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The American Taxpayer Relief Act of 2012 (H.R. 8) is now passed by Congress and signed into law by President Obama. You may read the 157 page bill from the U.S. Government Printing Office or you can review our summary of the bill. According to the Congressional Budget Office, H.R. 8 is expected to raise $620 Billion in revenues but will also contribute an additional $4 Trillion to the deficit over the next 10 years. The next round of negotiations will be over the debt ceiling and the delayed sequester for spending cuts. The national debt has reached the $16.4 Trillion ceiling and the Treasury has already implemented a "debt issuance suspension period" which is an unusual set of measures to pay our debts through February 28th 2013. The automatic sequester of across the board spending cuts was delayed by H.R. 8 until March 1st 2013. Expect some fireworks in January and February! So what does this mean to the Lake Lanier housing market? Here are some observations:
Yes, there are some major battles ahead on spending reform and additional sources of revenues. We may see some short-term hiccups in our economy as we work through these issues. But we are on the right path for slow but steady improvement in our economy. The latest facts point to a very bullish real estate market here in the Greater Metro Atlanta area. Click here for the TOP 10 Drivers of Housing Demand in 2013. It is a great time to buy the home of your dreams and set an incredibly low mortgage rate. These opportunities will not last forever as home prices and mortgage rates rise in the future.
Please Contact Us For Additional Insight About The Opportunities For Real Estate In 2013.
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Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with over a decade of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at 678-513-2014 or email us at APrescott@PrudentialGeorgia.com.
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