The message that Realtors® are sending to Congress is that a homebuyer is eligible for the tax credit only if the home is "purchased" before Dec. 1, 2009. That means that buyers have to find a house, complete a contract, satisfy any contingencies, secure financing and go to closing by Nov. 30. Accomplishing those tasks by Nov. 30 will become more difficult with every passing day. In today's market, it generally takes between 45 and 60 days to go from contract to closing.

The market has improved, but it has not yet fully corrected itself. The credit needs to be extended for an additional period of time and expanded in order to build upon the progress that's been made. The best way to assure continued housing activity is to extend and expand the credit and to do that NOW.

Realtors® are asking Congress to act NOW to extend and expand the credit through 2010.

Realtors®, through the National Association of Realtors® (NAR) are currently working on the behalf of first time homebuyers.

The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing more than one million members involved in all aspects of the residential and commercial real estate. The Lorain County Association of Realtors® (Website | Profile) is one of more than 1,400 local boards and associations of REALTORS® nationwide that comprise the National Association of REALTORS®.

The Lorain County Association of REALTORS® offers a website that provides a complete listing of REALTOR® real estate brokerages in Lorain County, contact information for REALTOR® members, and industry associates. If you are a first time homebuyer or a repeat buyer consider www.MyNewCommunity.net or www.LoCAR.org as a good source for Lorain County REALTOR® information.