“A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales.” – Lawrence Yun, NAR’s chief economist
Cnn Money reports that previously owned, single family home sales have increased 7.2% compared with June and 5% from July 2008. This jump is the largest on record jump reported by the National Association of Realtors since 1999. Although the July activity tells us home sales have decidedly taken a turn for the better, economists are keeping their optimism in check.
Low home prices and great interest rates are pushing first time home buyers to make the plunge. The one hiccup in the market might be the end of the $8,000 first time home buyer tax credit. That date looms . . . December 1, 2009 is the cutoff, and buyers must be closed by that date to take advantage of the credit.
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I am an Associate Broker with Teton Valley Realty. I have been a licensed REALTOR® for twelve years and actively involved with property sales and development in Teton Valley.
I have lived in Teton Valley for over 20 years and feel fortunate to have made a home here with my husband, Travis, and two children, Conley and Arah. 