February 12, 2009
2009 Stimulus Package - Finally!
The Economic Stimulus Bill (The American Recovery and Reinvestment Act of 2009, H.R.1) has been reconciled by the House and the Senate and the final result does not appear to have the “punch” the real estate industry was hoping to see. While details have not been finalized, the Homebuyer Tax Credit looks like it will be a $7500 tax credit that will be available for qualified purchase of a principal residence by a first time homebuyer between 1/1/2009 and 9/1/2009. The credit does not require repayment. FHA, Fannie and Freddie – While specifics have not been released, initial reports indicate that the 2008 limits have been reinstated for 2009 except in those communities where the 2009 limits are higher. Additional increases in individual communities may also be available at the discretion of the HUD Secretary. With an ever increasing inventory of property listings in Walworth County, buyers can expect a favorable buying climate while sellers should seriously consider their expectations – financial and otherwise – before placing their property on the market. At Keefe Real Estate, showings are up, buyers on the whole seem to be serious and qualified, and we are definitely getting offers. If you’re looking for property in the Lake Geneva, Williams Bay, Delavan, Elkhorn and Delavan communities, it’s easy to see all listings 24/7 at www.SellingLakeGeneva.com.
Posted By: 
Janis Hartley
Tagged With:
delavan,
economic stimulus bill,
elkhorn,
lake geneva,
real estate industry,
stimulus package,
tax credit,
walworth county
and williams bay
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