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Berkshires, MA Real Estate: First-Time Home Buyer Tax Credit Extended
Richmond, MA (PRWEB) January 11, 2010
Economic and housing forecasts remain cautiously optimistic now in the first weeks of 2010, with current conditions making the first months of the new year an opportune time for home buyers to make their move. This holds especially true for historically strong regional markets such as the Berkshires, MA real estate market, which will be among the first to show signs of recovery.
âWhile the local housing markets in the Berkshires have of course been affected by the current economic conditions, long-term projections remain overwhelmingly positive,â says broker Cindy Welch of Richmond, MA-based Tucker Welch Properties. âBerkshire County homes have long been sought-after and because most of our communities here value the preservation of our rural setting, we havenât had the explosive real estate development that other regions in the country have had. This means we arenât burdened by an unreasonable amount of housing stock and the regional market will stabilize more swiftly.â
With mortgage interest rates expected to rise in the coming months and the First-Time Home Buyer Tax Credit extended until April 30, 2010, thereâs no better time than now to invest in Berkshire homes for sale. The January 2010 forecast from the National Association of REALTORS® (NAR) sees the 30-year fixed rate rising to 5.2% (from last quarterâs 4.9%) and to 5.4% by the second quarter of this year.
As such, home buyers who would like to take advantage of the still currently low interest rates as well as the tax credit (whose coverage has also been expanded to include buyers who are current homeowners), would do well to invest in Berkshire, MA homes now before the rates rise higher and the tax credit expires. To view a sampling of currently available Berkshire County homes and for more advice and information on investing in the Berkshires, visit http://www.tuckerwelchproperties.com.
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