The Benefits of Homeownership
The benefits of homeownership are undeniable, some even consider it to be the “American Dream”. Buying your first home can provide financial and emotional security, a sense of belonging, and an opportunity to build equity. Here at the …
$8000 & $6500 Home Buyer Tax Credit Review
The Home Buyer Tax Credit is no longer front page news but that doesn’t mean it should be forgotten. Under the current rules, enacted in November, a first-time buyer or qualifying repeat buyer, must be in contract by …
Senate Agrees to First Time Buyer Credit and Expansion
Just reported on MSNBC “Senators agree to extend homebuyer tax credit” Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their …
The $7290 First Time Buyer Credit?
There are lots of different ideas about how Congress is going to address the First Time Home Buyer Credit which ends at the end of November. The only thing that is clear is that the topic is being …
First Time Buyer Credit News Update
Time is running out for the First Time Buyer Credit but Congress seems to be moving towards an extension. The possibility of writing an offer and closing on a short sale property before the deadline passed weeks ago. …
Should the First Time Buyer Credit be Extended?
The National Association of Realtors estimates that an additional 350,000 people bought real estate this year because of the first time buyer credit. Calculated Risk, in turn calculates that the cost of the $15.2B program was therefore $43,300 …
You Cannot use $8000 First Time Buyer Credit for Down
HUD announced this week that last week’s announcement was null and void. Reported here and most outlets regarding real estate, it was thought that qualified first time buyers would be able to use the $8000 credit as a …
Who is a First Time Buyer According to the IRS?
The Obama’s stimulus package has altered the the First Time Buyer Credit to be a true credit and not a loan that must be repaid. The two images here show how the IRS defines who is and is …