At least 81 people have put in a bid on a North Park home in just the last 10 days! Yes, it is a foreclosed home. Yes, it is priced at a very attractive value. And, yes, at least 80 families will be disappointed as the home will be sold well above the asking price at some undetermined date in the future.

Very low mortgage interest rates, very low inventory of available homes for sale and very attractive pricing are bringing out qualified buyers in great numbers. Add to that great list of reasons, State and Federal Tax Credits and who can afford to sit on the sidelines today? Your home buying dollar has never gone farther or brought you more.

San Diego home sales are HOT! Brookfield Homes stands ready to help you with all your home buying questions and has homes available today in great markets at once in a lifetime pricing. Stop by our professionally designed model homes and talk with one of our friendly sales counselors.

Sales are up.  Inventories are down.

Conforming loan amounts are up.  Mortgage loan rates are down.

Tax credits for purchasing homes are up.    Prices are down.

And, while many talking heads are still babbling about the bubble bursting in the real estate industry, savvy buyers are quickly and efficiently buying the homes they never dreamed they would be able to afford.  This trend is starting to get noticed by the more sophisticated media.

Yesterday, CNNMoney.com posted an article stating there are signs of a reawakening in the housing market in California.  “Signs of Life in California Real Estate” discusses how the increase in sales, lower inventories, lower prices and lower mortgage rates could be turning around the real estate markets of California.  Les Christie says “all of those factors add up to a more optimistic forecast for California, which is seen as a harbinger of things to come for the rest of the country.”

From personal experience, I can add that there is an improving level of consumer confidence exhibited by prospective purchasers visiting the sales offices of our San Diego and Riverside new home communities.  Questions about state and federal home buying tax credits, loan programs and delivery schedules are opening topics in our model homes.  Frustration with the lack of responsiveness to short sale and foreclosure offers have buyers looking more seriously at new home offerings.

Whatever factors have sparked your interest in new homes, realize that now is a great time to buy a new home and visit a Brookfield Homes community for more information.

Tax Credits

Did you hear about the new, higher, conforming loan limits?

First, the American Recovery and Reinvestment Act approved an $8,000 Federal Tax Credit for first time homebuyers.

Then, California approved a $10,000 Tax Credit for new home purchases.

Government Money!

Now, we have another benefit from the American Recovery and Reinvestment Act … a return to higher loan limits for Fannie Mae and Freddie Mac! The new loan limit amounts are going back to the 2008 levels. That means up to $697,500 for a home buyer in San Diego County and up to $500,000 in Riverside County. These new loan limits apply to all conforming loans originated in 2009! Match that new loan limit up with fantastic pricing, historically low interest rates and your buying power today is stronger than ever!

Then to sweeten the pot, California will give you a $10,000 tax credit for the purchase of a new home and the Federal Government will give you an $8,000 tax credit (subject to certain limitations and time frames.)

See your Brookfield Homes Sales Professional for more details. Let us try to match you up with the right home and the right deal.