YPJimH says: This is a very important information for individuals who are looking to purchase a house in the upcoming year. It is an excellent time to buy, because of the 8,000 tax credit is extended. I remember being in the car with my cousin when we were going out, he stopped at the ATM, and noticed a little 8,000 difference in his account. If you know that you are going to be at a location for at least 5 years, have a steady career, and have some money to put towards a home, it makes alot of sense. The only thing is to do alot of research, because it is definitely a good time for potential home buyers. This article provides some in depth details about the extended tax credit:
President Obama reups popular tax credit through June 2010 and expands it to include people with higher incomes and some who want to trade up into new homes.
By Les Christie, CNNMoney.com staff writer
NEW YORK (CNNMoney.com) — President Obama signed an extension and expansion of the first-time homebuyers tax credit on Friday.
The $8,000 credit was scheduled to lapse on Dec. 1 but will now be in effect through the end of June. Homebuyers must sign a contract before April 30 and close by June 30. The income limits were also raised: Single buyers can now earn up to $125,000 and still get the full credit while a married couple can earn $225,000. [click to continue…]
Tagged as:
First Time Home Buyers,
Real Estate
The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009 We are past the half way point towards that expiration date! There are plenty of homes available at affordable prices. Interest rates are low. This is money that never has to be repaid, provided you live in the home for three years.
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Tagged as:
First Time Home Buyers,
Investments,
Real Estate
Think twice before buying a house in these cities any time soon.
Home buyers looking for a bottom in the real estate market may have been encouraged by housing data released earlier this week. Sales of existing homes rose 2.4% in May, according to the National Association of Realtors. The increase was a little less than most analysts had expected, but it represented the second straight month of improvement. Meanwhile, sales of new homes dipped 0.6% in May, continuing a trend of fairly flat months so far this year, according to data released by the Commerce Department.
Don’t get too excited – it’s still too early to say the housing market bottomed out, analysts and economists say. Distressed properties still account for about a third of all sales, and 29% of sales were to first-time home buyers, who are currently benefiting from an $8,000 tax credit.
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Tagged as:
First Time Home Buyers,
Real Estate
HOA is abbreviation for Home Owners Association. If you are planning to settle down in a cozy home which is part of a development then you should be aware of the important HOA rules. These rules mainly govern various factors related to living as part of the development.
Home Owners Association as the name suggests is by the owners and for the owners. However it was not conceptualized by the owners who bought homes in the development but rather by the developer who initially designed the development. This was done keeping in mind the wellness of the neighborhood in the long run.
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Tagged as:
First Time Home Buyers,
Personal Finance,
Real Estate
