First Weber Group has talked about the First Time Buyer Tax Credit before here in this blog. And we don't want you to forget about this great opportunity, so here are 6 important facts you need to know. Read the entire article and details here from REALTOR.org and more about the tax credit here at the official website.
1. Buyers have until June 30, 2009 to make a purchase that qualifies (the tax credit site above also says until July 1, we chose to quote June 30 to be on the safe side)
2. Buyer's don't really have to be "first timers"
Really? The REALTOR.org article states it is also available to an individual or household that hasn't owned a home for at least three years.
3. Even if buyers exceed the income limit, they can benefit from the cedit, in part.
The article states that individuals making more than $75,000 and less than $95,000 (and Households up to $170,000) can take the credit on a reduced basis.
4. Think of the credit as an interest free loan.
The Federal Government does require the money to be paid pack in small amounts over 15 years (although the National Association of REALTORS is pushing for the repayment requirement to be removed). Some have likened the credit to a 15 year interest-free loan to make home buying more affordable.
5. You do not need "authorization" before making a home purchase.
Eligible buyers just need to claim the credit on their tax forms.
6. New home construction does qualify - but only if a primary residence.
And in this special situation, the article states the "purchase date" is the first date the buyer occupies the home.
Has this opportunity got you thinking about making your move to be a first time home buyer in Wisconsin? If so, please share.
Darla Rowley, an Accedited Home Staging Professional and owner of Impact! Interior Design Solutions, says residences should be furnished when they are on the market to fetch the best price and generate the most buyer interest. She notes that buyers cannot typically visualize their own furnishings in the home, and they are less likely to notice oddly shaped rooms if the house is furnished. Rowley said home stagers should be hired to determine where to place furniture and which items should be removed. She also encourages home sellers to leave vacant dwellings at normal temperature, keep up landcaping and lawns and ask someone to pick up any mail still coming to the house. Sellers forced to relocate due to their jobs can ask their companies to cover the cost of staging, as it often speeds up the sales process and thus reduces carrying costs and temporary housing expenses.
Read the entire article by Darla Rowley here at the Realty Times.
Today you can vote for your choice of President of the United States. Please take the time to cast your vote! Voting is serious business.
On the lighter side, you can also cast your vote here for the Ugliest House, the second annual contest run by HomeVestors. There's a chance to win a $10,000 debit card. You have until November 15 to cast this vote.
I am not sure if "ulgiest house" is the right title. I thought maybe the pictures would show bad architecture, ugly decorating, but the house are just in serious disrepair. The first one I looked at was just disgusting. Unfortunately, one house is in Milwaukee...
Tuesday, November 4. 2008
Good news on national real estate. The National Association of REALTORS reported existing home sales were up 5.5% to a seasonally adjusted rate of 5.18 units in September 2008 versus 4.91 million in August.
Sales are higher than they were this time last year.
The housing inventory, or homes available for sale, fell to a 9.9 month supply, down from 10.6 months. This is the second consecutive month that inventorires have declined.
The only "bad news" amidst these positive notes is the national median existing home price fell slightly to $191,600, down from a year ago when the media price was $210,500.
Pay attention to these signs to buy!
Tuesday, November 4. 2008
We've been really busy with new marketing for 2009 and are excited for next year. If you are thinking of buying Wisconsin real estate, now is the time to start! It won't be a buyer's market forever... Take advantage of the lower prices in this current market!
