Tax credit coming to a close

The federal tax credit for first home buyers is coming to an end! The housing stimulus lasts up until December 1st. Will we see an increase in people buying homes? People are realizing that it's now or never to save up to $8,000 in taxes. Many may decide to buy now for the first time, with the pressure increasing. However, there may be more time to make such a decision according to an article on MSNBC. Several bills reside in Congress right now that propose extension of the tax credit for about another 6 months.

So what does this mean for home buyers? Do people need to buy now, or is there a good chance of an extension on the credit? These are questions to which many would-be first time buyers would love answers. However, the fact that Congress cannot even determine whether or not the stimulus has proven successful presents a problem.

The federal economic team struggles to put a finger on the positives of this federal expenditure. If they find out by December that the tax credit has been a worthwhile investment, we will most likely see an an extension. Otherwise, the tax credit for first time buyers might have run its course and buyers might want to look into saving some money on their first home.

The "hot" spots

If you'd like to buy a house or invest in real estate, you probably want to know where to look. Well doing a little research it looks like in order to find the hottest spots, you might want to check out some places that sizzle year round. Looking at the rankings by U.S News and an article on Kiplinger, the places that appeared in the top 10 of both rankings are Albuqurque, New Mexico and Austin, Texas. What makes these cities top notch is their solid economy, affordable living costs and job growth potential. If you are looking for areas with great opportunities, you might want to head south, where "hot" doesn't just describe the weather.