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Washington State Housing Market News...

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REALTORS® are working with legislators, stakeholders, state leaders and private entities on measures and options that will make the federal first-time homebuyer tax credit and economic stimulus money coming to the state available at the closing of a sale. Lack of down payment is the only barrier to home ownership for up to 50 percent of qualified first time home buyers – those who have stable incomes and good credit.

SB 5452 (increasing the debt limit of the WA State Housing Finance Commission to expand down payment assistance) passed the Senate by a vote of 37-10, was heard in the House Capital Budget Committee last week and executive action was taken the very same day. The bill is in the House Rules Committee awaiting action by the full House.

source: Tacoma Pierce County Association or Realtors®

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