They have had the 3% discount on new construction in effect for several months. The advertising always reads that it is good through the end of the current month (i.e. Nov 30th) but then it appeares again the following month, so far. The price they are discounting FROM is slated to rise on Nov 16th. I haven't heard how much of an increase they plan on making. I also thought I heard the senate committee passed the extension of the homebuyer credit that included provisions for current homeowners as well. Hopefully it will pass the house as well.
Russ: Yes, it would only matter if one wished to carry a mortgage. My theory is that one can invest the money at a better return than the cost of borrowing and enjoy the mortgage interest deduction on the federal taxes as well. But I know there are many who feel more secure owning their homes outright for various reasons.
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Tom W
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