With President Obama's $8000 first time homebuyers tax credit and mortgage rates at record lows, qualified buyers are taking advantage of this offer and purchasing South Florida real estate
Weston, FL (PRWEB) April 20, 2009
Disillusioned by the 401K markets, first time homeowners are putting their eggs in a more-tangible basket… real estate. Roy Oppenheim, a real estate law blogger and owner of Weston Title, reports an increase in Broward real estate closings with first time homebuyers behind the wheel. Weston Title is a Broward title company offering real estate closings, title search and escrow services.
"With President Obama's $8000 first time homebuyers tax credit and mortgage rates at record lows, qualified buyers are taking advantage of this offer and purchasing South Florida real estate," said Oppenheim. "This initiative is the step that our real estate market needs. As homes begin to sell and transactions take place, the rest of the economy will follow, bringing US markets back to the upward slope of the valley curve."
The tax credit for first-time homeowners is part of a $787 billion economic stimulus bill recently signed into law by President Obama.
Weston Title reminds first time homeowners that the $8000 tax credit prerequisites and highlights include:
- Buyer must be a first time home buyer
- The home purchase must be a primary residence
- The home must be purchased between January 1, 2009 - December 1, 2009
- The $8000 tax credit does not require repayment
- The credit must be claimed on the buyers' tax return and will reduce their tax liability. If the credit is more than the tax liability, the unused credit will be issued as a check to the person claiming the credit
- If the buyer sells the home within 3 years, the entire $8000 tax credit will be recaptured
In addition to Obama's tax credit, rates on 30-year fixed-rate mortgages are as low as 4.6 percent, giving first time homebuyers a chance to cash in on the lowest mortgages rates of a lifetime.
Currently the selection of real estate is also at the buyers' advantage with an abundance of new homes, foreclosures, and pre-existing homes available. The new home market is flooded, which brings higher-end homes to an affordable price, and many pre-existing or foreclosed homes offer extra value for homebuyers wanting to remodel.
About Roy Oppenheim's Events and Workshops
An advocate for protecting homeowners facing foreclosure, Roy Oppenheim hosts monthly interactive workshops designed to provide insight to the options of preventing, defending or avoiding foreclosure. The next homeowner's workshop is scheduled for Thursday, May 7th, 2009 from 6:00 to 7:00 PM.
About Weston Title
Weston Title & Escrow is a trusted Florida title company providing Florida real estate closings, title insurance, title search, and escrow services since 1994. Offering services for first time buyers, short sales, foreclosure victims, and real estate investments, Weston Title offers the most timely, strategic, and educated guidance in Florida real estate transactions. Over the past 15 years, Weston Title & Escrow has closed billions of dollars in real estate transactions and has done so during some of the most lucrative and challenging real estate conditions.
Address: 2500 Weston Rd, Ste 404 in Weston, FL 33331.