The Senate will consider a bill early this week proposing an Tax Credit extension and expansion due to expire November 30^th. The tax credit has been for first time buyers only and for $8000. This bill which is due to hit the Senate for a vote by November 3^rd will extend that deadline until April 30^th 2010 AND will add another tax credit for “move up” homebuyers. That credit will be up to $6500 IF that buyer has owned property within 5 of the last 8 years! And the income limits have been raised. 

There are many homes in Chapel Hill and Durham available in the "move up" category!  Don't miss this opportunity!  We can set you up to receive regular instant MLS updates on houses as they come available.  Email us or call us to discuss your criteria so we can best serve you,  Or search on your own here. 

See the details below:

 Beware townhouse owners!  Check with your Homeowners Association or Property Management Company to see if your townhome's structure is properly insured in case of fire!  You may think you are insured but there are more and more HOAs not covering property insurance - just liability on common area.

 Loans for the higher end houses have been hard to get since the economic crunch began.  Good news is that banks are beginning to ease up a little on the recently imposed stringent requirements and rates.  And there is a prediction from our loan officer that the easing will continue.