Homebuyers Tax Credit Stimulus Ending Soon

Real estate agents and mortgage brokers have noticed a sudden increase in the number of people who want to buy a house. This is because the first time homebuyer tax credit scheme is drawing to a close, and people have less than two weeks left to finalize their contracts for purchasing a house. [Read more…]

Optimism Resurfaces for US Economy

The U.S. economy is steadily on its way to recovery is the theme of a 14-page report in The Economist. It is not just the view of the reputed magazine, but something that is being talked about now with greater certainty than ever. The year 2009 saw policy makers swinging into action to bring relief to the nation’s financial markets.

The report confirms what trade pundits have been reiterating over the past few months. The stimulus measures also seem to be working slowly and steadily. [Read more…]

OECD Urges Countries to End Stimulus

The Organization for Economic Cooperation and Development has urged countries to gradually stop the fiscal stimulus measures within 2010. The OECD stated that economic growth will continue during the first half of 2010, albeit at a slower rate. This will be preceded by a decline in supply and an end to additional borrowings. [Read more…]

How to Meet Deadlines for Getting Home Buyer Tax Credit

There is a new federal scheme that gives tax credit to those who buy a house this year. Home buyers, who have not owned a house for the last three years, will get relief of 10% of the sale price of the house or $8,000, whichever is lower.

Those who have not owned or resided in any principal residence for at least five consecutive years during eight years before the purchase of the new house, will get a benefit of up to $6,500 under the tax credit scheme. [Read more…]

Tips on Closing a Good Deal in the Current Housing Market

Many analysts agree that this is the right time to buy a house as property prices have fallen significantly and interest rates are close to their all time lows. The enormous ups and downs of the last few years in the real estate sector have now given way to a quieter market, which means you can take your time to assess a deal and have greater control over your choice. This benefit was almost completely absent a while ago as you had to move fast to close a good deal. [Read more…]