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Arizona Valley Market Conditions

 

At valley market blog, we strive to bring you the most current information on the valley's market conditions. We also post special events such as model home furnature sales and their locations so check back often!

 

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Tax Credit ending in a few days
Thursday, April 22, 2010

Nothing too exciting to blog about except for the rush of "on the fence" buyers trying to get that list minute tax credit!

I am not a politician, but looks like there will be no extension this time. I havent heard of anything that has been prepared in Congress/Senate, and it seems like there would be a a bill that was under consideration to extend it.

The good news for Primary buyers (those going to use the home to live in full time) is that many of the banks that are selling the homes are placing restrictions for the first 15 days on the market that no second homeowners or investors are allowed to make offers.

A second homeowner or investor generally will be buying the home with either a conventional loan or cash. They generally won't qualify for an FHA loan, so the offer is a dead giveaway.

Cash buyers need to sign several disclaimers that they will live in the home as a full time resident, and they are not investors or second homeowners!
Posted by Brian on 11:45 PM • (0) Comments • (0) Trackbacks • Permalink • Email This Post
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