8000 tax credit: Tax Credit Deadline Makes Early Due Diligence Crucial
- 04/15/10 04:26 PM
One of the things we all dread in a transaction is an 11th-hour problem that delays or cancels a closing until it is solved. It could be a certificate of occupancy for a deck or addition, an open permit, or an unknown lien. When these things are discovered, it causes mad scrambles to get the code inspector out to sign off, an expensive rate lock extension, or dicey living arrangements for people who have given notice to a landlord, just to name a few problems. However, the stakes are now even higher: it could cost the buyer their $8,000 tax credit. … (4 comments)
8000 tax credit: Is There an Advantage to Buying After the April 30 Deadline?
- 04/03/10 10:42 PM
I have blogged before that the stimulus package, set to expire April 30, has fulfilled it's purpose. Sales in Westchester for the first quarter of 2010 have dwarfed those of the 2009 first quarter. This may seem hard to believe, but that $8000 tax credit is now over a year old. The Westchester County housing market, good or bad, has been reflective of this law for quite a while. With no substantive efforts I know of to extend the credit, after May 1 Westchester will have a more organic market with which to either put up or shut up. So what … (6 comments)
8000 tax credit: Hundreds of Westchester Homes Priced Under $400,000
- 02/10/10 10:33 PM
When I first started my company in 2005, there were almost no single family homes in Westchester County priced below $500,000. Often, they'd be undesirable little shacks with 2 bedrooms and no yard. Not so today. As I type this, there are 319 single family homes actively for sale in Westchester County under $400,000 with 3 or more bedrooms. They are all over the place too; north, south and central parts of the county all have inventory. I did a perfunctory search on the MLS ( Westchester Putnam Multiple Listing Service) this morning, and I saw 3 bedroom Westchester homes (not condos or co ops, … (3 comments)
Phil Faranda is broker and owner of J. Philip Real Estate LLC in Briarcliff Manor, NY. Since founding the firm as a sole practitioner in late 2005, the team has grown to over 80 agents & closed 1000+ transactions valued at over $1 billion. He was 2014 President of the HGMLS and a 2017 Inman Influencer. This blog commentary is geared toward consumers and industry colleagues alike. You can reach him at (914) 723-8900. Warning: *Sarcasm and irony advisory at all times.*
Testimonials
113201
There is no doubt in my mind that the house would still be on the market if it wasn't for Phil's proactive efforts.
5.0/5.0
by drmoi
109285
Phil was very responsive to our requests; he was very professional and respectful; he always gave us his honest opinion on the questions we asked. ... more
5.0/5.0
by junglegirlnyc
106920
Phil is a very honorable and respectful realtor. He has gone way above and beyond the call of duty for me not only once, but twice. He helped sell ... more
One of the things we all dread in a transaction is an 11th-hour problem that delays or cancels a closing until it is solved. It could be a certificate of occupancy for a deck or addition, an open permit, or an unknown lien. When these things are discovered, it causes mad scrambles to get the code inspector out to sign off, an expensive rate lock extension, or dicey living arrangements for people who have given notice to a landlord, just to name a few problems. However, the stakes are now even higher: it could cost the buyer their $8,000 tax credit.
;)
;)
;)
