New Tax Credit Opportunity Provides First Time Homebuyers a Great Value for Buying
LOS ANGELES – November 12, 2008 – Istar International Realty has found the true silver lining to the Southern California housing downturn. The company today announced that it has enabled a record number of first time homebuyers to take advantage of a new Federal Government tax credit and live the American dream of owning their first home.

“We are helping first time homebuyers take advantage of this housing market downturn and realize their dream of becoming homeowners,” said Ikem Chukumerije, broker and chief executive offer with Istar International Realty. “The tax credit really enables them to be able to better afford a new home.”

The Federal Government First Time Homebuyer Tax Credit provides qualified first time homebuyers a tax credit up to $7500 for eligible homes purchased up until July 1, 2009. It works as a tax free loan and must be paid back over a 15-year period.

"This tax credit can make a big difference for a first time homebuyer waiting for the perfect time to buy their first home,” Chukumerije said. “With the recent decline in prices, this could be the perfect time to take advantage of all the special offers to purchase a new home. So make it a New Year’s Resolution to finally own your own home instead of wasting money on rent.”

For more information about tax credit eligible homes for first time homebuyers, please call Istar International Realty at 800-783-1421 or visit them on the Internet at www.istarinternational.com.

About Istar International Realty Beverly Hills-based Istar International Realty, Inc is a privately-held company for which a host of professional real estate services are rendered. Our endeavors include a broad range of successful pursuits in real estate, including residential, commercial real estate sales, investments, developments, and financing.

Our integrity, professionalism, and vast market knowledge help us guide our clients through their real estate transactions. Our emphasis on superior personal service assures our clients of our commitment to their satisfaction, whether buying or selling.

Whether representing real estate developers or first-time homebuyers, we bring the same unsurpassed level of local market knowledge and research to each transaction. When a customer works with Istar International Realty, they are not hiring an agent, they are hiring the entire company.

For more information on Istar International Realty, please call them at 800-783-1421 or visit them on the web at www.IstarInternational.com.

Media Contact:
Ikem Chukumerije
Broker/CEO
Phone: 800-783-1421
www.IstarInternational.com