It is official... the Tax credit was extended... Below is a chart to explain the deadlines and requirements.. Hope you find it helpfull!!
Feature
Original Program
Extension
Deadline
Must fund by Nov. 30, 2009 (WFHM deadline was Oct. 30)
The measure is written differently so that a sales contract must be in place by April 30, 2010 - but homeowners have an additional 60 days to close.
Dollar Amount and Eligibility
Up to $8,000 for first-time home buyers (or 10 percent of the purchase price of the residence) if purchased Jan. 1 - Dec. 1, 2009 A FTHB was defined as someone who had not owned a home during the previous three years
Up to $8,000for first-time home buyers
- OR -$6,500for current homeownerswho have lived in their current residence for 5 consecutive years and are purchasing their next property
Income Cap
$75,000 (individual) $150,000 (married couples)
$125,000 (individual) $225,000 (married couples) Increases in the cap make the measure available to a broader group of customers.
Purchase Price
N/A
$800,000 or less
Repayment requirement
Must live in home for 3 years or be required to repay the credit
It is official... the Tax credit was extended... Below is a chart to explain the deadlines and requirements.. Hope you find it helpfull!!
Feature
Original Program
Extension
Deadline
Must fund by Nov. 30, 2009 (WFHM deadline was Oct. 30)
The measure is written differently so that a sales contract must be in place by April 30, 2010 - but homeowners have an additional 60 days to close.
Dollar Amount and Eligibility
Up to $8,000 for first-time home buyers (or 10 percent of the purchase price of the residence) if purchased Jan. 1 - Dec. 1, 2009 A FTHB was defined as someone who had not owned a home during the previous three years
Up to $8,000for first-time home buyers
- OR -$6,500for current homeownerswho have lived in their current residence for 5 consecutive years and are purchasing their next property
Income Cap
$75,000 (individual) $150,000 (married couples)
$125,000 (individual) $225,000 (married couples) Increases in the cap make the measure available to a broader group of customers.
Purchase Price
N/A
$800,000 or less
Repayment requirement
Must live in home for 3 years or be required to repay the credit
News from the Senate...last week a bi-partisan plan found its way to the light of day that could spell good news for both buyers and sellers in the housing market.
Among the most enticing items is the proposal to stay with the current credit of $8000 for first time buyers; this credit is currently slated to expire at the end of this month-November 30. BUT...the new proposal doesn't stop there. It also calls for a NEW credit of $6500 for homeowners who want to now buy another house to use as their principal residence. To qualify, the homeowner(s) will have to have owned and lived in their current home for five consecutive years.
Currently, the household maximums for the credit are $75,000 for single buyers and $150,000 for married couples. The new plan proposes that the household income limits for the credit be raised to $125,000 for single buyers, and $250,000 for married couples, quite a leap
At the moment, there is strong bi-partisan support in the House as well, for extending the $8000 credit, but there are being some concerns voiced concerning the cost of the credit.
Currently, according to Congressional budget figures/estimates the credit is costing the Treasury some one billion dollars per month. And adding to that concern is the proposal of inviting in even more debt of a drain in the form of existing home owners (as described above).
So, it's wait and see at this point. Here's hoping that whatever comes down the pike will offer some much needed relief to sellers and buyers alike. Keep that chin up!
Sheila Newton Sheila Newton Team, Inc. RE/MAX Foothills Realty Office: 864-225-1205 Cell: 864-940-6377 Fax: 864-225-2424 www.SheilaNewtonTeam.com
Private lot with over 5 acres. Home features an ingound pool with large pool house with it's own bathroom, attached 2 car garage and 1 car detached garage with storage space. Home also features a large sunroom, patio, and formals. This is a must see. This home is approved for HomePath Renovation Financing, purchase for as little as 3% down. Please contact listing agent for more details. Or visit www.Homepath.com
Hope Everyone has a happy and safe Halloween..WHat are your plans? Anyone that dresses up, please post a photo of yourself or where you were... i love to see Halloween costumes!! I miss the days when my kids were home and we dressed up!...
Sheila Newton Sheila Newton Team, Inc. RE/MAX Foothills Realty Office: 864-225-1205 Cell: 864-940-6377 Fax: 864-225-2424 www.SheilaNewtonTeam.com
South Carolina Bank Foreclosures and Distress Sales
Bank Foreclosures and Distress Sales often represent a great way to get a fantastic deal on a home. It's not easy for the average homeowner to find these deals, because you have to keep scouring the paper to see when one comes up. If you're the type of person who recognizes what a great deal some of these properties could represent, you will be interested to know about our service! When you receive this free, no obligation service, you're automatically plugged in to the most current list of Foreclosure Properties on the market in the price range and area that interests you. This FREE service will save you a lot of research and running around.
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The fact is, there isn't much more to the average agent than the agent themselves. Most agents operate a one-person show - and they're probably breaking their backs trying to do a good job for their clients. Most agents couldn't really work any harder than they're already working.
We know, because we used to do it this way.
But we don't anymore because we found that our clients suffered from our good intentions. The fact is, you may be sympathetic to the fact that your agent is working as hard as humanly possible, but if the quality and profitability of your home sale suffers as a result of them trying to do everything themselves . . . well,
. . .you have a right to feel cheated
The simple explanation is that we built a team of professionals to help us be in 10 places at once, and therefore greatly enhance the quality of service we can deliver to our clients. This is basically how other professionals like your banker or lawyer operate. And on top of this, we've used cutting edge technology to dramatically improve the speed, efficiency and innovative capabilities of every part of the service we deliver.
We don't expect you to care about the fine-details of the inner-workings of our office. What you should care about is simply this: because of the highly unique way we've structured our real estate office ....... Our client's homes sell for more money in less time!
We appreciate the opportunity to serve you and have designed our site to provide you valuable resources that can assist you in your goals, hobbies, and living.
Please feel free to bookmark our site to take advantage of the latest market news, community information, school profiles and more. Feel free to contact us with any questions you may have about real estate or the community. And if you know of someone that may be interested in making the exciting decision to buy or sell a home, we would be honored to provide the same level of superior service to them. For more info, visit www.SheilaNewtonTeam.com today!
Sheila Newton Sheila Newton Team, Inc. RE/MAX Foothills Realty Office: 864-225-1205 Cell: 864-940-6377 Fax: 864-225-2424 www.SheilaNewtonTeam.com
Selling your home shouldn't be a stressful ordeal. Making the smart move of choosing a REALTOR® is your first step to ensuring that your investment in your home pays off. Our services and experience allow you to focus on your move while We manage your home sale from our initial consultation to the closing deal, and beyond. We pride ourselves on repeat business and hope you'll come to understand why.
Complete a comparative market analysis that will compare your home's value to that of your neighbors.
Compile a comprehensive plan detailing all the efforts we will employ to sell your home, including Internet and local media.
Present your home to as many qualified buyers as possible getting your home maximum exposure.
Help you stage your home and generate curb appeal to ensure you get the highest price.
Assist with obtaining offers and help you in negotiating the best deal as smoothly as possible.
Help you find your next home and answer all of your questions about the local market area, including schools, neighborhoods, the local economy, and more.
Recent Home Sales
What are homes selling for on your street? Use HomeRadar.com to find out what neighborhood homes are selling for, free of charge, or choose a more detailed analysis of the value of your home.
Title insurance fees depend on the sales price of the home.
Broker's commission is a full-service fee and will cost anywhere between 5% to 7%.
Local property transfer tax, country transfer tax, state transfer tax, and state capital gains tax are the charges that you'll pay for the privilege of selling your home. Credit to the buyer of unpaid real estate taxes for the prior or current year are variable and depend on when you close and when your taxes are due.
FHA fees and costs are all fees are now negotiable between an FHA buyer and seller.
Home inspections fees are in some circumstances paid for by the seller and include pest, radon and other inspections.
Miscellaneous fees can accrue from correcting problems noticed during the home inspection.
Buying a home is an exciting time in one's life. Making the smart move of choosing a REALTOR® is your first step to ensuring that your new home and community meets your needs. Our services and experience range from financial aid to helping you find the home that best suits you and your family. For your convenience, we also provide listings by email. We pride ourselves on repeat business and hope you'll come to understand why.
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.
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