John Badalamenti - Prudential Fox & Roach Realtors, Wayne, PA

Let's be honest, going GREEN is on everyone's mind these days!  Well, you're going to be pleasanlty surprised with this new interactive web portal, the EPA's new GREEN Home Web Site.

What's really hot (or GREEN) about this new site is the ability to click on an area of a house, indoor or outdoor - to receive a myriad of tips & ideas on reducing engergy consumption, waste generation, water usage, improving air quality, carbon footpints - all the while making your home GREENER.

For more information go to: http://www.epa.gov/greenhomes

This survey, "The 2009 National Association of REALTORS® Profile of Home Buyers and Sellers" was released yesterday, November 13th at the 2009 REALTORS® Conference & Expo.

Obviously as a REALTOR® practicing in Suburban Philadelphia I have a "vested interest" in the success of the local real estate market here, however there are other factors at play that effect everyone that shouldn't be overlooked: the health of the local - and national economy.

Every time a homebuyer purchases a home, no matter where it is, several other real estate transaction may also generated as a result of the first (the Smith's buy from the Wilson's who are now able buy from the Jones's, who buy a new construction home, etc., etc.). Short sales, bank owned (REO) and foreclosures are the exception of course, but when these properties are sold, it loosens up the local real estate inventory.

Paul Bishop, NAR vice president of research, said several factors have been at play. "Tax incentives, record high affordability conditions and a pent-up demand brought a record share of first-time home buyers into the market," he said. "These buyers are critical to housing and a general economic recovery because the market always heals from the bottom up -- they absorb inventory, free existing owners to make a trade and stimulate related goods and services."

Congress has extended and expanded the homebuyer tax credit. The modifications in the column labeled "November 7 - April 30, 2010 Rules as Enacted Nov. 2009" - becomes effective on Nov. 7th, 2009 (President Obama signed the bill on Nov. 6th, 2009). All changes made to the current credit become effective on this date as well.

>>> CLICK HERE To Review The Difference Between the Tax Credit Rules That Where Due to Expire at the End of November, and the New Tax Rules Extended to April 30th, 2010*

*Courtesy of the National Association of REALTORS®

Nov. 2nd, 2009 By ALAN ZIBEL AP Real Estate Writer: http://abcnews.go.com/Business/wireStory?id=8974250

The amount of pending sales are due in large part to the amount of many first-time HomeBuyers who took advantage of the $8,000 tax credit (which ends this month).

We're waiting on final approval for AN EXTENTION of the $8,000 tax credit for HomeBuyers who sign an agreement by April 30th, 2010 with the additional caveat of a $6,500 credit to Homebuyers who have lived in their prior residences for at least five years (all of which could receive final approval in the coming weeks): http://www.bloomberg.com/apps/news?pid=20601087&sid=aoI9KTlHpwzI

Obviously, as a REALTOR® I have a "vested interest" in the tax extension. But I also believe that every time a first-time HomeBuyer purchases a home, it has a "domino-effect" on as many as seven other real estate transactions (the Seller of the home that the first time HomeBuyer purchased now go on to purchase a new home, and so on, and so on).

All these real estate transactions have a positive effect on the ecomomy as contractors, inspectors, plumbers, electricians, home furnishings, home remodeling & building supplies, etc., etc., even state and local governments - are all effected in a big way.