Lawmakers in Washington also added a $6,500 tax credit for other
primary-home purchasers and raised the qualifying income limits to $125,000
for single taxpayers and $225,000 for joint taxpayers, housing-industry
sources said.

Under the Senate panel compromise, buyers must have sales agreements in hand
by April 30, but they will have until June 30 to go to settlement, the
sources said. The measure still faces votes in the full Senate and the
House.

Don’t let the U.S. Government Keep Your $8,000
Earlier this year, the government offered an unprecedented $8,000 to prospective home buyers just like you to help them get into a home.
And on November 30th, they’re taking it off the table.

It’s up to $8,000 that you can use for a downpayment or closing costs on your next home purchase:
No Repayments if you live there for 36 months
No Interest, because it’s not a loan
No Strings Attached, you can even get the money up front
They couldn’t have made it any easier for you to get the money. The only problem is that in less than 80 days it goes away forever.
What’s worse is that if you don’t act soon, you could lose out all together.

I find this very interesting and I do agree that we need to do something to help Americans who are not making any money, however the bigger pictures is the housing industry. Based on a report that I was given $63,000 goes into the economy for every house sold. Of course that is over a period of years and includes taxes.

We must get the housing market going again and not just short sales or foreclosures, but middle America. We need a $15,000 tax credit to any buyer this next year. Please contact your Senators and Congressmen and ask for help with the housing market in terms of a credit for all buyers.

The general public thinks that if we wait for a year the market will get better. Today we head from the CEO at Re/Max. Dave Liniger stated as many others are saying that the next year in September the next wave of Balloon loans will mature and this will cause the foreclosure market to skyrocket.

He also said that the next 2 years will be like this year and we will not be in recovery for at least 3 years. So, with this being said if you need to sell your home, and decide to wait, the chances of the pricing being lower next year are almost a sure thing. The media is stating that home sales went up last month.

What they did not tell you was that the majority of the sales were short sales and foreclosures. If you need to sell you home, do not wait as that may be more expensive then you think.

Well think again with the new laws regarding the bank appraisals. How many homeowners think their home is sold, then are stunned when the home does not appraise out. So how far has the pendulum gone the other way?