Postcards from the Lake

Archive for the 'Real Estate News' Category

Missouri Offers Additional Homebuying Incentives

HOPE Incentive Program Now In Effect

Under the Home Ownership Purchase Enhancement (HOPE) program, eligible Missourians who purchase a family home in 2010 will receive a financial incentive equal to their first year’s property tax – of up to $1250.  This incentive is being funded by the MHDC (Missouri Housing Development Commission) to qualifying Missouri homebuyers.  This incentive will be available until the total pool of  $15 million dollars has been made exhausted.

An additional incentive  is also available to these qualified applicants who purchase a new energy-efficient home; purchase and upgrade the efficiency of an existing home; or purchase a home and an energy-efficient item.  The maximum combined incentives are capped at $1750.

 

View more information about the HOPE program

If you enjoyed this post and would like to see more as they are posted, subscribe here
to be notified of new ones by email. As always, your comments are welcomed below.

Author: Melody Anderson | January 20th, 2010
Categories: Real Estate News
0 Comments

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.

If you enjoyed this post and would like to see more as they are posted, subscribe here
to be notified of new ones by email. As always, your comments are welcomed below.

Author: Melody Anderson | November 5th, 2009
Categories: Market Trends, Real Estate News
2 Comments