According to CNNMoney,
More than 1.4 million Americans have already claimed the new tax credit for first-time home buyers, according to a report from the Internal Revenue Service.
This is the kind of action that the Northwest Suburbs needs to kick off a healthy fall selling season. If we can get the the first time buyer homes moving, then properties at the second rung, i.e. “move-up properties” will be able to sell their homes.
Plus, if first time home buyers are feeling confident enough about the economy and their job security to purchase a home, then we may be seeing a change in consumer sentiment in general. Could this be the beginning of the end of the recession? It is difficult to say, but if the tax credit is extended into the spring and buyer activity continues to increase, we could see continued stabilization in pricing.
