First Time Home Buyers Tax Credit...The Details

In order to understand the benefits more clearly, I'm posting a chart, compliments of the National Association of REALTORS®. As you probably have heard, both the House and Senate have passed the Stimulus Bill and the President signed it today. This one offers a non-payback plan. That is non-payback as long as the borrower owns the home for over 3 years. The good news for first-time home buyers who have purchased in 2009, this bill is retroactive.

In addition to the Stimulus Bill, the President is scheduled to announce the Administration’s comprehensive housing recovery program tomorrow. I will be in touch with more details about this announcement as it is released. It will focus on foreclosure relief and the modification of existing loans (delinquent and possibly current).

New Canaan Real Estate Activity February 11, 2008 thru February 17, 2008 (Single Family Residential Only)

New Listings

21 Oak Grove Pl $639,000
60 Parting Brook Rd $995,000
99 Myanos Rd $995,000 (relisted)
366 Ponus Ridge Rd $1,299,000 (relisted)
62 White Oak Shade Rd $1,725,000 (relisted)
499 Country Club Rd W $1,825,000
52 Indian Waters Dr $3,195,000
372 Brushy Ridge Rd $3,695,000 (relisted)
58 Greenley Rd $4,150,000
507 Trinity Pass Rd $4,795,000

Contracts Pending

92 Orchard Dr $899,000
95 Douglas Rd $1,895,000
584 Frogtown Rd $1,995,000
127 Frogtown Rd $2,099,000
124 Thayer Pond Rd $2,695,000

Homes Sold

15 Old Norwalk Rd $897,500