Enhance tax credit to help economy builders say

Search for a home

The National Association of Home Builders are seeking enhancements to the current $7500 first time home buyer's tax credit.

In the news release asking Congress to fix housing first, the home building association offered the following suggestions:

• All primary home purchases between April 9, 2008 and Dec. 31, 2009 would be eligible.
• The credit amount would be increased to 10 percent of the price of the home, capped at 3.5 percent of FHA loan limits, bringing the credit to a range of roughly between $10,000 and $22,000.
• The current recapture provision would be eliminated. Repayment would only be required if the home were sold within three years.
• The credit would be available at the time of closing, making it easier to be used as a down payment.

According to the Association, "restoring demand for housing is the fastest and most effective way of reviving the economy."

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Buy a home that is less than 10 years old

How can I view new homes?

I would not buy a house in Florida.

I would not buy a house in Florida without first consulting with, and then using, the services of a real estate agent. Why is it important to take advantage of the skill and professionalism of a full-time agent when buying a house in Florida, especially now?

There are several reasons and they all involve money. Let's look at a few of those reasons.

• The excessive home inventory, in nearly every Florida market, require the assistance of an agent to help sift through all the available homes for sale to find those that match your desired criteria. This will save you time, and time is money.
• Price comparison. Let's say you are interested in a home in a certain neighborhood. Before making an offer on the home, you might want to know what the sales price of similar homes, in and around the area, have been. Your real estate agent can find out what comparable homes in the neighborhood are listed for, and what some homes sold for. They will also be able to tell you if there are short sale situations or bank-owned homes for sale which, when sold, could drastically lower the future value of the home you are interested in.
• Mortgage Information. The mortgage industry is experiencing issues of its own as a result of the current real estate market. Your agent can introduce you to trusted sources in the lending industry which will allow you to compare available programs in order to find the best rate, down payment, closing costs and loan terms.

If you are going to buy a home, having a real estate agent assisting you through every step is an advantage that you should not pass up.

Related Florida real estate views:

Why would anyone offer to buy a home at list price or above in this market?

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- Greg Staker, Watson Realty Corp. 407-304-0255

Home builders building fewer homes

In the wake of fewer home buyers and rising inventories, new home starts fell in February according to a press release from the National Association of Home Builders.


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- Greg Staker - Watson Realty Corp. - 407-304-0255

New home builder incentives

ICI Homes has entered all Volusia County area Realtor's names who had customers go to contract with ICI Homes between March 1 through June 30 in a drawing to win a 2007 Mercedes-Benz GL 450.

Related Florida real estate views:

New homes planned for Deland

Buyer's demand for new homes remain low during peak season

Is customer service improving as the market weakens?

- Greg Staker Watson Realty Corp. 407-304-0255