I am happy report that Congress has extended and expanded the homebuyer tax credit . Not only does it include First Time Homebuyers , but now there is a tax credit for existing homeowners looking to purchase a home . Read on to find out more. Take advantage of this limited time opportunity to get up to $8000for 1st time homebuyers and $6500 for existing homeowners looking to make a move.
October 26, 2009—Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of Realtors®. Existing-home sales–including single-family , townhomes, condominiums and co-ops–jumped 9.4% to a seasonally adjusted annual rate of 5.57 million units in September from a level of 5.10 million in August, and are 9.2% higher than the 5.10 million-unit pace in September 2008.
New Rules Affecting Real EstateTransactions and Closings
A White Paper: New Rules Affecting Transactions & Closings
(August 3, 2009) -- There have been several new developments in real estate at a national level which will impact Realtors® in writing offers. These include the Home Valuation Code of Conduct (“HVCC”) which is applicable to appraisers, the Truth in Lending Act (“TILA”), the Home Ownership and Equity Protection Act (“HOEPA”) and Regulation Z which implements the new provisions contained in the TILA and HOEPA. The TILA, HOEPA and Regulation Z apply to lenders. The key thing for Realtors® to keep in mind with all of these is that the deadlines contained in the contracts may have to be modified or set farther out due to the new rules.
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