Higher Loan Limits will make it easier for buyers in Castro Valley to get mortgages because those mortgages are more likely to be traded if they are considered conforming. The new law also includes a tax credit for first time home buyers worth up to 10% of a home’s purchase price but no more than $8,000.
First time homebuyers represent a significant segment of U.S. homebuyers. According to the U.S. Department of the Treasury, nearly half of the homebuyers in 2008 were first-time homebuyers. Hence, the new tax credit for first-time homebuyers, along with affordable home prices and historically low mortgage rates, should help spur the housing market
For a seller: With an increase in confidence and stability in the housing and financial markets more buyers will be coming into the market, increasing the demand for housing. Homes will begin to sell faster and housing prices are expected to rise again.
If you are looking to sell a home in Five Canyons Castro Valley, Palomares Hills Castro Valley or homes for sale in Castro Valley, please call me at 510-279-9580 and I would be happy to help you.
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