Monday, February 22, 2010

Round 3? A Look at the Home Buyers Tax Credit & What's in Store for North Shore Real Estate

They said it wouldn’t happen again, but as lobbyists begin converging on the steps of Washington’s most decisive building; it’s time to wonder if the Home Buyers Tax Credit will be extended once again. Many have asked if the whole process has been effective thus far and after viewing the North Shore real estate market; I would say it has been!

First time home buyers have gotten the chance to dive into the real estate market at a time when they would have otherwise stayed clear of the mirky waters. Although the market has been improving, the thought of buying a home in today’s market would have been non-existent for new home buyers had it not been for the tax credit.

With that said it seems only reasonable to keep this trend on a roll and offer the extension again to both first time buyers and existing buyers as well. However, many would disagree. Senator Johnny Isakson, who originally helped push the deal through Congress by making it clear that it would not be extended again, notes that doing so would be a “nonstarter.” It’s said that he currently does not have any plans to offer any legislation to ask for an extension. Isakson’s spokeswomen added that, “Part of the benefit of the tax credit is the urgency of its sunsetting.”

So, what will this mean for the North Shore Real Estate market? It seems that we will have to wait and see what Congress decides. However, being optimistic, I feel that the North Shore market is on the rise. With or without the tax credit being extended again, now is a great time to buy!

It’s a buyers market and I know of many beautiful homes in Chicago’s North Shore area that I would enjoy showing you! There is still time, ten weeks to be exact, to cash in on the current tax credit offer. First time buyers and current home owners can all take advantage of this deal. Since the future of another extension has yet to be determined, don’t waste any time in starting your search. Please contact me today to find your new North Shore home!

Janie Bress
Your North Shore Real Estate Expert

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