As we enter the fourth and final week of February, I am reminded as to where the market was last year at this time versus this year. I have seen showings become more frequent in the past week and the excitement over spring's arrival in the next few weeks definitely brings people out to look. [...]
Homebuyers who are claiming either the $6,500 move up credit or the $8,000 First Time Homebuyer Tax Credit cannot file electronically, according to the IRS. One of my past clients let me know of this after she read an article on MSN. (Thank you for the information and link!) The reason for this restriction is [...]
When the Homebuyer Tax Credit was extended to include long-time homeowners buying new houses and getting a $6,500 credit, a whole new group of questions came into play. Unfortunately for a few clients of mine (and I am sure many others out there), the answers were not what they were hoping. One person owns a [...]
**Update: According to the National Association of REALTORS (R) , the answer to the main question below is YES, buyers settling houses after November 6, 2009, even if under contract before the bill was signed, would qualify for the credit. I still recommend speaking with your tax accounting professional to determine your eligibility and to be certain on [...]
Please see more updated posts on the" tax credit extension" where some of these questions & answers & dates are addressed. ----------------------------------- There are many confusing points and valid questions at the forefront of the "tax credit extension" and new credit for second time buyers, and in delving further, I am not finding the answers [...]
CNN reports that the House of Representatives voted 403-12 to extend the first time homebuyer tax credit this afternoon. The Senate passed this measure yesterday. The next step is to go to the President's desk for his signature. There are many questions as to whether buyers under contract now will be able to take advantage [...]
According to CNN, by a vote of 98 to 0, the Senate voted to extend unemployment benefits and extend the First Time Homebuyer Tax Credit! The next step is to move onto the House of Representatives, who is expected to pass it as well as early as tomorrow, and get the bill into President Obama's [...]
According to the Associated Press, per their article of 8 pm October 28, 2009, the Senate agreed to extend the Homebuyer Tax Credit for people writing contracts through the end of April, 2010, and settling by the end of June, 2010. They are also including a reduced credit of up to $6,500 for repeat buyers [...]
Towson Condo Owners have a new issue to grapple with. First there was the change in the laws for condo insurance converage. Now we have the new FHA condo guidelines that may affect many people who want to buy or sell a Towson condo! HUD announced this change in July, and the new guidelines were to take place [...]
Last week, Baltimore County went back to school. A long Labor Day weekend allowed for a feeling of lengthened summer, but today is the official day that we are back in full swing and the long days of summer are over. Since kids are back in school, that usually brings a boost to the Towson [...]