The newly passed $787.2 billion stimulus package will have an effect on Sylmar real estate in several ways. According to the California Association of Realtors, the legislation resets the conforming loan limit cap in Los Angeles County to $729,750, up from $625,500, and this will now be effective until December 31, 2009. This is good news for move up buyers in Sylmar.
Also, the first-time home buyer credit has increased from $7,500 to $8,000, and there is now no repayment requirement if the buyer lives in the home for at least three years. The first-time home buyer credit has also been extended from July 1 to Dec. 1, 2009. (Buyers must purchase a home between Jan. 1 and Dec. 1, 2009 to be eligible.) This is great news for renters in Sylmar who are interested in buying their first home.
If you are currently renting an apartment, condo or house in Sylmar, you owe it to yourself to explore the great possibilities available to you for buying a home of your own.
Right now in Sylmar and the San Fernando Valley, we have:
– Excellent selection of homes!
– Historically low interest rates!
– Amazing prices!
Put your money to work for YOU instead of your landlord!