Real estate blog entries tagged with tax credit by Colorado Dream House Team, Real People. Real Professionals. Real Estate (Keller Williams Realty DTC)

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tax credit: Home Buyer Credit Still Available For Qualifying Vets! - 03/23/11 09:55 PM

Once in a blue moon, Washington does the right thing for people who truly deserve it. Qualified service members, who were ordered on a period of official extended duty, have until April 30, 2011 to get a home under contract to qualify for the home buyer tax credit. Qualified service members is defined as a member of the uniformed services of the U.S. Military, a member of the U.S. Foreign Service, or an employee of the intelligence community. Official extended duty means any period of extended duty outside the United States for at least 90 days from December 31, 2008 until May 1, 2010. In addition, anyone who had … (1 comments)

tax credit: Geothermal Is HOT. By Dan Polimino. - 01/24/11 08:48 PM

In the last several years, you have been hearing a lot about the “Green Movement.” That means finding ways to be more energy efficient while having a minimal negative impact on the environment. Former Colorado Governor Bill Ritter made green energy a priority in his four years on the job, as is Obama’s administration. On the Real Estate front, builders have gotten into the game by constructing homes with green materials like recycled carpet, tiles, 50-year composite roofs, LED lighting, and more efficient heating and cooling systems.
One of the systems that should be getting more publicity that really saves … (2 comments)

tax credit: The Tax Credit Is Expiring. By Dan Polimino. - 11/29/10 06:32 PM

Many people know that the Bush Tax Cuts are set to expire Dec 31st. How many people know that the Green Energy Tax Credit is also expiring on Dec 31st? You‘ve seen it in stores – it’s the energy star efficient label that tells people they can get up to $1500 tax credit for using energy star efficient appliances. The tax credit also applies to people making green energy improvements to their homes. Simply put in an energy efficient water heater, a furnace, an air conditioner, windows, a heat pump, or a green roof and you get up to a $1500 … (3 comments)

tax credit: 5 Months After The Tax Credit Expiring – What Effect Did It Have On The Market? - 09/28/10 11:12 PM

http://www.coloradodreamhouse.com/index.php/news/ The tax credit expired 5 months ago and we’ve had five months now to analyze the effect. It turns out it had a bigger impact than many first thought on today’s sales. To find out how the tax credit affected every buyer and seller watch this week’s market update with Fuller Sotheby’s International Realty Agent Dan Polimino.

… (3 comments)

tax credit: New FHA Program for Borrowers with Negative Equity - 09/10/10 02:15 AM

FHA loans registered on or after October 4, 2010, will have a lower upfront mortgage insurance premium (MIP) and a higher annual premium paid monthly. The upfront MIP will decrease to 1% from the current 2.25%. On a $200,000 mortgage, a borrower would save $2,500 in upfront costs. Thirty year fixed rate mortgages with a loan to value (LTV) under 95% will increase to 85 basis points (bps) and thirty year loans with a LTV over 95% will increase to 90 bps. For a $200,000 mortgage this means increases of $60 or $70 per month. On a fifteen year fixed rate loan, the annual MIP paid monthly will be 25 bps if the LTV is over … (0 comments)

tax credit: Better off without the Tax Credit? - 08/31/10 02:28 AM

Yes, you might be better off buying now than when the tax credit was in effect. The reasons are very simple. A historic drop in interest rates and less competition if you are buying residential property under $400,000. If you were taking out your mortgage today, your interest rate would probably be around 4.5% for a thirty year fixed rate mortgage. Rates in April were right around 5.25%. You would be spending $135 less on your monthly payment, for an annual savings of $1,620 per year.
Home sales hit a wall with the expiration of the tax credit, reminiscent of how … (4 comments)

tax credit: Can We Keep It Going? By Dan Polimino. - 08/01/10 08:57 PM

No doubt about it, it’s been a good summer. It can’t even come close to comparing to last summer when I wondered if we would ever sell a home again. The first signs of good things came from my assistant Linda at Fuller Sotheby’s in March. Linda handles administrative services for several brokers in our office and one day back in March, she looked particularly busy. I asked her how her day was going and she replied that the office is in mid-summer form. I asked her what she meant. She said she’s normally only this busy with homes under contract … (1 comments)

tax credit: Why the ending of the Federal Home Buyer Tax Credit is a good thing……… - 04/06/10 02:04 AM

As most of you know, the end of the tax credit is just a few short weeks away on April 30, 2010. Under the guidelines, you have to be “under contract” by April 30, and then close the transaction by June 30, 2010 in order to receive the either $8000 First Time Buyer credit or the $6500 Move Up Buyer credit. The tax credit was extended back in November of 2009 at a time when home values and prices were continuing to fall and our government was trying to help solve that problem. I believe we did the best we could … (5 comments)

tax credit: Tax Credit Countdown. By Dan Polimino. - 03/07/10 09:47 PM

Ok, here we go again. We are roughly 45 days away from the Federal Tax credit expiring for would-be home buyers. It seems like we just went through this the other day and in fact, it was just last October when we were writing articles just like this. It’s mid-March and at the end of April, the tax credit for home buyers and first-time home buyers will expire. The question is did you take advantage of it?
I hope you did and if you didn’t, there is still time, but a word of warning to all the procrastinators out there. I … (1 comments)

tax credit: Been told your credit score is not good enough? - 02/12/10 01:25 AM

So you are sitting on the sidelines right now missing out of the $8000 First Time Home Buyer Tax Credit because someone at the bank told you that your score was not good enough to buy right now. The banker probably did not provide much more information other than you “need to fix your credit and pay your bills on time” if you want to buy a house.
What are you supposed to do get started on that path of homeownership? Are you going to try to figure this credit fix stuff out on your own? Worst yet hire a credit … (2 comments)

tax credit: Attention all First Time Home Buyers…..Do you know if you are maximizing your Federal Tax Savings? - 02/04/10 07:57 PM

Sure, as a new home buyer you are going to get your $8000 tax credit for buying a home (provided you close before the deadlines) and you will begin to “itemize” your tax deductions (real estate property taxes, mortgage interest, and points) going forward each year. All of these can potentially save you allot of money on your federal taxes which one of the many reasons people chose to buy rather than rent. But did you chose the right loan program to enhance your tax savings or allow to you qualify for that extra $20,000 in purchase price?
The Mortgage Credit … (0 comments)

tax credit: Encouraging Signs. By Dan Polimino. - 12/06/09 08:13 PM

Everyone is always looking for encouraging signs when it comes to the economy. After all, the economy is the number one topic on everyone’s mind these days and with the Holiday season here, people are looking at retails’ numbers as one sign to gauge if the economy is getting better.
In real estate, there are a number of factors one could use to take the pulse of the market. Let’s take a look at few indicators that spell good news for the Denver Housing market.
1) At the beginning of October, Standard & Poor's closely watched S&P/Case-Shiller Home Prices Index showed … (2 comments)

tax credit: Dan Polimino is giving away $250,000 - 11/24/09 06:11 PM

Colorado Realtors Dan Polimino, Gary Lohrman and Mortgage Lender Andy Jorgensen are at it again.
This time the trio is giving the American public a chance to win $250,000 dollars in cash towards their Colorado Dream Home.
Maybe you have been wanting to buy a first home, maybe you have dreamed of buying land and building a home or maybe you just want upgrade. No matter the reason Dan, Gary and Andy want to give this money away.
Just visit www.firsttimehomebuyerdenverco.com or www.taxcreditforeveryone.com and click on the link that says “click here for your chance to win $250,000 toward your dream … (0 comments)

tax credit: Your Chance To Win $250,000 dollars In Cash Towards Your Dream Home - 11/19/09 08:10 PM

tax credit: Fuller Sotheby's Agent Dan Polimino talks about this weeks market update for Denver Colorado - 11/17/09 07:58 PM

Fuller Sotheby’s agent Dan Polimino talks about how the tax credit extension has the phone ringing and people buying homes in Denver Colorado. He also talks about what it means for future buyers and seller. Finally he tackles the outlook over the final six weeks of the year. … (0 comments)

tax credit: Good News For Home Buyers! By Dan Polimino. - 11/15/09 11:37 PM

I am sure by now that you saw the news from two weeks ago about the first-time home buyers’ tax credit being extended through April 30, 2010 and Congress creating a new credit for people other than first-time home buyers.
This was one of the best scenarios we could hope for. The only way that this could have been better is if it was a $15,000 tax credit for first-time buyers and everyone else, but we’ll take what they passed. More importantly, there are several reasons why this will continue to help the housing market and the economy overall.
First, you … (1 comments)

tax credit: Tax Credit for Everyone! - 11/05/09 06:05 PM

There is now a tax credit for everyone and an extension for first time home buyers!
Today is GOOD NEWS for those of you thinking about buying a home or a first home. The House and Senate have finalized a version of the tax credit extension for first time buyers and created a credit for all buyers. The current proposal will extend the current $8000 first time home buyer tax credit that expires on November 30, 2009 to April 30, 2010. In addition, there will be a clause that allows you to close beyond that point (to June 30, 2010) provided … (5 comments)

tax credit: Fuller Sotheby's Agent Dan Polimino talks about this weeks market update for Denver Colorado - 11/03/09 07:10 PM

Fuller Sothebys Agent Dan Polimino talks about the recent decision in Congress to extend the first time home buyers tax credit. Dan says it's good for everyone, but don't get too excited because it's not a done deal yet. … (0 comments)

tax credit: Fuller Sothebys Agent Dan Polimino talks about this weeks market update for Denver, Colorado - 09/30/09 11:28 PM

Fuller Sothebys Agent Dan Polimino talks about the final 60 days for first time home buyers and the $8,000 dollar tax credit. He outlines a plan for any first time home buyer looking to meet the deadline. … (0 comments)

tax credit: 60 Days. By Dan Polimino. - 09/27/09 10:57 PM

The two most frequently asked questions I am getting these days are: 1) Is there still time left to get a home and qualify for the first time home buyer’s 8,000-dollar credit? 2) Will the government extend the first time home buyer’s tax credit?
First things first: yes, there is still time left to get qualified and find a home but you need to move NOW. Have a discussion with a lender as soon as possible about your credit, down payment, or down payment assistance and how much you qualify for. Then get out with a realtor and start looking for … (1 comments)

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