Yes, there is quite a bit of chatter out there about EXTENDING the tax credit. IN ADDITION to the extension, there is considerable effort towards EXPANDING the TAX CREDIT beyond FIRST TIME HOME BUYERS to include resellers/buyers.
The Expansion of the tax credit to 2nd or 3rd time homebuyers will likely provide incentive to people who have been sitting on the fence. This coming year, (if this passes), I would expect to see both the MEDIAN and AVERAGE home price INCREASE.
Does this mean RISING HOME VALUES? Im not so sure, but should bring some increased activity and some pressure on pricing moving UP, For pricing to move up significantly, We need more employment and more light in the ECONOMIC RECOVERY.
HOME SELLERS and HOME BUYERS, This could be "the perfect storm". If you have been thinking of a change, DOWNSIZING, UPSIZING, more land, less land, NEWER or what ever your goal, This could be the perfect time to make a change! With LOW INTEREST RATES, and signs pointing upward, placing yourself in your new home means, the appreciation comes in the HOME you want to be in for the next 10 years, not the one you have been in, and no longer suits you.
If I can help you PLAN your next MOVE, call me or visit me at http://www.FelidaHomes.com
You can also order a MARKET SNAPSHOT. It will show you the SALES activity in YOUR NEIGHBORHOOD, complete with listing and selling prices, averages, time on the market. Flyer information TOO!
HOME SALES IN YOUR NEIGHBORHOOD - The Market Snapshot
Always at your service,
Gloria Matthews, Jensen White Real Estate
here's an article regarding the pending legislation, below!