Southern Arizona Housing Report for February 2010

http://azhousingstats.longrealtyblogs.com/?p=337

Click on this link to find housing reports for the southern Arizona communities of  Tucson, Saddlebrooke (Tucson's Premier Active Adult Retirement Community), Oro Valley, Vail, Sahuarita,Green Valley and Sierra Vista.
Activity has been brisk early in this new year.  If you are in the market and qualify, there is a first-time homebuyer tax credit up to $8,000.  If you are a move up buyer and meet the criteria, you can get up to a $6,500 tax credit for buying a personal residence.  To take advantage you must have a home under contract by April 30, 2010, and close by June 30, 2010.
In my opinion, I think that it is unlikely that the federal government will extend this credit beyond April 30th.
Interest rates are still low, but will likely head higher as the year goes on.
A tax credit can be explained as follows:  Suppose you owe the federal government $9,000 when your tax return is due.  If you were to qualify for the $8,000 tax credit by buying a home, your tax liability would be reduced to $1,000.  Tax credits are good things.  Contact your tax advisor to see if you qualify and ask for a complete explanation as to how it works.  Then give me a call, and I will help you find the home of your dreams.

Dan Sieverding
Long Realty Company
cell phone 520-909-9408
email:  dansieverding@wbhsi.net