Postcards from the Lake
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Archive for the 'Market Trends' Category
First-time homebuyer tax credit to be extended
Homeowners Wanting to Move-Up Also to Receive A Tax Credit
After passing 98-0 in the Senate, H.R. 3548 is expected to pass in the House by week’s end, and signed by the President.
In addition to extending the current $8000 tax credit for first-time homebuyers who are under contract by April 30, 2010; the bill also allows up to $6500 tax credit to buyers who have owned their existing home for at least 5 years, and who wish to buy another home as their primary residence.
This credit will be available for the purchase of primary residences under $800,000. The credit would be phased out for individuals with annual incomes above $125,000 and for joint filers with incomes above $225,000. The credit will be further extended for members of the military serving at least 90 days outside the country for an additional year.
This is such welcomed news for the Lake of the Ozarks region. Even though vacation homes are exempt, this additional credit will no doubt help existing homeowners make the move they’ve long wanted to make, but couldn’t - due to the depressed market.
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Author: Melody Anderson | November 5th, 2009
Categories: Market Trends, Real Estate News
2 Comments
Camdenton Real Estate Market Report
Sales of Single Family Residences Rise For 2nd Straight Month
A snapshot taken of the market activity for Camdenton home sales in recent months gives rise to optimism. The number of home sales in Sept and Oct show improvement over the extemely disappointing summer sales season. Many first-time homebuyers hoping to take advantage of the $8000 tax credit currently scheduled to expire in November likely account for much of the increase. We will all, no doubt, be watching closely to see where the real estate market goes from here as we enter what is traditionally the slowest home-buying season in Camdenton.
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Author: Melody Anderson | October 31st, 2009
Categories: Market Trends, Real Estate News
1 Comments
