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Homebuyer Incentives Could Stave Off Typically Slow Time of Year for House Hunting

The holiday season is typically a slow time for the housing market, but that could be different this year. Vickie Agan, broker at Prudential First of Knoxville Realty says she’s seen a slight increase in fourth quarter home sales, adding that the extension of the Federal home buyer tax credit program and the addition of a $6,500 credit for qualified established homebuyers will get people thinking about buying a new home.

Jill Veenstra, an agent with Prudential First of Pella Realty, agrees that now is a good time to move up. She says the combination of the Federal incentives with low interest rates make now a good time to buy a new home and thinks the housing market will continue to see a steady improvement. The recent extension and expansion of the program applies the benefits to more potential home buyers and gives them until April 30, 2010 to take advantage of the tax credit; with a closing deadline of July 1.