Hal Hovey

The Tax Credit program has now been extended to include properties under contract before April 30 2010, and expanded to include many current homeowners. There may be some seasonal drop in prices through the winter, but by the time the tax credit expires again next year the market may be on its way back up. The factor putting the most pressure on prices in the next several years is the possible wave of foreclosures that are forecast as Adjustable Rate Mortgages reset in the coming years.

With interest rates still at historic lows, and many motivated sellers, this is a great time to buy a home! - Wed Nov 25 2009, 23:23