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"I'm desperately trying to figure out why kamikaze pilots wore helmets."
Short and funny quote by, Dave.
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Give Our Troops a Little Bit of Christmas Cheer!
The Casas Adobes office is collecting comforts from home to sent to our troops just in time for Christmas. Deadline is Nov. 18th! Please call Diane at x5902 for a list of items needed or click on the link here:
Long Realty Company
Tucson - Oro Valley Arizona
520-834-4663
http://rlecinski.longrealty.com
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The suspense is over. The President signed the Bill effectively providing an extension and an expansion of the Homebuyer Tax Credit. There are still some unanswered questions out there and we are waiting for some of them to get cleared up. The Bill now will cover a large majority of homes in the Oro Valley and NW Tucson market; and over 90% of the homes in Rancho Vistoso.
Here is what we do know. You do not need to rush a closing into that Nov. 30th deadline in order to be eligible for the tax credit. So that takes the pressure off. The income limits have been increased so a buyer you may have worked with in the past and was not eligible, may now be eligible.
There is a maximum price limit in the new bill of $800,000. Visit Tax Credit Changes for a Q and A. You'll see that if the home is priced above $800k, it is not eligible for the tax credit. Since this new bill is expanded to already existing homeowners, this becomes a bigger focus.
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As of September 2009 active inventory was 6,114, a 23% decrease from September 2008. There were 927 closings in September
2009, a 1% increase from September 2008. Months of Inventory was 6.6, down from 8.6 in September 2008. Median price ofsold homes was $164,900 for the month of September 2009, down 8% from September 2008. Tucson is experiencing a signifcantincrease in buyer activity, with new properties under contract up 74% from September 2008. Time is running out on the first timehome buyer tax credit for qualifying buyers. Home purchase must close by November 30, 2009. Contact me for more details.
Richard Lecinski
Lon Realty Company
520-834-4663
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