to close a deal, could sell very easily in this market, and fast, if priced reasonably - NOT BELOW MARKET - just reasonably. Heck, decent homes are selling above market value right now in the right neighborhoods. The inventory is that low.

The inventory MAY not be THIS low for THAT long. It all depends on how many foreclosures have yet to hit the market, and how quickly they come at us. Today Fannie Mae released news that they would be giving homeowners the option to rent out their home, instead of foreclosing on them! They would do a deed in lieu of foreclosure. Less harmful to your credit. The point is, the government, both state and federal, have been doing what they can, to keep the inventory of homes low. When the inventory is low - home values don't fall as much.

This tax credit incentive, which will now continue once President Obama signs off on it, and will be much more flexible....will definitely be utilized by many buyers for the remainder of 2009, and into 2010.

Contact The Robert and Brian Team to discuss your Santa Clarita real estate questions and needs. You can reach us @ 661-964-1760. Or visit us at the best local real estate website available - TheScvAgents.com!

Check out our Santa Clarita Real Estate Forum blog post: Santa Clarita Home Buyers: Congress Passes Tax Credit Extension