David and Lois Marris

$$ Home Buyer Tax Credit Extended & Expanded

The U.S. House of Representatives and Senate have passed new legislation to both extend and expand the home buyer tax credit. The new plan to stimulate the housing economy will reach more buyers than before and just needs to be signed into law by President Obama.

The new legislation extends the First-Time Home Buyer Tax Credit of up to $8000 until April 30, 2010. It also expands the program to include a tax credit of up to $6500 for current home buyers.

For more information on the expanded program visit the National Association of REALTORs web page at www.REALTOR.org.

The $8000 tax credit program for first time home buyers is scheduled to end November 30th, 2009. However, there has been a push in the U.S. Senate to extend this date and to expand the program beyond the first time home buyer.

An amendment to expand the tax credit is expected to be attached to the Senate bill which would extend unemployment compensation. While some have speculated that the Obama Administration might not be open to the new home buyer tax credit program, earlier this evening the Wall Street Journal reported the administrations basic approval of the plan (read more).

The new home buyer tax credit program would allow all home buyers, not just first time home buyers, to receive a tax credit. First time home buyers would receive up to $8000 via the tax credit. Existing home owners would receive a $6500 tax credit. Home buyers must be under contract by April 30, 2010 and close within 60 days. It is expected that the final bill will have both income limitations and home value limitations.

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David and Lois Marris are top producing REALTORS at Edina Realtyof Rochester, MN. Edina Realty is the top real estate brokerage in Minnesota. For more information regarding Rochester MN Real Estate visit our web page at www.DavidAndLoisMarris.com. Contact information: DavidMarris@EdinaRealty.com, LoisMarris@EdinaRealty.com, 507-398-3251.

Rochester, MN Real Estate Agents David and Lois Marris of Edina Realty present another new listing.

4838 Scenic View Dr. SW, Rochester, MN 55902

5 Bedroom/3 Bath $294,900

View Virtual Tour Here

The soft, rolling hills of Scenic Oaks make this subdivision a favorite of many.  Sitting a top a hill crest this home offers wonderful, open views you are sure to enjoy. Golf, fishing and shopping are nearby! Built in 2004 this home sits on a large, walkout lot in Scenic Oaks phase 2.  "Comfortable" is the word that comes to mind when describing the lifestyle this homes offers.  The living, dining and kitchen areas a joined into one comfortable space with vaulted ceilings.  The main floor also has 3 bedrooms, 2 full baths (including the master) and the laundry/mudroom.  If you don't like stairs, this home will work well for you!  The lower level family room with fireplace will be a favorite place to gather and play.  Two additional bedrooms and another full bath are on the lower level.  Access to the large backyard can be gained from the deck or the lower level walkout.

Video Tour:

David and Lois Marris are top producing REALTORs at Edina Realty in Rochester, MN.  Edina Realty is the number one real estate brokerage in Minnesota.  For more information regarding real estate in Rochester MN contact us at www.DavidAndLoisMarris.com, DavidMarris@EdinaRealty.com, LoisMarris@EdinaRealty.com, 507-398-3251.

Rochester MN Real Estate Market Update from REALTORs David and Lois Marris

Wednesday, May 20th, 2009

There are currently 786 single family homes for sale in Rochester, 16 less than last week. 241 of these homes are vacant, 10 less than last week. An astounding 51 homes accepted contracts this past week making it the busiest home selling week in 2009. We continue to decrease our inventory of both existing and new construction homes.

Contact us if you are considering buying or selling a home in the Rochester area. We'll put our experience to work for you.

Statistics are from the Southeast Minnesota Association of REALTORs

David and Lois Marris are top producing REALTORs at Edina Realty in Rochester, MN. Edina Realty is the number one real estate brokerage in Minnesota. For more information regarding real estate in Rochester MN contact us at www.DavidAndLoisMarris.com, DavidMarris@EdinaRealty.com, LoisMarris@EdinaRealty.com, 507-398-3251.

Wednesday, May 13th, 2009:

There are currently 802 single family homes available for sale in Rochester, 10 fewer than last week.

251 of these homes are vacant, 12 fewer than last week.

46 homes accepted contracts this past week.

Rochester is defying the nations real estate recession. We have had numerous weeks of declining availability, meaning homes are selling faster than they are coming on the market. The vacant home statistic is a combination of new construction homes and existing homes. This number is decreasing on a steady basis. New home construction permits are also on the rise with 20 permits being issued in the month of April.

If you are considering selling your home, now is a good time to be on the market. Contact us for a detailed marketing plan for your home.

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David and Lois Marris are top producing REALTORS at Edina Realtyof Rochester, MN. Edina Realty is the top real estate brokerage in Minnesota. For more information regarding Rochester MN Real Estate visit our web page at www.DavidAndLoisMarris.com. Contact information: DavidMarris@EdinaRealty.com, LoisMarris@EdinaRealty.com, 507-398-3251.