HOUSING STIMULUS

What Buyers, Sellers And Homeowners Need To Know Now

If you’ve been keeping up with the headlines over the past couple of years, you’ve no doubt heard about some of the new government programs and initiatives designed to help stabilize the nation’s housing market.

From the Mortgage Forgiveness Debt Relief Act of 2007 to the Housing and Economic Recovery Act of 2008 to this year’s American Recovery and Reinvestment Act, the government has devised policies to ease the financial situation of those affected by foreclosure, to help people stay in the homes they own and to encourage home purchases by qualified buyers. Most recently, President Obama’s Homeowner Affordability and Stability Plan, announced in February, offers yet more opportunities for homeowners who have had difficulty refinancing their homes or are at risk of losing their homes to foreclosure.

Could any of these new programs help you? We’ve dedicated this special issue of your newsletter to help you find out if -- and how -- you can take advantage of the new opportunities to buy a home, save money as a homeowner or ensure that your mortgage payments are affordable.

Latest Updates: The information provided here may change by publication time, so be sure to call us for updates or for answers to any questions you may have. We’ll be happy to talk with you! Of course, we always recommend consulting a qualified tax professional or financial advisor about your particular financial situation.

New Market, New Programs Have Impact

The local housing market is picking up. Here are some area trends we are watching that will create even more activity throughout 2009:

• First-time buyers are coming back (with low-down-payment financing and payments less than rent).
  
  
• $8,000 first-time buyer tax credit with no payback required.
  
  
• Home sellers are making up for lower sales prices when they buy.
  
  
• Parents and grandparents are helping kids buy their first homes.
  
  
• Investors are picking up properties that create positive cash flow.
  
  
• Refinancings are putting more money into homeowners' pockets.

Page  1 2 3 4

Back to Scottsdale Real Estate Web Site