There is some positive news brewing these days for the real estate industry, and we're keeping our fingers crossed that things continue to move forward in this direction very quickly. We are receiving news that the original credit in the stimulus bill for the first-time homebuyers may be extended, AND the extra good news is that the bill may offer additional assistance to "move-up" buyers.
The current first-time homebuyer credit is set to expire at the end of November and the Senate sources told CNN they have tentatively agreed to extend that $8,000 credit for first-time buyers until the end of April. In addition, they are adding a $6,500 credit for some current homeowners who buy a new residence by then. For the full article from CNN, Click here.
If this passes, we hope to see many of those buyers get off the fence and make a move.