Greetings from Steamboat,

Recovery is occurring on a national level. A little slower in Steamboat Springs, but things are looking more optimistic.  

First off, some great news came out this morning regarding the stimulus plan for home ownership.  President Obama signed the bill that extends and expands the First Time Homebuyer Tax Credit of $8,000 (click to read more). In order to qualify, the purchase contract will need to be signed by April 30, 2010 and then close by June 30, 2010. Also, homebuyers that have lived in their prior residence for at least five years may receive a credit of $6,500. In addition, the income limits have been increased to $225,000 for couples and $125,000 for individuals. We have seen a lot of people take advantage of this credit and are excited to see more first time homebuyers enter our housing market. And if you take a look at the price chart attached, you will so that properties priced under $500,000 have been by far the most active price range in our market.  This stimulus has also been prevalent in the actual transaction amounts.  Usually this time of year we are seeing a decline in transactions, this September we saw in increase.