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tax credit: Get the economy going again?? Did the tax credit do that?? Or, did it give some false hope??? - 05/05/12 04:24 AM
DID THE TAX CREDIT HELP THE U.S. ECONOMY?? 
I don't believe so.  In hind-sight, what the tax credit appeared to do was- -
1.  Favored home buyers who were qualified for this limited benefit over those not qualifying.  How do you believe the buyer who missed the "first time home buyer" criteria by 3 months felt when he did his tax return??
2.  Distorted the housing market statistics by PUSHING home sales forward by 1-2 fiscal quarters, followed by lower than expected sales for the next 1-2 fiscal quarters. 
Home sales DO fuel the U.S. economy.  Always have, do now and … (5 comments)

tax credit: Homebuyer Tax Credit Deadline NOT Extended. House to approve Reid Extension Ammendment - 06/17/10 10:49 AM
CAREFUL WHAT YOU TELL BUYERS ABOUT THE EXTENSION OF THE TAX CREDIT. 
When I posted the announcement yesterday, it was QUALIFIED that the WH signature was required.
THAT IS NO LONGER THE CASE!
Consider the post below by Dana Allen who is obviously following this matter very carefully. 
Please, please, please do NOT convey to consumers that the deadline has been extended.  It has not YET been extended.  IT MAY NEVER BE EXTENDED.  After all, Congress has yet to fund the USDA Rural Housing program for this year and they have yet to approve the FLOOD INSURANCE legislation that is holding … (11 comments)

tax credit: SENATE VOTES EXTENSION FOR TAX CREDIT ELIGIBILITY TO SEPT. 30, 2010. - 06/16/10 04:55 PM
http://www.nytimes.com/reuters/2010/06/16/news/news-us-congress-tax-homebuyers.html?_r=1&hp
AND THE BEAT GOES ON.
Still needs sig. WH.
 
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.
… (16 comments)

tax credit: CONGRESS PROPOSES TO EXTEND THE TAX CREDIT DEADLINE FOR CLOSING THE SALE, - 06/12/10 08:56 AM
IF THE CONGRESS EXTENDS THE DATE BY WHICH A CONTRACT OF SALE CAN SETTLE AND THE BUYER WOULD ALMOST QUALIFY FOR THE TAX CREDIT, would you back date a Contract of Sale ratified after April 30th to help a home buyer qualify for the TAX CREDIT??? 
DON'T EVEN THINK IT!!
An interesting article in the Wall Street Journal examines the possible risks.  I'm more interested in the risks to the real estate agent who would be a party to this FRAUD.
CAN YOU SPELL TAX FRAUD?
 



 
CAN YOU SPELL MORTGAGE FRAUD?
CAN YOU SPELL ETHICS COMPLAINT?
CAN YOU SPELL E & … (32 comments)

tax credit: WHAT IS A "BINDING" CONTRACT OF SALE FOR IRS TAX CREDIT PURPOSES?? "Let's all be careful out there.." - 04/13/10 06:34 AM
WHAT IS A "BINDING" CONTRACT OF SALE FOR IRS TAX CREDIT PURPOSES??
Depends on whether you are a
HOME BUYER HOME SELLER REAL ESTATE LICENSEE IRS TAX FORM REVIEWER LEGISLATIVE BILL WRITER OTHER Sadly, this is a perfect example of the fact that the brains who dreamed up the income tax credit do not have the foggiest idea about how their programs effect the tax payers, or should I use the term the IRS uses, "Worker".  You gotta love that.  SEE:
The Worker, Homeownership, and Business Assistance Act of 2009
WHY IS THIS SO IMPORTANT?  Because the determination of what constitutes … (95 comments)

tax credit: TAX CREDIT DEADLINE HAS CREATED AN AVALANCHE OF TELEPHONE AND E-MAIL TRAFFIC - 04/08/10 07:16 PM
TAX CREDIT DEADLINE HAS CREATED AN AVALANCHE OF TELEPHONE AND E-MAIL TRAFFIC.
My phone is unplugged for the evening.  I've been qualifying prospective buyers and sending them to agents all day long, all week long.   
I know that if my phone rings, there is a 95% chance that it's a prospective home buyer who wants to buy in time to be eligible for the income tax credit. 
WHAT TOOK THEM SO LONG???
We've known about the deadline for months.  Now that there is hardly 3 weeks left to be under contract, folks are suddenly ready.
O.K.  We'll accommodate as … (34 comments)

tax credit: WHAT THE CONSUMER, ESPECIALLY FIRST TIME HOME BUYERS DON'T KNOW IS. . . . . .drum roll please! - 03/31/10 06:20 PM
HOME BUYERS ALERT! - - WHAT ARE YOU WAITING FOR??  - - THERE ARE ONLY 30 DAYS LEFT TO QUALIFY FOR THE $8,000 TAX CREDIT!
WHY DO THEY WAIT??  I believe that I've figured that out.
LanreFolayan wrote:  ANTICIPATE ALOT ACTIVITY AS APRIL APPROACHES
He's right, of course, but I have come to the conclusion that simply announcing the deadline isn't enough.
Question:  Does the serious home buyers understand that the deadline to qualify for the $8,000 tax credit is April 30, 2010?? 
Answer:  Yes!  They know about the deadline. 
The consumer and everyone else sees that announcement- - 
Over the … (20 comments)

tax credit: FIRST TIME HOME BUYER TAX CREDIT EXTENDED AND EXPANDED TO MOVE-UP BUYERS IN NORTHERN VIRGINIA. - 11/06/09 03:56 PM
FIRST TIME HOME BUYER TAX CREDIT EXTENDED AND EXPANDED TO MOVE-UP BUYERS IN NORTHERN VIRGINIA.
ALERT! First Time Home Buyers $8,000 Tax Credit EXTENDED and MOVE-UP buyers included.  
                                             
The FIRST TIME HOME BUYERS TAX CREDIT is still available.
$8,000 TAX CREDIT or REFUND is available for home buyers of Northern Virginia real estate who purchase a home through April 30, 2010.  
NEW PROVISION NOT LIMITED FOR FIRST TIME HOME BUYERS.
$6,500 TAX CREDIT or REFUND is available for home buyers of Northern Virginia real estate who have a signed Contract of Sale for a home before April 30, 2010 and close on the purchase prior to June … (9 comments)

tax credit: FIRST TIME HOME BUYER TAX CREDIT EXTENDED AND EXPANDED TO MOVE-UP BUYERS in MARYLAND. - 11/06/09 03:51 PM
ALERT! First Time Home Buyers $8,000 Tax Credit EXTENDED and MOVE-UP buyers included.  
    
The FIRST TIME HOME BUYERS TAX CREDIT is still available.
$8,000 TAX CREDIT or REFUND is available for home buyers of Maryland real estate who purchase a home through April 30, 2010.  
NEW PROVISION NOT LIMITED FOR FIRST TIME HOME BUYERS.
$6,500 TAX CREDIT or REFUND is available for home buyers of Maryland real estate who have a signed Contract of Sale for a home before April 30, 2010 and close on the purchase prior to June 30, 2010.For more information and help finding a home to buy, contact Lenn … (9 comments)

tax credit: Sellers are put on notice. Start packing and be ready to go by November 30 - 10/10/09 07:53 AM

 

GET OFF THE FENCE!
The message in Richard Weisser's post is clear.
TIME IS RUNNING OUT!
I'm about week away from taking the Tax Credit info off my web sites.  
If the credit or any permutation of it is re-enacted, I'll add it back in an updated edit.  But, for now, the message is clear.  Time is running out.
$8,000 is a lot of money. 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Via Richard Weisser Coweta Fayette Real Estate ERA United Realty: As the November 30 deadline for the expiration of the first-time homebuyer tax credit approaches, the availability of bargain properties is diminishing … (14 comments)

tax credit: USING $8,000 TAX CREDIT FOR DOWN PAYMENT?? CONFLICTING ADVISE FROM DIFFERENT SOURCES. BE CAREFUL! - 05/18/09 07:19 AM
The quote below is from the National Association of Home Builders' web site.   
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 … (33 comments)

tax credit: LOUDOUN COUNTY REAL ESTATE BUYER NEWS - * * ALERT * * Lowest Interest Rates in Decades. - 01/07/09 05:55 AM
* * ALERT * *
LOUDOUN COUNTY HOME BUYER NEWS!  We know you've been waiting for the right time.  
THE TIME IS NOW!
Loudoun County areas for wonderful home buying opportunities include:
Aldie * Ashburn * Bluemont * Brambleton * Chantilly * Dulles *Hamilton * Leesburg 
Lovettsville * Middleburg * Paeonian Springs * Potomac Falls * Purcellville * Round Hill
South Riding * Sterling * Stone Ridge * Waterford
WHY IS THIS A GOOD TIME TO BUY??
MANY HOMES ON THE MARKET LOW INTEREST RATES MANY FORECLOSURES FOR SALE BANK OWNED PROPERTIES PRICED LOW SHORT SALES WITH … (7 comments)

 


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