As part of the American Recovery & Reinvestment Act we have had a tax incentive for first-time homebuyers in place since April 8 2008. These are some of the modifications that have taken place:
In 2008, Congress created a $7,500 First-Time Homebuyer Income Tax Credit. It went into effect April 8, 2008 and was set to expire July 1, 2009.
One of the criticisms of the credit was that a homebuyer who received the tax credit had to repay it over 15 years
It has been modified and has new rules effective for homes purchased on or after January 1, 2009 and before December 1, 2009.
One of the key modifications is that in most circumstances the homebuyer does not have to repay the tax credit.
Extended the time period for home purchases out to December 1, 2009.
Credit maximum was increased from $7,500 to $8,000. The credit is calculated as 10% of the purchase price.
It is still only for first-time homebuyers, and only for properties that are the buyer’s primary residence.
Three Questions I have:
Have any of your buyers used this to assist in their purchase?
Are you using this to promote sales to first-time homebuyers?
Here is a great affordable home in Pensacola for only 79,900 - Wow! Nice.
MLS# 354348 Price: $79,900 Bedrooms: 3 Baths (Full): 2 Baths (Half): 0 Property Type: RD Description: Attention Investors! IMMEDIATE CASH FLOW! Great rental potential for this 3 bedroom 2 bath centrally located home. The updating has already been done for you, including new central heat & air, paint, flooring, light fixtures, septic system, and electrical upgrades! Already rented on HUD for $650 but could easily get more when renewal time comes around. Address: 701 Z ST City: PENSACOLA Year Built: 1946
Neighborhood: NONE Elementary School: YNIESTRA Jr. High School: WARRINGTON High School: PENSACOLA
MLS# 350435 Price: $215,000 Bedrooms: 2 Baths (Full): 2 Baths (Half): 0 Property Type: CD Description: This 2 bedroom, 2 bath, bay front condo in Bayshore is priced to sell. If you are looking for a waterfront condo with a beautiful view then this is the place for you. Amenities at Bayshore Include: 24hr doorman, onsite manager, exercise room, community rooms, community kitchen, beautiful outdoor swimming pool, fishing pier and sandy beach. Centrally located, it is just a short distance to both Downtown Pensacola and the Pensacola Naval Air Station. The Bayshore is one of Pensacola's best kept secrets! Address: 825 BAYSHORE DR City: PENSACOLA Year Built: 1964 Virtual Tour: virtual tour
I was reading today tha new home sales jumped 4.7 percent from January to February, to a seasonally adjusted annual rate of 337,000, the Commerce Department reported today.
This increase was welcomed by financial markets but is likely a seasonal effect since sales of new homes were down 41 percent from a year ago. February's numbers were the second worst on record, surpassed only by January's annual sales rate of 322,000 homes.
Given the current sales rate, the supply of new homes would take 12.2 months to clear, compared with 12.9 months in January and 9.7 months a year ago. A six-month supply of homes is considered a more normal balance between supply and demand.
Sales of exiting homes rose 5.1 percent from January to February, to a seasonally adjusted annual rate of 4.72 million units, the National Association of Realtors reported Monday.
The inventory of existing January homes for sale grew by 5.2 percent, to 3.8 million, leaving the supply of homes unchanged from January at 9.7 months but down from a peak of 11.2 months in July.
MLS# 335458 Price: $900,000 Bedrooms: 3 Baths (Full): 3 Baths (Half): 1 Property Type: CD Description: You have to see it to believe it. The view is absolutely breathtaking. This is a Sky House so it has a view of the Gulf of Mexico & Little Sabine Bay on one side with the Gulf of Mexico & The Intra Costal Waterway on the other. If you are standing or just walking around you can see it all. At night you have a fantastic light show from every room. This is a great place for entertaining or just relaxing at home to watch the sun set. Verandas is the Ultimate lifestyle with security, privacy, & no vacation rentals. Located in the core area which is close to everything for the best in beach living. Owner would consider selling furnished. This unit is agent owner occupied. Address: 721 PENSACOLA BEACH BLVD City: PENSACOLA BEACH Year Built: 2004
Neighborhood: VERANDAS Elementary School: PENSACOLA BCH Jr. High School: GULF BREEZE High School: GULF BREEZE
MLS# 364516 Price: $1,200,000 Bedrooms: 4 Baths (Full): 2 Baths (Half): 1 Property Type: RD Description: A magnificent custom built waterfront estate for the discriminating buyer with southerly views of Santa Rosa Island and immediate access to the sound. Experience the pleasures of sound front living by enjoying tropical breezes on the covered patio overlooking the pool and spa. This spacious home offers water views from virtually every room and is the perfect opportunity for both intimate waterfront dinning and large gatherings. The open floor plan features oversized bedroom bath suites, custom cabinets, corian countertops and travertine tile; all redone in 2005. It is a great place to relax after a hard day at work, or you can drive your golf cart to Tiger Point country club. Do not miss this opportunity for waterfront living at its best. Come view your dream home today!
ddress: 1091 PARK LN City: GULF BREEZE Year Built: 1992 Virtual Tour: virtual tour
Neighborhood: SANTA ROSA SHORES Jr. High School: GULF BREEZE High School: GULF BREEZE
MLS# 363522 Price: $1,200,000 Bedrooms: 0 Baths (Full): 0 Baths (Half): 0 Property Type: LA Description: Large waterfront lot located directly on the Intercoastal Waterway on Perdido Key. Beautiful view of Innerarity Point and Perdido Key. Excellent location for medium density development. Lot size is approximate. Address: 14314 RIVER RD City: PERDIDO KEY Year Built: 0
Neighborhood: GULF BEACH Elementary School: HELLEN CARO Jr. High School: BAILEY High School: ESCAMBIA
Please welcome Laura Muzughi to ERA Beach Ball Realty. Laura is a very knowledgeable and successful Realtor here in the Pensacola area. Although she helps buyers throughout Pensacola she has an emphasis in Pace and Milton, Florida.
Laura was previously with Exit N.F.I. a company of similar size and focus as ERA Beach Ball Realty here in Pensacola.
If you're putting your home on the market, better be sure you're ready to tell all -- good and bad. "The majority of lawsuits or claims that occur are as a result of buyers finding out about something that is wrong with their property after the close of escrow and coming to the belief that the seller knew but didn't tell them," says real estate attorney, Peter Solecki of Winton & Larson, LLP. Disclosure is vital. In one extreme case, it may have spared a seller from going to jail and even ...
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As part of the American Recovery & Reinvestment Act we have had a tax incentive for first-time homebuyers in place since April 8 2008.
Please welcome Laura Muzughi to ERA Beach Ball Realty. Laura is a very knowledgeable and successful Realtor here in the Pensacola area. Although she helps buyers throughout Pensacola she has an emphasis in Pace and Milton, Florida.
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