So Much Going On! Forbes Ranking, Trees for Toys & the 1ST Time Buyer Tax Credit

This week has been going by so quickly (as has this year). I can’t believe that November is just around the corner! We are getting ready for our annual Trees for Toys event and with Turkey Day coming up we are all looking forward to the holidays.

Forbes just announced their top pick for Most Affordable Places to Live Well and Minneapolis came in #1. “It nabbed the top spot on our list of Most Affordable Places To Live Well. There, homes are relatively affordable; residents enjoy a high quality of life and access to choice arts, leisure and entertainment offerings.” On top of this recognition, we have also been ranked as one of the Safest Places to Live.

Here is a little more from Forbes about Minnesota: “Last quarter, 61% of the area's home sold were available to the median household earner, according to NAHB/Wells Fargo, which puts the City of Lakes in 17th place of the 50 cities we measured. Minneapolis ranked just under the median in cost of living. Its quality of life ranking most distinguishes it; here the city ranked third, and came in ninth in arts and leisure offerings.”

We are gearing up for our annual Trees for Toys event which brings our clients and friends together with an event that asks for donations to the Toys for Tots program. Out office is a local Toys for Tots drop off location and we give either a Tree or Wreath to our clients. For one Saturday we get entertainment, Santa and great treats!

On the Legal Front, word is coming in that Congress is looking to extend the $8,000 First Time Homebuyer Tax Credit until April of 2010. This would mean that all purchase agreements would need to be signed by the end of April and the property would have to close by the end of June 2010. They are also discussing an option to give a $6,500 Tax Credit to buyers who are purchasing but have owned their current home for at least 5 years. The Senate has agreed to this plan but now we will need to watch the House before we can call this great news. We’ll keep an eye on this and let you know of any updates.