According to the Miami Herald on Tuesday, January 26, home prices are up and prices are stabilizing particularly in Coral Gables and the Roads Section of Miami. According to the Herald article, the National Association of Realtors predicts the housing recovery will gain momentum in the second half of 2010. The influence of historically low mortgage interest rates, plummeting prices and the various home-buyer tax credits such as the $8000.00 first time home-buyer tax credit are cited as the main reason for the recovery.
Qualified buyers who have signed a real estate contract to buy a primary residence by April 30 have until June 30th to close the purchase to be eligible for up to $8000.00 for first time buyers and $6,500.00 for repeat buyers.
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