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Home Buyer Tax Credit Extended

Chris DeJong - Bank of America - Well congress has passed the extension of the tax credit. It has been expanded to include anyone moving who has been in their home 5 years. Income limits have also been raised so that more people will be able to take advantage.

We are still waiting for all the details on FHA condo changes. There have been some announcements about compromises but I am waiting to see the actual letter.

Rates are holding at about 5 percent for fixed (Conv and FHA). Some a bit higher and some a bit lower depending on credit and such. 5 Year ARMS are still just below 4Pct. These are great for a first time buyer. If you have a listing that is tough to sell offer a buy down. Who wouldn't want to buy a house with 3 or 4 oct money. Ask me how and I will show you the numbers.

Good luck and Happy Veterans day

Chris DeJong - Bank of America

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