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tax credit: C'Mon, Everyone's Doing It: Nationwide Open House Weekend! - 03/30/10 02:25 PM
Last year's Washington Statewide Open House has gone NATIONWIDE and we're gearing up for a huge weekend event across the region, Sat. April 10 and Sun. April 11.
This is Great Timing! The Nationwide Open House is an incredible opportunity for you to shop for a new home while:
* Interest rates are still at a historical low
* Home prices are lower than they've been in years
* There are a variety of home choices available, including bank owned, foreclosure, and short sale properties
* The Homebuyer Tax Credits are still available. (Contract has to be in place by April … (2 comments)
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tax credit: 7 Things You NEED to Know About the $6500 Tax Credit! - 01/08/10 12:45 PM
Several months ago Congress approved a $6500 tax credit for homebuyers aimed at so-called "move up" buyers. Though it's been law since November, there are still a lot of questions and mis-information floating around. Here are a few things you should know about taking advantage of the tax credit:
To qualify, you must have owned and lived in your current home for a consecutive 5 out of the last 8 years. And your income must be below $125k if you're single, $225k if you're married filing jointly. You may "move up" (buy a more expensive home) or "downsize" (buy a less … (1 comments)
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tax credit: But Prices are Still Going Down, Right? Maybe, Maybe Not! - 07/09/09 09:21 AM
Will prices go down further? That's a question I am asked nearly every day. The answer is, nobody knows. The only way to know when the market bottoms out is in hindsight, when prices have started to climb again. There are great deals to be had right now because some sellers are motivated and need to sell today. However, there are several factors that point to prices remaining fairly steady in this area:
Washington's economy is extremely strong with unemployment below 5%! The Washington State Office of Financial Management predicts the state will add another 2 million residents within the next … (0 comments)
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tax credit: More Q&A About the $8000 Tax Credit - 05/04/09 09:24 PM
A few months back the government made first-time home buyers eligible for a tax credit of up to $8000. I get questions about this almost daily and have covered some standard queestions in previous blogs. Here are some more "obscure" questions and answers:
Q. I purchased a home that qualifies for the first-time homebuyer credit. I will be renting two of the bedrooms and reporting the rental income on Schedule E. Will I still qualify for the credit if I use the home as my principal residence?
A: Yes, if you meet all first-time homebuyer eligibility requirements. See Form 5405, First-Time Homebuyer … (0 comments)
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tax credit: We're Gonna Party Like it's 2005! - 04/17/09 01:30 PM
Remember the days of multiple offers? Houses on the market for only a few days? Buyers who were so eager to buy, they were willing to pay more than list price? Seems like just yesterday...
...Beause it was!
I am in my third multiple offer situation in as many weeks! And I had clients recently miss out on a house that sold in two days! I'm not complaining; this is just what we've been wiating for. Lowered home prices, low interest rates and the new $8000 tax credit have worked their magic and have brought wall-flower buyers out on the dance … (6 comments)
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tax credit: What Would YOU Do With an Extra $8000? - 02/26/09 11:14 PM
There has been a lot of talk, and even more questions, about the new $8000 home buyer tax credit. Here are a few of the most frequently asked questions - and answers in plain English:
Who gets the credit? First-time home buyers or someone who hasn't owned a home in three years.
How much is the credit, really? $8000 or 10% of the home's value (whichever is less.)
How do you get it? Simply claim it on your 2008-2009 taxes.
When is the deadline? The home must be purchased between January and November 2009.
Is this a loan in disguise? NO! … (0 comments)
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tax credit: Thank You Mr. President! - 02/16/09 02:32 PM
In honor of President's Day I thought I'd talk about the stimulus plan recently signed by President Obama. While every bit of the stimulus bill affects all of us, because my career is Real Estate I pay most attention to the housing portion. (Just as an auto manufacturer would pay most attention to the auto industry bailout.) Here is a brief summary of the new housing tax credit:
The tax credit in the Stimulus Bill has been scaled down to $8,000 from its previous level of $15,000, or 10% of the value of the home for any first time homebuyers who … (0 comments)
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S&B Real Estate Team
Vancouver,
WA
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Capstone Washington Real Estate, LLC
Address: 411 E 29th St., Vancouver, WA, 98663
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