Cary Park bank owned house 100K below tax value - 12/31/09 05:22 PM
Nice house in Cary Park. Bank owned in 12/2/2009. Priced at 350K around, 100K below purchase price and tax value. Good bargain. Please call for more information. 
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Frequently Asked Questions About the First-Time Home Buyer Tax Credit - 12/31/09 02:50 PM
 
From http://www.federalhousingtaxcredit.com/faq1.php Who is eligible to claim the $8,000 tax credit?First-time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and on or before April 30, 2010. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner. A limited exception exists for certain contract for deed purchases and installment sale purchases. See the IRS website for more detail.However, the law also allows home … (0 comments)

Frequently Asked Questions About the Move-Up/Repeat Home Buyer Tax Credit - 12/31/09 02:48 PM

From http://www.federalhousingtaxcredit.com/faq2.php Who is eligible to claim the $6,500 tax credit?Qualified move-up or repeat home buyers purchasing any kind of home are eligible to claim this credit. What is the definition of a move-up or repeat home buyer?The law defines a tax credit qualified move-up home buyer (“long-time resident”) as a person who has owned and resided in the same home for at least five consecutive years of the eight years prior to the purchase date. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. That is, both spouses must qualify as long-time … (0 comments)

Tax Credits key points for prospective home buyers. - 12/31/09 02:45 PM
From http://www.federalhousingtaxcredit.com/key_info.php
Following are key points that prospective home buyers should be aware of when considering a home purchase under the tax credit program. A tax credit of up to $8,000 is available for first-time home buyers purchasing on or after January 1, 2009 and on or before April 30, 2010. In cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify. A tax credit of up to $6,500 is available for repeat home buyers who have owned a home for five consecutive years out of the prior eight years. … (0 comments)

Top Ten Tax Deductions for Landlords - 12/31/09 02:32 PM

From http://www.nolo.com/legal-encyclopedia/article-29497.html Every year, millions of landlords pay more taxes on their rental income than they have to. Why? Because they fail to take advantage of all the tax deductions available for owners of rental property. Rental real estate provides more tax benefits than almost any other investment. Often, these benefits make the difference between losing money and earning a profit on a rental property. Here are the top ten tax deductions for owners of small residential rental property. 1. Interest Interest is often a landlord's single biggest deductible expense. Common examples of interest that landlords can deduct include mortgage … (0 comments)

 

Susan Fang

Cary, NC

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First Triangle Realty, Inc.

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