Congress today approved legislation that will extend the first-time home buyer tax credit beyond its Nov. 30 deadline and expand it to a wider group of home buyers.
The legislation, which will be signed into law shortly by President Obama, will extend the $8,000 credit for first-time home buyers for sales contracts entered into by April 30, 2010 and closed by June 30.
Further, it has been expanded to include a new $6,500 credit for owners of existing homes who are purchasing a new primary residence. An existing home owner can claim the $6,500 tax credit if they have been residing in their primary residence for five consecutive years out of the last eight.
In more good news, the income eligibility limits to claim the full credit amount for both groups of home buyers have been raised from $75,000 for single taxpayers and $150,000 for married taxpayers filing a joint return to $125,000 for individuals and $225,000 for married couples.
The University of Akron entered a new era in Akron football on September 12, 2009 when they hosted Morgan State in their home opener in a new stadium. The new stadium is an "on-campus" facility and a vast improvement over the historic Rubber Bowl which was located some distance away from campus. The new "on-campus" stadium ought to attract thousands of university students who live in university dorms and off-campus housing giving the football program an opportunity to increase game attendance.
The University of Akron has a long football history dating back over 130 years. In 1968 the "Zips" played in the Grantland Rice Bowl but had the misfortune of running into a relatively unknown quarterback by the name of Terry Bradshaw. They lost to Louisiana Tech in that game 33-13 and, of course, we all know that Bradshaw went on to win four Super Bowl rings with the Pittsburgh Steelers.
John Heisman coached at Buchtel College (now known as The University of Akron) in 1984. Interestingly enough, that season only had one game; a 12-6 victory of The Ohio State University.
On September 12, 2009 27,881 fans celebrated The University of Akron's home opener against Morgan State. No one in attendance was disappointed. Akron dominated the game and was on the front end of a 41 - 0 score. The result of the game, however, wasn't as important as the level of pride everyone felt for this university and their efforts to raise the football program to a highr level.
On September 19, 2009 The University of Akron will host Indiana at their new stadium marking this the first time in history that a "Big 10" school traveled to Akron for a football game. Win or lose, Dr Proenza and the Board of Trustees are to be congratulated for their efforts in brining a "first class" facility to Akron and instilling a high level of pride for this growing football program in the Akron community.
Great invetment property in Canton. Close to a local hospital and elementary school. This home is "move-in" ready and will require minimal work in order to get ready for renters.
This home is also a great deal for first-time home buyers.
Time is Running Out to Take Advantage of the 8K Tax Credit
Many "First-Time Home Buyers" have taken advantage of the $8,000.00 tax credit available to them under the American Recovery and Reinvestment Act.
For many other "First-Time Home Buyers," however, time is running out. The law requires that a home must be purchased and closed on a principal residence before December 1, 2009.
The Key point to remember is that you must close before December 1, 2009.
Keep in mind that many transactions take between 45 and 60 days to close. In order to take advantage of the tax credit a prospective buyer will have to make their decision to purchase by the beginning or middle (at the latest) of October.
Historically low interest rates, affordable housing, and the $8,000.00 tax credit for "first-time home buyers" makes now the best time to buy.
Staging a home adds appeal. When potential buyers view your home you want them to see it as a home that could be theirs. You want them to feel like it could be their home and not someone else's.
I recently listed a home that was staged nicely and had "tons" of appeal. It was listed on April 6 and had a contract written on April 8.
The seller listened and understood the importance of preparing their home for the market. They also understood the importance of staging their home to give it that "warm and inviting" appeal.
http://www.JonWHome.com
Firestone Park dream home!
5bedrooms, 3 full baths, 2 kitchens, finished basement, 3 car garage and more! You'll enjoy this spacious brick Cape Cod located in Firestone Park. Property includes a double lot.
Firestone Park is located in south Akron and is part of the rubber industry neighborhoods established in the early years of the Firetone Tire and Rubber Company. Firestone Country Club is located nearby and is also connected with the early years of Akron's Rubber Industry.
http://www.JonWHome.com
Funds are available for homebuyers through the Welcome Home Program. These funds may be used by any home buyers who qualify under income levels based on family size.
Below you will find a brief summary of the Welcome Home Program. For more details, you can go towww.fhlbcin.com
Welcome Home Program
Welcome Home funds may be used to fund down payments and closing costs when you purchase your home. You must occupy the home as your primary residence and have income that falls within the low and moderate income levels.
Lenders participating in the Welcome Home Program will have funds available beginning May 1, 2009.
Funds may be used only to assist households whose incomes are at or below 80% of the income limits adopted by the appropriate state housing finance agency (and are adjusted for family size).
Homebuyers must contribute at least $500 of their own funds toward down payment and closing costs (60% of these funds may be received as a gift). This requirement is waived if the homebuyer is disabled (additional documentation may be required).
First-time homebuyers must complete a homebuyer counseling program. The counseling program must cover the following:
Mortgage financing
Credit-worthiness
Household budgeting
Home maintenance
Counseling is not required of other home buyers.
The loan will be forgiven over five years, at a rate of $1,000 a year. In other words, a home owner who used Welcome Home funds to purchase a home and received a $5,000 grant must occupy the home for no less than five years in order to have the entire amount of the grant forgiven. Selling the home in less than five years may require the home owner to pay back a portion of this grant.
Contact your lender to see if they participate in the Welcome Home program.
I was invited to an open house by an Active Rain member and attended. Michael Hoffman invited me to attend an open he was having on a home that was going to auction shortly. I enjoy meeting Active Rain members in my area face-to-face and Michael is no exception. He was gracious enough to talk to me about his auctions and explain some of the processes involved. I must say I learned a little more through our discussions. As we spoke, a few investor clients came to mind who might have an interest in Michael's auctions. I'll email them the information and see if they have an interest.
What A Deal
This one will go fast. Check out the bargain on this 3-bedroom/2-bath condo located in Mill Run. This “free-standing” ranch home is within a short drive of local businesses and golf courses. You'll enjoy a beautiful master bedroom with walk-in closet and built-in shelves, master bath with corner garden tub, his and her sinks, impressive great room with fireplace, carpeting, casual family room, first floor laundry, 2 car garage, beautiful oak trim throughout, impressive crown molding and more!
You will enjoy morning coffee and cool summer evenings on your maintenance free vinyl deck located in the back just off the kitchen area.
I recently listed a home in "Historic Ridgewood." It was listed on April 6 and had an offer on April 8.
We don't often get a "quick" sale on our listings but every now and then we get a home that will move fast. What is the difference between this home and other listings I've had?
Four factors come in mind:
Location
Price
Staging
Preparation
Location: This home is located in Historic Ridgewood in Canton, Ohio. There are several different architectural designs in this area that make it unique. The area also has a great history; you can read more about it by following the link below:
Price: The seller understood the importance of pricing a home to sell. We looked at the comps and did an analysis of homes in the area that had recently sold. We also had the benefit of a recent appraisal; however, it was two years old.
Staging: The seller did a great job in staging this home. Everything was perfect and the home had "tons" of appeal.
Preparation: Before we listed this home we did a "walk through" and identified areas that needed to be addressed in order to get the home ready for the market. There was some painting to be done and some minor repairs to be made. The seller made a checklist of all the things he needed to do and followed up by doing the needed work.
We took the view that a home could have a great deal of positive factors that may impress a buyer but it only takes one negative to offset all the good. The seller did a great job of doing the things he needed to do in order to eliminate any "negatives."
My blog will include a variety of items including Real Estate Shows for my listings as well as questions and items of interest. There are issues, we encounter on a daily basis and I am interested in getting your feedback to improve my information base and share your thoughts with others in our profession.
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Infocision Stadium- Summa Field
on September 12, 2009 when they hosted Morgan State in their home opener in a new stadium. The new stadium is an "on-campus" facility and a vast improvement over the historic Rubber Bowl which was located some distance away from campus. The new "on-campus" stadium ought to attract thousands of university students who live in university dorms and off-campus housing giving the football program an opportunity to increase game attendance.
The University of Akron has a long football history dating back over 130 years. In 1968 the "Zips" played in the Grantland Rice Bowl but had the misfortune of running into a relatively unknown quarterback by the name of Terry Bradshaw. They lost to Louisiana Tech in that game 33-13 and, of course, we all know that Bradshaw went on to win four Super Bowl rings with the Pittsburgh Steelers.
State. No one in attendance was disappointed. Akron dominated the game and was on the front end of a 41 - 0 score. The result of the game, however, wasn't as important as the level of pride everyone felt for this university and their efforts to raise the football program to a highr level.
Staging: The seller did a great job in staging this home. Everything was perfect and the home had "tons" of appeal. 
;)
;)
