The U.S. housing market is rebounding faster than expected as sales have jumped 7.2%. Florida has reached its 11th straight month of increased home sales. Of course the prices of homes has fallen 19%. First time home Buyers are accounting for 1/3 of the purchases with the first time home buyer credit, which also applies if you have not owned a home for 3 years. This credit is 10% of the purchase price of the home up to $8000. Singles must earn less than $75,000 per year, and couples less than $150,000 per year to qualify. This tax credit is only good until the end of November as a closing date. This means you must be in contract no later than Oct. 15th if one is financing through a mortgage lender or are purchasing a foreclosure. Please note, I said a foreclosure...NOT a short sale. If you desire a short sale, you can expect to wait several months and then some. Now is certainly the time to jump on the bandwagon! Call your favorite realtor to have them start e-mailing you all the great home deals out there today!
