The National Association of Realtors reported that pending sales contracts have risen for the last three months, representing a 6.7% gain which is the highest jump since October 2001. Of course, a lot of it is first time buyers who are very smart and taking advantage of the $8,000 tax credit. They are also purchasing foreclosures and distressed sales.

I went to visit a customer that closed a couple of months ago, and they did improvements on their home, which was a foreclosure property, which they could not have done without the $8,000 they received. They were ecstatic; they just had a new baby and a new home for their firstborn.

Remember first time buyers are considered people who have not owned a home in the last three years - it does NOT have to be the first time you owned a home. You also need to do this prior to December 1st - time is running out!!

Have a great day and enjoy!!