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Bob Travers Knows Fairfield County Real Estate!
Buying or selling a home in Norwalk, Wilton, Westport, Stamford or Weston?
As a top-producing Connecticut real estate Broker since 1987, I have
provided award-winning service to hundreds of satisfied home buyers and sellers in Fairfield County.
| CURRENT ECONOMIC NEWS |
February- The Bill was signed to extend and expand the homeowner tax credit. The credit will remain at up to $8000 for 1st time homebuyers (those who have not owned a home in the past 3 years) and $6500 for repeat buyers (those who have owned their current home for at least 5 years). The credit may not be used for homes costing over $800,000. Purchase agreements must be signed by 4/30/10 and closed by 6/30/10. Income restrictions apply.
The extension of the tax credit will provide a healthy tailwind for the real estate industry once the 2010 selling season begins. A full recovery remains precarious, however, given the sizable number of potential foreclosed homes that may come onto the market.
Another potential headwind for home prices is rising mortgage rates which could boost the overall cost of owning a home. The rate on the 30-year mortgage broke above 5% recently. If demand for U.S. debt wanes, it could send rates even higher.
While low interest rates and government incentives are still available, now is an excellent time to be a buyer in this market. No telling how long these incentives will remain in place. |
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For information on real estate activity in your neighborhood,
click on Market Updates.
Here you will find a report detailing homes currently for sale, under contract, and recently
sold in Norwalk, Connecticut. This exclusive report provides the most complete, up-to-date
information available on the Internet today.
Also you will find current market statistics for Westport, Wilton, and Weston.
These reports are updated frequently and can also be sent directly to your
email address. Simply fill out the form.
Bookmark this page and return to it often to keep abreast of current
economic news that may affect the real estate market in the Fairfield County, Connecticut area. |