On April 5, Yahoo! published an insightful article detailing four things that mean big savings on real estate. Because these deals won’t last forever, there’s no time like the present to take advantage of a real estate steal!

Here’s what Yahoo! Real Estate called “4 Great Real Estate Deals That Won’t Last”:

• Lower home prices: It’s still a buyer’s market out there! Some real estate experts think prices will start to rise again this summer.
• Low interest rates: The Mortgage Bankers Association (MBA) believes that the rate on a 30-year fixed rate mortgage will increase to 6.1% by December. Buying a home before the mortgage rates increase could mean thousands of dollars saved over the life of the loan.
• First-time home buyer tax credit: The $8,000 tax credit will expire at the end of April.
• Repeat home buyer tax credit: The $6,500 tax credit will expire at the end of April.

To read the full article, click here.

Up to $8,000 for first-time buyers who qualify

Up to $6,500 for existing homeowners who qualify

The newly expanded Federal Tax Credit program makes now  a great time to buy a new home. Standard Pacific Homes is  ready to help you take advantage of this exciting new  opportunity.

Now, you may qualify whether you’re buying for the first time, or have owned a home for at least five of the past eight consecutive years.

• You must sign a purchase agreement prior to April 30, 2010, and must close before July 1, 2010.
• The income limit is $125,000 for single filers and $225,000 for joint filers.
• Available for the purchase of a principal residence with a purchase price of $800,000 or less.
• Tax credit does not have to be repaid as long as your home remains your principal residence for three years.
• Can be claimed on a 2009 or 2010 tax return.
• Tax credit for first-time homebuyers: Qualifying taxpayers can claim up to 10% of the purchase price. The maximum credit is $8,000, or $4,000 for married individuals filing separately.
• Tax credit for existing homebuyers: Qualifying taxpayers can claim up to 10% of the purchase price. The maximum credit is $6,500 if your previous home was a principal residence for five of the past eight years.

Visit our Raleigh-area neighborhoods today! Consult your tax professional for complete tax credit details. For a general summar, visit federalhousingtaxcredit.com.