Home buyer tax credit to hope Duluth market

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Home buyer tax credit to hope Duluth market

By KBJR News 1

Story Published: Nov 6, 2009 at 10:03 PM CST

Story Updated: Nov 6, 2009 at 10:03 PM CST

Posted by Boua Xiong

The $8,000 tax credit will be extended until April 30th. In addition, those who have owned a home for at least five of the previous eight years can now claim a $6,500 tax credit on a new home as well. This program could heat up Duluth's slow winter sales.

“This will probably have home buying activity earlier on in the spring…maybe we'll see some activity in January or February just in advance of meeting the deadline,” Mike Peller, president of the Duluth Area Association of Realtors, said.

Obama also extended unemployment insurance.

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