Now is the perfect time to find your new home. We have close to 300 homes open this weekend!
To help you narrow down the homes you’d like to visit we have a Printable Open House list available on our website where you can view open houses in a specific area of town. You can also do an Open House Searchand easily find what you are looking for!
As a reminder, the Tax Credits are expiring on April 30th! If you are looking to take advantage of this credit you must act soon! For more information about the tax credits you can visit or special Tax Credit page.
Now would be a fantastic time to take full advantage of shopping for your first home. The Goverment deadline for qualifying for your Federal Housing Tax Credit requires you to be under an accepted purchase agreement by April 30, 2010 and closed by June 30, 2010. FIRST TIME HOME BUYERS receive up to $8,000 in tax credit. These funds can be used for home inmprovements, repairs, paying off credit card debt, or just to save for an emergency cushion. Some stipulations apply, so please feel free to call me, Georgie Vint, and we can discuss the credit.
The Federal Housing Tax Credit has also been extended into a credit for EXISTING HOME OWNERS as well. If you have owned a home for 5 years and are ready to move into a larger home, or even downsize into a smaller one. This new $6,500 credit applies to you! Please call me, Georgie Vint, for details. This is an outstanding opportunity. But you need to act fast, time is running out on this Federally funded credit offer!
NOW IS THE TIME TO BUY A HOME! With the tax credits in place, home prices are outstanding and interest rates are still at an all time low! With these kind of incentives, your buying power is drastically increased! You won’t want to miss this opportunity to buy a home, at a great price, for a great interest rate and receive government money back! CALL GEORGIE VINT TODAY TO MAKE SURE YOU MAKE THE MOST OF YOUR MONEY, THE TIMING AND THE GOVERNMENT CREDITS! We are here to help you make smart choices and happy home purchases. It’s our business to help you.
OK, well maybe you won’t actually be purchasing a house on your next shopping excursion but if your travels take you to the Oak View Mall, you can stop in at the CBSHome office for any and all of your real estate needs. We want to be your convenient real estate location.
The office is open whenever Oak View Mall is. There is always a helpful friendly agent available to answer any of your real estate questions. Wondering about the tax credit? Is there a house you have always been meaning to ask about but never got around to it? We can help.
If you are thinking of selling your property, ask us how your house can be displayed on the 52 inch monitors to the public. Oak View Mall is Nebraska’s highest traffic mall with over 14 Million visits per year. Our sellers’ properties are constantly on display whenever the mall is open at the most visible spot on the food court level.
We are open with hours that are convenient to you! Most of the real estate offices in Omaha are closed at 5 or 6 OClock at night. The CBSHome Oak View Mall office is open from 10am until 9pm every day except Sunday (11-6). The phone number is (402) 330-0807. Give us a call, especially in the evenings if you have a question that can’t wait until the next day.
Another convenient feature is our periodic seminars for the public. Our next seminar is scheduled for Tuesday, March 9th at 6:30 pm. We will be presenting the “Five Biggest Mistakes First Time Homebuyers Make“. We will also answer questions about the tax credits as well. Each person or couple in attendance will receive a free copy of David Bach’s Book “The Automatic Millionaire Homeowner” Please RSVP via email to Bill.Swanson@CBSHome.com.
If you have any questions and can’t make it to the seminar, please stop in at the mall office anytime!
Did you know that members of the military and certain other federal employees have additional tax credit benefits?
Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principle residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after December 31, 2008, and ending before May 1, 2010.
In many cases, the credit repayment (recapture) requirement is waived for members of the uniformed services, members of the Foreign Service and employees of the intelligence community. This relief applies where a home is sold or stops being the taxpayer’s principal residence after December 31, 2008, in connection with government orders received by the individual (or the individual’s spouse) for qualified official extended duty service. The credit is still allowable even if this happens during the year of purchase. Qualified official extended duty is any period of extended duty while serving at a place of duty at least 50 miles away from the taxpayer’s principal residence (whether inside or outside the U.S.) or while residing under government orders in government quarters. Extended duty is defined as any period of duty pursuant to a call or order to such duty for a period in excess of 90 days or for an indefinite period.
Congress made it clear that this is the LAST home buyer stimulus. We believe this to be true by all indicators. Don’t miss out on the opportunity provided by this tax credit and today’s low interest rates.
CBSHOME Real Estate has partnered with David Knox, a top sales trainer and keynote real estate speaker, to bring you more information regarding the Extended Home Buyer Tax Credit(s) that are currently available.
After a couple of week delay the Senate voted 98 – 0 on the Unemployment Insurance Bill that contained the provision to extend and expand the Homebuyer Tax Credit. The next step is for the legislation to go to the House for a vote and then on to the President for his signature at the end of this week or beginning of next week.
As a recap of the provisions as they now stand in the legislation. The tax credit for first time buyers was set to expire on November 30 of this year and will now be extended until April 30 of 2010. First time home buyers who are currently in the process of making a purchase would not need to worry about qualifying for the credit if they close after November 30 of this year.
Move up buyers as well as first time buyers are included in this bill with $8000 still being the threshold for first time buyers and $6500 for move up buyers whose income combined does not exceed $225,000. Move up buyers will be required to have lived as primary residence in their home for five of the last eight years. Current home does not need to be sold to qualify but credit can not be used for purchase of a vacation or investment property.
WIth interest rates still at a record low level and prices very reasonable I would suggest consulting with your CBSHOME Realtor and start looking.
As this proceeds through the House of Representatives I will keep you informed.
Everything is looking more promising that the extension and new provisions as noted below will be passed by the Senate and the House possibly by weeks end. The President has stated that in its current form he will sign the legislation. I assume the concession on the combined income from $300,000 then to $250,000, to now $225,000 was a concession made to insure this and that the combined income will be far enough away from that wealthy income definition of $250,000 as indicated in previous discussion by the administration.
Please see the highlights of the amendment below as published in update from National Association of Realtors
The extension and expansion of the home buyer tax credit is the pending business in the Senate. After a long week of negotiation on the credit, an agreement on the scope of both expansion and extension has been reached. The extension is part of a larger bill that has not yet gone to a vote, however. A Senate vote on the underlying bill will occur in the Senate during the week of November 1. The package will then go back to the House. The House is expected to accept the Senate amendments, vote on the package and send it to the President for signature. The underlying bill is an extension of unemployment benefits. Other provisions in the bill include expansion of the net operating loss carry-back rules, new requirements for some tax return preparers and noncontroversial provisions that “pay for” these changes.
The agreement on the extension and expansion of the credit is as follows:
Credit available for purchases before May 1, 2010. Prospective purchasers with binding contracts in place as of April 30, 2010 will be allowed an additional 60 days to complete the transaction.
Credit remains at $8000 for first-time purchasers. No change to definition of first-time purchaser.
New $6500 tax credit for repeat buyers who purchase between December 1, 2009 and May 1, 2010. Repeat buyers must have lived in their homes consecutively for 5 of the previous 8 years.
Income limits are expanded to $125,000 on a single return and $225,000 on a joint return. Current law $20,000 phase-out retained.
I have the pleasure of serving the Realtors of Nebraska as a Director at the National Association of Realtors. There has been a flurry of activity the last 48 hours pertaining to the potential extension of the First Time Home Buyers Tax Credit as well as an adjustment to whom the updated legislation would apply. The current truth as last update from Washington and stated below is where this legislation stands as of 12:00 p.m. on October 29th 2009. It could change at any time and I will do my best to keep everyone informed as I receive updates.
Washington Update NAR:
Senate leaders of both parties, key Senate Finance Committee members and staff, and the homebuyer tax credit sponsors Sen. Chris Dodd (D-CT), Sen. Joe Lieberman (I-CT, and Sen. Johnny Isakson (R-GA), have reached an agreement on extending and expanding the housing tax credit. However, right now, there is no agreement on how to attach this tax credit to the pending Unemployment Insurance bill, or whether to offer the tax credit agreement as an amendment to another bill, or whether to bring the agreement to the Senate floor and vote upon it as a separate, stand alone bill.
After Senate action – if passed – the legislation must still go to the House of Representatives for consideration. There are still a number of steps to take before anything is final. We will continue to keep you updated as we receive additional information.
A good read and we will keep pushing for passage. If you are so inclined please contact your representative and express your support.
Water doesn’t flow uphill, but the housing market may do just that.
As first-time buyers are recognizing the tremendous benefit of the $8,000 stimulus tax credit, the “starter” homes are beginning to fly off the market, so the home can be closed before the end of November. This allows the sellers of those homes to actually purchase the more expensive homes they have previously only been able to dream about.
Many times at open houses this summer, we’ve heard the words, “If our home would sell, I could buy this.”
Now we hear, “Our home has just sold. We are ready to buy.”
This is the uphill direction that should help our economy.
If you are thinking about purchasing a home anytime in the near future and qualify for the $8000 Tax Credit, DO IT NOW. To be able to get the $8000Tax Credit, the home you are purchasing must be CLOSED on or before Nov 30, 2009, no exceptions. This is what the law reads as of this posting. There are those who think the credit will be extended, but I wouldn’t wait to see if that happens and MISS OUT ON THIS GREAT OPPORTUNITY.
Some of the qualifications are
you must be a first time home buyer
there are income limits
can’t have owned a home in the past 3 years
you don’t have to repay it if you live in the home for 3 years.