Real Estate Market

Hi,

Here is a link to my "February Real Estate Update":

http://realtytimes.com/135/PaulineHofseth

This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.

This month's issue includes topics such as:

"Sell Faster When You Understand The Buyers Mindset";
"Exterior Remodeling Proves Best Bang for Your Buck";
"Homebuyer Tax Credit Boosts Economy";
"Is Your Credit Score as High as You Think?";
"What To Take And What To Leave Behind When Downsizing";

Plus a roundup of January real estate activity as well as much more advice and information.

I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!

If you do not wish to receive this Newsletter each month, please reply to this e-mail with the word 'REMOVE' in the subject line.

Sincerely,
Pauline Hofseth, CRS, e-Pro
Prudential Jack White/Vista Real Estate
Associate Broker
"Daring to Care"

Co-Author of the new book, HOW TO MAKE YOUR REALTORGET YOU THE BEST DEAL -- Alaska Version.

http://www.DaringToCare.com/
http://www.AKHomeSource.com/
http://www.PaulineHofseth.com/
http://www.AKHomeBuyerBook.com/

The following information is provided by the National Association of Home Builders, and can be found at:

http://www.federalhousingtaxcredit.com/print.php?page=faq1.php

First-time Home Buyer Tax Credit at a Glance

The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.

The tax credit does not have to be repaid.

The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.

The tax credit now applies to sales occurring on or after January 1, 2009 and or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.

For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.

For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

The $6,500 Move-Up or Move-Down/Repeat Home Buyer Tax Credit at a Glance detailed info can be found at:

http://www.federalhousingtaxcredit.com/print.php?page=faq2.php

To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.

The tax credit does not have to be repaid.

The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.

The tax credit applies only to homes priced at $800,000 or less.

The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed prior to June 30, 2010.

Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

We encourage you to visit the Home Builder’s website listed above and read the details of the tax credit programs.

Contact Information