Today is the deadline for offers to be signed from potential home buyers in order to qualify for the home buyers tax credit. The incentive is worth $8,000 for first time home buyers and $6,500 for repeat home buyers and transactions must be closed by June 30th to receive the credit.
Jill Veenstra from First Prudential of Pella Realty says the combination of low interest rates and tax incentives make now a great time to buy a home. She says the housing market in Pella has picked up significantly since last year and spring is often a time when many people are looking to move in or out so many homes will be on the market.
Vickie Agan from Prudential First of Knoxville Realty echoes Veenstra’s comment about it being a great time to buy in Knoxville. She says the housing market has been booming the last two months and there are a lot of affordable homes on the market. Agan adds that values are down significantly from 2 years ago, but seem to be stabilizing and she doesn’t anticipate any further decline in the market.