Southlake Real Estate - Southlake Homes for Sale

Are you one of the 2 Million Americans Expected to Take Advantage of Extended, Expanded Homebuyer Credit

Rosanna Hudson (Texas Sold Team Realty, LLC) — Tue, 29 Dec 2009 16:08:16 -0800

Are you one of the 2 Million Americans Expected to Take Advantage of Extended, Expanded Homebuyer Credit

2 Million Americans Expected to Take Advantage of Extended, Expanded Homebuyer Credit RISMEDIA, December 2, 2009—More American homebuyers will get tax relief thanks to changes made to the First-Time Homebuyer Credit. H&R Block advises the popular credit is now more accessible to existing homeowners and first-time homebuyers in three ways: 1. Through a tax credit worth up to $6,500 for existing homeowners in the market for a new home. 2. Through a new closing deadline of April 30, 2010- extended from Nov. 30, 2009- for the $8,000 First-Time Homebuyer Credit. Also, a special provision gives taxpayers two extra months to close if they’ve entered into a contract by April 30, 2010. 3. By increased phase-out limits that start at $125,000 for singles and $225,000 for married filing jointly- up from $75,000 and $125,000 respectively. The new limits apply to homes purchased after Nov. 6, 2009. Under the new requirements, an estimated 2 million Americans are expected to claim the tax benefit. The IRS estimates 1.4 million people have already claimed earlier versions of the First-Time Homebuyer Credit. “From seniors looking to downsize, to families wanting to move, to those shopping for their first home, this credit paves the way for more people to positively impact their taxes through the benefits of homeownership,” said Amy McAnarney, executive director of The Tax Institute at H&R Block. Existing homeowners must have owned and lived in their current home continuously for five of the last eight years to claim the credit of up to $6,500. Taxpayers must close on the replacement home between Nov. 7, 2009 and April 30, 2010. If taxpayers have entered into a contract on a home by April 30, 2010, they have until June 30, 2010 to close. “The tax credit of up to $6,500 for current homeowners could ease the sting of those wanting to move but worried they’ll take a loss in the down market,” McAnarney said. “More first-time and existing homeowners can take advantage of this valuable tax credit under the new law.” A house must be valued at less than $800,000 to be eligible for the new $6,500 or the $8,000 credit for first-time homebuyers. Taxpayers can claim the credit on their 2009 or 2010 tax returns. A completed settlement statement must be attached to the return in order to claim the credit. Owning a home can trigger many other tax benefits. Taxpayers should consult their tax professional to ensure they receive all the credits and deductions a new house affords them.

For more information, visit www.soldteam.net for questions!

Builders Call on Congress to Extend and Enhance Home Buyer Tax Credit

Rosanna Hudson (Texas Sold Team Realty, LLC) — Tue, 11 Aug 2009 12:29:30 -0700

Builders Call on Congress to Extend and Enhance Home Buyer Tax Credit

RISMEDIA, August 11, 2009-To help create jobs and set the stage for a strong recovery, the National Association of Home Builders (NAHB) yesterday called on Congress to extend and enhance the $8,000 first-time home buyer tax credit due to expire on December 1.

Specifically, NAHB is asking Congress to extend the home buyer tax credit program through November 30, 2010 and make it available to all buyers of principal residences.

"If Congress acts to extend the tax credit program, it would spur 383,000 additional home sales, including 80,000 housing starts, creating nearly 350,000 jobs over the coming year," said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. "That's good for the economy and good for America."

Although there have been some signs of economic stabilization in recent weeks, the unemployment rate is rapidly approaching double-digits. Without a concerted focus on the housing sector, which comprises more than 15 percent of the GDP, any hope for a recovery could fade.

"At best, it looks like a jobless recovery once it gets underway," said Robson. "This is why Congress needs to take bold, meaningful action now."

In addition to extending the tax credit, Robson said home builders will be meeting with their lawmakers in their home districts during the August congressional recess and urging them to:

- Correct a faulty appraisal process. The inappropriate use of distressed and foreclosed sales as comps in determining home values is hurting home values and killing home sales. The situation is so bad that a recent NAHB survey of more than 500 builders found that one out of every four new-home sales are lost because appraisals are coming in below the contract sales price. NAHB is urging Congress to work with housing and federal regulators to adopt and enforce clear, concise regulatory guidance that will allow appraisers to develop realistic valuations based on sales that are truly comparable. Lawmakers should also call on the Federal Housing Administration, the Federal Housing Finance Agency, Fannie Mae, and Freddie Mac to establish an appeals process similar to the one used by the Veterans Affairs Loan Guaranty Program. Under the VA program, the appraiser is required to seek more information when it appears the appraised value will fall short of the sales price.

- Improve housing credit conditions. Since there can be no meaningful economic recovery until the flow of credit is restored to housing, NAHB is calling on Congress to urge regulators and the banking industry to end the stranglehold on acquisition, development and construction (AD&C) loans that has emerged as a major impediment to the housing recovery. Lenders are refusing loans for viable new housing projects and cutting off funding or calling performing outstanding loans, producing unnecessary foreclosures and losses on AD&C loans. Congress needs to urge regulators to allow and encourage lenders to give leeway to residential AD&C borrowers who have loans in good standing by providing flexibility on re-appraisals, loan modifications and perhaps forbearance to give builders time to complete and sell their lots and homes.

- Co-sponsor Net Operating Loss (NOL) relief legislation in the House and Senate. NOL bills H.R. 2452 in the House and S. 823 in the Senate would prevent further layoffs in building and other industries hit hard by the recession. The legislation would help all businesses by eliminating the current $15 million cap on average annual gross receipts and allowing 2009 losses to be eligible for the expanded carryback. In addition, the bills would also help taxpayers who have been hit by the Alternative Minimum Tax to fully benefit from any NOL carryback. The bills both enjoy bipartisan support. Currently, H.R. 2452 and S. 823 have 92 and 37 co-sponsors, respectively.

Taken together, these four issues - extending the $8,000 home buyer tax credit for one year and making it eligible for all home buyers; bringing common sense to the appraisal process; urging banking regulators to ease AD&C credit; and passing the NOL carryback legislation - will not only create needed jobs for American workers quickly, but also stimulate demand for goods and services throughout Main Street America.

Tips and Tools for Real Estate Professionals

Rosanna Hudson (Texas Sold Team Realty, LLC) — Mon, 26 Jan 2009 17:20:39 -0800

Tips and Tools for Real Estate Professionals

I got this this morning in my email and it was just too good not to pass on or blog about... Thank you Jewel Harmon!

ABC's for Success

Avoid negative sources-people, places, habits
Believe in yourself
Consider things from all angles
Don't give up and don't give in
Enjoy life today, yesterday's gone and tomorrow may not come
Family & friends are hidden treasures
Give more than you planned to
Hang on to your dreams
Ignore those who try to discourage you
Just do it!
Keep on trying, no matter how hard, it will get easier
Love yourself first, and the most
Make it happen
Never lie, cheat or steal-always strike a fair deal
Open your eyes and see things for what they really are
Practice makes perfect
Quitters never win and winners never quit
Read, study and learn about everything important in your life
Stop procrastinating!
Take control of your destiny
Understand yourself in order to better understand others
Visualize it
Want it more than anything
Xcellerate your efforts
You are unique-there is only one YOU
Zero in on your target and go for it!

Dates to Remember

Rosanna Hudson (Texas Sold Team Realty, LLC) — Mon, 01 Dec 2008 08:19:48 -0800

Holiday season is in the air. Below is a list of the happenings in the area. Nothing better to get you in the "Spirit" than an good tree lighting and parade of lights. If you haven't ever seen one you really need to go just for the experience. You will walk away singing carols and ready to hit the mall to finish or start your holiday shopping!

Nov. 14 - Jan. 3 - ICE! and Lone Star Christmas (Grapevine)
Nov. 22 - Jan. 4 - The Trains at North Park (Dallas)
Nov. 28 - Jan. 4 - Holiday in the Park (Six Flags in Arlington)
Saturday, Nov. 22 - 3:00 to 9:00 pm Home For the Holidays (Southlake Town Square)
Tree lighting at 6:30 pm
Saturday, Nov. 22 - 24 - www.SouthlakeFestivalofTrees.com
Friday, Nov. 28 - FW Sundance Square
2:00 to 5:30 pm - Holiday Fun Zone
6:00 to 8:00 pm - Parade of Lights and Tree Lighting
Nov. 29 - Dec. 21 - Snowflakes, Sugarplums, and SANTA! (Fort Worth)
Saturday, Nov. 29 - 6:00 to 8:00 pm
Hurst Annual Tree Lighting Spectacular
Monday, Dec. 1 - 7:00 pm
Historic downtown Grapevine Carol of Lights
Thursday, Dec. 4 - 7:00 pm
Historic downtown Grapevine Parade of Lights
Friday, Dec. 5 - 6:00 to 9:30 pm
Holly Days at Keller Town Center
Saturday, Dec. 6 - 10:00 am
Neiman Marcus Adolphus Children's Parade Dallas
Saturday, Dec. 6 - 4:00 to 8:00 pm
NRH Night of Holiday Magic at NRH20 Family Waterpark
Saturday, Dec. 6 - dusk
Twinkle Light Parade on Grapevine Lake

Featured Real Estate Agent in Keller, Texas

Rosanna Hudson (Texas Sold Team Realty, LLC) — Sun, 30 Nov 2008 20:46:47 -0800

Southlake Real Estate

Texas Sold Team Realty, LLC, specializing in Southlake, Keller, Grapevine, Westlake and Colleyville Texas Real Estate. Cindie Stewart is one of the preferred Real Estate Agents in the Southlake Texas real estate market.