Home Sales Increasing in the Valley

April 6, 2009 11:07:13 PM PDT
California's tax credit for new homebuyers is just one reason more people are looking for and purchasing houses. Once again, the sound of homes being built is ringing out in the Central Valley. Especially now that new home buyers are taking advantage of deep savings. More than 17 hundred new home buyers across California have applied for federal and state incentives since the program began on March first--so much so that Alan Yerxa is now competing for a new home.

With new tax-credit incentives new-home buyers can save up to 18 thousand dollars ? up to 10 thousand comes from the state for new home purchases and federal funds of up to eight thousand are available for any home purchase.

Here in the Valley applications for new home permits in Fresno increased from 75 in February to 127 in March. Clovis nearly doubled going from 32 in February to 63 in March.

Leo Wilson, President Of Wilson Homes says the housing market has been in a slump for nearly three years, but Monday with three developments that are completely sold out--now they are building more.

Builders say tax credits, low prices and low interest rates have people diving into the market.

Because tax incentives are likely to only last through the summer, many say now is the time to buy in order to get the most for your money.

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