Fargo Nd Moorhead Mn (Fargo, ND) Real Estate News

Fargo ND Homes For Sale - Dave Werth - Kvamme Real Estate 218-790-7653

Dave Werth ABR GRI EREOC ESSC CRS CRW (Kvamme Real Estate)

North Fargo

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Great Floor Plan

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City: Fargo

Baths: 2

Price: $139,900

Status: Active

Bedrooms: 3

Description: Raspberry garden, fenced yard, 3 bedroom floor plan, hardwood floors under carpet. Basement partially finished. Mike Gunter/Agent More Info

Fantastic downtown loft condo!

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City: Fargo

Baths: 1

Price: $224,900

Status: Active

Bedrooms: 1

Description: This is a fantastic downtown loft condo. Exposed brick and wood floors from 1917. Concrete counter tops & ceramic backsplash. Beautiful contemporary birch woodwork/cabinets/bookshelves. Mike Gunter More Info

South Fargo

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First time homeowner credit!

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City: Fargo

Baths: 2

Price: $103,900

Status: Sold

Bedrooms: 2

Half Baths: 1

Description: Great twinhome with no shared interior wall. Fully fenced, great 3 tier wood deck and landscaping. Cathy Hahn/Agent More Info

New floor plan on this new construction home

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City: Fargo

Baths: 2

Price: $184,900

Status: Active

Bedrooms: 2

Description: New floor plan on this new construction home. Angled stairs,beautiful woodwork,trayed ceilings, master suite,lower level family room. This is a quality built home you must see! Agent Mary Kay Nelson More Info

Please use the following Real Estate Terms if you are searching for area information or please contact Dave Werth. Fargo ND Homes for Sale, Moorhead MN Homes for Sale, Moorhead Real Estate, Fargo Real Estate, Dilworth MN Homes, West Fargo ND Homes for Sale, First Time Home Buyer Fargo ND, First Time Home Buyer Moorhead MN, First Time Home Buyer Classes, Dilworth MN Homes For Sale, Glyndon MN Homes For Sale, Fargo ND Twinhomes for Sale, Fargo Condos, Moorhead Condos, Moorhead Homes, West Fargo Homes, Fargo Homes, Dilworth Homes, Glyndon Homes, Sabin Homes. If there are any terms we have missed, please contact Dave Werth @ 218-790-7653 or davew@kvammerealestate.

Dave Werth

218-790-7653 Cell

218-236-7534 Fax

davew@kvammerealestate.com

www.NewRealEstateProperty.com

Kvamme Real Estate

3401 S. 8th St.

Moorhead, MN 56560 / 218-236-6611

NewRealEstateProperty.com - Fargo ND Homes For Sale / Professionals

Dave Werth ABR GRI EREOC ESSC CRS CRW (Kvamme Real Estate)

These Fargo Moorhead area "Specialists" are a preferred group of contacts that have shown a very high qualification of professionalism & expertise in there fields of work. These Fargo Moorhead area contacts have proven they are the highest qualified individuals my clients and myself have had the opportunity of working with. Financial

Brian Johnson - Valley Mortgage (Mortgage Lender) 701-461-8452
Mike Mihulka - Choice Financial (Mortgage Lender) 701-866-5233
Tricia Jackman - Starion Financial ( Mortgage Lender) 701-793-8048
Dave Woodard - Bremer Bank (Mortgage Lender) 218-299-7605
Scott Philbrick - Executive Mortgage (Mortgage Lender) 701-239-0155
Nicole Freier - Gate City Bank (Mortgage Lender) 701-293-2457

Insurance

Mark Wagner - Wagner Insurance (Home Owners Insurance) 218-238-5696
Steve Aune - Country Insurance (Home Owners Insurance) 701-356-0505

Home Inspection

Troy Schwann - Housemasters (Home Inspector) 701-293-5891
Ron Flemming - MinnKota Home Inspections (Home Inspector) 701-277-3123
Corey Langer - Precision Home Inspections (Home Inspector) 701-367-6201
Dean Foel - Tri State Home Inspections (Home Inspector) 701-297-0254

Home Building

Jim Sullivan - Sullivan Construction (Home Builder/Developer) 1(701) 570-3580
Stan Birky - Stan Birky Construction (Home Builder) 218-329-1127

Education

Jeral Croaker - Family Life Credit Services (First Time Home Buyer Education) 701-232-4673

Home Buyer Tax Credit Changes Fargo ND Homes For Sale / Moorhead MN Homes For Sale / www.NewRealEstateProperty.com

Dave Werth ABR GRI EREOC ESSC CRS CRW (Kvamme Real Estate)

Home Buyer Tax Credit Changes - www.NewRealEstateProperty.com

Dave Werth - 218-790-7653 / davew@kvammerealestate.com

Congress has extended and expanded the homebuyer tax credit. The modifications in the column labeled "December 1 - April 30, 2010" become effective when President Obama signs the bill. All changes made to the current credit become effective on that date, as well.

FEATURE	Jan 1 - November 30, 2009 Rules as enacted February 2009	December 1 - April 30, 2010 Rules as enacted November 2009
Firsttime Buyer - Amount of Credit	$8000 ($4000 married filing separate)	$8000 ($4000 married filing separate)
Firsttime Buyer - Definition for Eligibility	May not have had an interest in a principal residence for 3 years prior to purchase	Same
Current Homeowner - Amount of Credit	No Provision	$6500 ($3250 married filing separate)
Effective Date - Current Owner	No Provision	Date of Enactment
Current Homeowner - Definition for Eligibility	No Provision	Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Termination of Credit	Purchases after November 30, 2009. (Becomes April 30, 2010 on Date of Enactment.)	Purchases after April 30, 2010
Binding Contract Rule	None	So long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Income Limits (Note: Increased income limits are effective as of date of enactment of bill)	$75,000 - single $150,000 - married Additional $20,000 phase out	$125,000 - single $225,000 - married Additional $20,000 phase out
Limitation on Cost of Purchased Home	None	$800,000 Effective Date of Enactment
Purchase by a Dependent	No Provision	Ineligible Effective Date of Enactment
Anti-fraud Rule	None	Purchaser must attach documentation of purchase to tax return

Frequently Asked Questions

Here are some of the most frequently asked questions on the changes to the Homebuyer Tax Credit

Question:	Existing homeowner credit: Must the new house cost more than the old house?
Answer:	No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit.
Question:	I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. I will go to settlement on November 20. If President Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit?
Answer:	Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement.
Question:	I am a firsttime homebuyer but was not within the prior income limits at the time I entered into my contract to purchase on October 30, 2009. I will be covered, however, by the new income limits. If the new rules have been signed into law by the time I go to settlement, will I be eligible for a credit?
Answer:	Yes. The new income limitations go into effect as soon as the President has signed the bill. The income limit and other eligibility rules will look to your status as of the date of purchase, which is the settlement date. So if the new rules have been signed when you go to settlement, you should be eligible for the credit (or a portion of the credit if you're within the phaseout range).
Question:	I am an eligible existing homeowner. I have a fair amount of equity in my home. I have found a home with a nonnegotiable price of $825,000. Will I be able to use any of the $6500 tax credit?
Answer:	No. The $800,000 cap on the cost of the purchased home is firm at $800,000. Any amount above $800,000 makes the home ineligible for any portion of the credit. The $800,000 is an absolute ceiling.
Question:	I owned my home for 10 years, but sold it two years ago year and have been renting since. If I purchase a home, will I be eligible for the $6500 tax credit if I meet all the other eligibility tests?
Answer:	Yes. Because you lived in the home for more than 5 consecutive years of the previous 8, you will qualify for the $6500 credit. For example, Say John and his wife bought a home in 2000 and lived there until 2008 when he got a divorce. Whether John has been renting or bought in the interim, he WOULD INDEED be eligible for the credit because he owned a home and occupied it as his principal residence for 5 consecutive years out of the last 8 years. The keyword here is "consecutive." As long as he lived in that house for 5 years straight what he did since 3 years doesn't impact eligibility.
Question:	I am an eligible first-time homebuyer. I entered into a contract to purchase on November 1, 2009. Do I have to go to closing before December 1? How does the extension date affect me?
Answer:	You do not have to close before December 1. Once the legislation has been signed, it will be as if the Nov 30 date had never existed. Therefore, so long as the contract settles before April 30 (or July 1, worst case), the purchaser will be eligible for the credit.

Fargo, ND Real Estate Professionals

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