Posts from February 2011
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25
First-Time Homebuyer Tax Credit Repayment
There have been lots of questions about the 2008 First-Time Homebuyer Tax Credit, so Ruhl&Ruhl put together this information to help. As always, please talk to your tax advisor with questions that are specific to you or your family. Before addressing repayment a brief look at the history of the homebuyer tax credit: The original tax credit established in July of 2008 was for a maximum of $7,500 for qualified first-time homebuyers who purchased a principal residence after April 8, 2008 and before January 1, 2009 (originally before July 1, 2009 prior to modification). In February of 2009 the maximum amount of the tax credit was increased to $8,000 for qualified buyers effective for purchases after December 31, 2008 and before December 1, 2009. In November of 2009 the date for qualifying purchases was extended to before...
18
Selling Your House? 5 Reasons To Do It NOW!
The conventional wisdom when selling a home has always been to wait until the 'Spring Buying Season'. Over the years, that has seemed to make sense and is now accepted as a good strategy for those who want to sell their house and receive the best possible price. This real estate market has shattered many previously held beliefs. The wisdom of waiting for a spring market is another belief that is about to fall. Here are five reasons why?
1.) Interest Rates Are On the Rise
Interest rates have spiked up rather dramatically over the last n...
3
Does It Make Sense To Buy a Home?
The financial turmoil we have experienced over the last five years has definitely taken it's toll. It has especially been a difficult time for real estate. Nationally, values have fallen over 25% and there may be more softening in prices to come. We realize that this has caused difficulty, and in some cases, heartbreak for many families. People unable to make their mortgage payments have been forced to sell or, even worse, have faced foreclosure. However, the thing that has continued to amaze us is the country's steadfast belief in the benefits of homeownership even in these most difficult of times. The vast majority of Americans still realize that the value of a family owning a home goes far beyond just the financial considerat...
1
Where Are Housing Prices Headed?
The National Association of Realtors (NAR) has been reporting great news recently. Last week's Existing Home Sales Report and this week's Pending Sales Report both showed consecutive months of increases in the number of homes sold. Finally, buyers are jumping off the fence and taking advantage of one of the most opportune times to purchase a home in America's real estate history. With an increase in demand, price appreciation can't be far behind, can it? Actually, the answer is NO! Prices are not determined by demand alone but in the relationship of demand to available supply. The inventory of homes for sale is still too high and about to surge higher. Along with the news of increased demand yesterday, RealtyTrac released their 2010 Year-End Metropolitan Foreclosure Market Report. The report showed that distressed properties across the country are on the rise: … foreclosure levels remained five to...
1
Trending Up in 2011
Ours Are Among the Best Housing Markets in the Country! Housing Predictor, an independent real estate research firm, just released their ranking of 234 real estate markets in the country. The ranking was based on projected appreciation in local home values for 2011. And our markets top the list: Best 25 Housing Markets 2011 Forecasted Rank City Appreciation for 2011 1 Portland, ME 3.6% 7 Iowa City, IA 3.2% 22 Cedar Rapids, IA 2.6% 23 Des Moines, IA 2.6% 24 Davenport, IA 2.5% This forecast is consistent with the Federal Housing Finance Agency (FHFA) report. This ranking by appreciation also consistently rank...
