Money and Main Street
5 of 7
BACKNEXT
Ted and Kristin Cadigan
Ted and Kristin Cadigan
Ted Cadigan, 29, and his wife Kristin, also 29. He works in sales for Fedex and she's is a physical therapist.
Location: San Francisco, Calif.
Property: 4 bed, 2 bath, 2,200 s.f.
Price: $550,000

We're ecstatic about the way home prices have gone. We live across the San Francisco Bay in Contre Costa County, and when my wife and I started looking, all our budget would buy was a three-bedroom, 1,600-square-foot house.

Instead, we were able to afford a 2,200-square-foot house that would have cost $880,000 two years ago.

We actually were ready to buy late last year, before the new credit was created. Then, we were looking at the credit that had to be paid back. So when we heard that the government was going to come out with a new one that was refundable, we decided to hold off.

Shortly after the new credit was announced in March, we closed on the house. We claimed the credit the next month when we filed our taxes and received a check eight weeks later.

The house was cost right at our absolute limit of $550,000, but it had roof damage. The house is about 40 years old, and it had never been replaced. Thanks to the credit, we were able to afford the repair, which cost $12,000.

The credit really helped us out.

NEXT: Alex Bauer

Last updated November 09 2009: 11:06 AM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
More Galleries
10 of the most luxurious airline amenity kits When it comes to in-flight pampering, the amenity kits offered by these 10 airlines are the ultimate in luxury More
7 startups that want to improve your mental health From a text therapy platform to apps that push you reminders to breathe, these self-care startups offer help on a daily basis or in times of need. More
5 radical technologies that will change how you get to work From Uber's flying cars to the Hyperloop, these are some of the neatest transportation concepts in the works today. More

Special Offer

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.