You hear all about the great deals people are getting on foreclosed homes lately. There are several on the market. The home on the left is for sale in Pelham, Alabama. THIS ONE is a Great Buy at $299,900. Some are good deals and others are a nightmare. Remember, foreclosed homes - which are homes that have been taken away from people who bought them and then didn't pay for them are sold AS IS. Most are sold by banks and they just won't do repairs - that is … (2 comments)
I was talking to a client the other day. She lives in what we in Hoover, Alabama would call an "upper bracket" neighborhood. Now I realize what is considered Upper Bracket in California or NYC or Washington D.C., pricewise is not the same as the greater Birmingham, Alabama area, but this neighborhood and her house are VERY NICE. She's been thinking about downsizing, part because she doesn't need quite so much space and part because she wants to reduce her monthly payments. We were discussing if this would be a good time to … (1 comments)
I've spoken to several people lately about the Home Buyer Tax Credit. Most people think it is ONLY for first time home buyers, and that WAS the case up until 11/6/2009 when they expanded it to include people who currently own a house and want a new one. A Tax Credit of up to $6500 is available for homeowners who have owned and resided in a home for 5 consecutive years out of the last eight. This repeat buyer Tax Credit is good if you buy a new house by 4/30/2010 (if … (2 comments)
In the last year I have run into several parents who want to see their grown children, especially those just getting out of college, take advantage of the tax credit. I have helped several clients buy their first new house. It has been an exciting time and I have really enjoyed that. Sometimes parents want to get "creative" so to speak and many times I have deferred to the advice of my client's accountant or financial planner. If you have complex family financial issues, please talk it over … (0 comments)
Can You Buy A Foreclosure AND Use the Homebuyer Tax Credit?
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