November 2009

There are 2 blog entries for November 2009.

Reno-Tahoe Real Estate Market Update - November, 2009

This post provides a quick summary of real estate market statistics for key cities in the Reno-Tahoe region. If you are not a subscriber to The Greater Reno-Tahoe Real Estate Report, you can find complete details and charts behind the market statistics outlined below. Feel free to subscribe to The Greater Reno-Tahoe Real Estate Report here.

  • Reno - For October, home sales are up 71% over October, 2008 - 396 homes sold. October's median sold home price was $185,621 - down 23% form October, 2008 but the fifth month above the most recent low of $180,000 in May, 2009 - somthing to note in terms of price leveling. With a 15% decrease in inventory from November, 2008 levels, November Months of
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Tax Credit for Homebuyers

Here is an update on the new guidelines for the tax credit extension provided by Susan Davis of MCS Mortgage in Reno. - Mitch

First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000.

Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

Current Owners: The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have

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