Sellers and the Home Buyer Credit

In the upcoming months, many buyers will be looking to take advantage of the recently extended and expanded home buyer credit. In order to qualify for the credit, buyers must have a fully signed and accepted contract in place by April 30, 2010 and must close on the property no later than June 30, 2010. If you’re thinking about selling your home in 2010, how does this credit affect you? 1. Expect to see the

Buyers and the Home Buyer Credit

If you are a buyer thinking about taking advantage of the home buyer credit in the next few months (first time or current owners looking to move up), here are some things to think about… 1. You’ll need to have a fully signed and accepted contract in place by April 30, 2010. Given that, you most likely want to start looking at homes not much later than the beginning of February. This will give you

Existing Homeowners and the Tax Credit

I’ve been getting a lot of phone calls and emails from existing homeowners during the last two weeks. They want to know if they qualify for the $6,500 home buying tax credit that was recently signed into law. The new rules for current homeowners regarding this credit are: 1. You must have lived in your current home consecutively for 5 of the last 8 years. 2. You must have a written, fully accepted contract on

It's a Buyer's Market!

Uh, not necessarily. I work with a lot of first time buyers. This year seems to be particularly busy because some markets in our area are experiencing depressed pricing compared to recent years and people are trying to take advantage of the $8,000 government tax credit. If people have stable employment and are mentally, financially, and emotionally ready, this is turning out to be a good year for them to buy. The issue becomes that

Will You Take Advantage of the $8,000 First Time Buyer Credit?

I’ve been working with a lot of first time buyers this year. Many of them have been motivated by the $8,000 first time buyer tax credit that the government is offering. A good number of them have already closed on a property and are set to receive their refund next year when they submit their Federal Income Taxes. Some of my buyers are still looking though. They are waiting for the right house. Or they