Your House Your Home

Step up, buyers!

TICK TOCK goes the tax credit deadline. Spring is here, and the buyers are out in full force. If you're in the market for a house don't miss out by making lowball offers. Base your offers on REALITY, on what's SOLD in the last four months, nearby. THAT'S how you'll win at the homebuying game. It's a Spring market for buyers AND sellers.

Bought a House - How to Fix it up???!!!

 RE/MAX Leading Edge will help showcase local businesses in these challenging economic times. Since most home improvements are made one year after a home is purchased and one year before it is sold, real estate professionals welcome the opportunity to partner with local service providers. Throughout the day seminars will be offered by More Than A Move, Big Foot, Moodscape Landscape, Nexamp and Red Door Design.

via www.wickedlocal.com

I'll be there around 1:30 and will be looking for YOU!

I have such smart buyers!

Here in the suburbs north of Boston, first-time homebuyers are coming out of the woodwork and buying homes. It's so exciting to be a part of the economic recovery, witnessing first-time buyers getting into the game and taking advantage of this incredible moment in history. The TAX CREDIT of $8,000 doesn't hurt either. Did you know you can get your money early? To find out more about the tax credit, read my other posts. Give me a call if I can help you buy your home.

Buy Now! Why? Read on!

FIRST-TIME HOMEBUYER TAX CREDIT  Calling all first-timers!  Here is a Q&A written and published by the Massachusetts Association of REALTORS regarding YOUR First-Time Homebuyer's Tax Credit.  Contact me with any questions: Frequently Asked Questions  In 2008, Congress enacted a $7500 tax credit designed to be an incentive for first-time homebuyers to purchase a home. The credit was designed as a mechanism to decrease the over-supply of homes for sale. For 2009, Congress has increased the credit to $8000 and made several additional improvements. This revised $8000 tax credit applies to purchases on or after January 1, 2009 and before December 1, 2009. Tax Credits -- The Basics  1. What’s this new homebuyer tax incentive for 2009?    The 2008 $7500, repayable credit is increased to $8000 and the repayment feature is eliminated for 2009 purchasers. Any home that is purchased for $80,000 or more qualifies for the full $8000 amount. If the house costs less than $80,000, the credit will be 10% of the cost. Thus, if an individual purchased a home for $75,000, the credit would be $7500. It is available for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.  2. Who is eligible?    Only first-time homebuyers are eligible. A person is considered a first-time buyer if he/she has not had any ownership interest in a home in the three years previous to the day of the 2009 purchase.  3. How does a tax credit work?    Every dollar of a tax credit reduces income taxes by a dollar. Credits are claimed on an individual’s income tax return. Thus, a qualified purchaser would figure out all the income items and exemptions and make all the calculations required to figure out his/her total tax due. Then, once the total tax owed has been computed, tax credits are applied to reduce the total tax bill. So, if before taking any credits on a tax return a person has total tax liability of $9500, an $8000 credit would wipe out all but $1500 of the tax due. ($9,500 - $8000 = $1500)  4. So what happens if the purchaser is eligible for an $8000 credit but their entire income tax liability for the year is only $6000?    This tax credit is what’s called “refundable” credit. Thus, if the eligible purchaser’s total tax liability was $6000, the IRS would send the purchaser a check for $2000. The refundable amount is the difference

Calling All Homebuyers: Read About YOUR Tax Credit!

Okay, would-be homebuyers, check out the hot-off-the-press information on The Tax Credit.  As I've been saying for a while now, it's a GREAT time to buy your first home.  If you need more information, read on for posts on credit, working with a Buyer's Agent, and how the whole home-buying process works.  

Yes, Virginia, you CAN be a homeowner.

Click on this link for the Homebuyer Tax Credit:

file:///Users/katherinewatersclark/Desktop/TAX%20CREDIT%202009.pdf