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First-time homebuyers...are you ready?? With the signing of the economic stimulus legislation (officially known as
the American Recovery and Reinvestment Act) by President Obama, if you are considering buying your first home in 2009, you have just received a nice bonus! Here is my understanding of the main things you need to know about the first time homebuyer tax credit:
1. Applies to homes purchased on or after Jan. 1, 2009 and before Dec. 1, 2009.
2. Credit amount = 10% of the purchase price or $8000, whichever is less.
3. Must be a first-time homebuyer (defined as not having owned a principal residence in the previous 3 yrs.)
4. Applies to any single family residence that will be used as a principal residence.
5. Full amount of credit available for individuals with modified adjusted gross income of no more than $75,000 or $150,000 if married and filing joint return. The credit will phase out at higher income levels.
6. There is no repayment required unless the home is sold within 3 yrs. of the purchase, then the entire amount must be repaid.
7. The credit reduces (or can eliminate) your income tax liability. Any unused amount will be refunded to you.
This is great news for first-time buyers who might be considering homes for sale in Florence, AL! I would be glad to help you find that home, but I am not a tax professional or a CPA...so if you have any questions on how this might affect your taxes, please contact your tax advisor!
Deidre Berry ~ Florence, AL Realtor
The search for Florence AL homes for sale starts HERE!
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"Low Rates Boost Housing", a recent article in the Florence, AL local newspaper, the Times Daily, noted that it's a perfect time for for buyers to buy and for sellers to sell...at least in our area. If you can buy right now, the interest rates are great! If you are thinking about selling, don't wait. The homes in the Shoals area are NOT declining in market value. As long as the property is priced right, it should sell.
Deidre Berry ~ Florence, AL Realtor
The search for Florence AL homes for sale starts HERE!
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Now that we are a couple of weeks into the New Year, how are you doing on your New Year's resolutions?
We all have probably made them and possibly have already broken some. I usually only think of my own resolutions, but I just read this article from RISMedia that suggests a few great resolutions for buyers and sellers. The author, Robert Jenson, CEO of The Jenson Group located in Las Vegas states: "While tricks of the trade abound to give buyers and sellers a leg up on the competition, there are also a number of basic pitfalls buyers and sellers should be sure to avoid lest they commence their real estate venture on shaky ground."
With this in mind, Jenson offers these New Year's Real Estate Resolutions to help buyers and sellers avoid common blunders and get the deal done: (Read more...)
Deidre Berry ~ Florence, AL Realtor
Email: deidre@HomesOfTheShoals.com
Web: http://HomesOfTheShoals.com
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It almost felt spring-like today in Florence, Alabama! I know I shouldn't even be complaining about our cold temperatures here because they don't even compare to those in the North. But it's all relative, right? We were at 7 degrees one morning last week...brrrr!!!! This time of year would normally average somewhere in the 30's. For those that think it never gets cold in the South, think again :)
This picture shows what my husband called "frozen fog" on our crepe myrtle tree. He may be pulling my leg...I've never heard of it (have you?), but I thought it looked really neat!
Deidre Berry ~ Florence, AL Realtor
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Here are a few of the sights you might see around Florence, AL and the Shoals area during the Christmas season. I know there are many more...so email me if you want to be included next year!
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Wishing everyone a very Merry Christmas and especially good will, peace,
and many blessings for the New Year!
Deidre Berry
Email: deidre@HomesOfTheShoals.com
Web: http://HomesOfTheShoals.com
The search for Florence, AL homes for sale starts HERE!
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