California Homes Sales Increase

California Association of Realtors reported yesterday that home sales increased 2.1 percent in September in California compared with the same period a year ago, while the median price of an existing home declined 7.3 percent.
The median price of an existing, single-family detached home in California during September 2009 was $296,090, a 7.3 percent decrease from the revised $319,310 median for September 2008, C.A.R. reported. The September 2009 median price rose 1.1 percent compared with August’s $292,960 median price.

Will the $8,000 tax credit be extended?

On Oct. 5th, White House Press Secretary Robert Gibbs stated that “there has been quite a bit of success” with the $8,000 tax credit, and added that President Obama "is considering extending it to help strengthen the economy and create jobs". So far though no official word on if or when that would happen. The tax credit is due to end December 1, 2009. Why wait to see if it is extended. Interest rates are creeping up, house prices are on the rise. Now is the time to move. Ever heard the poem "The Reluctant Real Estate Investors Lament" if you haven't, now would be a good time to read it.



For more detailed information email me or go to www.federalhousingtaxcredit.com or www.irs.gov (search for first time home buyer tax credit)