Home Buyers May Hit a Home Run This Spring!
On Wednesday February 5th, 2009 the Senate included an amendment to the Economic Stilulus Bill that could signal a recovery for the Real Estate market sooner then we all think. The amendment would provide a Tax Credit to all home buyers of 10% of the purchase price up to $15,000! This would be available for a one year period to all purchasers of primary residences.
In addition, Amendment 353, would provide 30 year fixed financing at a rate of about 4% for anyone purchasing a primary residence!!!
If these two provisions pass, this could spark a dramatic turn around to the Real Estate market in many areas of the country, and right here in the greater Chicago and Naperville area. Please stay tuned for further updates as President Obama and the Senate work to expedite passage of the Economic Stimulus Bill.
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