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Tax Credit Extended and Expanded
President Obama signed a bill on November 6th extending and expanding the home buyer tax credit. First time home buyers will continue to be eligible for an $8,000 tax credit. “Move up buyers” will be eligible for a new $6,500 tax credit. These temporary tax credits are only available for home purchases that go under contract before May 1, 2010 and that close before July 1, 2010.

VAR has produced a one-page flyer explaining the tax credit, which is suitable for your clients and customers. NAR has created a Q & A to help Realtors understand the details of the tax credit.
RVAR Election Results
Thank you to the 425 Realtors who voted in RVAR’s recent election. Elected to the three open Director positions:
  • Karen Bertrand (Long & Foster South)
  • Kathy Bibb (MKB)
  • Barbara Brooks (REMAX Lakefront)
Joining these newly elected Directors are those who have previously been elected to serve on the 2010 Board: President Richard Limroth; President-elect Joe Sutliff; Vice President Barry Bridges; Immediate Past President Todd Wampler and Directors Connie Hash, Melissa Morgan, Joan Turner and Tom Wilson. The 2010 Board will be installed at the December 11th Installation Breakfast.
RVAR Endorses House of Delegates Candidates
RVAR Endorses House of Delegates Candidates
RVAR’s Board of Directors has endorsed four area candidates for the House of Delegates. Each endorsed candidate will receive a $2,500 RPAC contribution. Personal interviews were conducted with these candidates. Questions focused on economic development in the Roanoke Valley, transportation funding, the recent SCC ruling impacting real estate signs and basing the grantor’s tax on sales price instead of assessed value. Special thanks to RVAR’s Governmental Affairs Committee for its efforts to conduct these interviews.
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