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Local Address: October 25, 2009 - October 31, 2009

First-time buyer credit and The Weekend Poll

There's some movement on Capitol Hill toward extending the first-time buyer's tax credit. As reported by the Post's Dina Elboghdady, there is consensus in favor of a limited extension of the $8,000 tax credit. The latest version said to be favored in the Senate: Extended to home sales that go under contract by April 30 and close by June 30. A new, $6,500 tax credit would be available for buyers who have owned during five of the eight years prior to the purchase.

By Elizabeth Razzi  |  October 30, 2009; 6:00 AM ET  |  Permalink  |  Comments (0)
Categories:  Buying , Neighborhoods , Outdoors , Poll , The economy , The market , Weekend Poll  
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Washington area is short 40,000 homes affordable to average earners

We now have a shortage of about 40,000 for-sale homes within a 30- 45-minute commute of those employment hubs that are affordable to people earning these incomes, according to the report. They predict the shortage of affordable for-sale homes will grow by 5,000 units per year between 2010 and 2030. And recent declines in area home prices haven’t helped much, they say, because housing close to those employment hubs took less of a hit than homes farther out in the suburbs.

By Elizabeth Razzi  |  October 29, 2009; 6:00 AM ET  |  Permalink  |  Comments (16)
Categories:  Buying , Neighborhoods , New construction , Statistics , The economy , The market  
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Act fast to cash in credit card rewards

If you have a Home Depot Rewards MasterCard--and have been counting on tapping that line of credit for a big job--you need to go shopping, and fast. Citi, which issues the card, has announced that cardholders can use them to make purchases only through Saturday, Oct. 31. And Rewards Points must be redeemed by Jan. 31, 2010, or they expire.

By Elizabeth Razzi  |  October 27, 2009; 8:00 AM ET  |  Permalink  |  Comments (2)
Categories:  Remodeling and repair , The economy  
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