NBN Online for the week of April 20, 2009

Nearly 600,000 Home Buyers Claim Tax Credit So Far

By Lew Sichelman

John and Romy Kohler are first-time home owners, thanks in large part to the $8,000 federal tax credit enacted by Congress as part of the American Recovery and Reinvestment Act.

The credit "was extremely instrumental in us getting our home," says John, who is in management at Chick-fil-A in Bloomington, Ind., where Romy has enrolled in law school at Indiana University. "We couldn't have done it without that."

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Lumber Prices Provided by Random Lengths

Wilmington, Del. Home Buyer Benefits From Stimulus Package

A new home owner in Wilmington, Del. has become one of many to benefit financially from the recent federal stimulus package to help jump-start the economy.

Qualifying for the $8,000 first-time home buyer tax credit and taking advantage of low mortgage interest rates and Delaware’s low property taxes, Marcia Washington, a nurse in Philadelphia, purchased her new home at McMullen Square.

Real Estate Outlook: A Turnaround May Be in Sight

By Kenneth R. Harney

Almost no one in the economic forecasting business wants to take the risk of announcing that it's now official. We're past the rock bottom of the down cycle for real estate and now we're moving into recovery mode.

That's understandable, but the fact is that the signs are all there. Sales and pending sales of homes have turned up sharply in hard-hit markets. House prices are more affordable. Consumer confidence polls show slight but noteworthy improvements in the public's outlook.