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Stimulus Package for the Housing Market

Real Estate Agent with RE/MAX Results

These past few days I've been watching the news to see how the Stimulus Package will affect the Housing Market.  The latest I've heard is that the housing credit has been reduced to $8000 for first-timers only, but it doesn't need to be paid back.  This isn't as good as the $15,000 for anyone purchasing a home with no pay back, but sure beats the $7500 that has to be repaid.  Apparently, the stumbling block in Committee was if the credit was open to all buyers and the rational was to soak up the inventory, all the people who own homes and buy new homes would have their old homes to sell and that is not reducing inventory, just transferring it. 

How do you see this stimulus package affecting the real estate market?  For the Omaha realtors, where do you see the trend going for the Omaha market?

I'm trying to inform my clients of how this stimulus package will affect them, I would appreciate your input.

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