Buying a home can earn you a tax credit ($5,000-$7,000)

Recently existing-home sales have been pacing the same as in 1998. Back then the numbers were a milestone, as for now it's completely different.

We have 25 million more people & 11 million more jobs and our mortgage interest rates are at historic lows. A crisis in confidence is what's keeping homes sales from rising. Buyers that can afford to buy are making the decision to wait hoping prices will continue to drop.These buyers will be very disappointed if congress passes a new tax credit, they have been considering. This tax-credit will be issued for owner-occupying buyers.

The outcome of this credit for new home owners will mean fewer homes on the market, which will lead to an increase in prices. The House and Senate lawmakers are looking at a $5,000- $7,000 credit.

Already we have been experiencing a pick up in the Newport Beach Real Estate Market. I believe the worst has passed. If this new law is passed you may have missed your opportunity.If you are looking to buy a home take advantage of the drop in prices before it's too late. As you well know in Newport Beach Real Estate is a genious investment.