Culver City, CA

November 2,2009

President Obama has signed Act (H.R. 3548) that included, as an amendment, the extension and expansion of the very popular Homebuyer Tax Credit!

Homeowners who have owned their current homes at least five years, are now eligible for tax credits of up to $6,500 when they purchase a new home. As well at the extesion of the first time homebuyers credit of up to 8,000.

In order to Qualify buyers in both groups have to sign a purchase agreement by April 30, 2010 and close by June 30 2010.

The purchase must be the primary residence, under $800,000. Vacation property does not qualify.

There is a provision in the bill that states that home buyers do not have to repay the credit provided the home remains their primary residence for 36 months after purchase,

This Requirement does not apply to active duty military personnel who move due to a military order.

Senators agreed on October 28th to extend the beneficial first-time Home Buyers Tax Credit..and to also consider a smaller credit to repeat buyers.

Senators agreed to extensThe tax credit and add to the the existing credit by offering a reduced credit for up to $6,500 to repeat buyers.

About 1.4 Million home buyers have qualified for the existing credit. The National Association of Realtors esitmates that 350,00 of these buyers would not have been able to buy..without it. New Home Sales fell 3.6% last month. Some builders blamed the drop on the uncertainty about the tax credit extension.

There has been no "cost estimate" for extending this tax credit..though similar proposals were projected to cost about 10M.

WE TELL SCARY STORIES

Children's storytelling theatre company on

Saturday, October 31st at 2 pm.

a interactive, 45-minute storytelling performance ideal for 4 - 11 year olds, but fun for the entire family.

JULIAN DIXON LIBRARY

4975 Overland Avenue.

We Tell Stories will complete its yearlong visit at The Culver City Julian Dixon Library performing Holiday tales on Saturday, December 12^th at 2 pm.

In unique We Tell Stories fashion, actors unfurl imaginative costumes and props from an old steamer trunk and the fun begins.

Audience members participate from their seats, and then several are chosen to join actors on stage to play an integral part in the performance!

GREAT FUN FOR THE WHOLE FAMILY!

Tme is running out to claim the $8,000 first-time homebuyers tax credit!

This benefit was passed earlier as part of the economic stimulus package, good for up to $8,000, or 10% of the purchase price, and applies to people who have not owned a home in the previous three years.

Unlike a similar program from 2008, the credit does not have to be repaid. This credit is in effect only until

DECEMBER 1 2009

Any first time homebuyers who are serious about purchasing property should be out looking right now.

The National Association of Realtors attributes much of current home sales activity to the first-time buyer tax credit. It estimates that 1.8 million buyers will file for the credit, and 350,000 of them wouldn't have been able to buy without it.

Realtors are pushing Congress ito consider greatly expanding $8,000 tax credit for first-time homebuyers -- potentially applying it to all but the wealthiest homebuyers!

Beyond extending the deadline, some lawmakers want to make the credit available to all homebuyers who meet income eligibility requirements. And some want to increase the amount of the credit from $8,000 to $15,000.