000 tax credit: Coming Down the Final Stretch - Can You Still Get in on the Home Buyer Tax Credit? - 03/18/10 08:44 AM
Coming Down  the Final Stretch - Can you Still Get in on the Home Buyer Tax Credit? 
With just about six weeks left to get into contract on a home, time is running out on the government's program to give first-time and existing home buyers a tax credit. Everywhere you look these days you see symbolic clocks ticking and widgets with the hours dropping away, reminding home buyers that that it's time to act quickly. 
 
Is there really still time?  
In a word - yes.  If you have been looking and there are potential properties in your sight, you still … (8 comments)

000 tax credit: The New and Improved Home Buyer Tax Credit - 11/05/09 01:59 PM
The much-anticipated extension to the home buyer tax credit has finally been approved.  The Senate's vote yesterday resulted in a 98-0 win and today it was passed in the house.  The bill now moves to the President's desk for a final signature. 
First-time home buyers have been eligible for tax credits of up to $8,000 since last January as part of this year's economic stimulus package.  The newly backed program will expand the credit to include existing home owners.  
Under the revised program, those who have owned a home for at least five years will be able to apply for tax … (121 comments)

000 tax credit: Support for Extending the Home Buyer Tax Credit is Rapidly Growing - 09/18/09 06:53 AM
In something I see as an expanding snowball effect, the sentiment for extending the Home Buyer Tax Credit is growing daily.  It is beginning to feel more like fear now that if this snowball is allowed to melt, home sales will fall into a black hole.  
The IRS recently reported that over 1.4 million Americans have claimed the $8,000 first-time home buyer credit to date.  And, it is widely asserted that this program has had a huge hand in helping to stabilize the housing market this year.   
The current credit of $8,000 for first time home buyers has been in effect … (8 comments)

000 tax credit: How Long Will Mortgage Rates Stay This Low? - 09/07/09 08:55 AM
As summer winds down, some home buyers in  Massachusetts are still waiting for the perfect opportunity to pull the trigger on their home purchase.  With higher interest rates looming as a possibility, some mortgage professionals are urging fence-sitting home buyers to make their move. 
Last week, rates for 30-year home loans edged down a bit, staying close to record lows that were seen in the spring.  
According to Freddie Mac, the average 30-year fixed rate mortgage was 5.08 percent which is down from 5.14 percent a week earlier. 15-year fixed rate mortgages fell to 4.54 percent, from 4.58 percent previously. 
Bob … (9 comments)

000 tax credit: Massachusetts Offers Home Buyers $8,000 Interest-free Loans - 07/16/09 01:58 AM
Massachusetts has just joined a small but growing number of states which have developed a way for buyers to access the $8,000 Federal homebuyer tax credit at a time when it is the most useful in the home buying process.  
First-time homebuyers with loans from the state's affordable housing bank, MassHousing, are now eligible to receive an $8,000 state loan if they buy before December 1, 2009.  The loan is interest-free as long as it is repaid by June 1, 2010.  By that time, buyers will have been able to claim $8,000 federal tax credit provided for in the federal Housing … (0 comments)

000 tax credit: Using the $8,000 Tax Credit as a Down Payment on a Home in Massachusetts - 06/10/09 10:50 AM
Is it possible to use the $8,000 tax credit as a down payment when you purchase your home in  Massachusetts? 
Although this has not been the case to date the situation may soon change.
In a recent speech, Secretary of Housing and Urban Development, Shaun Donovan mentioned that the FHA is currently working on a proposal that may allow home buyers being able to use the $8,000 tax credit as a down payment.  Speaking to The National Association of Home Builders, he stated the Federal Housing Administration (FHA) will allow home buyers to apply the $8,000 first-time home buyer tax credit toward the purchase … (0 comments)

000 tax credit: Taking Advantage of the $8,000 First-Time Homebuyer Tax Credit in Massachusetts - 03/04/09 10:24 AM
While some home buyers have been spurred on by current prices in Massachusetts, low interest rates and a huge inventory, there is now another reason to pull the trigger on a home purchase this year. 
As of March 26, 2009 there is a new economic stimulus tax credit that is providing a great opportunity for first-time home buyers. 
A first-time homebuyer is defined as anyone or their spouse who has either never owned a home or has not owned a home for at the past three years.  
Although there is much debate about whether or not the 2009 American Recovery and Reinvestment … (5 comments)

000 tax credit: Update - $15,000 Home Buyer Tax Credit Cut from Stimulus Bill - 02/13/09 10:44 AM
The much-anticipated $15,000 tax credit for homebuyers has been scaled back to an $8,000 tax credit for first time home buyers only.   
A few days ago, following extensive lobbying in Washington, home builders and realtors had hailed the proposed $15,000 tax credit.  Charles McMillan, President of the National Association of Realtors, had indicated that the credit might lead to 1 million additional home purchases.  Toll Brothers' CEO, Robert Toll had said, "The $15,000, I have no doubt, will make the greatest difference."  Pulte Home Builders' CEO, Richard Dugas was urging Congress to push the credit up to $20,000 or more and … (2 comments)

000 tax credit: A $15,000 Tax Credit for Home Buyers - Massachusetts Blog - 02/09/09 09:58 AM
The federal government is working on a plan to stimulate the currently sagging housing market.  In the Senate, a "voice vote" has been made to propose a $15,000 tax break for homebuyers.  
More details are emerging about the amendment to the pending economic stimulus bill, which is the brainchild of Georgia Senator Johnny Isakson, a former real estate broker.    
Unlike the current $7,500 housing tax credit, the new credit would be available to all home buyers and would not have to be paid back.  The $7,500 plan that is now in place is offered only to first-time home buyers and requires … (1 comments)

 
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Claudette Millette

Buyer, Broker - Metrowest Mass

Ashland, MA

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