1. First-time buyer tax credit ($8,000 or up to 10% of the cost of the purchase)

2. Mortgage rates remain near historical low (around 5.6%)

3. Best affordability and prices since 2003-2004

4. Better choice of inventory – distressed, resale, new

5. Motivated sellers may be more willing to give concessions

6. Federal, state, and local grant or assistance programs offer Low down-payment programs

Related articles by Zemanta

• Nearly Half of Home Buyers Unaware of Tax Credit (usnews.com)
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• Low Rates Greases 3 Months of Rising Sales (hsh.com)
• $8K Tax Credit CAN Be Used As FHA Downpayment (hsh.com)
• Can I Use My Homebuyer Tax Credit As A Down Payment? (hsh.com)

Filed under: Commentary, Real Estate Market, Tax Issues, West Hollywood