Posts Tagged ‘ first time buyer ’

Home Buyer Tax Credit Extended and Expanded

Last Friday (November 6), President Obama signed legislation into law that both extended the existing $8,000 first time home buyer tax credit and added a new tax credit for some existing home buyers.

extension-ladder-home-tax-creditHere is a summary of the extended and expanded tax credits:

First time buyer tax credit:

This was extended to May 1, 2010:  A tax credit of 10% of the purchase price of a home, up to $8,000, may be claimed by first-time buyers for the purchase of a primary residence. As long as you are under a binding purchase contract by April 30, 2010 – and close on the transaction before July 1, you can probably claim the credit.

A first-time buyer is defined as someone who has not owned a home in the past three years.

Income limits were increased to $125,000 for singles, $225,000 for married couples filing jointly.

The purchase price of the home can not exceed $800,000.

Existing home owner credit:

If you have lived in your home for five consecutive years out of the last eight years and are buying another primary residence, you may qualify for a tax credit of 10% of the purchase price, up to a maximum of $6,500.

The May 1 / July first time limits apply to the existing buyer credit as well.

The $125,000 / $225,000 income limits and $800,000 max purchase price limits also apply.

The existing home owner credit became effective “on the date of enactment” – November 6.

Of Note: Continue reading this post


Posted by: Jay Thompson on November 10th, 2009 under Buying or Selling a Home, Financing, Mortgage and Home Loans


Change the Meaning, Change the Outcome

Hi Everyone! I hope you all had a great holiday season and are on your way to success in 2009. 

I have been working on a lot of new stuff lately and new training programs for The eHomes Realty Network.  Most of what I teach are things that I have learned through my business at Tropical Realty or from books or seminars. 

This past December I had the opportunity to go to see Tony Robbins perform his miracles.  He was truly amazing and I took so much away from his teachings.

So much of what he says relates to our business. 




Here are a few points:

Change the Meaning and Change the Outcome

I’ve learned so many things in my life and never realized how simple something is to change and implement.  As easy as this sounds is as easy as it is.  Here is the deal.  Right now almost every real estate agent I deal with around the country is complaining about how bad the Real Estate market is right now.  I hear the same story from everyone. ” I have 25 home listings and they are not selling.  The home sellers are yelling at me and blaming me because their home is overpriced”.  Everyone is talking about this terrible Real Estate market. 

What if you took a second and looked at it differently?  Firstly, if you are a seller it’s a tough market…no question.  Believe me, our office is in Melbourne, Florida, one of the worst hit in the country.  What if you looked at our business from the buying side? Continue reading this post


Posted by: Mitch Ribak on January 21st, 2009 under Motivation


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