Friday, September 25, 2009

GOOD NEWS: $250K and Below Home Market Stabilizing

The National Association of Realtors now reports that there is only a 2 month inventory of new and used homes in the $250K and below range. This market is therefore stabilizing, and in some areas, already moving quickly.

This price range is historically the market for First-Time Home Buyers (those who have not lived in a property that they own during the last 36 months). Buyers who want to take advantage of the Federal $8,000 tax credit and their Realtors need to remember that this program ends November 30, 2009. The sales transaction must close by that date to qualify.

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