San Diego homeowners and housing market swimming in change

March 6th, 2009 Categories: Real Estate News, San Diego county Real Estate News

SAN DIEGO– WOW!!! There has been so much activity pertaining to the housing market in the last couple weeks that I would be nuts to even try to wade through it all on my own. I do feel though that I do need to try to provide good and accurate information here. So here we go.

There is the “Cram Down” legislation also known as ‘Helping Families Save Their Homes Act’ which will allow bankruptcy judges to rewrite mortgages. Then there are two new tax credits that are applicable to Californians. One is the federal tax credit for first time buyers and the other is a California tax credit on new home purchases. Next, there is the housing act just announced this week, broken down here by USATODAY. I will say that this act will most likely have limited impact here in the San Diego area, but I’ll leave this to them.

Lastly, this is probably the best one stop source for all that is happening. It is a QnA from the California Association of Realtors. If you have a question they have the answer.

GO HERE with your questions about the housing act and tax`credits

If this link is dead send me an email and I will email you back the direct link. It is off and on.

This entry was posted on Friday, March 6th, 2009 at 3:08 am and is filed under Real Estate News, San Diego county Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Comments »

Million dollar views for the first time buyers said:

[...] pricing back to levels creating a near record high affordability rate and the $8,000 tax credit, it’s no wonder these buyers are entering the [...]

# 15 April 2009 at 11:35 am

San Diego home prices UP 50% in last 4 years said:

[...] the San Diego first time home buyer who is already being drawn into the real estate market with incredibly low 30 year fixed interest rates and tax credits of [...]

# 15 May 2009 at 7:07 pm