Skip to main content

Real Estate Blog - Extension of First Time Homebuyer’s Credit

A one year extension of the first time home buyer tax credit bill has been passed by the House of Representatives unanimously, for service members serving overseas.
This will apply for men, women and their spouses of the Foreign Service and intelligence who served outside the US for at least 90 days in 2009 and served an official extended duty.
Another benefit to this bill is that if the service member sells their home within three years of purchase because of deployment, it will eliminate the repayment penalty for firt time home buyers. It is now in the Senate for consideration after passing 416-0.
via activerain.com

Posted via web from Kathleen Lordbock's Posterous

Comments

Post a Comment

Popular posts from this blog

Do Bidding Wars Increase Home Prices?

‘Bidding Wars’ Not Boosting Home Prices, Latest HousingPulse Results Indicate Despite media reports of the emergence of so-called “bidding wars" in select housing markets, average home prices remained flat in the month of April, according to the latest results of the monthly Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. While reports of some home listings attracting dozens of offers have become common this year, the closely watched nationwide HousingPulse survey found that most homes sold in April received only two or three offers and sold below list price. Demand from investors remained strong during the month of April. Investors accounted for 25.1% of home purchases, while current homeowners accounted for 40.1% of purchases and first-time homebuyers accounted for 34.8% of purchases. Average prices for home purchases declined slightly from March to April, according to transactions reported by HousingPulse survey respondents. The average price for non-distressed p...
Post a Comment
Read more

Don't Want to Give It Away?

Helping make real estate dreams come true Explore Lake Property I don't want to give my home away is an oft repeated phrase as I discuss with prospective home sellers the current estimated market potential of their home. They sometimes follow that phrase up with-" well, we will just hold on to it then" or "we will rent it out". Sometimes sellers can lose track of why they wanted to sell in the first place. Waiting for a year isn't necessarily going to solve their problem. I always like to ask them what will change in a year? Do you think that tenants will leave the property in the condition it is presently? What will the cost of repairs be after a year of renting? Will you be subsidizing the rent, as it may not cover your current mortgage payment and other home expenses such as the taxes, insurance and maintenance. Will you be hiring a management company and are you available at all times to handle repairs and renter issues? What will prices an...
3 comments
Read more