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April 2, 2010 at
9:58 am
Happy Spring All!
With April 30 right around the corner, this is your last chance to take advantage of the Homebuyer Tax Credit. The credit has already been expired once, and you will be kicking yourself if you watch it come and go without taking advantage. Do not risk missing this – it really is a once in a lifetime opportunity.
Did I mention the government is giving you money? $8,000 if you’re a first-time homebuyer or $6,500 if you’re a current homeowner! Just for purchasing a home – not bad, not bad at all.
What is wonderful is that an estimated 2.2 million to 2.4 million are expected to take advantage of the extended and expanded homebuyer tax credit this year. That’s a lot of people. And according to Lawrence Yun, 800,000 of those transactions would not have been made without the credit – thank goodness for this fantastic tax credit!
Well, I hope you’ve…
Found the house you’ve been looking for
Are currently under contract (or will be by April 30!)
Had your new home inspected
Are prepared for the down payment and escrow (and ready for adjustments)
Preparing to move!
Happy Homebuying!
Joe
Categories: $6500, $8000, Claiming tax credit, Down payment, Expanded homebuyer tax credit, Extended and expanded tax credits, First-time homebuyer, Homebuyers, Mortgage rates, Starting out, Wisconsin Realtors, Wisconsin current homebuyer, Wisconsin first-time home buyer, Wisconsin homebuyer, Wisconsin real estate, Wisconsin tax credits, current homebuyer
March 26, 2010 at
1:47 pm
Friday’s are for following. At least in the Twitter world they are! One of the reasons I love the social world, where I’m happily settled into my blog, is because of all my wonderful, intelligent neighbors! I am surrounded by the best resources – and am constantly sharing my knowledge with my Twitter (@JoetheHomebuyer) followers, Facebook Fans and Blog readers.
Let’s start with my favorite site WisconsinHombuyers.org – this is my information hub. I’m willing to bet that this site has the most information on the Homebuyer Tax Credit than any other site out there. I mean, its main purpose in life is to provide Wisconsinites with the most up-to-date information on the Homebuyer Tax Credit!
And whenever a question arises that requires that I double-double-check my resources, I visit HUD or the IRS. Those two know pretty much everything!
Two other great resources for information on the Homebuyer Tax Credit are my Facebook page and Twitter stream. While everyone loves them some Facebook and Twitter distractions, these two social networks prove to be excellent places to receive and share information. Especially exciting breaking news – like when the Tax Credit was Extended and Expanded! Those of you checking your Twitter and Facebook probably heard about it first!
I am also a big fan of #FollowFriday on Twitter. This is a great time to acknowledge the people you think have great insights. It shows appreciation – and gives your followers the option to follow those who you think are great. It’s just one big sharing world out there! Some of my favorite people to follow for tips on the Wisconsin Real Estate world are @WiRealtors, @REALTORS. I also love to follow @HGTV and @BobVilacom for fun tips on being a home owner.
So – all of you potential homebuyers debating whether or not you’re ready to take advantage of the Homebuyer Tax Credit, I encourage you to dive into the social world! Once you’re settled, you’ll be very glad you did.
Happy Homebuying!
Joe
Categories: $6500, $8000, Claiming tax credit, Down payment, Expanded homebuyer tax credit, Extended and expanded tax credits, First-time homebuyer, Homebuyers, Mortgage rates, Starting out, Wisconsin Realtors, Wisconsin current homebuyer, Wisconsin first-time home buyer, Wisconsin homebuyer, Wisconsin real estate, Wisconsin tax credits, current homebuyer
March 19, 2010 at
9:23 am
 As a recent homeowner, memories of renting are fresh in my mind. While renting was perfect for me at the time, I very much appreciate owning my own home and not having to deal with landlords. Actually, there are quite a few things I do miss about renting.
I miss being told what colors I can paint my walls.
I miss being told I won’t get my security deposit back because of a small stain on the carpet.
I miss being told I need to move out because they are turning my apartment into condos.
I miss paying for my landlord’s vacations.
Wait… these things shouldn’t be missed!
If you’re a renter, contemplating purchasing a house (how could you not consider with the $8,000 tax credit as an incentive) I challenge you to do the math – what you’re paying now as a renter, versus an estimated mortgage for a house in your desired neighborhood.
Purchasing a home is the best investment you can make.
Happy Homebuying!
Joe
Categories: $6500, $8000, Claiming tax credit, Down payment, Expanded homebuyer tax credit, Extended and expanded tax credits, First-time homebuyer, Homebuyers, Mortgage rates, Starting out, Wisconsin Realtors, Wisconsin current homebuyer, Wisconsin first-time home buyer, Wisconsin homebuyer, Wisconsin real estate, Wisconsin tax credits, current homebuyer
March 11, 2010 at
4:34 pm
Recently on my Facebook Fan Page, I posted an article on the fact that you can use your tax credit as a down payment. A lot of questions arose as to whether or not, with the extension and expansion of the homebuyer tax credit, this statement was still valid.
I, Joe the Homebuyer/blogger, want to clarify that YES you can use the tax credit towards your down payment.
The U.S. Department of Housing and Urban Development (HUD) has a program that allows borrowers to use the first-time home buyer tax credit for a down payment or closing costs on a FHA-insured mortgage.
The only stipulation is that the FHA requires that a minimum of 3.5 percent of the down payment must come from the homebuyer’s own funds (and cannot include the proceeds of the sale of the anticipated tax credit or any other funds provided by the mortgagee, seller or any other party of interest to the transaction).
Okay. I hope this information helps! If you have more specific questions, click on the above links, @ or DM me on Twitter, or write your question on my Facebook Fan Page wall.
Happy Homebuying!
Joe
Categories: $6500, $8000, Claiming tax credit, Down payment, Expanded homebuyer tax credit, Extended and expanded tax credits, First-time homebuyer, Homebuyers, Mortgage rates, Starting out, Wisconsin Realtors, Wisconsin current homebuyer, Wisconsin first-time home buyer, Wisconsin homebuyer, Wisconsin real estate, Wisconsin tax credits, current homebuyer
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