- Texas home prices remain stable and a home is a good investment.
- FHA loan limits have been raised temporarily.
- Receive up to $8000.00 tax credit on homes purchased before December 1, 2009
- Interest Rates are LOW!
1. Texas Home prices remain stable. Nationally, home prices dropped 4.5 percent last year for the overall index (which includes financing and re-financings) and 8.2 percent based on purchases-only data. But latest home appreciation rates released by the Federal Housing Finance Agency (FHFA) indicated Texas fared well in 2008, especially compared with the rest of the country- in fact Texas home prices increased an average 2.1 percent last year! What does this mean for you...a homeowner or a new
homebuyer? The Killeen-Temple-Ft. Hood area home appreciation rates were up by 2.5%, this means that owning or buying a home in the Central Texas area is still a good investment!
2. FHA Loan limits have been raised temporarily. If you qualify for a FHA loan, FHA Loan limits for the Killeen-Temple-Fort Hood Area increased from $200,160.00 to
$271,050.00 for a one-unit property. This temporary new increase is established for 2009 under the American Recovery and Reinvestment Act of 2009 and allows homebuyers more flexibility in choosing the right home.
3. Receive up to a $8000.00 tax credit on homes purchased before December 1, 2009. As mentioned in our last month’s newsletter…. First-time Homebuyers can claim a tax credit worth $8000.00 - or 10% of the home’s value, whichever is less on their 2008 or 2009 tax returns. To qualify for the credit the home purchase must be made between January 1, 2009 and November 30, 200, the buyers must be First-time homebuyers (may not have owned a home for the past three years), and they must live in the home for at least three years or they will be obligated to pay back the credit. For more information visit www.federalhousingtaxcredit.com.
4. Interest Rates are low. Interest rates are the lowest they have been in the past five years. Lower interest rates mean lower payments and puts money back into your
pocket for other expenses. Owning a home is a good investment.
