Housing Credit for 2010
The $8,000 housing credit has been extended for 2010. There are also some new credits available to people moving–even if they have already owned a home.
Given the number of homes on the market–particularly the number under foreclosure–this can be a great time to get a very good deal. Lenders are much more careful, so if you buy a house that requires some fix up, you won’t be able to take cash out at closing as you could before. Still if you have some cash on hand, buying at house that needs some tender loving care can be a great deal because many potential buyers can’t buy it and have enough money left over to do necessary repairs.