Pushing for Housing Tax Credit

Joe Perez — Fri, 23 Oct 2009 00:49:46 +0000

The National Association of Realtors’ V.P. Ron Phipps stated one of the most important ways for consumers to see a bright future in terms of the economy is for Congress to extend the $8000 home-buyers tax credit. The tax credit has already made an impact as home sales have increased an estimated 5.1 million for the year. Housing inventory has slowed down helping to stabilize house prices. Since the momentum takes awhile, there’s not a better time to build on that by the extension of the tax credit through next year.

The present tax credit is set to expire on November 30th. Those who are in contract now may not be able to take advantage of the credit and close by that time. A few other things that Philips is pushing for is to make the FHA, Fannie Mae and Freddie Mac limits permanent that were established for this year, keep the governments continued involvement in the secondary mortgage market, discuss the Home Valuation Code of Conduct’s side effects that are slowing down sales, and give incentives and uniform procedures for short-sales.

Will Rates Remain Low???

Joe Perez — Sat, 12 Sep 2009 18:08:12 +0000

According to a Goldman Sachs economists this week, the Federal Reserve will probably keep interest rates low to assist with keeping debt low and getting rid of debt. While some think the Fed will probably raise rates, the economists believe rates will be close to zero until the end of 2010 or perhaps even longer. One more year of low interest rates will probably be in the best interest of the economy and help continue to stimulate the housing market, which is still in need of more stimulation.

DreamTeam-Jo Cel Perez & Hector Gamez » Economy

Pushing for Housing Tax Credit

Will Rates Remain Low???