The world of real estate has seen a surge in home buying as sales rose in March by 6.8%, which many attest to the the home buyers tax credit. It seems that many buyers were jumping in just in time to get in on the $8,000 incentive before ending at the end of this month. So, the question that seems to be looming is “Will the government offer another home buyers tax credit?”
According to the National Association of Realtors, a recent report gave a resounding “No” to this question. Since the tax credit had already been expanded and extended twice since it’s conception two years ago; it is very doubtful that this will be extended again. A spokesman for the National Association of Realtors (NAR) notes that, “It’s time for the housing market to stand on its own two feet.” It may be that we are seeing an increase in the housing market activity that we no longer need the push from the government.
However, California has offered a tax credit of $10,000 (see our previous post from Mortgage Advisor Andy Block) and is willing to walk with its’ residents a few more steps of the way.
If you have any questions on the California Tax Credit, please let us know! We have been in the San Mateo Real Estate market for a while and are up to date on all the latest happenings. It can be tricky to navigate through and we are committed to helping buyers or sellers every step of the way! We look forward to hearing from you soon!
Kathy & Michael Rain
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