Our weather has broken and sunshine is a welcome reprise from the bitter cold. As our good fortune would have it, our nice weather is going to stay for the next few days. Try and take advantage of some of Indianapolis' great parks and trails during this time.
Last week was a steady week for sales, 177 homes went under contract in Marion County and 62 went under contract in Hamilton County.
The "Fix Housing First Act", which is part of the Senate's Economic Stimilus Bill is now in front of the Senate and waiting for approval before being sent to the House. This is an Act that would have far reaching effects and would certainly go a long way towards ending the free fall of our nations housing industry. Passage of this Bill by both the House and the Senate would be a giant step towards ending the country's current economic woes. In my mind this part of the Bill is the first real attempt thet I have seen towards an actual solution for the housing market woes. This bill includes a $15,000 tax credit for all homebuyers, the reduction of interest rates on 30 year fixed mortgages to 4.5-4% and other important conditions that would quickly stimulate the housing market and this country's economy. Confusing? I don't think that it will be too confusing once it is said and done but if you want to read the bill (All 680 pages) you can view it by clicking here.