Real Estate News Overview:

A new bill was introduced Thursday by Howard Coble (R-NC) which would allow almost anyone who purchases a principal residence to take advantage of the $8,000 tax credit through the end of 2010.

The proposed bill would also lift the income limitation which currently states that singles earning more than $75k and couples earning more than $150k are disqualified. This would be good news for higher income earners.

The proposed bill also extends the repayment waiver to account for the extended credit availability. Current law states the tax credit does not have to be repaid unless the homeowner sells the property or no longer uses it as a primary residence within 36 months of purchase.

Real Estate Investor Coach Response:

Ok, so what does all this really mean for the creative real estate investor?

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The average rate on a 30-year, fixed-rate home loan climbed to 5.29% for the week ended Thursday, Freddie Mac reported. That’s the highest since December and up from 4.91% a week earlier.

“There’s a real risk interest rates could climb up beyond 6% or 6.5%, which can immediately shut down the housing recovery and undermine the national economy,” says Bernard Baumohl, chief global economist at the Economic Outlook Group.

Also, as a result of the increase in rates, refinancing activity fell 24%.

Real Estate Investor Coach Response:

These are interesting facts to know considering the ongoing housing slump and economic

Buying Houses with 0% Interest is one of my favorite ways to buy houses and it isn