The Clock Is Ticking for the tax Credits!

New Year…New Home – Is a new home one of your resolutions for 2010?  If so, now is the time to buy.  With favorable housing prices, a wide choice of inventory, low interest rates and a tax credit to boot, it is an incredible time to buy.  Call for details.

You must be under contract by April 30, 2010

You must close by June 30, 2010

Moving Up?  Moving Down?  Moving In Or Out Of Town? 
Whatever direction you’re headed, you may be eligible for a tax credit up to $8,000 when buying your next home.  Call for details.

No games, no gimmicks just honest, reliable service. Call me today! You can count on great service!

513-378-1461 Brenda's Direct Line

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The Ohio Association of REALTORS® Celebrates 100 Years in 2010
 

Consumers across the country can now take advantage of a Federal Housing Administration program to allow qualified home buyers to apply the $8,000 tax credit when purchasing a home. Also for current homeowners who have lived in their current home as their primary residence for 5 years may qualify for a $6,000 tax credit when purchasing a home! FHA will now permit its lenders to provide a short-term bridge loan that will let qualified home buyers use the tax credit to either make a larger downpayment above the FHA required 3.5 percent, cover closing costs, or buy down their interest rate.

Shaun Donovan of the U.S. Department of Housing and Urban Development stated in May that HUD would allow the first-time buyer tax credit to be used for a down payment or closing costs, at least for FHA-backed loans.

Need to justify to yourself why now is the perfect time to buy? Here are six reasons why now is the time to jump into the market.
1. Uncle Sam is willing to help. First-time buyers (defined as anyone who hasn't owned a home in the last three years) are entitled to a maximum $8,000 tax credit; interest rates are at record lows; and the Federal Reserve is doing its best to make mortgage loans available. (Sign-up for a Webinar to learn more about the home buyer tax credit)
2. People have to live somewhere. About 800,000 new households are formed each year in this country, ensuring that the housing market will tighten, even if the economy doesn't soar.
3. Borrowers leverage their investment. If you put $10,000 into the stock market and it earns 10 percent, you've earned $1,000. If you put $10,000 down on a home and its value increases 10 percent, you've made $10,000.
4. When prices come back up, you'll have instant equity. In parts of the country where foreclosures have driven down prices, better times will mean the price of the home you buy will rise rapidly.
5. Mortgage costs stay the same. If you get a fixed-rate mortgage, the monthly payment stays the same--while everything else, including rent, goes upward.
6. You own it. There is something comforting in the notion that your home is your own. You can paint it any color .

Source: The Wall Street Journal

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