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Today's Market Conditions Report -
A comprehensive analysis of the market, with over 10,000 reports from Realtors across North America.
The National Association of Home Builders is reporting that the sale of newly built, single-family homes fell 3.6 percent in September. FULL STORY->
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Expansion Success courtesy of NAR; 09Nov2009
Congress and President Obama passed both an extension of the $8,000 First Time Homebuyer Tax Credit and added a REALTOR® supported $6,500 Homebuyer Credit for citizens who have lived in their home for 5 consecutive years in the past 8 years.
Passing the law is great for real estate through April 30th, 2010. It is anticipated that the Congress will not continue this program after this Extension/Expansion.
Details are difficult to get at this point. Many of targeted to help move-up buyers. Many of those have not been released yet as the IRS begins deciphering the legislation. These also include questions about whether investor and 2nd home purchases qualify for the credit. These details will be forthcoming as the intent in the statutory language is put in effect.
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