The Extended First Time Homebuyer & Move Up Buyer Tax Credit for Missoula Real Estate
Here's a cute video about the Extended First-Time Home Buyer Tax Credit and Move Up Buyer Tax Credit that is available to individuals who buy a primary residence by April 30, 2010.
Follow the adventures of Bob and Sally as the learn about the now extended Home Buyer Tax Credit worth up to $8000 for first time buyers and $6500 for existing home owners. It was published by Washington Homeowners.
Contact Kevin and Monica Ray today for assistance in finding your first home or to move up into a new home at 406-207-1185.
Service, Results, Peace of Mind
Kevin and Monica Rayare Missoula Real Estate sales and marketing professionals for Access Realty in beautiful Western Montana.
We provide services for Buyers and Sellers in Missoula, Mineral, Ravalli, Sanders, andLake Counties. Contact us at: 406-822-SOLD (7653) or 406-207-1185 You can also Connect with Us On these sites:
Home staging (or property styling as it's commonly known as on the Australian property scene) is really an art, not a science. One of the many things a professional home stager understands is that it's the house that's up for sale, not the home owner's bread baking ability or taste in music. So, from the sublime to the rediculous - here's 8 myths of staging to sell - busted!
1. Buyers can see past my stuff No - they can't. 95% of house hunters shop with a 'what you see is what you get' eye. You'll be maximising your chances of a better and quicker sale if you take the time to clean out, clean up and keep your look simple.
2. Baking bread, brewing fresh coffee and playing soft music will make a buyer fall in love with my house. Maybe once upon a time this was true - but most would-be buyers are onto that old trick. It's more likely to trigger alarm bells, with many wondering what it is you're trying to hide. Your buyers will be happy with a place that looks and smells clean.
3. I'll need to clear everything out to help buyers see themselves living here. This is only partly true. Wall to wall family photos are distracting, as is your porcelain rooster collection. These things are best put away. But don't go overboard, otherwise you'll end up with a look that feels cold and sterile.
4. If it's an original feature - it adds value. Sometimes yes - but often no. Generally a property built less than 50 years ago without being updated is more likely to appear dated, rather than classic.
5. My place isn't worth staging. All homes are worth taking the time to present in a positive light to buyers. The trick to knowing where to start and what to do is in having a good idea of what buyers in your target market will expect, along with learning more about what competing properties in your area are offering.
6. Empty rooms look bigger.
This is rarely the case. Buyers will always prefer to see how a room is used and what will fit in it, rather than be left to guess. Very large rooms can also be too intimidating for some. Even borrowed furniture can help buyers get an idea of scale and give the eye something of interest to focus on.
7. Converting a bedroom into a home gym won't be a problem. Bedrooms are one of the most valuable commodities of the 'for sale' property. Having a home gym set up in a bedroom will prompt buyers to wonder why that is. I remember once looking at a house where this was the case. When I came across the bedroom with the gym in it, I immediately began to question if a bed would even fit. Always give the rooms in your house a purpose.
8. No need to worry about wardrobes and cupboards. Home storage is a big deal to most buyers and is surprisingly valuable. Prospective buyers will open storage cupboards in kitchens and bathrooms, so keep them tidy. Keep only what you're using on a daily or weekly basis, and pack the rest away ready for the move.
Have you got a staging myth you'd like busted? Share them with me here.
Donna Ross
Great Impressions Real Estate Staging
"I love helping Sydney home owners and real estate agents catch the eye of choosy buyers with their 'for sale' listings, with fast, simple and inexpensive decorating fixes."
Service, Results, Peace of Mind
Kevin and Monica Rayare Missoula Real Estate sales and marketing professionals for Access Realty in beautiful Western Montana.
We provide services for Buyers and Sellers in Missoula, Mineral, Ravalli, Sanders, andLake Counties. Contact us at: 406-822-SOLD (7653) or 406-207-1185 You can also Connect with Us On these sites:
First Time Home Buyer & Repeat Buyer Tax Credit QUESTIONS & ANSWERS Explained
All new first time home buyer and repeat buyer Tax Credit are effective immediately. It does not have to occur on December 1 2009 in order to qualify. All closings occurred on November 6 2009 qualifies for the new & improved first time home buyer and repeat buyer tax credit.
First Time Home Buyers
The $8,000 first time home buyer tax credit applies to home buyers that purchase homes at $80,000 or more. Anything less than $80,000, the tax credit that applies is 10% of the purchase price.
Repeat Buyers
There is NO PROVISION that stipulates that the Repeat Buyer must purchase a home more expensive than the one sold.
There is NO PROVISION that says the Repeat Buyer must sell the home before the new one close.
Qualifying sale of existing principal residence must be any five-consecutive year period during the eight-year period that ended on the date the replacement home is purchased.
New Income Limits
For home purchases on or after November 6 2009, new income limits raised to Modified Adjusted Gross Income of $125,000 for a full refund and phase out adjustment up to $145,000 for single taxpayer.
Modified Adjusted Gross Income of $225,000 and phase out adjustment up to $245,000 for married taxpayers.
Purchase by a Dependent
There was no age limitation on the original bill and amended for the November Tax Credit. Taxpayer must be at least 18 years old to qualify for the credit. For married taxpayers, the taxpayer shall be treated as meeting the age requirement if the taxpayer or spouse meets the age requirement.
Repeat Buyers
There is no criteria that home buyers must "move up" in house. Only that they lived in the house for the past 5 out of 8 years as a primary residence. The new purchase price must not exceed $800,000.
Date of Enactment = November 6 2009.
For 2008 Purchases
For home purchases in 2008, the tax credit works as if it is a 15-year no-interest loan up to $7,5000. The total amount of tax credit equals 10% of home purchase price.
For 2009 Purchases
For home purchases in 2009, the tax credit is 10% of purchase price to a maximum of $8,000. On or after November 6 2009, repeat buyers qualify also.
Tax credit:
Applies to taxpayer's principal residence
Reduces taxpayer's tax bill, dollar for dollar
Is fully refundable which means if the taxpayer is eligible and owes no tax, taxpayer will receive a full refund.
When to File For This Tax Credit
First time home buyers who purchase a home in 2009 can claim the tax credit on 2008 tax return by filing for an amended return or 2009 tax return. Credit may not be claimed before closing.
The credit is claimed using Form 5405 with an original or amended tax refund.
Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.
Kevin and Monica Rayare Missoula Real Estate sales and marketing professionals for Access Realty in beautiful Western Montana.
We provide services for Buyers and Sellers in Missoula, Mineral, Ravalli, Sanders, andLake Counties. Contact us at: 406-822-SOLD (7653) or 406-207-1185 You can also Connect with Us On these sites:
The much-anticipated extension to the home buyer tax credit has finally been approved. The Senate's vote yesterday resulted in a 98-0 win and today it was passed in the house. The bill now moves to the President's desk for a final signature.
First-time home buyers have been eligible for tax credits of up to $8,000 since last January as part of this year's economic stimulus package. The newly backed program will expand the credit to include existing home owners.
Under the revised program, those who have owned a home for at least five years will be able to apply for tax credits of up to $6,500 when they purchase their next home. To qualify, buyers will have to sign a purchase agreement by April 30, 2010 and close by June 30.
The maximum purchase price on a home will be $800,000 with vacation homes not eligible. Income limitations are $125,000 for single tax payers and $225,000 for joint filers.
The National Association of Realtors (NAR) and the National Association of Home Builders (NAHB) have been lobbying hard for the extension and expansion of the tax credit. NAR claims that so far, about 1.4 million first-time homebuyers have qualified for the program and they estimated that 350,000 of these buyers would not have otherwise purchased.
The tax credit is also set to be extended for another year for military personnel serving outside of the United States until June 30, 2011.
Senator Johnny Isakson, who heavily pushed for the extension, along with his own version that would have increased the credit to $15,000 stated, "This is probably the last extension."
But, is this really true? When April 2011 comes around and the housing market is still not in full recovery mode, will the politicians be able to let this go and actually come to an end, or could it possibly become a more permanent subsidy?
Kevin and Monica Rayare Missoula Real Estate sales and marketing professionals for Access Realty in beautiful Western Montana.
We provide services for Buyers and Sellers in Missoula, Mineral, Ravalli, Sanders, andLake Counties. Contact us at: 406-822-SOLD (7653) or 406-207-1185 You can also Connect with Us On these sites:
Missoula Offers a High Quality of Life - And Missoulians Like It!
A study was just released by Missoula ADAPT, Area Development And Preservation Team, showing 94% of Missoulians are satisfied with the overall high quality of life in Missoula.
Some of the study's other findings:
88% are happy with Missoula's public parks and open spaces
81% are happy with Missoula's city government
Respondents were also asked about their areas of concern, for respondents growth and development, schools and education, affordable housing, and traffic congestion were the top four.
Results come from telephone interviews with 253 voters in Missoula County with approximately 60 percent from the city and 40 percent from outside the city limits. The survey notes a sample error of plus or minus 6 percent at the 95 percent confidence level.
Missoula ADAPT is a nonprofit and loose coalition of professionals and residents interested in housing.
For more information about Living in Missoula, contact Kevin and Monica Ray of Access Realty at 406-207-1185 or visit us online at www.YourMT.com.
Service, Results, Peace of Mind
Kevin and Monica Rayare Missoula Real Estate sales and marketing professionals for Access Realty in beautiful Western Montana.
We provide services for Buyers and Sellers in Missoula, Mineral, Ravalli, Sanders, andLake Counties. Contact us at: 406-822-SOLD (7653) or 406-207-1185 You can also Connect with Us On these sites:
Western Montana's Bitterroot Valley is Hit Hard By Foreclosures
According to a recent article in The Ravalli Republic, property foreclosures in the Bitterroot Valley have skyrocketed over the past year.
The county recorded 339 trustee sales notices between October 2008 and October 2009 - an 83% increase from the previous year and a shocking 260% increase from the year before that.
The article goes on to state that the total number of trustee sales won't be known until next spring but it is estimated to be exceed 400.
The report is consistent with reports of declining sales in rural housing markets across the country. The Bitterroot Valley also experienced higher gains and rapid construction during the good times.
We are experienced in working with bank-owned and pre-foreclosure properties in the Bitterroot Valley. If you are looking to buy or sell in the Bitterroot, contact Kevin and Monica Ray of Access Realty at 406-207-1185.
Service, Results, Peace of Mind
Kevin and Monica Rayare Missoula Real Estate sales and marketing professionals for Access Realty in beautiful Western Montana.
We provide services for Buyers and Sellers in Missoula, Mineral, Ravalli, Sanders, andLake Counties. Contact us at: 406-822-SOLD (7653) or 406-207-1185 You can also Connect with Us On these sites:
Speechless Sunday: The Montana Winter Is On Its Way
Kevin hiked back to the State Line Trail near Superior last week where Winter is starting to set in. We've had a little bit of snow in the valley but it hasn't lasted. Just a friendly reminder from Mother Nature that the Montana Winter is on its way.
Kevin and Monica Rayare Missoula Real Estate sales and marketing professionals for Access Realty in beautiful Western Montana.
We provide services for Buyers and Sellers in Missoula, Mineral, Ravalli, Sanders, andLake Counties. Contact us at: 406-822-SOLD (7653) or 406-207-1185 You can also Connect with Us On these sites:
How One Lender Used Social Media to "WOW" a Client Today
We've all experienced delays on closings for one reason or another and they're never fun. But when they happen at the last minute it can cause a lot of stress for all parties involved in the transaction. Well that scenario happened to us this morning.
We had a closing scheduled for 1:00 today with our Buyer who arrived by train at 1:00 a.m. this morning from the East Coast to close on her new home. Her furniture is also scheduled to arrive today.
The sellers of the house she's buying are packed and ready to be out of the house today and are also closing on their new home at the same time.
So needless to say, everyone is counting on the closing to happen as scheduled today.
At 8:15 a.m. this morning we get "The Call" from the Title Company stating that they talked to Quicken Loans (the lender) and it looks like we won't be able to close for a week at least.
As you can imagine, a moment of panic set in along with a lot of other strong emotions and a few *#*#*@@ expletives. We called the Buyer and the Seller's agent to let them know and were met with more strong emotions. The Buyer called the lender immediately.
We use Twitter on a daily basis and have found it to be an invaluable marketing and communications tool in our business. I Tweet about many events so mentioned that
"I'm not impressed with Quicken Loans this Morning" on Twitter.
In less than a minute, I had a response from Kelly @QuickenLoans asking what she could do to help.
She also followed me so I was able to send her a Direct Message and an email about the issue so everything wasn't broadcast publicly. (This is a good strategy by the way - if you have a client issue, try to take it offline).
I sent Kelly at Quicken Loans my client's name by email. Of course my comment generated some discussion on Twitter and I received several responses, including one from my friend Justin McHood who is a loan officer in Arizona.
Within minutes of this tweet, we had an email from a Client Service Specialist and the Loan Officer explaining what she needed. Our client also called and was able to speak to the Loan Officer and was able to request the form Quicken needed from her attorney.
The Loan Officer told us if they received the form they could close today and she would do everything she could to help us close on time. Our client was able to get the document to them but unfortunately, the title company is booked for today. So, we're scheduled to close tomorrow - a slight delay but certainly one we can all live with, and much better than a week's delay.
So of course, I had to update my Twitter status:
In real estate transactions, occasional delays are bound to happen - especially with all of the new guidelines that lenders have to comply with. I have more than one horror story about working with out-of-state lenders who were unresponsive and difficult to work with. Fortunately, QuickenLoans isn't one of those companies and I have to say I'm impressed with their service on the overall transaction, and how quickly they responded when there was an issue.
Service, Results, Peace of Mind
Kevin and Monica Rayare Missoula Real Estate sales and marketing professionals for Access Realty in beautiful Western Montana.
We provide services for Buyers and Sellers in Missoula, Mineral, Ravalli, Sanders, andLake Counties. Contact us at: 406-822-SOLD (7653) or 406-207-1185 You can also Connect with Us On these sites:
How Much Does It Cost to Rent in Missoula Montana?
According to a study from the National Association of Residential Property Managers (NARPM) that was published by the Missoulian this summer, a rental in Missoula typically runs between $520 per month for a studio apartment to $1400 per month for a 4+ bedroom house on average. The table below shows a breakdown:
Studio
1 BR
2 BR
3 BR
4+ BR
Apartment
520
560
685
860
1140
Duplex
450
535
700
940
1035
House
-
630
885
1100
1400
There are many factors to consider when you are looking to rent such as:
Does the rent include utilities? If not, how much do those run per month?
Do you need or want a yard?
How much is the deposit?
Do they allow pets? Is there an additional deposit?
Where is the property located? Will it be convenient to work or school?
What other amenities are included?
How long are you planning to rent?
Would there be advantages to buying rather than renting?
For more information on Living in Missoula, contact Kevin and Monica Ray of Access Realty at 406-822-7653 (SOLD) or visit us online at www.YourMT.com.
Service, Results, Peace of Mind
Kevin and Monica Rayare Missoula Real Estate sales and marketing professionals for Access Realty in beautiful Western Montana.
We provide services for Buyers and Sellers in Missoula, Mineral, Ravalli, Sanders, andLake Counties. Contact us at: 406-822-SOLD (7653) or 406-207-1185 You can also Connect with Us On these sites:
After blogging for close to three years, we have developed an extensive library of content on real estate-related articles. Google loves our content and rewards us by ranking us highly for many local real estate terms and neighborhoods.
Our blog works very hard for us, 24 hours a day, 7 days a week, helping consumers learn more about the area, find our home search, promoting our listings, and asking them to contact us for their real estate needs. All of this hard work pays off by helping us connect with people who need help with real estate.
We've also been using our blog as a quick and easy way to put together a e-newsletter to our Sphere of Influence. When I go to compile a new newsletter, I have lots of relevant articles to draw from for content which makes creating a newsletter a breeze, and our contacts love it. I'm always receiving positive comments about our newsletter.
Over the summer, I decided that I'd like to really leverage my blog content and get it to work even harder for us. I wanted buyers and sellers who work with us to feel like we were providing them with the knowledge and resources to make their real estate experience easier. I decided to take our library of blog posts and use them in two additional ways:
1.) Created an Online Relocation/Area Guides on My Website - I have lots of Localism posts about Where to Go and What to Do in Missoula and the surrounding communities that would be helpful for people who want to learn more about the area. Since I wanted to create a "Virtual Relocation Guide" on my website, I put together some information about the area but also provided links to relevant Blog posts about specific restaurants and attractions. Here's our Living in Missoula page on our website.
2.) Created a Communications Plan for Buyers and Sellers - Since we've started in real estate, we have made it a priority to communicate to our clients and prospects on a regular basis. We decided to create communication plans for prospects and sellers and provide information on buying and selling with links to specific articles on our Blog.
So for instance, for a first-time homebuyer we will send a welcome email thanking them for working with us with information about us, our website, a link to our home search tool, and a few blog posts or "Articles". A week later we will send them another note with a link to a few more articles, and so on.
Some examples of posts we send are ones about what they need to apply for a mortgage, $8000 tax credit basics, Why They need a Radon test, Why They should use a Buyer's Agent, etc.
Since we've implemented the Online Relocation Guides and the Communication Plans, we've seen an increase in traffic to our website and our Blog and have found that people are also spending more time on the sites. We've also gotten a lot of positive feedback from our clients.
There are lots of ways to leverage your Blog content and make it work even harder for you. I know ours will be putting in a lot of overtime.
Kevin and Monica Rayare Missoula Real Estate sales and marketing professionals for Access Realty in beautiful Western Montana.
We provide services for Buyers and Sellers in Missoula, Mineral, Ravalli, Sanders, andLake Counties. Contact us at: 406-822-SOLD (7653) or 406-207-1185 You can also Connect with Us On these sites:
Welcome to Our Western Montana & Missoula Real Estate Blog. We provide professional real estate sales & marketing services across Western Montana in Missoula, Mineral, Ravalli, Lake & Sanders Counties. Visit our website www.YourMT.com.
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.
The much-anticipated extension to the home buyer tax credit has finally been approved. The Senate's vote yesterday resulted in a 98-0 win and today it was passed in the house. The bill now moves to the President's desk for a final signature. 
Western Montana's Bitterroot Valley is Hit Hard By Foreclosures
We've all experienced delays on closings for one reason or another and they're never fun. But when they happen at the last minute it can cause a lot of stress for all parties involved in the transaction. Well that scenario happened to us this morning.
Posted by 
How Much Does It Cost to Rent in Missoula Montana?
There are many factors to consider when you are looking to rent such as:
As If My Blog Wasn't Working Hard Enough Already
So for instance, for a first-time homebuyer we will send a welcome email thanking them for working with us with information about us, our website, a link to our home search tool, and a few blog posts or "Articles". A week later we will send them another note with a link to a few more articles, and so on.
;)
;)
