first time home buyer tax credit: First Time Home Buyers - The ACTUAL DOLLAR COST of Waiting to Buy
- 11/13/09 01:10 AM
I suck at math, which is why I went to law school rather than business school, a decision I still periodically regret. So I am eternally grateful to Charles Dailey for posting this link to HIS post on one of my comment pages. It QUANTIFIES the cost of waiting to purchase a $125,000-$250,000 home, assuming that the buyer (i) misses the tax credit window; and (ii) the interest rate on the mortgage increases 1/2 point, such as to 5.5% from 5.0%. Ouch. I knew it wasn't a small number, but $13,928.74 to $19,857.47 is a lot of money. Like, buying-a-car-kinda money. And this just assumes a 1/2 point … (4 comments)
first time home buyer tax credit: Windsor Court Condominiums - Great Condos in the Heart of Richmond's Historic Fan District!
- 09/14/09 02:20 AM
Well, it's that time again. Sunday morning, and I'm gearing up for the stand-by Sunday Open House. This Sunday - and every Sunday except holidays - I'm holding open the Windsor Court Condominiums, located smack-dab in the middle of the Historic Fan District. Here are some quick facts about the project: The actual address is 1608-1614 Grove Avenue, in between Vine and Lombardy. There are 24 total units located in three different buildings set back around a GORGEOUS central courtyard - two "wing" buildings, 1608 Grove and 1614 Grove, and the "main building at 1610 Grove. Each unit has a minimum of 2 … (0 comments)
first time home buyer tax credit: Blogging Hiatus - Where Does the Time Go?
- 09/14/09 02:13 AM
I really don't know what happens and how. All of a sudden, days and days, sometimes weeks, pass and I'm behind the eight ball on the blogging front. I just looked and my last post was August 26, 2009. The thing I find most frustrating is that there are typically lots of things I WANT to address and write about - either national trends, local current events, real estate tips and tricks, etc. But there aren't enough hours in the day to get it all done. Or at least there aren't enough hours in MY day. I will freely admit to … (0 comments)
first time home buyer tax credit: Buying a Home NOW - Some Validation from USA Today
- 09/14/09 02:08 AM
I feel a teensy bit validated, now that USA Today is featuring an article on the two reasons to buy a home NOW - the historically low interest rates AND the first time home buyer tax credit. Of course, this "buy a home NOW!" advice only applies to people who have stable jobs, consistent income, some money to put down, and were planning to buy a home in the foreseeable future anyway. As always, if you need an agent in Richmond, Virginia, I am happy to help with the home buying process. Otherwise, best of luck in your hunt for the perfect home! … (1 comments)
first time home buyer tax credit: First Time Buyers - Some Gentle Encouragement and Some Possible Properties
- 08/26/09 05:51 AM
Folks that follow my blog (hi Mom!) know that I have posted in the past about the first-time home buyer tax credit. The credit gives eligible individuals $8,000 in a bottom line CREDIT on your 2009 tax return. In fact, you can even amend the 2008 tax return to get that money sooner. I've continued to hit this topic ad nauseaum because many people do not seem to know that the credit expires November 30, 2009. What that means is any eligible first-time home buyer must have CLOSED on the purchase of a home by November 30, 2009 in order to receive what is basically free money from the federal … (2 comments)
first time home buyer tax credit: Back to Real Life....And a Real Schedule...And a Better Market?
- 08/14/09 03:48 AM
Man, it sure is hard coming back from vacation! I spent last week in picturesque Bath County at Nimrod Hall, one of my favorite places in the world. I was pretty much unplugged - limited phone, limited e-mail, limited computer access. I have to say, it was heaven. BUT....I have to get back to real life, and jump back into work. At least until my rich uncle gets out of the poorhouse. Or I win the $139M lottery. Or I marry an heir to some little-known European principality. Sigh. A girl can dream, right? While I was gone my business partner did … (2 comments)
first time home buyer tax credit: Tick Tock, Tick Tock...That's The Sound of the First Time Home Buyer Tax Credit Running Out....
- 07/17/09 02:01 AM
I don't think lots of buyers know that the First Time Home Buyer Tax Credit EXPIRES November 30, 2009. If your purchase isn't closed by that date, you are out of luck, do not pass go, and certainly do not collect the $8,000 tax credit the federal government is handing out to savvy first time home buyers. What does that mean? Well, let's work backwards on the time line and make a few assumptions: The offer date is NOT the critical date. The ratification date, the date the contract is accepted, is the date from which all critical next steps are … (0 comments)
first time home buyer tax credit: First Time Home Buyers - Why Are You Waiting?
- 05/18/09 03:12 PM
I am a little bit flummoxed. Right now, housing affordability is the best it's EVER been, since the National Association of Realtors has been tracking the statistics. Interest rates are at record lows, under 5% in many instances. The Federal Government is still making 3.5% down payments, under 5% interest rate financing available to buyers through its FHA program. AND there is a federal first time home buyer credit available of $8,000, which means eligible individuals or couples filing jointly will get an $8,000 credit on their 2009 tax return. That is essentially $8,000 in free money back from the government, just for doing … (7 comments)
I suck at math, which is why I went to law school rather than business school, a decision I still periodically regret. So I am eternally grateful to Charles Dailey for posting this link to HIS post on one of my comment pages. It QUANTIFIES the cost of waiting to purchase a $125,000-$250,000 home, assuming that the buyer (i) misses the tax credit window; and (ii) the interest rate on the mortgage increases 1/2 point, such as to 5.5% from 5.0%. ;)
;)
