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Fountain Hills and the Stimulus Bill

By
Real Estate Agent with ReMax Sun Properties

There’s lots of rhetoric about the stimulus bill but what does it mean for you and I?

 

• If you are a buyer looking for a home up to $900,000 you will not have to pay for a high cost jumbo loan. Loan limits for conventional loans will be $729,750. This is meant stimulate the market for higher end houses like the $800,000 to $900,000 range, where only 11 houses sold in Fountain Hills in 2008. Sellers in that price range may begin to see more activity.

• If you have never owned a house or if you not owned one in the last 3 years you will receive an $8000 tax credit which will go towards lowering your federal income tax. You will not need to repay it.

• Stimulating investors back into the market has been addressed by allowing them to mortgage as many as ten properties, up from four. With 30% down there are strict guidelines regarding qualification.

 

If you have been waiting in the State of Indecision now is the time to make your move. These measures are temporary. They have been enacted to stimulate people to take action. If you remain in the State of Indecision you may well end up in the State of Regret!