$180,900 - 4 Bed, 2 Bath, 1,841 sq. ft., Built in 2004
The open floorplan of this charming home makes it feel truly warm and inviting. The kitchen has a walk-in pantry, tile counters, and a large island with built-in sink that faces the living room...perfect for hors d'oeuvres and entertaining. The master bath features separate soaking tub and shower. Click here to email the Dream Team and request more information about 1416 Edwards Court.
Considering buying a home? Think it's too late to get the $8,000 first-time homebuyer tax credit? Think again! In early November, Congress passed the Worker, Homeowner, and Business Assistance Act, which, among other things, extended the deadline to make a qualifying home purchase from November 30, 2009 to April 30, 2010. For eligibility requirements and more information on this important tax credit that can actually put cash in your pocket, visit the first-time homebuyer tax credit information page, courtesy of the RE/MAX Gold Dream Team.
Owned a home before? You may still be eligible to claim the credit. Recent federal tax law changes expanded eligibility to include past homeowners who have not owned their principal residence for at least three years. Late-breaking changes also allow "move-up" buyers (those selling their current residence and buying a replacement home) to claim a credit of up to $6,500. Click here for details.
$197,500 - 4 Bed, 2 Bath, 1,930 sq. ft., Built in 2005
If it's space you're looking for, look no further. This lovely home features a split-ranch layout with the privacy-enhanced master on the opposite side of the home from the three additional bedrooms. You won't want to miss the open style of the all-tile kitchen or the coziness of the fireplace-heated family room. Lots of windows provide ample natural light. Contact Tiffany at (530) 933-2933 to arrange your private showing. Click here to email the Dream Team and request more information about 1779 Powder Way.
$366,300 - 3 Bed, 2.5 Bath, 1,890 sq. ft., Built in 1988
This once gorgeous home needs some TLC, but could be amazing again with some work. Third floor looks to be a converted attic and is likely not included in square footage. Gorgeous wood floors throughout the bottom floor. Many, many features that really should be seen. Contact Tiffany at (530) 933-2933 or Melissa at (530) 300-1190 today to schedule a private showing. Click here to email the Dream Team and request more information about 177 California Avenue.
$133,900 - 3 Bed, 2 Bath, 1,392 sq. ft., Built in 1955
Large lot, cozy home! This lovely home features hardwood floors, natural wood cabinetry in the kitchen, and a wood-burning fireplace for a warm, cozy appeal. The kitchen has nice tile counters and opens to an adjacent dining area. Crown moulding in the living and dining rooms add to the charm. Contact Tiffany at (530) 933-2933 or Melissa at (530) 300-1190 today to schedule a private showing. Click here to email the Dream Team and request more information about 1648 Upland Drive.
For those who have been chomping at the bit to declare the outcome of the recent U.S. Senate agreement to extend the deadline for the first-time homebuyer tax credit...keep chomping, but not for long.
At 5:00 p.m. Eastern yesterday, by a vote of 85-2, the Senate successfully invoked cloture on Amendment 2712 (the Baucus Amendment) to the Unemployment Compensation Extension Act (H.R. 3548). H.R. 3548, passed by the House of Representatives, would extend federal emergency unemployment benefits for another 14-20 weeks. The Baucus Amendment would, among other things, add measures to H.R. 3548 to extend the deadline for the first-time homebuyer tax credit through April 30, 2010, giving qualified buyers who intend to claim the credit until that date to enter into a purchase contract and through the end of June to close escrow. Procedurally, now that cloture has been invoked, a maximum of 30 hours of debate may take place before the Senate must vote on Amendment 2712. It has now been just over 24 hours, so a vote tomorrow is virtually certain. Assuming the Senate adopts the amendments, the House would still have to concur and the President would still have to sign the bill before it could take effect, both of which appear likely, but which still take time.
The day erupted with excitement surrounding the latest developments on the federal first-time homebuyer tax credit, which provides up to $8,000 in tax relief to eligible buyers. This morning, the U.S. Senate apparently came to an agreement to extend the deadline for the credit that was initially enacted to stimulate home sales and slow the pace of decline in the housing sector. Minutes after the agreement was initially announced, headlines began surfacing in all sorts of media outlets, from major news sources like the Los Angeles Times to real estate blogs throughout the blogosphere. While it is undeniable that something happened this morning, what is less clear in stumbling and sifting through all the pronouncements is exactly what that something is.
To listen to many of the pundits and pontificators, including many well-intentioned agents who haven't thoroughly checked their facts, one might easily come to the incorrect conclusion that the extension is now the law of the land. Not so! Those who believe the extension is already in place need to brush up on their knowledge of the federal legislative process. In order for a bill to become federal law, it must pass both Houses of Congress and be signed by the President. This particular bill...is not yet a bill at all!!! What has been discussed and tentatively agreed upon is a concept - an outline at best. In order for that agreement to become law, it will have to be drafted in bill format (or added to an existing bill), debated and passed by the originating house (in this case, the Senate), debated and passed by the receiving house (the House of Representitives in our hypothetical scenario), returned to the originating house for concurrence in any amendments that might be made by the second house, and sent to the President for his signature. Assuming the President does not veto the bill in whatever form it ultimately assumes when it reaches his desk, it would then become law, subject to any effective date(s) specified in the bill.
For details on what actually transpired in terms of an agreement, read today's L.A. Times article. In short, as of the writing of this post, there is an agreement in concept among Senate leadership with the thought to add the measure to a bill already in the legislative pipeline - possibly the same bill that would extend unemployment benefit eligibility for an additional 20 weeks. The proposal would extend the tax credit deadline until April 30, 2010...sort of. Under current law, the purchase transaction would have to close by November 30, 2009 for the buyer to claim the tax credit. Under the agreement announced this morning, the buyer would have until April 30, 2010 to enter into contract and would be eligible to claim the credit as long as the transaction closes by June 30, 2010. The proposal would also extend a partial credit (up to $6,500) to existing homeowners who have owned their homes for the past five years and who are looking to buy again (i.e., 'move-up' buyers). For additional details on the proposed changes, read Luke Mullins' U.S. News and World Reports blog. To stay up-to-date on the most recent developments, feel free to visit the federal tax credit page on my website. Don't forget to bookmark it and share it with your friends and neighbors!
While it appears likely that the deadline will ultimately be extended, buyers and agents alike should proceed with extreme caution. Buyers, if you need the credit to afford your home, do not assume that you will have additional time to close the transaction. Current law makes the tax credit available through November 30, 2009. In order to claim the credit, you must either be a first-time buyer or must not have owned a home in the past three years. You must also meet income eligibility requirements and the transaction must be completed (escrow must close) by the November 30 deadline. Agents, do not succumb to the temptation to promise your buyers more time. Make sure you do not promise that which you cannot deliver. Feel free to visit my website for information on the tax credit as it currently stands. Alternatively, you can bookmark this blog post, which will be updated as new information emerges.
Ruth, a lender from Colorado, has provided a follow-up with additional information from the National Association of REALTORS® in her post entitled The Realtor that Cried Wolf, Wolf??.
11/3/09 UPDATE: On Nov. 2, the Senate took one more step toward enacting the deadline extension. By voting to invoke cloture on the amendment that contains the extension, further debate on the proposal was limited to a maximum of 30 hours, meaning that the Senate vote on extending the credit should take place no later than Wednesday, Nov. 4. For additional details on the path to finalization of the tax credit extension, see "First-Time Homebuyer Tax Credit - An Update."
until the $8,000 first-time homebuyer tax credit expires. Click on the countdown clock to visit Tiffany's website for details.
Are you a social networking fanatic? Or perhaps you are just an occasional user of a particular network. You can visit me on the networks below by clicking the icon next to your favorite site!
Sites:
AOL IM backflip bebo BiggerPockets Blogger brightkite Chico Grapevine delicious Digg diigo Dream Team facebook facebook pages faves flickr FriendFeed friendster HelloTxt hi5 identi.ca imeem Inman News jaiku LinkedIn LiveJournal Localism meemi meme from Yahoo! MerchantCircle Mister Wong Multiply MySpace Netvibes Ning orkut plaxo Plurk Posterous retaggr Sacramento Grapevine San Francisco Grapevine SPN Babble StumbleUpon Tagged tumblr twitter Vox WordPress xanga Yahoo! Profiles YouAre Zannel
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.
.jpg "Click Image to view Tiffany Pivoda's professional REALTOR(R) profile."){kind=small}
For those who have been chomping at the bit to declare the outcome of the recent U.S. Senate agreement to extend the deadline for the first-time homebuyer tax credit...keep chomping, but not for long.
.JPG)
;)
;)
