Thursday, November 05, 2009

November Market Report

Did you know that...

- Home sales to first-time homebuyers increased by 25% in 2009 and now account for 50% of all sales

- The tax credit is helping to reduce inventory, helping our neighborhoods and communities recover

- Congress has approved a bill to extend and broaden the tax credit and President Obama is expected to sign the bill as soon as tomorrow

- The new bill will extend the $8,000 first-time home buyer credit to contracts signed by April 30th and closed by June 30th and increases the income limits so more people can qualify for this credit

- The new bill also creates a new $6,500 credit for buyers who have owned and lived in their current home for at least five years and are buying something new

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