What’s Happening with the First Time Homebuyer Credit and How it Helps Everyone in Fairfield County

December 21st, 2009 categories: Buying Your House, Ridgefield, Selling Your House, Wilton

Jay Papasan tells us the latest on the home buyer tax credit (see his embeded YouTube below). The stimulus credit is providing incentives for buyers and sellers to participate in the market and it’s having a tremendous effect on activity here in Fairfield County. Even in towns like Ridgefield and Wilton, the credit is having a marked impact both directly and indirectly.

Since home values have fallen and mortgage rates are so low, I’m seeing many more 1st time home buyers looking to take advantage in towns that used to be a financial stretch. Indirectly, the home buyer credit is enabling many trade-up buyers to act since they are now able to get their existing homes sold in a reasonable amount of time.

All in all, the credit is helping all home sellers no matter if you at the “starter home” end of the spectrum or have a 5 bedroom colonial you need to sell.