$6,500 Tax Credit for Current Homeowners and $8,000 for First Time Homebuyers..All You Need To Know

Click on the link below for all the information you need. There is a ton of information there. Contact me with questions.

clipped from www.realtor.org The Basics: Extended Home Buyer Tax Credit 2009/2010 As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that: Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010. Expands the credit to grant a $6,500 credit to current home owners purchasing a new or existing home between the date the bill is signed by President Obama and April 30, 2010. NAR Tax Credit Resources Home Buyer Tax Credit FAQ (PDF: 596K) Tax Credit as Down Payment on FHA Mortgage Flyer (PDF: 220K) Video News Brief: NAR Urges Tax Credit Extension REALTOR® Magazine Webinar, Q&A, and Quiz Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream.

German Village Featured in the New York Post

The other New York paper..lol Click on the link to read the entire article.

clipped from www.nypost.com 50 STATES: Ohio A visit to Columbus’ historic German Village, which might just be the happiest place in the Buckeye State IF you are the sort of person who likes to look for a silver lining to every cloud, there is an upside to the decline of the domestic automotive industry. Without the shrinking of the sector, the pillar of so many Ohio cities and towns, Kristy Yosick might never have left the Toledo area. She might still be employed as a tech recruiter on the supply side of the automotive industry, instead of down in Columbus, the state capital, making chocolate. Yosick, a fabulously fierce and short-haired woman, has an easy explanation as to why she was in the car business one day and then making key lime truffles in her South Fifth Street shop, called Yosick’s, the next. Kristy Yosick owns a chocolate shop on S. Fifth Street in Columbus' historic German Village.

Congress Agrees to Keep Homebuyers’ Tax Credit and Give $6,500 to Current Owners Who Buy

Great news!!!

clipped from www.nytimes.com WASHINGTON — The Senate and House are poised to agree on a compromise measure to extend unemployment benefits that also would expand a popular $8,000 tax credit for homebuyers, despite a recent government report on extensive mistakes and suspected fraud in the program. The homebuyers’ credit — enacted last year, expanded this year and scheduled to expire Nov. 30 — would be extended to cover homes under contract by April 30. Also, it no longer would be limited to first-time buyers; people who have owned a home for at least five years could get a $6,500 credit on a new residence. Income limits for eligibility would be raised, making many more people qualify. The Senate might pass its version as early as Wednesday, and aides to Congressional leaders say the House could accept it this week, sending the bill to President Obama to sign into law.

Homebuyer Tax Credit Closer To Getting A New Life And A Tax Credit For Current Owners

We are getting closer.

clipped from www.realtor.org Key lawmakers in the Senate have tentatively agreed to extend the existing $8,000 tax credit for first-time home buyers and also offer a new $6,500 credit for existing homeowners who have lived in their current residence for a consecutive five-year period in the past eight years. Home buyers must be under contract by April 30, 2010, and close before July 1. House Democrats have expressed concern about the cost of the tax credit for the government, and allegations of abuse have resulted in an IRS probe of the program. Source: Wall Street Journal, Corey Boles and John D. McKinnon (10/29/09

BREAKING NEWS: Body Found Near Goodale Park

clipped from www.abc6onyourside.com BREAKING NEWS: Body Found Near Goodale Park Columbus, Ohio -- Columbus Homicide detectives are trying to figure out what caused the death of a person found near Goodale Park. The body was found on the porch of a home on West First Avenue Police are saying there isn't obvious trauma to the body. There is no word on whether or not this is even a suspicious death.

Buckeye Hall of Fame to be Replaced with Hotel

clipped from www.columbusunderground.com The writing has been on the wall for the Buckeye Hall of Fame Cafe ever since they went into receivership back in March, but the future of the site may have been determined last night. City Council approved a 10-year tax break for a developer who is proposing to tear down the restaurant and build a six-story 134-room hotel in its place. The owners of the Hall of Fame have stated that they are looking for a new smaller space to relocate the restaurant to. Anyone have any ideas on where might be a good fit?

Breaking News: Update on an extension for the $8,000 First Time Homebuyer Tax Credit.

The United States Senate is expected to vote, later today, on a bill to extend Unemployment Insurance benefits. This bill will contain the Dodd-Lieberman-Isakson Amendment to extend and expand the $8,000 First Time Homebuyer Tax Credit.

The Extended and Expanded Tax Credit will contain the following provisions:

Amount: $8,000

Eligibility: ALL HOME BUYERS (Step-up buyers will have to have lived in their current home for SEVEN* years to be eligible)

Income Limits: $125,000 for single filers/$225,000 for joint filers

Time Frame: December 1, 2009 to April 30, 2010 plus 60 Day extension if binding contract is in place by April 30, 2010

*The 7 year ownership requirement is designed to lower the "score" or cost of the tax credit. This is still open to change. The Congressional Budget Office is going to "score" the cost of 3 year and 5 year requirements. We are continuing to push for step-up buyers to be required to be in their current home for three year period.

NAR (National Association of Realtors) will be monitoring the progress and any potential changes to the bill. NAR will send out a notice when the legislation is voted on tonight--regardless of how late into the night or early into the morning the debate continues.


This is a good first step. We need to see the version from the House of Representatives.