1. Home Buyer Tax Credit Changes & Extension…First time home buyer program now extended until April 30, 2010 to be under contract and you have until July 1, 2010 to close.  Increase income limits for single purchaser from $75k to $125k, married income limits from $150k to $225k.
2. New Home Buyer Tax Credit for purchasers who have used the home they are selling or being sold as a principal residence consecutively for 5 of the previous 8 years.  They can receive up to $6500 for purchases made between December 1, 2009 and April 30, 2010, with same provision to be under contract by April 30^th and have until July 1, 2010 to close.  The credit would not be available to anyone purchasing a home over $800,000.
3. Express News…Fed vows to keep rates low for awhile…on Wednesday the Federal Reserve pledged to keep a key interest rate at a record low for an “extended period”.  The Fed kept the target range for its bank lending rate at zero to 0.25 percent.
4. From RECON…Beaumont is expected to lead the nation in home price appreciation over the next year.  The Beaumont-Port Arthur market is expected to increase in value by 5% in 2010.
5. From MSNBC…The volume of signed contracts to buy previously occupied U.S. homes rose for the eighth straight months in September.
6. Fannie Mae is offering borrowers option to foreclosure.  Borrowers on the verge of foreclosure are going to be offered the option to rent their homes for a year.  The new “Deed for Lease” program will allow homeowners to transfer title to Fannie Mae and sign a one year lease.

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