List your property now to take advantage of the expected new wave of higher income Tennessee buyers, the new program doesn’t require a buyer to be a first time home owner. Most experts expect this will improve the number of buyers in higher priced range homes. The program will go through next April/June-a purchase agreement must be finalized by the end of April, and closed by the end of June in 2010. The buyer can have substantially higher incomes, $125,000 for singles and $225,000 for couples.
The President will tomorrow sign into law a greatly expanded Federal home buying stimulus that should increase buyers in all price ranges up to $500,000 to $600,000. While the previous stimulus was limited to first time home buyers, and therefore had little impact on the Tennessee market above $250,000, this one is open to buyers who have owned their current home for five or more years.
