Sunday, March 15, 2009

Words of the week: FHA, tax credit

First-time buyers are really out in force. Lines of people have been snaking through the open houses that I've attended, piles of broker cards are at every listing, and properties are going in multiple offers.

I think this is due to three things: the availability of FHA loans for first-time buyers, the low interest rates, and the $8000 tax credit offered to first-time buyers. Plus, I think people are feeling optimistic again. Could the worst be over?

The one thing the local r.e. market needs now is more inventory.

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