Do unemployment rates and home prices have a link?

A few weeks ago I wrote a blog about the low unemployment rate in Logan, Utah. Logan has the second lowest unemployment rate in the nation at 2.8%.

Today I read that a report by the Federal Housing Finance Agency said while home prices in Utah have dropped over 6%, home prices in Logan increased 1.9 percent last year. That ranks Logan 32nd in the country among metropolitan areas.

So my question is, do these two stories have something in common or is this just a coincidence?   

Johnnie Rosser

RE/MAX Excel

Logan, Utah

http://uthomelist.com

The American Recovery and Reinvestment Act of 2009, (The Stimulus Bill) is investing $6 billion in energy efficiency. Through 2010 homeowners will be able to claim a 30% tax credit when you make your home more energy efficient. The tax credit will be 30% of the purchase price for new furnaces, energy efficient windows and to insulate your home. Talk with your tax expert to find out what you need as proof when yourfile your taxes.                                                        

Take advantages or these great incentives and save some money on your utilities for years to come.

Johnnie Rosser

RE/MAX Excel

Logan, Utah

http://uthomelist.com

While I don't agree with many of the things in The American Recovery and Reinvestment Act of 2009, (The Stimulus Bill). There is one part that will help those of you looking to buy your first home in 2009.  You are also considered a first time home buyer if you have not owned a home for at least 3 years.

Those who buy their first home between January 1, 2009 and November 30, 2009 can claim a tax credit of 10% of the purchase price up to $8,000 on their 2008 or 2009 income taxes.

Like all government programs there are some catches:         

1. You have to live in the home as your primary residence for a minimum of three years, or you will have to pay it back.

2. There are some annual income requirements. Buyers must make less than $75,000 for singles or $150,000 for a couple. If you make more than that you may qualify for partial credit.

3. If you close before April 15, 2009 you may be able to apply the credit to your 2008 taxes. If you are not able to close the loan before the deadline you will have to wait until next year when you file your 2009 taxes.

4. If you are already receiving a refund, the $8,000 will be added to your refund. So if you federal tax refund would be $1,000, now it will be $9,000.

5. If you owe taxes, the $8,000 credit will be applied to what you owe first. You will receive a refund for the balance.

It is estimated that this tax credit will bring an additional 300,000 home buyers into the market. Will you be one of them? 

JohnnieRosser    

RE/MAXExcel   

Logan,Utah   

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 jrosser@remax.net                                                                                               http://uthomelist.com                                                                    

First time home buyer specialist. 

Dear Members of Congress that voted yes for The American Recovery and Reinvestment Act of 2009,

                 We are told over and over again, don't sign anything you haven't read and don't understand. As a real estate agent when I am at the closing table with a client it is my job to make sure they understand what they are signing. If they don't I haven't done my job.

Today the House, and it looks like the Senate will as well, voted to pass a 1071 page bill less than 24 hours after they received it.

I only have one question for those of you that voted in favor of this bill today. Did you read it?

If you did not, how could you vote yes? This is the largest spending bill in the history of the United States and you didn't even take the time to know what you are voting for.

When time comes for you to run for re- election I will again ask you this question. Did you read The American Recovery and Reinvestment Act of 2009 before you voted in favor of it? If you answer No, I did not read it, I will campaign for your opponent no matter who that person is. You were elected by the people to represent us. How can you represent the people you serve if you don't even take the time to understand what you are voting for?

            I'm sure George Washington read the Constitution before he signed it. Don't you think you should read the bill that will change the country before you sign it?

Johnnie Rosser