I bought my first home in 1979 and in all the homes I have bought and sold since then, the government never gave me a cash back. I recently read an article in the 12-27-09 LA TIMES that indicates there will be no further extensions of time to participate in the First Time Buyer/Move Up Buyer Tax Credit Program.

Quote from the LA Times states that:  "Proponents of the $8,000 credit for first-time buyers and the $6,500 credit for move-up buyers made it clear during the debate on Capitol Hill that the benefits would not be renewed when they expire. And a lobbyist for the National Assn. of Realtors confirmed that at the group's annual convention last month. Lawmakers "made us promise practically in blood that we would not come back" for another extension, Linda Goold, the Realtor group's director of tax policy, told her members."

If you are a first time buyer or if you are a present home owner who has been wanting to move but didnt think it possible...now is the time. You have a perfect triangle of circumstance to get you packing the moving boxes! According to the local MLS, home prices have fallen 20% or more since 2006. Interest rates remain low and you get money back as well?

The bulk of my buyers in 2009 have been first time buyers, dont get left behind when this program expires in April 2010! Contact me for the latest listings and best deals in Elkhart and St Joseph County! I can email you details, set up appointments, give you all the information you need to make an informed, intelligent decision.

Link to the full LA TIMES article referenced here: http://www.latimes.com/business/la-fi-lew27-2009dec27,0,7521446.story

When I was a child my grandma possessed some delightful Singer Sewing cards that had bird and bird egg illustrations on them. I attribute my love of birds, gardens and sewing to my Grandma Jones. She also taught me about being patient.

I have put out 3 bluebird houses for the last 3 years. I keep 2 heated birdbaths for the birds and have been rewarded each year in those long cold days of winter with groups of bluebirds stopping by for a drink. The brilliant flash of blue feathers against the grey skies brought me hopes of spring and the thought "next spring they will come back to make nests in my houses". Up until now, I was disappointed, although a couple of house wrens were very happy to find the "deluxe" bluebird accomodations available for their nests.

In 2009 we have hit the JACKPOT!  A nesting pair settled in the tiniest of my houses and have now raised 2 broods of 4 babies and are currently laying a third brood, with 3 tiny blue eggs currently in residence. Each day I faithfully reward them with meal worms to feed hungry babies. I also do nest checks daily to make sure all is well and pests havent attacked the babies. My reward is seeing these tiny bits of fluff grow into flying youngsters.

I feel the same sense of accomplishment watching them fly as I do when I wrap up another transaction. Even when its been a tough one to close, it is still time to "give yourself a pat on the back". We all get so caught up in what we are doing, in reacting to the last call, text or email. Grab a lemonade, find a shady tree and take some time today to reflect on how things are going. Take a few moments to get excited about the possibilities coming your way and get out there and MAKE IT HAPPEN!

From a just released report from the Indiana Association of Realtors, we find a continuing down trend in the state and the local Elkhart County market.

For the State through May 08 compared to May 09

Total Units Sold Down from 5,811 to 4,660 or a 19.8% decrease

Median Prices Down from $115,000 to 110,100 or 4.3% decrease

For Elkhart County May 08 compared to May 09

Total Units Sold Down From 131 to 121 for a 7.6% decrease.

Median Price Down from $115,000 to $86,500 for a 24.8% decrease.

Year -To-Date Sales Totals for the State

Total Units Sold Down  from 23095 to 18498 for a decrease of 19.9%

Median Sales Price Down from $107,000 to $97,000 for a decrease of 9.3%

For Elkhart County Year-To-Date Sales

Total Units Sold Down from 601 to 461 for a decrease of 23.3%

Median Sales Price Down from $108,000 to $85,000 for a decrease of 21,3%

Links to original statistics, courtesy of the IAR (used w/ permission)

http://www.indianaishome.com/4_0_Reports.asp

Have we found the bottom yet? One would hope so, but with foreclosures and short sales continuing to batter our home values and sales, it remains to be seen. Although we have seen some upward movement in activity this year, the numbers unfortunately don't reflect this.

So if you are a homeowner who is being forced to move due to relocating your job to another state, you will have to have a brutally honest agent helping you to determine an agressive pricing strategy along with a marketing package that will put your home in front of the pack in condition and price. 

Even if you are relocating to a market that has not been hit hard, its likely you will be paying less on the other end as well, so take that into consideration when your agent suggests marketing your home for several thousand dollars less than you think its worth. In addition to having your home in tip top condition, you need to calculate how much its going to cost you to carry this home from month to month. The last thing you want to do is hang on to that higher price for too long and after a few months of paying double payments you find yourself in a financial box.

Be smart, be aware and GO SELL YOUR HOUSE!

  Lots of people have heard of Twitter, Facebook and LinkedIn by now. A good portion of you are tweeting, blogging and staying in touch regularly with your network, friends, and family. Along the way you are also in hope of finding your next client or referral.

How about helping someone find their next job?

With nano second speed, a single tweet sent out January 29, 2009. is starting to help the unemployed one job at a time. Sent by Mark Stelzner Principal/Founder at Inflexion Advisors, the tweet said “Was thinking that if each of us helped just 1 person find a job, we could start making a dent in unemployment. You game?”  In a short period of time, over 1,500 Job Angels have spread themselves across the internet. Donations of network space, time, and expertise have started making a big difference in helping people who need to find a connection to a new job and a new hope in their lives.

Many people in the world today look at the US and think we are going down for the count. Some of them are rejoicing at the thought. How little they actually know the American people and their spirit. From the food bank drives being held all over the country. From the school kids saving their pennies to help another in need. Job Angels is another indication that while we may be down, we are far from being out.

If you or someone you know could become a Job Angel, will you do your part by spreading the message to those you know? These are the links to the various groups and the website. 

Job Angels Website http://www.jobangels.org/ 

Twitter: http://twitter.com/jobangels

LinkedIn: http://www.linkedin.com/groupAnswers?viewQuestions=&gid=1789016&forumID=3&sik=1235779285211

Facebook: http://www.facebook.com/group.php?gid=47105839914

Winter does not deter me, I enjoy its frosty days and even the occasional blizzard. This time of year I am ready for winter to be gone and spring to arrive. My internal clock wants spring days and my appetite wants something different, something thats not comfort food, that has some crunch. This is a recipe that I use to give me the crunch I am craving, bright color on my plate and the promise that soon it will be warm again.

I hope you enjoy it as much as I do.

Winter Coleslaw

Place in a large mixing bowl

1 cup chopped walnuts ( alternate choice: 1 cup toasted, chopped or sliced almonds)

1/4 c sunflower seeds

1 tsp. celery seed

1 cup shredded carrots

1 c. dried cranberries

2 cups red cabbage

2 cups green cabbage

2 Tbs chopped fresh chives

Dressing:

1/3 cup of white balsamic vinegar (can use white vinegar if balsamic is not available)

1/4 cup sugar or to taste

1/4 cup canola or light olive oil

Salt and pepper to your taste

Mix dressing ingredients in a shaker, shake and mix well until the sugar is dissolved. Pour over salad ingredients, let set a minimum of 4 hrs or more before serving. This is a salad that gets better with each day.

Will keep for 5-6 days.

First-Time Home Buyer Tax Credit  FAQ'S

Congress Enacts Bigger and Better Home Buyer Tax Credit


Provided Courtesy of CENTURY 21 Realty Group
February 17, 2009, 4:57 PM

A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid.

The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.

The following questions and answers provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.

Who is eligible to claim the tax credit?
First-time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit,  a home purchase must occur on or after January 1, 2009 and before December 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner.

1. Who is elibible to claim the tax credit?  First-time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner.
   
   
2. What is the definition of a first-time home buyer?  The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse.
   
   For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.
   
   
3. How is the amount of the tax credit determined?
   The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
   
   
4. Are there any income limits for claiming the tax credit?
   The tax credit amount is reduced for buyers with a modified adjusted gross income (MAGI) of more than $75,000 for single taxpayers and $150,000 for married taxpayers filing a joint return. The tax credit amount is reduced to zero for taxpayers with MAGI of more than $95,000 (single) or $170,000 (married) and is reduced proportionally for taxpayers with MAGIs between these amounts.
   
   
5. What is "modified adjusted gross income"?
   Modified adjusted gross income or MAGI is defined by the IRS. To find it, a taxpayer must first determine "adjusted gross income" or AGI. AGI is total income for a year minus certain deductions (known as "adjustments" or "above-the-line deductions"), but before itemized deductions from Schedule A or personal exemptions are subtracted. On Forms 1040 and 1040A, AGI is the last number on page 1 and first number on page 2 of the form. For Form 1040-EZ, AGI appears on line 4 (as of 2007). Note that AGI includes all forms of income including wages, salaries, interest income, dividends and capital gains.
   
   To determine modified adjusted gross income (MAGI), add to AGI certain amounts such as foreign income, foreign-housing deductions, student-loan deductions, IRA-contribution deductions and deductions for higher-education costs.
   
   
6. If my modified adjusted gross income (MAGI) is above the limit, do I qualify for any tax credit?
   Possibly. It depends on your income. Partial credits of less than $8,000 are available for some taxpayers whose MAGI exceeds the phaseout limits.
   
   
7. Can you give me an example of how the partial tax credit is determined?
   Just as an example, assume that a married couple has a modified adjusted gross income of $160,000. The applicable phaseout to qualify for the tax credit is $150,000, and the couple is $10,000 over this amount. Dividing $10,000 by $20,000 yields 0.5. When you subtract 0.5 from 1.0, the result is 0.5. To determine the amount of the partial first-time home buyer tax credit that is available to this couple, multiply $8,000 by 0.5. The result is $4,000.
   
   Here’s another example: assume that an individual home buyer has a modified adjusted gross income of $88,000. The buyer’s income exceeds $75,000 by $13,000. Dividing $13,000 by $20,000 yields 0.65. When you subtract 0.65 from 1.0, the result is 0.35. Multiplying $8,000 by 0.35 shows that the buyer is eligible for a partial tax credit of $2,800.
   
   Please remember that these examples are intended to provide a general idea of how the tax credit might be applied in different circumstances. You should always consult your tax advisor for information relating to your specific circumstances.
   
   
8. How is this home buyer tax credit different from the tax credit that Congress enacted in July of 2008?
   The most significant difference is that this tax credit does not have to be repaid. Because it had to be repaid, the previous "credit" was essentially an interest-free loan. This tax incentive is a true tax credit. However, home buyers must use the residence as a principal residence for at least three years or face recapture of the tax credit amount. Certain exceptions apply.
   
   
9. How do I claim the tax credit? Do I need to complete a form or application?
   Participating in the tax credit program is easy. You claim the tax credit on your federal income tax return. Specifically, home buyers should complete IRS Form 5405 to determine their tax credit amount, and then claim this amount on Line 69 of their 1040 income tax return. No other applications or forms are required, and no pre-approval is necessary. However, you will want to be sure that you qualify for the credit under the income limits and first-time home buyer tests.
   
   
10. What types of homes will qualify for the tax credit?
    Any home that will be used as a principal residence will qualify for the credit. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats. The definition of principal residence is identical to the one used to determine whether you may qualify for the $250,000 / $500,000 capital gain tax exclusion for principal residences.
    
    
11. I read that the tax credit is "refundable." What does that mean?
    The fact that the credit is refundable means that the home buyer credit can be claimed even if the taxpayer has little or no federal income tax liability to offset. Typically this involves the government sending the taxpayer a check for a portion or even all of the amount of the refundable tax credit.
    
    For example, if a qualified home buyer expected, notwithstanding the tax credit, federal income tax liability of $5,000 and had tax withholding of $4,000 for the year, then without the tax credit the taxpayer would owe the IRS $1,000 on April 15th. Suppose now that the taxpayer qualified for the $8,000 home buyer tax credit. As a result, the taxpayer would receive a check for $7,000 ($8,000 minus the $1,000 owed).
    
    
12. I purchased a home in early 2009 and have already filed to receive the $7,500 tax credit on my 2008 tax returns. How can I claim the new $8,000 tax credit instead?
    Home buyers in this situation may file an amended 2008 tax return with a 1040X form. You should consult with a tax advisor to ensure you file this return properly.
    
    
13. Instead of buying a new home from a home builder, I hired a contractor to construct a home on a lot that I already own. Do I still qualify for the tax credit?
    Yes. For the purposes of the home buyer tax credit, a principal residence that is constructed by the home owner is treated by the tax code as having been "purchased" on the date the owner first occupies the house. In this situation, the date of first occupancy must be on or after January 1, 2009 and before December 1, 2009.
    
    In contrast, for newly-constructed homes bought from a home builder, eligibility for the tax credit is determined by the settlement date.
    
    
14. Can I claim the tax credit if I finance the purchase of my home under a mortgage revenue bond (MRB) program?
    Yes. The tax credit can be combined with the MRB home buyer program. Note that first-time home buyers who purchased a home in 2008 may not claim the tax credit if they are participating in an MRB program.
    
    
15. I live in the District of Columbia. Can I claim both the Washington, D.C. first-time home buyer credit and this new credit?
    No. You can claim only one.
    
    
16. I am not a U.S. citizen. Can I claim the tax credit?
    Maybe. Anyone who is not a nonresident alien (as defined by the IRS), who has not owned a principal residence in the previous three years and who meets the income limits test may claim the tax credit for a qualified home purchase. The IRS provides a definition of "nonresident alien" in IRS Publication 519.
    
    
17. Is a tax credit the same as a tax deduction?
    No. A tax credit is a dollar-for-dollar reduction in what the taxpayer owes. That means that a taxpayer who owes $8,000 in income taxes and who receives an $8,000 tax credit would owe nothing to the IRS.
    
    A tax deduction is subtracted from the amount of income that is taxed. Using the same example, assume the taxpayer is in the 15 percent tax bracket and owes $8,000 in income taxes. If the taxpayer receives an $8,000 deduction, the taxpayer’s tax liability would be reduced by $1,200 (15 percent of $8,000), or lowered from $8,000 to $6,800.
    
    
    
18. Is there any way for a home buyer to access the money allocable to the credit sooner than waiting to file their 2009 tax return?
    Yes. Prospective home buyers who believe they qualify for the tax credit are permitted to reduce their income tax withholding. Reducing tax withholding (up to the amount of the credit) will enable the buyer to accumulate cash by raising his/her take home pay. This money can then be applied to the downpayment.
    
    Buyers should adjust their withholding amount on their W-4 via their employer or through their quarterly estimated tax payment. IRS Publication 919 contains rules and guidelines for income tax withholding. Prospective home buyers should note that if income tax withholding is reduced and the tax credit qualified purchase does not occur, then the individual would be liable for repayment to the IRS of income tax and possible interest charges and penalties.
    
    Further, rule changes made as part of the economic stimulus legislation allow home buyers to claim the tax credit and participate in a program financed by tax-exempt bonds. Some state housing finance agencies, such as the Missouri Housing Development Commission, have introduced programs that provide short-term credit acceleration loans that may be used to fund a downpayment. Prospective home buyers should inquire with their state housing finance agency to determine the availability of such a program in their community.
19.  If I’m qualified for the tax credit and buy a home in 2009, can I apply the tax credit against my 2008 tax return?

Yes. The law allows taxpayers to choose ("elect") to treat qualified home purchases in 2009 as if the purchase occurred on December 31, 2008. This means that the 2008 income limit (MAGI) applies and the election accelerates when the credit can be claimed (tax filing for 2008 returns instead of for 2009 returns). A benefit of this election is that a home buyer in 2009 will know their 2008 MAGI with certainty, thereby helping the buyer know whether the income limit will reduce their credit amount.

Taxpayers buying a home who wish to claim it on their 2008 tax return, but who have already submitted their 2008 return to the IRS, may file an amended 2008 return claiming the tax credit. You should consult with a tax professional to determine how to arrange this.

For further information click on this link: http://www.federalhousingtaxcredit.com/2009/faq.php

If you needed any further convincing that now is a great time to buy, the following information should ease your mind. If you, or any one you know, is interested in buying or selling or has questions about the housing market, please contact me.

As I searched the garden centers this summer for a new pot for this Pony Tail Palm it brought back the journey the palm and I have been on for the last 15 years or so. This baby was in a 1 gallon pot in Sarasota FL when it came to live with me. It road on the front seat of my car for the 1500 mile trip back to Indiana. I wanted to bring a small bit of Florida with me and this was it.

I have to baby it more here in the north, protect its bark from hungry Indiana squirrels, water it just so through the long cold winters. Pony Tails, like other palms are tropical in nature and they store water in their bases for the long dry spells of their native environments. I know that too much water can kill them quickly and not enough water dries the fronds badly, especially when the pot is parked in front of the heat registers. The old pot was a clay pot of the type you cant purchase here and I knew going into a larger pot, one has to be careful not to increase the pot size too much, especially for plants that prefer being crowded a bit in the root zone.

After transplanting I watched anxiously as it seemed that one of the heads was throwing up some new frond growth, but the other was not. However since its been moved inside, the other head is now also starting some new growth. Once again if I listen to my plants I am reminded to be patient, stay grounded in the moment and be grateful for what I have.