Cockeysville houses that sold in February 2010 were up 40% over February 2009 from an average sales price of $203,000 last year up to $284,450. Under contract prices are down 19% over last year at this time to $300,000 from $372, 450. For sale is down 5% to $339,900 from $359,900 last year. There were [...]
A discussion I have been involved with here in the Baltimore area about the crippling snow and the effect on the Baltimore real estate market has people in the real estate world wondering if the homebuyer tax credit may be extended again. On Monday, the Wall Street Journal wrote an article about the credit, and [...]
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 [...]
Cockeysville and Hunt Valley home sales in 2009 statistically were very stable. There were consistently over 100 houses on the market for sale in Hunt Valley. December 2009 was a slow month with only 4 houses going under contract, but other months on average 10-16 did. That same average applies for properties that settled. From [...]
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 [...]
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 [...]
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 [...]