An Afternoon of Real Estate News in Denver
Update July 2: President Obama today signed the 3 month tax credit extension. Again, this is just for home buyers that were under contract by the April 30th. Many were unable to close by the June 30th deadline, this September 30 extension will give them additional time to close. Read more here: Obama Signs 3 Month Extension of Homebuyer Credit
Update July 1: The US Senate passed the tax credit extension yesterday. It is expected to be signed by President Obama today.
Read more here: Congress Backs home Tax Extension
Case-Shiller Index shows Denver real estate values up again
I heard earlier this afternoon that the latest Case-Shiller Index is out and as you can read here very nicely at Inside Real Estate News, this is the 6th month that home values in the Denver real estate market are up. There were many factors that have fueled the Denver real estate market lately and all of these have to be taken into account. This can be a time where we can be caution-ly optimistic. As mentioned in the article, the report with May’s numbers is going to be very interesting.
First Time Home Buyer Tax Credit Extension back on the table
And as I was starting to type that up, a second piece of news that affects home buyers even in the Denver real estate market – the $8,000 home buyer’s tax credit once again has hope of an extension from the end of June to September. As I wrote a bit ago as an update on my previous piece on the extension: The House has approved by a vote of 409 – 5 to extend the deadline of the $8,000 tax credit until September 30, to buyer’s already under contract (not for new buyer’s at all). This is not final yet by any means. It is expected to be voted on tomorrow by the Senate. Read more here: BusinessWeek
So there you have it – good news for home buyers if you were still waiting for loans to go through if you already qualified for the $8,000 Tax Credit – there is hope, stay tuned, hopefully there will be more news for you tomorrow.
But if you haven’t bought that home yet in the Denver area, it is time to think about it since the Denver real estate market is looking better. But as I mentioned, things vary – what may be up in one neighborhood may not be things are just as good in another. Let’s talk about and see what is a good move for you. Sometimes it still is no move, and if that is the case, I will tell you.
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Steve Scheer, REALTOR®
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