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1 ST TIME BUYER TAX CREDIT IS EXTENDED !!

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Marlayne Skeens View Drop Down
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Joined: Sep 26 2009
Location: Middletown
Status: Offline
Points: 125
Post Options Post Options   Thanks (0) Thanks(0)   Quote Marlayne Skeens Quote  Post ReplyReply Direct Link To This Post Topic: 1 ST TIME BUYER TAX CREDIT IS EXTENDED !!
    Posted: Nov 05 2009 at 9:03pm

NAR Issue Brief

Homebuyer Tax Credit Changes

National Association of REALTORS® Government Affairs Division

500 New Jersey Avenue, NW, Washington DC, 20001

Congress has extended and expanded the homebuyer tax credit. The modifications in the column labeled

“December 1 – April 30, 2010” become effective when President Obama signs the bill. All changes made

to the current credit become effective on that date, as well.

FEATURE Jan 1 – November 30, 2009 Rules as enacted February 2009

December 1 – April 30, 2010 Rules as enacted November 2009

First time Buyer – Amount of Credit $8000 ($4000 married filing separate)

First time Buyer – Definition for Eligibility

May not have had an interest in a principal residence for 3 years prior to purchase

Current Homeowner – Amount of Credit $6500 ($3250 married filing separate)

Current Homeowner – Definition for Eligibility Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years

Termination of Credit Purchases after November 30, 2009 (Becomes April 30, 2010 on Date of Enactment.)

Purchases after April 30, 2010 Binding Contract Rule  So long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Income Limits (Note: Increased income limits are effective as of date of enactment of bill)

Effective Date 1-01-09 $75,000 – single $150,000 – married Additional $20,000 phase out

Effective Date 12-01-09 through 4-30-2010 $125,000 – single $225,000 – married

Additional $20,000 phase out

Limitation on Cost of Purchased Home  $800,000 Effective Date of Enactment

Purchase by a Dependent No Provision Ineligible Effective Date of Enactment

Antifraud Rule  Purchaser must attach documentation of purchase to tax return

** If I can be of help to you or someone you know, Please give me a call 513-465-6748
    Smile THANK YOU Smile
I offer Professional, Ethical Service and a Smile,
while Following The Golden Rule ~ Thank You :-)
*For ALL Your Real Estate Needs Call Marlayne with Real Living Realty Services @ 513-465-6747

NAR Issue Brief

Homebuyer Tax Credit Changes

National Association of REALTORS® Government Affairs Division

500 New Jersey Avenue, NW, Washington DC, 20001

Congress has extended and expanded the homebuyer tax credit. The modifications in the column labeled

“December 1 – April 30, 2010” become effective when President Obama signs the bill. All changes made

to the current credit become effective on that date, as well.

FEATURE Jan 1 – November 30, 2009 Rules as enacted February 2009

December 1 – April 30, 2010 Rules as enacted November 2009

First time Buyer – Amount of Credit $8000 ($4000 married filing separate)

First time Buyer – Definition for Eligibility

May not have had an interest in a principal residence for 3 years prior to purchase

Current Homeowner – Amount of Credit $6500 ($3250 married filing separate)

Current Homeowner – Definition for Eligibility Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years

Termination of Credit Purchases after November 30, 2009 (Becomes April 30, 2010 on Date of Enactment.)

Purchases after April 30, 2010 Binding Contract Rule  So long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Income Limits (Note: Increased income limits are effective as of date of enactment of bill)

Effective Date 1-01-09 $75,000 – single $150,000 – married Additional $20,000 phase out

Effective Date 12-01-09 through 4-30-2010 $125,000 – single $225,000 – married

Additional $20,000 phase out

Limitation on Cost of Purchased Home  $800,000 Effective Date of Enactment

Purchase by a Dependent No Provision Ineligible Effective Date of Enactment

Antifraud Rule  Purchaser must attach documentation of purchase to tax return

** If I can be of help to you or someone you know, Please give me a call 513-465-6748
    Smile THANK YOU Smile
I offer Professional, Ethical Service and a Smile,
while Following The Golden Rule ~ Thank You :-)
*For ALL Your Real Estate Needs Call Marlayne with Real Living Realty Services @ 513-465-6747

NAR Issue Brief

Homebuyer Tax Credit Changes

National Association of REALTORS® Government Affairs Division

500 New Jersey Avenue, NW, Washington DC, 20001

Congress has extended and expanded the homebuyer tax credit. The modifications in the column labeled

“December 1 – April 30, 2010” become effective when President Obama signs the bill. All changes made

to the current credit become effective on that date, as well.

FEATURE Jan 1 – November 30, 2009 Rules as enacted February 2009

December 1 – April 30, 2010 Rules as enacted November 2009

First time Buyer – Amount of Credit $8000 ($4000 married filing separate)

First time Buyer – Definition for Eligibility

May not have had an interest in a principal residence for 3 years prior to purchase

Current Homeowner – Amount of Credit $6500 ($3250 married filing separate)

Current Homeowner – Definition for Eligibility Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years

Termination of Credit Purchases after November 30, 2009 (Becomes April 30, 2010 on Date of Enactment.)

Purchases after April 30, 2010 Binding Contract Rule  So long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Income Limits (Note: Increased income limits are effective as of date of enactment of bill)

Effective Date 1-01-09 $75,000 – single $150,000 – married Additional $20,000 phase out

Effective Date 12-01-09 through 4-30-2010 $125,000 – single $225,000 – married

Additional $20,000 phase out

Limitation on Cost of Purchased Home  $800,000 Effective Date of Enactment

Purchase by a Dependent No Provision Ineligible Effective Date of Enactment

Antifraud Rule  Purchaser must attach documentation of purchase to tax return

** If I can be of help to you or someone you know, Please give me a call 513-465-6748

     THANK YOU

 

I offer Professional, Ethical Service and a Smile,
while Following The Golden Rule ~ Thank You :-)
*For ALL Your Real Estate Needs Call Marlayne with Real Living Realty Services @ 513-465-6747
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PattiGal View Drop Down
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Joined: Sep 09 2009
Status: Offline
Points: 113
Post Options Post Options   Thanks (0) Thanks(0)   Quote PattiGal Quote  Post ReplyReply Direct Link To This Post Posted: Nov 14 2009 at 10:37pm
Marlayne started out as a wonderful customer, became a great friend, and eventually became our realtor. Since then we have passed her name on to many others who have appreciated her hard work, ethics, and wonderful instincts. If you or anyone you know might need an honest, knowledgeable realtor, look no farther than Marlayne Skeens. Truly!
Bruce and Jennie from Patti's Cards & Gifts.
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Marlayne Skeens View Drop Down
MUSA Resident
MUSA Resident
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Joined: Sep 26 2009
Location: Middletown
Status: Offline
Points: 125
Post Options Post Options   Thanks (0) Thanks(0)   Quote Marlayne Skeens Quote  Post ReplyReply Direct Link To This Post Posted: Nov 15 2009 at 10:47pm
Dear Jennie & Bruce ~ Thank you for your kind words. You are so right, we did meet as I shopped your gift shop @ The Towne Mall ~ You were people I knew I wanted to do business with and have continued to shop in your new location and even stop in, just say hi. Thank you so much for having trust in me as your Realtor ~ Smile
I offer Professional, Ethical Service and a Smile,
while Following The Golden Rule ~ Thank You :-)
*For ALL Your Real Estate Needs Call Marlayne with Real Living Realty Services @ 513-465-6747
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