california home buyer tax credit 2011

california home buyer tax credit 2011 : While the first-time homebuyer tax credit has already helped many potential homebuyers transition into their first homes, expanding the credit to existing homeowners may help push more qualified buyers to purchase homes. Experts are debating over whether this extension will help revive the housing market and increase home sales or if it would only create another bubble in the market. Below are the highlights of the new tax credit law:

Buyers snap up 2,500 La. foreclosures last year
Nationally, RealtyTrac said that foreclosure homes accounted for nearly 26 percent of all sales in 2010, down from 29 percent of all 2009 sales, but up from 23 percent in 2008. Sales of foreclosure homes by either distressed owners or banks totaled 831,574. The average foreclosure sale price nationally was just over $172,000 in 2010 — an average discount of 28 percent from non-foreclosures, RealtyTrac said.
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Sales of New U.S. Homes Dropped More Than Economists Forecast in January
Sales declined 13 percent to a 284,000 annual pace, figures from the Commerce Department showed today in Washington. The median estimate of economists surveyed by Bloomberg News projected a decrease to a 305,000 rate. Demand dropped 37 percent in the West and 13 percent in the South. Read More...

Pending Sales of U.S. Existing Homes Decline by 2.8%, More Than Forecast
The number of Americans signing contracts to buy previously owned homes fell in January, a sign the industry that triggered the recession was struggling at the start of 2011. The index of pending home resales dropped 2.8 percent after a revised 3.2 percent decrease the prior month that was initially reported as a gain, figures from the National Association of Realtors showed today in Washington. The median estimate in a Bloomberg News survey of economists called for a 2.3 percent decrease.
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Toll Brothers Reports FY 2011 1st Qtr Results
Toll Brothers, Inc. (NYSE:TOL) (www.tollbrothers.com), the nation's leading builder of luxury homes, today announced results for earnings, revenues, contracts and backlog for its first quarter ended January 31, 2011. The Company reported FY 2011 first quarter net income of $3.4 million, or $0.02 per share diluted, compared to a FY 2010 first quarter net loss of $40.8 million, or $0.25 per share diluted. FY 2011's first quarter included a net tax benefit of $20.4 million, compared to a $16.0 million net tax benefit in FY 2010's first quarter.Read More... For the latest updates PRESS CTR + D or visit Stock Market news Today

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