tax credit: Do you have to repay your 2008 homebuyer tax credit??? - 11/03/10 09:24 AM
Repayments on the 2008 Home Purchase Tax Credit Do people who claimed a tax credit for a 2008 home purchase have to repay the federal government? The answer is: It depends.The original credit was for up to $7,500 for people who bought a principal residence between April 9, 2008, and Dec. 31, 2008. Buyers who claimed this original version are required to repay the credit in equal installments over 15 years, starting with their 2010 tax return.If they sold the property in 2010, they have to repay the lesser of either the $7,500 credit or their gain on the sale if any. … (0 comments)
tax credit: Payments coming due on original tax credit...yikes! - 09/10/10 01:28 PM
Recipients of First Tax Credit to Begin Payback Borrowers who took advantage of the original 2008 home buyer tax credit must begin paying the credit back this year. The Inspector General for Tax Administration (TIGTA) says 950,000 owe money.The required payments are amortized over 15 years – $500 per year. If the property is sold, the credit must be paid at closing.The TIGTA says the IRS has the incorrect purchase date in its database for some taxpayers who took the original credit. These people may never be identified as owing money, it admits.Source: Bankrate.com, Kay Bill (09/09/2010)
Mike Jones (904) 874-0422 … (1 comments)
tax credit: Houses for sale in Jacksonville at all time lows! - 09/03/10 05:57 PM
According to White house officials and real estate industry experts there is no talk of extending home buyer tax credits. In extending the tax credit for a third time last fall, lawmakers warned that they would not do so again. It's important to realize that today's interest rates provide a long term savings that dwarfs the one time $8000 tax credit that was so popular prior to April 2010. I have been showing a lot of homes lately and even though I have been helping people buy and sell real estate for more than 10 years now, I'm still astounded at the fantastic deals … (0 comments)
Rates versus Tax Credit Many are concerned that the end of the "tax credit" is a death blow to the housing market. Consider though, where interest rates are in todays market compared to the past and you will see a different picture. The tax credit was a temporary, one time benefit for a buyer that qualified. However, getting a fixed rate below 5% on a 30 year mortgage will last for the entire life of the loan. Think about it...just a few months ago, rates were in the … (2 comments)
tax credit: 10 Things to Know About Real Estate in 2010 - 01/03/10 01:10 PM
Jacksonville Real Estate Listings 10 Things to Know About Real Estate in 2010 by Luke MullinsTuesday, December 29, 2009provided by Is 2010 the year to buy a house? It certainly looks that way: After a steep run-up in prices during the first half of the decade, home values have plummeted back to 2003 levels. Fixed mortgage rates are sitting near record lows. And the foreclosure epidemic--while painful for many home owners--has created some wonderful opportunities for bargain hunters. If that's not enough, Uncle Sam is handing out thousands of dollars in tax credits to nearly all first-time buyers and the bulk … (4 comments)
tax credit: EXTRA! EXTRA! Read All About It! Tax Credit for closing cost... - 05/29/09 02:56 PM
HUD: Tax Credit Can Be Used on Closing Costs FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.The loans can't be used to cover the minimum 3.5 percent, senior … (0 comments)
tax credit: First time buyer tax credit....the basics - 05/12/09 02:19 PM
Bringing the Dream of Homeownership Within Reach As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers. Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream. Who Qualifies? First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009. To qualify as a "first-time home buyer" the purchaser or his/her spouse may not have owned a residence … (0 comments)
tax credit: Tax credit for down payment?? A novel idea! - 05/12/09 02:12 PM
SEARCH OVER 10,000 HOMES FOR SALE IN JACKSONVILLE SEARCH OVER 1100 HOMES IN ORANGE PARK, FL SEARCH OVER 600 HOMES FOR SALE IN MIDDLEBURG SEARCH OVER 120 HOMES FOR SALE IN FLEMING ISLAND BUILD YOUR OWN HOMES SEARCH
Tax Credit Can Be Used for Down Payment Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.Previously, most buyers wouldn't receive the funds until after they filed their tax return, and … (0 comments)
tax credit: A great buy! Homes for sale in Oakleaf Plantation - 04/27/09 09:00 AM
Orange Park Real Estate offer this beauty in Forest Brooke @ Oakleaf! An incredible buy and ready for new owners! First time home buyers must close by November 31 to qualify for the $8000 tax credit
Offered at only $209,900 Presenting the best buy in Oakleaf! This magnificent two story home features an open and functional floor plan with close to 2500 square feet, 4 big bedrooms, 2 ½ baths and a separate office offering a great view of the large back yard. You'll also enjoy a formal dining and living area, fantastic eat in kitchen with beautiful upgraded 42" … (2 comments)
tax credit: 6 Reasons why it's a good time to buy Jacksonville Real Estate - 03/30/09 05:53 PM
6 Reasons Why It's Still a Good Time to Buy The housing market is looking healthier. Here are six reasons why now is the time to jump into the market.1. Uncle Sam is willing to help. First-time buyers (defined as anyone who hasn't owned a home in the last three years) are entitled to a maximum $8,000 tax credit; interest rates are at record lows; and the Federal Reserve is doing its best to make mortgage loans available. Find out more about the tax credit here.2. People have to live somewhere. About 800,000 new households are formed each year in this … (0 comments)
tax credit: The buck STARTS here! - 03/25/09 10:29 AM
If you are looking for homes for sale in Jacksonville, Florida and surrounding areas such as , St Augustine, Green Cove Springs, Middleburg, Orange Park, Mandarin, Ponte Vedra there is no need to look anywhere else. If you don't see what you are looking for below.......we can find it for you. First Time Home Buyer Tax Credit Search All Homes Get Your Homes Value Pick of the week!!
… (0 comments)
tax credit: 8000 reasons to buy in 2009 - 02/28/09 08:20 AM
Jacksonville and Orange Park first time home buyers...LOOK! In addition to all time low interest rates, a huge supply of inventory and the many DEALS to be had....you now have an additional 8000 reasons to buy NOW!! 2009 Housing Stimulus bill: $8000 Home buyer tax credit for first time home buyersThe proposed $789 billion economic stimulus package contains a key housing stimulus bill designed to help first time homebuyers in order to revive the US housing market. This 2009 Economic stimulus plan has finally been signed by the President and is now a law. If you are a first … (0 comments)
tax credit: Revised home buyer tax credit - 02/18/09 04:32 PM
Jacksonville and Orange Park home buyers alert! (really this is for everyone) First-time home buyers: How to get the $8,000 tax creditWASHINGTON - Feb. 17, 2009 - How does a first-time home buyer take advantage of the $8,000 tax credit that President Obama is expected to sign into law tomorrow? It comes with a few rules. According to the most recent analysis, the following rules will apply - though things could change as tax professionals weigh the details: · The deduction is worth 10 percent of a home's value up to $8,000, which means all homes worth more than $80,000 could … (1 comments)
tax credit: Hope for the housing market - 02/09/09 03:10 PM
Jacksonville and Orange Park home buyers, this is tremendous news! New stimulus package proposes tax credit for home buyers Last week, the Senate verbally approved the Fix Housing First Act, an important amendment to their version of the Economic Stimulus Bill. The piece of legislation and the Stimulus Bill are still awaiting Senate and House negotiations, but could provide all home buyers of primary residences over the next year with a tax credit of $15,000 or 10 percent of the cost of the home, whichever is less. The credit will not need to be repaid unless the home is sold within … (0 comments)
tax credit: Best Buy List! 4 Bedrooms in Jacksonville - 01/13/09 04:07 PM
So, like Jacksonville Florida needed another home to come on the market! As far as listings go buyers should find that this is one of those rare finds. It's not a Short Sale, not a Foreclosure, it's condtioned perfectly and it's priced at market value.
Check this one out!
11420 Brian Lakes Drive in the Adams Lake subdivision priced at less than $88 per square foot. Beautifully maintained, nicely landscaped with a covered front and back porch, larger rooms, upgraded kitchen, lake view and more. Did I mention it's priced well???? Buyers get your tax credit!!
… (0 comments)
tax credit: $7500 Tax Credit ~Time is running out~ First Time Home Buyers - 01/11/09 01:35 PM
In my day to day travels and in talking with people about Jacksonville and Orange Park Real Estate I am often asked many questions about the real estate market. There are many topics on peoples minds these days and it seems the news about interest rates being so low has folks asking about buyer incentives and the First Time Homebuyer Tax Credit as one of many available. First-Time Home BuyerTax Credit Fact Sheet
2008 Housing Stimulus Legislation Who is Eligible? The $7,500 tax credit is available for first-time homebuyers only. The law defines a first-time homebuyer as a buyer who has not … (1 comments)
Related Links:
Mike & Cindy Jones Jacksonville, Fl Real Estate (904) 874-0422
Selling your Jacksonville or Orange Park home, vacant land investment property in todays highly competitive real estate market. Pricing and marketing are the name of the game today. Buyers, get information on how to take advantage of one of the best buyers markets ever
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.
Repayments on the 2008 Home Purchase Tax Credit Do people who claimed a tax credit for a 2008 home purchase have to repay the federal government? The answer is: It depends.The original credit was for up to $7,500 for people who bought a principal residence between April 9, 2008, and Dec. 31, 2008. Buyers who claimed this original version are required to repay the credit in equal installments over 15 years, starting with their 2010 tax return.If they sold the property in 2010, they have to repay the lesser of either the $7,500 credit or their gain on the sale if any. … (0 comments)
;)
;)
;)
