tag:blogger.com,1999:blog-14104534582539362012024-02-02T09:21:16.465-07:00Adam Coe Real EstateAdamhttp://www.blogger.com/profile/16640277278564508828noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-1410453458253936201.post-30338640605941047702010-02-01T17:14:00.001-07:002010-07-08T17:05:57.604-07:00My Approach To BusinessI always tell people we’re not in the real estate business. We’re really in the business of helping people get what they want—by providing the best possible service and finding the best possible value. We’ve been doing this with consistency over the past 12 years, since our founding in 1997. Today we work with over 400 clients who think of us first when buying or selling real estate…or when they just want to talk about business or business opportunities. We’re proud of the fact we’ve “grown up” with many of our clients, and that we are the only realtor they have ever used. And the only one they recommend. One of my favorite quotes says, “Don’t be content with average because average is just as close to the bottom as it is to the top.”<br />
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We hope you might give us an opportunity to raise your expectations about what’s possible in the business of real estate.<br />
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Sincerely, <br />
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Adam B. CoeAdamhttp://www.blogger.com/profile/16640277278564508828noreply@blogger.comtag:blogger.com,1999:blog-1410453458253936201.post-37977295944863387162009-03-17T10:19:00.000-07:002010-09-20T18:36:21.744-07:00The Impact on Your Credit Score (click document to enlarge)<div class="separator" style="clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/_bDDybTUyXMI/S6EO9kWCQFI/AAAAAAAAAAk/g3bHB1mEM_k/s1600-h/consequences+of+short+sales+and+foreclosures.jpg" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="434" src="http://4.bp.blogspot.com/_bDDybTUyXMI/S6EO9kWCQFI/AAAAAAAAAAk/g3bHB1mEM_k/s640/consequences+of+short+sales+and+foreclosures.jpg" vt="true" width="640" /></a></div>Adamhttp://www.blogger.com/profile/16640277278564508828noreply@blogger.comtag:blogger.com,1999:blog-1410453458253936201.post-23689567090971657242009-02-01T18:10:00.002-07:002010-03-26T17:29:34.229-07:00Contact Adam<span style="font-size: large;">Adam Coe, Realtor</span><br />
Realty Executives<br />
PO Box 2481<br />
Gilbert, AZ 85299<br />
<strong>(602) 380-2050</strong><br />
<a href="mailto:abcoe@yahoo.com">abcoe@yahoo.com</a>Adamhttp://www.blogger.com/profile/16640277278564508828noreply@blogger.comtag:blogger.com,1999:blog-1410453458253936201.post-76136907308461417572009-02-01T18:07:00.000-07:002010-02-01T18:08:55.093-07:00Referral Directory<strong><span style="font-size: large;">Old Republic Title</span></strong><br />
John Gronley (480) 820-2255<br />
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<strong><span style="font-size: large;">XYZ Home Inspections</span></strong><br />
John DoeAdamhttp://www.blogger.com/profile/16640277278564508828noreply@blogger.comtag:blogger.com,1999:blog-1410453458253936201.post-83400150428284663562009-02-01T17:59:00.000-07:002010-02-05T23:24:33.181-07:00Contact Information and Web Portal<strong><span style="font-size: large;">Adam Coe,</span></strong> <span style="font-size: x-small;">REALTOR</span><br />
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(480) 234-2345<br />
<a href="mailto:AdamCoeRealEstate@gmail.com">click here to e-mail your request</a> <br />
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<span style="font-family: Georgia, "Times New Roman", serif; font-size: large;"><em>If you would like an e-mail sent to you that provides you a portal of all the properties that meet your criteria, and is updated daily. Send us your criteria (Square footage, bedrooms, baths, city, amenities, swimming pool, price range) and our program will automatically set you up within 24 hours.</em></span>Adamhttp://www.blogger.com/profile/16640277278564508828noreply@blogger.comtag:blogger.com,1999:blog-1410453458253936201.post-69730821089510065842009-02-01T17:52:00.000-07:002010-02-01T17:54:24.726-07:00The Escrow Process (click on chart to enlarge)<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhd1RtGa0RaePJ66kTfzSE3Rv65rNBzPStc-AFO3orsdPp6eImQd5curVdy1FuhZIoHhAdemrvp8my-mDJRQK7DXyssWAws5OMf7vDssHq9U9vr0lFE0OcFi-ycFuKsQEbizThI9btc_zpd/s1600-h/life+of+escrow.jpg" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="400" kt="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhd1RtGa0RaePJ66kTfzSE3Rv65rNBzPStc-AFO3orsdPp6eImQd5curVdy1FuhZIoHhAdemrvp8my-mDJRQK7DXyssWAws5OMf7vDssHq9U9vr0lFE0OcFi-ycFuKsQEbizThI9btc_zpd/s400/life+of+escrow.jpg" width="293" /></a></div>Adamhttp://www.blogger.com/profile/16640277278564508828noreply@blogger.comtag:blogger.com,1999:blog-1410453458253936201.post-49436674822968184452009-02-01T17:44:00.001-07:002010-04-05T14:37:37.336-07:00Tax Consequences When You Sell Your Property in the US<span style="font-family: Georgia, "Times New Roman", serif;"></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">Following is an overview of The Foreign Investment in Real Property Tax Act of 1980 (FIRPTA). This doesn't affect you if you are not a US citizen and purchasing a property; however, it might affect you when it comes time to sell your property. We strongly advise that you seek legal counsel and/or tax advice from your attorney and CPA. Most often the easiest procedure in dealing with FIRPTA is to obtain a tax ID number or Social Security Number before you sell your property.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>Withholding of Tax on Dispositions of United States Real Property Interests</strong></span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">The disposition of a U.S. real property interest by a foreign person (the transferor) is subject to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) income tax withholding. FIRPTA authorized the United States to tax foreign persons on dispositions of U.S. real property interests. A disposition means “disposition” for any purpose of the Internal Revenue Code. This includes but is not limited to a sale or exchange, liquidation, redemption, gift, transfers, etc. A U.S. real property interest includes sales of interests in parcels of real property as well as sales of shares in certain U.S. corporations that are considered U.S. real property holding corporations. Persons purchasing U.S. real property interests (transferee) from foreign persons, certain purchasers' agents, and settlement officers are required to withhold 10 percent of the amount realized (special rules for foreign corporations). Withholding is intended to ensure U.S. taxation of gains realized on disposition of such interests. The transferee/buyer is the withholding agent. If you are the transferee/buyer you must find out if the transferor is a foreign person. If the transferor is a foreign person and you fail to withhold, you may be held liable for the tax. For cases in which a U.S. business entity such as a corporation or partnership disposes of a U.S. real property interest, the business entity itself is the withholding agent.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">The amount that must be withheld from the disposition of a U.S. real property interest can be adjusted pursuant to a withholding certificate issued by the IRS.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">A disposition includes the sale of any U.S. real property interests in the United States or U.S. Virgin Islands.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">Generally speaking, in reference to the disposition of a U.S. real property interest, the foreign person disposing of the US real property interest is referred to as the transferor.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">The purchaser of the U.S. real property interest is referred to as the transferee.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">Generally, the amount realized is the purchase/sales price of the U.S. real property interest but can also include any property received by the transferor and any liability relieved of by the transferor.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">Generally, the buyer/transferee must determine if the seller is a foreign person. If so, the buyer/transferee is responsible for the withholding taxes.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">The buyer/transfer may be held liable for the tax that should have been withheld on the purchase.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">One of the most common exceptions to FIRPTA withholding is that the buyer/transferee is not required to withhold tax in a situation in which the buyer/transferee purchases real estate for use as his personal residence and the purchase price is not more than $300,000. </span>Adamhttp://www.blogger.com/profile/16640277278564508828noreply@blogger.comtag:blogger.com,1999:blog-1410453458253936201.post-85083530164681410452008-02-09T13:33:00.000-07:002010-02-09T13:34:14.587-07:00new articlefdfsdgfgfsgfsfgsdfdsfgsdgsagfsgsgfsgfsAdamhttp://www.blogger.com/profile/16640277278564508828noreply@blogger.comtag:blogger.com,1999:blog-1410453458253936201.post-1250653748343081412007-02-09T20:51:00.002-07:002010-03-17T14:42:07.403-07:00Investment Opportunities<span style="font-family: Georgia, "Times New Roman", serif;"><em>Buy low and sell high</em>. This is one of the humorous axioms of investment – yet a truth. The goal of all investors is to increase their wealth position through investing in vehicles that will maximize their <em>internal rate of return</em>. Real estate has historically been a sound investment vehicle assuming that you are not purchasing at the top of the market nor acquiring property in a blighted area.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">The <em>fundamentals</em> of Phoenix are strong; it is still among the fastest growing metro areas in the country and the forecast is for growth to continue for the next decade. The Valley of the Sun has a relatively low cost of living and friendly corporate environment and the amenities and weather that go along with the Southwest.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">No one can know where the bottom of the market is (was) until it has passed and on the increase. I've always felt that you have to look in the rearview mirror to see the bottom of the market. There is no doubt that Phoenix area property values are nowhere near their record setting values in 2005 or even market values prior to the boom. What this means to the investor is growth potential. Current prices have been flat for several months which could indicate that we have hit bottom. Absorption and sales have increased 100% over a year ago and demand is beginning to catch up with supply. </span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">As a Realtor® I cannot make any guarantees about where the market will be in the future; however, it is fair to say there is great upside potential. We are far below historic property values, there is an ample supply of renters to fill the rental properties and plenty of room for capital appreciation. The market correction has left a considerable amount of opportunity for the investor who desires a “fix and flip” or rental property with a 3-5 year holding period. </span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">Please refer to the graphs and market data that I post on this website; it is current and will give you a good idea as to where prices have been and the opportunity that lies ahead. I would also like to represent you in your transactions and believe that my experience in representing investors, as well as personal investment experience, will assist you in maximizing your profit potential while keeping an eye on the risk factors. Please call me to discuss your investment plans for the Greater Phoenix Area.</span>Adamhttp://www.blogger.com/profile/16640277278564508828noreply@blogger.comtag:blogger.com,1999:blog-1410453458253936201.post-23720287248876158702004-02-09T18:18:00.002-07:002010-03-17T14:48:50.916-07:00Rent vs Own<span style="font-family: Georgia, "Times New Roman", serif;">If you're like most first-time home buyers, you've probably listened to listened to advice from friends, family and coworkers, many of whom are encouraging you to buy a home. However, you may still wonder if buying a home is the right thing to do. Relax. Having reservations is normal. The more you know about why you should buy a home, the less scary the entire process will appear to you. Here are eight good reasons why you should buy a home, a quick formula which will tell you how much you can afford, and information on the $8,000 tax credit.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>1. Pride of Ownership</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">Pride of ownership is the number one reason why people yearn to own their home. It means you can paint the walls any color you desire, turn up the volume on your CD player, attach permanent fixtures and decorate your home according to your own taste. Home ownership gives you and your family a sense of stability and security. It's making an investment in your future.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>2. Appreciation</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">Although real estate moves in cycles, sometimes up, sometimes down, over the years, real estate has consistently appreciated. The Office of Federal Housing Enterprise Oversight tracks the movements of single family home values across the country. Its House Price Index breaks down the changes by region and metropolitan area. Many people view their home investment as a hedge against inflation.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>3. Mortgage Interest Deductions</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">Home ownership is a superb tax shelter and our tax rates favor homeowners. As long as your mortgage balance is smaller than the price of your home, mortgage interest is fully deductible on your tax return. Interest is the largest component of your mortgage payment.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>4. Property Tax Deductions</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">IRS Publication 530 contains tax information for first-time home buyers. Real estate property taxes paid for a first home and a vacation home are fully deductible for income tax purposes. In California, the passage of Proposition 13 in 1978 established the amount of assessed value after property changes hands and limited property tax increases to 2% per year or the rate of inflation, whichever is less.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>5. Capital Gain Exclusion</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">As long as you have lived in your home for two of the past five years, you can exclude up to $250,000 for an individual or $500,000 for a married couple of profit from capital gains. You do not have to buy a replacement home or move up. There is no age restriction, and the "over-55" rule does not apply. You can exclude the above thresholds from taxes every 24 months, which means you could sell every two years and pocket your profit--subject to limitation--free from taxation.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>6. Preferential Tax Treatment</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">If you receive more profit than the allowable exclusion upon sale of your home, that profit will be considered a capital asset as long as you owned your home for more than one year. Capital assets receive preferential tax treatment.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>7. Mortgage Reduction Builds Equity</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">Each month, part of your monthly payment is applied to the principal balance of your loan, which reduces your obligation. The way amortization works, the principal portion of your principal and interest payment increases slightly every month. It is lowest on your first payment and highest on your last payment. On average, each $100,000 of a mortgage will reduce in balance the first year by about $500 in principal, bringing that balance at the end of your first 12 months to $99,500.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>8. Equity Loans</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">Consumers who carry credit card balances cannot deduct the interest paid, which can cost as much as 18% to 22%. Equity loan interest is often much less and it is deductible. For many home owners, it makes sense to pay off this kind of debt with a home equity loan. Consumers can borrow against a home's equity for a variety of reasons such as home improvement, college, medical or starting a new business. Some state laws restrict home equity loans.</span><br />
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<strong><span style="font-family: Georgia, "Times New Roman", serif;">How Much Mortgage Payment Can You Afford</span>?</strong><br />
<span style="font-family: Georgia, "Times New Roman", serif;">When considering leasing versus purchasing, for a ballpark comparison, considers that 100% of your mortgage payment is interest, and this interest will be deducted from your income taxes (both federal and state). Typically on a 30 year mortgage your interest in the first few years of the loan will make up 98%+ of the payment.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">Take your federal tax bracket and and add it to 1.0. and then multifly this factor by your current rent payment. For example if your federal tax rate is 20%, and your monthly rent is $1,000; you would multiply $1,000 x 1.20 = $1,200. This formula takes into account the mortgage interest tax write off into consideration and calculates a mortgage payment that would mortgage be effectively equal to your current rent payment in that it would not change your present wealth position.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">This formula doesn't take into account the possible appreciation that you will gain on your home or the tax savings from state taxes. Additionally it doesn't take into account your property taxes, homeowners insurance and possible HOA fees either - but it is a pretty good ballpark figure to start with.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>$8,000 federal tax credit</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">Have you heard about the $8,000 federal tax credit for 1st time homebuyers? Actually, anyone who is over 18 and HAS NOT OWNED A HOME IN THE LAST 3 YEARS is eligible for this credit. And the deadline for taking advantage of this program has been extended. As long as your home is under contract before April 30, 2010 and closes escrow before June 30, 2010, you’re eligible. As with all tax and legal issues, CONTACT an Attorney or CPA to verify your qualification and the impact this will have on you.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">The credit, which was to expire at the end of November will now be available for those that perhaps are sitting on the fence and still unsure if now is the right time to buy!</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">There is also a $6,500 tax credit for buyers who are buying their next primary residence AND have owned a primary residence for at least the last 5 years. </span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>Who Qualifies for the Extended Credit?</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">• First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010. </span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">• Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight. </span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">If you or your client purchased a home between January 1, 2009 and November 6, 2009, click here for the 2009 First-Time Home Buyer Tax Credit.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>Which Properties Are Eligible?</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>How Much Is Available?</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">The maximum allowable credit for first-time home buyers is $8,000.</span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">The maximum allowable credit for current homeowners is $6,500.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>How is a Buyer’s Credit Amount Determined?</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">Each home buyer’s tax credit is determined by two additional factors:</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">1. The price of the home. </span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">2. The buyer’s income. </span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>Price</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>Buyer Income</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 6, 2009, click here for the 2009 First-Time Home Buyer Tax Credit.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;"><strong>If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?</strong></span><br />
<span style="font-family: Georgia;">Yes, some buyers may still be eligible for the credit.</span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.</span><br />
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<span style="font-family: Georgia;"><strong>Can a Buyer Still Qualify If He/She Closes After April 30, 2010?</strong></span><br />
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<span style="font-family: Georgia, "Times New Roman", serif;">Under the Extended Home Buyer Tax Credit, as 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.</span><br />
<br />
<span style="font-family: Georgia, "Times New Roman", serif;"><strong>Will the Tax Credit Need to Be Repaid?</strong></span><br />
<span style="font-family: Georgia, "Times New Roman", serif;">No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale. </span>Adamhttp://www.blogger.com/profile/16640277278564508828noreply@blogger.comtag:blogger.com,1999:blog-1410453458253936201.post-62961655414000994842003-02-17T16:16:00.000-07:002010-09-20T18:36:21.956-07:00Short Sale vs Foreclosure<span style="font-family: Arial, Helvetica, sans-serif;"><strong>I.</strong> Please understand that you have nothing to be ashamed about if you are facing a foreclosure. The economic downturn and market drop caught all of us by surprise. Exploring the decision to consider a short sale or foreclosure is the first step to getting your finances back on track.</span><br /><br /><span style="font-family: Arial, Helvetica, sans-serif;">Many people are at the point where they can no longer make their mortgage payments because due to circumstances; it has now risen to the point of being unaffordable. They may have lost a job, maybe the loan has adjusted to a higher interest rate…And to add insult to injury, the equity in the home has diminished because of a 50% drop value due to the housing market. These are just some of the reasons people are considering walking away from their homes. But what about the consequences of a foreclosure and the impact of this decision for years to come?</span><br /><br /><span style="font-family: Arial, Helvetica, sans-serif;"><strong>II.</strong> Consider some other alternatives. There are several governments programs created to help the homeowner faced with these decisions. They can contact their mortgage holder and try to do a work-out with them. This possibility exists but helps very few homeowners. Statistics have shown that in most cases, loan modifications seldom reduce the principle balance and offer short temporary relief.</span><br /><br /><span style="font-family: Arial, Helvetica, sans-serif;"><strong>III.</strong> If you decide to let your home go into foreclosure, you may want to try the Short Sale process first. 72% of all valley sales are due to Short Sales and Foreclosures. What does that mean? It means the lenders are working with many homeowners by cooperating in a short sale on their property. A short sale is where the lender is willing to allow a sale and accept less than what is owed to them. Why would they do this? In the long run, financially this is a sound decision because a short sale costs the lender less money than a foreclosure. So if you qualify for a short sale, this may be the step you take before you let your house go into foreclosure. The good news is the lender pays all the costs. NO COST TO YOU!</span><br /><br /><span style="font-family: Arial, Helvetica, sans-serif;"><strong>IV.</strong> With a short sale, you place your house on the market with an experienced real estate professional that specializes in short sales you will be required to provide the lenders with your financial situation and hardship. Your real estate professional will provide the lender with all the market condition documentation to support your properties value as well as communicate on a regular basis to affect the final short sale. The advantage to you is your credit is impacted less which allows you to buy your next home <em>much sooner</em>. Secondly, depending on your circumstances, the government allows debt cancellation tax advantages for a period of time, and you are relieved of this property. You move on with your life and can start over again. There are many desirable single family rental properties that you can rent in your neighborhood or school district to make the transition as easy as possible.</span><br /><br /><span style="font-family: Arial, Helvetica, sans-serif;"><strong>V.</strong> Should your property go into foreclosure, your credit will be negatively impacted more than a short sale and it takes much longer to establish a good credit rating and longer to be able to purchase a home again. We specialize in Short Sales and can be your resource. Please feel free to call with any questions or concerns. My goal is to provide you with the information to make decisions that are right for you and your family. </span><a href="http://colettecordnerrealestate.blogspot.com/2009/03/impact-on-your-credit-score-click.html"><span style="color: blue; font-family: Arial, Helvetica, sans-serif;">Click here to read about the impact on your credit score.</span></a><br /><br /><strong><span style="font-family: Arial, Helvetica, sans-serif;">Please note that this is very general information and may not apply to your circumstances. I strongly recommend that you seek the counsel of an attorney and CPA. I will provide you a list of 3 attorneys and CPA's to choose from.</span></strong>Adamhttp://www.blogger.com/profile/16640277278564508828noreply@blogger.com