REALTY EXECUTIVES EDUCATES BUYERS

ON NEW TAX ADVANTAGES OF HOMEOWNERSHIP

LEAWOOD, Kan. - Current downturns in the housing market along with the government’s plans to assist buyers present a unique opportunity for first-time homebuyers. Realty Executives in Kansas City is focusing on ways to educate agents and buyers about the new government programs to encourage sales across the city.

“In some cases these topics can be complicated, so we want to ensure our agents fully understand the tax credits the government is offering so that they in turn can explain it to their clients,” said Steve Summers, regional developer for Realty Executives Mid America Region.

President George Bush signed the Housing and Economic Recovery Act of 2008 this summer. One of the provisions of this law creates a new, temporary tax credit for first-time homebuyers. Buyers who purchase a home before July 1, 2009, are eligible for the tax credit. A first-time homebuyer is defined as anyone who has not had an ownership interest in personal real estate for a three year period before buying a new home. In the case of married couples, both must be first-time buyers.

Some income restrictions apply to qualify for the tax credit. Singles can not earn more than $95,000 per year. Married couples cannot earn more than $170,000 per year, when filing a joint return.

The amount of the tax credit is related to the purchase price of the home. The tax credit is equal to 10 percent of the homes purchase price, with a maximum credit of $7,500 allowed. This amount will be applied to the tax balance of the buyer when they file 2008 or 2009 federal taxes.

“The new tax credits can be a tremendous advantage for these first-time buyers. Couple this with the incredible opportunities available in certain areas of Kansas City, and this is the year that these first-time homebuyers should get into the homebuying market,” Summers added.

More information about the specifics of the program, as well as advice on the current housing market and how it is affecting the Kansas City residential real estate market, is available at several upcoming seminars being held by Realty Executives agents and on the company’s Web site at www.realtyx.com.

Realty Executives Mid-America Region operates 43 offices with more than 1,200 executives. The company closed more than 15,000 transactions worth more than $2.5 billion in sales in 2007.

Realty Executives International, Inc. is one of the fastest-growing real estate franchises in the United States, with more than 15,000 sales associates and over 800 franchises. The Phoenix-based, privately held company has offices in the United States, Canada, South Africa, Mexico, Thailand, Singapore and more. Publications such as Entrepreneur, Success and Inc. magazines have recently ranked Realty Executives International as a leader in the real estate industry based on franchise growth, management stability and financial soundness.

For additional company information visit www.realtyx.com or www.realtyexecutives.com.

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