AS HOME sales increase due to pent up buyer demand in California, there has been decrease in number of properties available. This might be apparent that the bottom of the market might have hit about six months ago. Housing Predictor projects the California housing market to be in a recovery by late summer. Now, there are still areas that are depressed and still might see another 3-6% decrease in values.
It will take years for the Golden State to recover fully. Despite the credit crunch, an ailing economy, increasing foreclosures and growing unemployment California will join Florida in coming out of the housing mess. The growing volume of home sales is aiding the state’s recovery. A special $10,000 state tax credit for home buyers, $8,000 federal tax credit and the lowest mortgage interest rates on record are getting home buyers off the fence. MCC ( Mortgage Credit Certificate) is another source of tax credit that buyers can apply for if they qualify to get more tax credits and some city assistance program. Another one would be NACA a non profit organization that helps homebuyers and homewoners needing some government assistance.
