Home Sales Helps Boost Local Economy

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By WBNG News

Story Created: Nov 12, 2009 at 5:29 PM EST

Story Updated: Nov 12, 2009 at 6:33 PM EST

The President and CEO of Century 21 Realtors says now is the best time to buy a home.

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Tom Kunz met with the Sbarra and Wells branch in Johnson City.

He says compared to the rest of the nation, the Greater Binghamton area pulled through the recent housing crunch.

According the National Realtor's Association, 40% of homes sold this year were first time buyers taking advantage of the federal home-buyer tax credit.

"When you combine the tax credit with the interest rate and the availability of inventory sitting there, the opportunity for the first time buyer or move in buyer is probably the best I've seen in decades," says Kunz.

Kunz also says the tax credit will be a big boost for the local economy.

Every home sold generates thousands of dollars into the community.

Sbarra and Wells is the number one Century 21 office in upstate New York.

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