November 2009

I recently read an interesting article from the IAR (Illinois Assoication of REALTORS).  I have added a couple of the survey responses
that I thought were pertinent.  This is the first in a 3-part series I'll be posting.

The survey results below are from the IAR Homebuyer Benchmark 2009 and comprises recent homebuyers with a 3.09% margin of error.  My thoughts are written below the results in blue ink.

The survey question was: "Which one of these services did you find most helpful in your home buying?"

WORKING WITH A REALTOR® ....................................... 54.6%
I would have hoped "working with a REALTOR" would have been higher than 54.6%, but it is the highest number, so that's good.  Of course, unless a buyer purchased a For Sale By

This isn't really news by the time I'm posting this and most of you probably know it has been extended.

Well, everyone figured it would get extended - right?

There was word that it would get extended but until it was signed, sealed and delivered, it was just "talk."  I had no idea if it would be extended or not.  And I certainly had no idea what the rules would be.

Details of the "Home Buyer" Credit

Notice I did not put "First Time" Buyer Credit, because now it isn't just for first-timers!  The credit is the same for first-time buyers as before but with a maximum earnings increase (up to $125,000 for an individual, $250,000 for a couple), allowing even more to qualify for the credit.  It is still 10% of the purchase price up to $8,000.

And