With Tax Credit, First Time Home Buyers Make Up 50% of All Sales

November 17, 2009

Daily Real Estate Updates

sudler-sothebys-logo17 November 2009 ?In real estate there are typically three types of buyers: a buyer upgrading to a larger home, an investor, or a first time home buyer. The National Association of Realtors® has come out with new statistics ? 50% of the purchases this year have been in the first time home buyer category. The NAR attributes this impressive number to the first time home buyer tax credit. The credit gives $8,000 to these buyers, which may help to offset the costs associated with moving into a new place. On average, when a home is purchased, the buyer spends $7,500 in the first year on maintenance, decorating or fixing up the home. With the extension of the home buyer tax credit through April 2010, we can anticipate higher sales into next year. This is good news for the economy. This will have a trickle down effect into other areas of the economy that are struggling.

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About Katie Anderson

Katie Anderson is a respected and successful broker at Sudler Sotheby's Realty as well as a certified appraiser. She specializes in representing clients who purchase and sell condominiums, town homes, single-family homes and income property in the Chicago land area. In her small amount time in the real estate game (she became an agent in 2003) she has assisted in excess of 400 deals and over $200 million in sales and continues to use her skills as a certified appraiser. Katie resides in Chicago's Bucktown neighborhood with her loving husband and 4-year-old-daughter, where she spends much of her spare time with her family and friends. You can contact her at katie@thechicago77.com or at andersonbraack.com

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