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Homebuyers tax credit extended and expanded!
November 10th, 2009 11:24 AM
Michael Whitehead, Loan Officer with HomeBanc shared the following with us:

The vote was 98 to 0.

The legislation will extend the $8,000 homebuyer tax credit to contracts signed by April 30 and closed by June 30. The controversial credit, which many say has boosted home sales in recent months, was set to expire after Nov. 30.

The Senate's bill also created a $6,500 credit for those who buy a home after owning one for the last five years. That measure would apply to contracts signed by April 30 and closed by June 30. The current credit defines a first-time homebuyer as someone who has not owned a residence within the past three years.

The Senate bill would raise the adjusted gross income cap to $125,000 for single filers and $225,000 for joint filers. The amount of the credit currently begins to phase out for taxpayers whose adjusted gross income is more than $75,000 or $150,000 for joint filers.

Through mid-September, 1.4 million tax returns had qualified for the credit, according to the IRS. Some portion of those returns, which the IRS couldn't specify, represents buyers who took advantage of an earlier version of the tax credit, which was only worth $7,500 and has to be repaid over time.

By the end of November, the credit will have been used by 1.8 million homebuyers, at least 355,000 of whom would not have bought a house without the tax break, according to estimates by the National Association of Realtors.

"The data on the present home buyer tax credit show that the credit has had its intended impact -- sales have jumped in recent months to a projected 5.1 million for the year and housing inventory has been trimmed, thus stabilizing home prices noticeably," said Ron Phipps, the association's first vice president, in Senate testimony last month.


Posted by Manuela Baginski on November 10th, 2009 11:24 AMPost a Comment (0)

Just Listed! 1201 Boca Ciega Isle Dr Saint Pete Beach, FL 33706
November 10th, 2009 2:35 PM
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$1,195,000.00
1201 Boca Ciega Isle Dr

Saint Pete Beach, FL 33706



Beds: 4.0 Rooms: 6
Baths: 3.00 Sq. Ft.: 3672.00
Garage: 3.0 Built: 2007
 

New Construction! Wide open water views!
This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.
 

If you have any questions
about this property or
require more information,
please feel free to call.

Manuela Baginski
South Beaches Real Estate Professionals
7274874135
www.housesnlots.com



 
  Visit this listing at Here

Posted by Manuela Baginski on November 10th, 2009 2:35 PMPost a Comment (0)

Just Listed! 4632 35 Ave N Saint Petersburg, FL 33714
November 10th, 2009 12:06 PM
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Listings Photo
$145,000.00
4632 35 Ave N

Saint Petersburg, FL 33714



Beds: 2.0 Rooms: 5
Baths: 2.00 Sq. Ft.: 1104.00
Garage: 0 Built: 1962
 

Great starter home. Nice size lot - enough room for a pool.
This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.
 

If you have any questions
about this property or
require more information,
please feel free to call.

Manuela Baginski
South Beaches Real Estate Professionals
7274874135
www.housesnlots.com



 
  Visit this listing at Here

Posted by Manuela Baginski on November 10th, 2009 12:06 PMPost a Comment (0)

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