Agent Meatyard-Rice says tax credit working

Peggy Meatyard-Rice of Dauphin Realty is quoted in an article by Kathy Jumper in the Sunday Press-Register as saying “They (buyers) are coming out of the woodwork.”  This is due to the recently announced $8000 tax credit to first time homebuyers as part of O’Bama’s stimulus package. Plus people understand the housing prices in Mobile have pretty much “bottomed out” and now’s the time to buy.

She goes on to say, “the majority of her buyers are financing their homes with FHA loans at mortgage rates of 3.5 percent, and buying homes in the low $100,000s or below.”

She predicts the values in that price range will increase as more buyers use the tax credit.

“People are going to pay a lot closer to full price and eventually start getting into bidding wars.” For the full article, see Tax credit brings buyers ‘out of the woodwork‘ – al.com.