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 [...]
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 [...]
On Tuesday I wrote about an exciting new program that HUD & FHA were rolling out to let the $8000 Tax Credit for First Time Homebuyers be used as a downpayment. That has now been retracted, and the letter removed from the HUD site. Yet Yesterday, HUD Secretary Donovan said that many states already were [...]
**Update May 14, 2009, please see my update that HUD has retracted its statement and that this may NOT be the case everywhere.** The Secretary of the U.S. Department of Housing and Urban Development announced at the National Association of Realtors summit today that the FHA is going to allow lenders to let First Time [...]