“World's Most Complete Neighborpedia”
Explore:   What's happening in your neck of the woods?

Greenwood, IN

New Expanded Tax Credit Helps Indiana Move Up Buyers

Tonda & Steve Hoagland Greenwood IN Real Estate: Real Estate Agent in Greenwood, IN

New Expanded Tax Credit Helps Indiana Move Up Buyers

Tax Forms

On November 6, 2009 President Obama signed a bill to both Extend and Expand the Home Buyer Tax Credit. Not only will it be available until Spring of 2010 for First Time Buyers, but it now also includes credits for current homeowners who sell their existing residence and purchase a new one prior to April 30, 2010. So who qualifies and what are the details?

Here are some of the highlights:

Expanded Tax Credit Table

How do you apply for the tax credit? You can claim the tax credit on your federal income tax return. Understand, this is a dollar-for-dollar credit, not a tax deduction. If the credit exceeds your tax liability, you will receive a refund. If you've already filed your taxes, you won't need to wait until the following year -- simply file an amendment. We've seen buyers receive the tax credit as soon as 30 days after filing the amendment. This will help offset some of the closing fees or equity shortages for existing homeowners in today's market. In addition, you will be purchasing a new home at a great price for an interest rate still hovering around 5%.

To help clarify some of the details, we've included answers to a few commonly asked questions. For additional questions/answers and examples please visit our website.

  1. For the Existing homeonwer credit, must the new house cost more than the old house? No. For example individuals who move from a high cost area to a lower cost area, who meet all eligibility requirements will qualify for the $6500 credit.
  2. I am an existing homeowner. On October 25, 2009 I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. We are closing on November 20. Will I qualify for the new $6500 tax credit? Yes. The existing homeowner credit goes into effect for purchses as of November 6, 2009.
  3. I am a first time homebuyer but was not within the prior income limits at the time I entered into my contract to purchase on October 30, 2009. If the new rules were signed into effect prior to my closing, will I be eligible for a credit? Yes. The new income limitations are in effect as of the date the bill was signed, November 6. The income limit and other eligibility rules will look to your status as of the date of purchase, which is the closing date. So if you close after November 6, you should be eligible for the credit (or a portion of the credit if you're within the phase-out range).

- What if you sold your house months ago, but haven't yet bought a new one? Do you qualify?

- What if you've been renting your home and now sell it? Do you qualify?

- What if you meet the requirements, but your new spouse doesn't? Do you qualify?

Visit our website for answers to these questions and more information!

Originally posted by Steve and Tonda Hoagland on Active Rain Blog
All information deemed reliable but not guaranteed. Please contact a tax account for your specific situation.

Make your Greenwood IN Short Sale go Smoother!

Heather Fitzgerald, REALTOR Greenwood Indiana Real Estate: Real Estate Sales Person in Greenwood, IN

Make your Greenwood IN Short Sale go Smoother!

We are at that time of year where if you have vacated your property and you have it listed with your agent, Greenwood Short Sale or not, if it is vacant, you should talk to your Real Estate Agent about winterizing your property. The last thing that you want is to have a buyer make an offer on your short sale, the bank accept your offer, only to have pipes burst due to lack of heat/activity, and end up with repairs that make your offer impossible to work out.

Ask your agent if they know of a plumber who can cut a break on getting your property winterized. Make sure they are an experienced plumber!

About the Author: The above info regarding Make your Greenwood IN Short Sale go Smoother was provided by: Heather Fitzgerald, who has over 15 years of experience in real estate, title insurance, and lending that can be put to work for you. Heather can be reached by phone at 317-885-8858. Thinking of selling your home or buying your next home? We can help you with this. I service the following areas: Greenwood IN, Indianapolis IN, Franklin IN, Whiteland IN, Mooresville IN, Martinsville IN, Avon IN, Carmel IN, Westfield IN and surrounding areas. Check more properties at no obligation:

www.SmithFitzgeraldTeam.com

Copyright © 2009 By Heather Fitzgerald-Make your Greenwood IN Short Sale go Smoother. All Rights Reserved.

Homes for Sale in Center Grove - 507 Green Valley Dr, Greenwood IN

Tonda & Steve Hoagland Greenwood IN Real Estate: Real Estate Agent in Greenwood, IN

 

Homes for Sale in Center Grove - 507 Green Valley Dr, Greenwood IN

 

Homes for Sale in Center Grove

Tired of cookie cutter neighborhoods and tiny yards? Take a look at this 1432 sf brick ranch in Greenwood -- popular Center Grove Schools too!

Gleaming hardwood floors in living room, hall & all 3 bedrooms have been professionally restored to their original beauty. A newer furnace, AC & hot water heater mean less maintenance for the new owner. Nice updates include new vanity & fixtures in the half bath (there is room to add a shower and convert this to a second full bath) and new sink and fixtures in the full bath.

The seller is leaving all of the appliances, including the washer and dryer.  You’ll enjoy the nearly ½ acre property featuring mature trees & fenced backyard. The location is conveniently close to shopping - 5 minutes from the Greenwood Park Mall - restaurants and less than ½ an hour commute to downtown Indianapolis. Greenwood city water & sewer. Property taxes are incredibly low -- only $298 per half - great for the budget!



507 Green Valley Half Bath

507 Green Valley Living Room

507 Green Valley Family Room

 

 

 

 

 

 

 

 

 

 


View Larger Map

Search for other Center Grove Properties

 

Originally Posted by Steve and Tonda Hoagland, Active Rain Blog 11/2/2009

(Information deemed reliable, but not guaranteed)

 

Local Indiana Guy is a Winner! .....We just had to share this!

Tonda & Steve Hoagland Greenwood IN Real Estate: Real Estate Agent in Greenwood, IN

Local Indiana guy is a Winner!....We just had to share this!

Recently we sent out our October e-newsletter and as usual, we included a trivia question with an opportunity to win movie tickets.

October Trivia Question

Well, this issue's winner was Tony Westmoreland, (the answer will be revealed in the next newsletter) but the story doesn't end there....

The following morning Steve's reading the Indianapolis Star and notices an article about a local guy appearing on "Who Wants to be a Millionaire?" - It's none other than Tony Westmoreland! This guy gets around in the "trivia" circles!

Tony Westmoreland


The program aired a few days later and we wanted to share the news - after all, we think winning the movie tickets was just the start to his "lucky streak"!

Tony did an excellent job and walked away with a check for $50,000 and the opportunity to qualify for the upcoming Tournament of Ten.

Who wants to be a millionaire tournament of ten


Congratulations Tony and best wishes in the Tournament of Ten Championship!


Home for Sale in Greenwood Indiana - Wakefield - 421 Governors Lane

Tonda & Steve Hoagland Greenwood IN Real Estate: Real Estate Agent in Greenwood, IN

Front Ext 421 GovernorsHome For Sale in Greenwood Indiana - Wakefield - 421 Governors Lane

Enjoy this fabulous 2 story in popular Wakefield featuring spacious great room with gas log fireplace. Open kitchen with large breakfast nook, center island and formal dining room are perfect for entertaining. Main floor den off of the entry foyer -- great place for your home office or family computer room.

Master suite features cathedral ceilings, plant shelf, whirlpool tub, separate shower and double vanity. Bedrooms 2 and 3 are oversized with nice walk in closets. 4th bedroom is enormous 20 X 16 with high ceilings and double closets. Excellent area for rec room, exercise area, etc. Relax or visit with neighbors on the front porch or back patio overlooking the shimmering lake. Home has 3 car carage and 1 year home warranty. Possession at closing too!

Search For Other Great Center Grove Homes

 

 

 

Search for other Center Grove Properties

Originally posted by Steve and Tonda Hoagland on Active Rain Blog with permission of John Breck - listing broker.