Take advantage of the Tax credit extension!

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Learn more about home buyer tax credit.

Tax credit information

Happy New Year and thanks for visiting! There will shortly be detailed information posted on the tax credit so please stay tuned.

Congress Passes Tax Credit Extension

 Are you thinking of purchasing a home in the next few months?  If you are shopping for a primary residence, less than $800,000, chances are you will qualify for the current Federal Tax Credit.  Here is an overview:

The $8,000 First Time Home Buyer Tax Credit is for first time home buyers only (defined as someone who has not owned a principal residence during the 3 year period prior to the purchase).  It does not have to be repaid and is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.  The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010.  If a binding contract is signed by April 30 and completed by June 30, 2010 it will also qualify.

The Repeat Home Buyer Tax Credit is for homeowners who have owned and lived in their previous home for 5 consecutive years out of the last 8 years.  The tax credit does not have to be repaid and is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.  The tax credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010.  In cases where a binding sales contract is signed by April 30, 2010 the home qualifies provided it is completed by June 30, 2010.

There are also rules for single buyers vs married couples.  If you would like more information, please let me know.  Happy house hunting!

Happy Thanksgiving and Thank you!

Thanks to all of you for continuing to spread good rumors about me! Enjoy this holiday season.

Its Freaky Friday and we are Multi-tasking

Often times, as many people do, I find myself doing many things at once — multi-tasking. This week, I noticed my 7 year old imitating her Mommy: playing her Leapster handheld game while brusing her teeth. Is that really efficiency? I’m not sure.  Oh well, have a great weekend!

Camp Hill Borough Update

I am happy to report that the Camp Hill Borough Council has once again postponed moving forward with the sidewalk and sewer ordinances that would require inspections and repairs prior to the settlement of a home. I expect the Council will vote to advertise these ordinances at the October meeting, which means the vote to pass will then be at the November meeting.  If these were to come to a vote today, I expect the ordinances would pass by a count of 4-3.  I encourage Camp Hill Borough residents to attend the October 7 meeting and express their opionions!  If these ordinances are passed, they will place a burden on any homeowner wanting to sell their property in the Borough of Camp Hill.  For more information and to sign the petition, go to  www.PlayFairCampHill.org.

Latest information on Central PA foreclosures, $8000 tax credit, ranking

Here is an update by Doug Rebert, a Principal in my company, Prudential Homesale Services Group, when being interviewed by local Fox News.

“Mom, we can’t lose to the 40-91 Nationals”,

spoken by my 10 year old son.  Now, I have been a Phillies fan all my life.  This means I know how to remain loyal to my team, even when they lose. In my lifetime,  there have been many more losing games and seasons than winning games and seasons.

My son said this at the beginning of the game on Tuesday, just after the Phillies came off a 4 game losing streak against Houston.  I think maybe he was a little worried going into this series.

Fast forward to today and the Phillies proved there was little reason to be worried.   With MULTIPLE back to back homeruns AND a Matt Stairs grandslam during the series (are you kidding???  MULTIPLE back to back homeruns AND a grandslam in ONE SERIES?  I think I saw back to back homeruns ONCE during my entire childhood — I was fortunate enough to have been on my Dad’s shoulders at Vet stadium when it happened, sitting right behind 1st base — Schmidt hit one and Luzinski hit the next.  And he sees a grandslam to boot??  I digress…).  While it would have been awesome for the Phillies to have won last night, they managed to beat the Nationals 2 games to 1 this series.  My little guy will learn soon enough about loyalty and rooting for your team even when they have a losing record, but not this week!  It sure is FUN when they win.  The Phils are in 1st place, up by 5 games.

What does this have to do with Real Estate in Central Pennsylvania? Absolutely nothing.  Or maybe it does.  Hummm…  Have a good weekend.

Tax Credit Deadline Approaching Fast

If you are thinking about purchasing a home for the first time, you might want to consider buying sooner rather than later.  As it stands, November 30 is the date that the $8,000 tax credit ends. I understand that there is a bill introduced in the U.S. House of Representatives that would raise the tax credit to $15,000. It would also extend to everyone not just first time home buyers. Wow, if this would pass, what a positive for the Central Pennsylvania real estate market!  In the meantime, if you or someone you know has a question about the tax credit or would like to start looking at homes, please feel free to contact me by phone or email.

Terrible Market We are Having

Really?  The Harrisburg regional office of Homesale Settlement conducted somewhere around 80 settlements in June. 80! Is that a lot?  In a good month, they conduct somewhere around 40. Yes, there have been changes in the market lately making transactions more challenging.  Yes, our economy is struggling.  BUT, here in Central Pennsylvania, homes are selling. Why? There are a few reasons: high supply resulting in many choices, low interest rates, $8000 first time home buyer credit. (Incidentally, if you are thinking about buying, the home buyer credit goes away December 1).  One of the complaints I and other agents have is that it is hard to get accurate local real estate information.  Stories seem to be spun toward the negative, resulting in an inaccurate local picture.  Pennsylvania is 40th in the nation for foreclosures.  Surprised our state isn’t higher on the list?  Relatively speaking we are experiencing more of a normal envoirnment than an unstable one.  And there are signs we might be coming out of this…check out the latest series real estate series the local Fox News has been doing:   www. youtuble.com/PruHSG.  To help you follow the local market news, each time there is a new segment, it will be posted on YouTube.  The good news is out there, unfortunately, it isn’t always on the top fold.