First-time buyer tips for smooth closing

Just when the party is beginning to show signs of life, do you take away the only punch bowl?

Even though first-time homebuyers are driving the housing market, there has been little energy in the nation's capital to extend the $8,000 tax credit beyond the Nov. 30 deadline.

That doesn't mean that some of the more influential trade organizations in this country have stopped trying to convince legislators that the first-time incentive is key to sustaining any semblance of housing momentum.

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