Shelli Dore’s Real Estate Blog

Posts Tagged ‘US

The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.

The following questions and answers provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.

1. Who is eligible to claim the tax credit?
First-time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner.

2. What is the definition of a first-time home buyer?

Click here for all FAQs!

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Neighborhood Stabilization Program (NSP), which was created by the Housing and Economic Recovery Act of 2008 to address the problems that can be created to foreclosure-ridden neighborhoods.

According to U.S. Housing and Urban Development, "The NSP Program also seeks to prevent future foreclosures by requiring housing counseling for families receiving homebuyer assistance. In addition, the Agency seeks to protect future homebuyers by requiring States and local grantees to ensure that new homebuyers under this program obtain a mortgage loan from a lender who agrees to comply with sound lending practices."

Some highlights…

Energy Efficient Housing Tax Credits & Grants
— homeowners will be able to claim a 30% tax credit for purchases of new furnaces, windows and insulation through 2010.

Broadband Deploymen
t – Why should you care? A 2006 Commerce Department report determined that property values are 6% higher in communities where broadband is available.

Other provisions funded Rural Housing Service, Transportation Investments, Low Income Housing Grants, Tax-Exempt Housing Bonds, all of which benefit our communities by increasing or helping to stabilize housing values throughout the country.

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Shelli Dore

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…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.

Lauren Sherman, 03.30.09, 04:00 PM EST

U.S. migration may be down overall, but these vibrant metro areas are still attracting newcomers.

Unemployment is on the rise, credit is tight, and consumers aren’t spending–which means they aren’t picking up and moving much either. Very few places in America saw significant population growth in 2008.

But the buzzing metropolitan area of Denver bucked that trend. Its population increased by 2.17% in 2008. In 2007, it increased by 2.09%. In 2008, Denver was the 10th-fastest growing metro area in the U.S.

What’s Denver got that other places don’t? 

Click below or copy and paste this link in your internet browser for the complete article:

http://www.forbes.com/2009/03/30/americans-moving-cities-lifestyle-real-estate-relocating.html?partner=email

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Your friend in the real estate business,

Shelli Dore

Find me on Facebook!
Connect with me on LinkedIn!
Follow me on Twitter!

…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.

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Share this with your friends and family…

Bookmark and Share

Your friend in the real estate business,

Shelli Dore

Find me on Facebook!
Connect with me on LinkedIn!
Follow me on Twitter!

…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.

Yes, home prices in the Denver area dropped 4 percent during the 12-month period that ended in December. But that was the smallest decline of the 20 metropolitan areas tracked in the closely watched S&P/Case-Shiller Home Prices Indices released Tuesday.

Overall, the 20 cities fell by an average 18.5 percent. 

It was the second piece of news in as many days that indicates the local real estate market is bucking a national trend of homes in a free fall, as the nation grapples with the worst housing crisis since the Great Depression.

On Monday, the Colorado Division of Housing reported that state foreclosure filings declined 2 percent in 2008 from 2007, the first drop since the state began tracking foreclosures six years ago. In the metro area, Denver County showed a 21 percent drop in filings.

Foreclosure sales were down even more, falling 16 percent, though many experts think that is largely due to temporary lender moratoriums on foreclosures.

While any decline in prices is "not happy news," the Denver-area housing market should hit the bottom no later than the end of third quarter of this year… Read on!

Your friend in the real estate business,

Shelli Dore

Find me on Facebook!
Connect with me on LinkedIn!

…Remember! The next time you are in a conversation with someone who is thinking about a move – IN ANY CITY OR STATE IN THE US OR CANADA – call me first! I can help make sure your friends, family members and work associates are very well taken care of.


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