It is hard to feel positive with regards to today’s housing market specifically, and our economy in general, with all the bad press. Whether you’re planning to buy a home or already own one, take a look at the big picture where things can be seen in a more positive light.

The following chart provided by the national association of REALTORS shows that housing has become more affordable in the past 3 years while median income has continued to grow.  Median home prices are down nationally, rates are down too, yet income has still increased. What does that mean? It means more people qualify to buy homes … that’s good news!

If you currently own a home,  it can be depressing to think you have been losing ground.  When you look at the long term picture, however it is easier to see that real estate is a sound long term investment.

According to Northern New England Real Estate Network and New Hampshire Association of REALTORS:
Statewide from 1998 thru 2008 median price increased 84 %  from a median price of $127,500  to $235,000.  In Carroll County from 1998 thru 2008, median home price increased 116 %.

Median price in 1998 in Carroll County was $95,000 at year end 2008  the median price was $205,000.

All of this is good news for folks who live, work and play in the Mt. Washington Valley. If you do not currently own a home, talk to a REALTOR! They can help you find a home and can guide you to a lender who may be able to assist you in getting into a home … sooner than later!

The Basics of the Home Buyer Tax Credit:

Part of the  Stimulus package congress has passed  allows for a tax credit up to $8000 for first time home buyers. This is part of the overall plan to stimulate the economy and the housing market. This credit will help bring the American dream into reach for many buyers. Below you will find the basic facts about this program for more information call your neighborhood REALTOR.  Whether you’re planning to buy a home or already own one, take a look at the big picture where things can be seen in a more positive light.

• Home must be purchased before Dec 1, 2009
• To qualify you and/or your spouse may not have owned a residence in the past 3 years.
• This credit may be used for any primary residence including, single family  homes, condos, townhouses and co-ops
• Maximum allowable credit is $8000. Credit is based on purchase price and buyers income
• Credit is equal to 10% of purchase price and  not to exceed $8000
• Single buyers with incomes up to $75,000 and married buyers with  incomes up to $150,000 may receive the maximum of $8000 credit.
• Buyers over the above credit limits still may qualify for partial credits.
• There is no pre- purchase authorization
• This credit DOES NOT NEED TO BE REPAID

As you can imagine this is quite a benefit. Call your REALTOR today  to take advantage of these savings. Remember this is only available on homes purchased before  Dec 1, 2009 . For more information, talk to your REALTOR! ]]> http://www.the-buyersguide.com/blog/home-buyer-tax-credit/feed/ 1