Nesting: The New Trend In Homes
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While the home buyer’s credit has spurred people towards buying new homes, it still has yet to show the same stimulus for people wanting to upgrade their homes. As part of the home buyer’s credit extension, there is a tax credit now for existing home owners, but it’s only $6,500 compared to the $8,000 maximum for new home buyers. Once existing home owners take into account moving costs, additional utilities costs for bigger homes, and closing costs, many have made up their mind to stay put. This is especially true where real estate markets have depressed prices and they can’t get as much as they want for selling. Housing prices predictions show many homes have lost value in the market and will be slow to recover such that selling, even with a home buyers credit, is not going to be the best decision. Instead, a new trend is arising: nesting. (more…)
If you're new here, you may want to subscribe to my RSS feed. Want more frequent updates follow me on Twitter. Thanks for visiting!
While the home buyer’s credit has spurred people towards buying new homes, it still has yet to show the same stimulus for people wanting to upgrade their homes. As part of the home buyer’s credit extension, there is a tax credit now for existing home owners, but it’s only $6,500 compared to the $8,000 maximum for new home buyers. Once existing home owners take into account moving costs, additional utilities costs for bigger homes, and closing costs, many have made up their mind to stay put. This is especially true where real estate markets have depressed prices and they can’t get as much as they want for selling. Housing prices predictions show many homes have lost value in the market and will be slow to recover such that selling, even with a home buyers credit, is not going to be the best decision. Instead, a new trend is arising: nesting. (more…)
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