The government passed yesterday the Housing & Economic Recovery Act 2008 which - despite the stability of the Central Ohio Real Estate Market - is designed to stabilize the national housing market and reform certain aspects of the mortgage industry.

The bill plans to, through tax credits - such as a $7,500 credit for first time homebuyers,  which should be a welcome tax credit and give the national housing picture a boost as well as through reform of the Federal Housing Administration backed mortgage loans (FHA Loans) the availability of these loans is going to be increased, as well as the criteria - which was previously restrictive - expanded. See: New Albany Real Estate: Its All About the Financing…

The National Association of Realtor’s has long pushed for reforms and improvements to the homebuying and mortgage industry to help enable more people to own their own home. When searching for a property it is important to use a Realtor as they are members of the national association of Realtors, the largest trade organization in the country with over 1.2 million members bringing professionalism and a strict code of ethics to the industry..

If you are thinking about purchasing a property in New Albany and the surrounding central Ohio communities - after all, now is the time to take advantage of the real estate market, with rates low and a good selection of property available for purchase there is no reason not to buy! Contact the Raines Group for professional Real Estate advice.

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