November 2009 
There are 3 blog entries for November 2009.
Black Friday Weekend was defined by Bargain Hunters
Monday, November 30th, 2009 at 1:39pm. 141 Views, 0 Comments.
I wasn't surprised at all at the news reports that shopping over the weekend was defined by bargain hunters. The report said that more people were shopping, but that sales were fairly flat. The real estate market is showing similar signs. There are more people out shopping for homes than there were just six months ago. But they are all looking for bargains.
The lower end properties are being snapped up fairly quickly - especially bank owned properties. But even in the higher priced segments, buyers want bargains. Sometimes short sales are perceived as bargains, but not always. Bank owned, or foreclosed properties, are almost always viewed as bargains. But most of these properties need quite a bit of work to bring them back to move-in…
New Tax Credit for Longtime Homeowners
Sunday, November 29th, 2009 at 10:22am. 140 Views, 0 Comments.
Congress has extended the tax credit for home buyers to current homeowners who have owned and lived in their residences for at least 5 years. This credit is for $6,500 rather than the $8,000 that first time home buyers qualify for. All the other provisions of the first time homebuyer tax credit apply.
Tax Credit for First Time Homebuyers Extended
Sunday, November 29th, 2009 at 10:17am. 162 Views, 0 Comments.
Congress has extended the tax credit for first time homebuyers.
How much is the credit?
This credit is for the higher of $8,000 or 10% of the purchase price of the home. So if you purchase a home for, say, $70,000, then your credit will be for only $7,000. And remember that a tax credit is a return of the whole amount. It's not like a deduction, where it benefits you by only 15% or so. Also, you may file an amended tax return and get your refund immediately - no need to wait until the following year when you submit your regular tax return.
Who qualifies for this tax credit?
1) A first time homebuyer is defined as someone who has not owned a home within the last 3 years. So even if you owned a home back in 2006 or earlier, you qualify for…