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Let's Go House Shopping!!

TAX CREDIT FOR HOME BUYERS
First-Time Home buyers (FTHBs): First-time home buyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.
Current Owners: The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.
WHAT ARE THE NEW DEADLINES?
In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.
HIGHER INCOME CAPS
The amount of income someone can earn and qualify for the full amount of the credit has been increased. Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.
Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.
OTHER NOTABLE POINTS
• Qualifying buyers may purchase a property with a maximum sale price of $800,000.
• A tax credit is just that... a tax credit. The benefit of a tax credit is that it's a dollar-for-dollar tax reduction, rather than a reduction in a tax liability. So, if a first time home buyer were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.
• Better still, the tax credit is refundable, which means the home buyer can receive a check for the credit if he or she has little income tax liability. For example, if a first-time home buyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000.
You are Informed, what do you do now?!?!
First-Time Home buyers...Have Fun House Shopping!!
Current Owners, research the Home Stagers in your area. Get your house ready to sell, make it a "Buyer's Desire". Then contact a Realtor and you are ready to sell. Staging Works!! Before you know it you will be having fun House Shopping!
Dayton's Largest Full-Service Home Staging Firm, serving greater Dayton and Cincinnati since 2004
Make your Home a Buyer's Desire
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So if this news doesn't make you want to go out and buy a new house I am not sure what will!

TAX CREDIT FOR HOME BUYERS
First-Time Home buyers (FTHBs): First-time home buyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.
Current Owners: The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.
WHAT ARE THE NEW DEADLINES?
In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.
HIGHER INCOME CAPS
The amount of income someone can earn and qualify for the full amount of the credit has been increased. Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.
Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.
OTHER NOTABLE POINTS
• Qualifying buyers may purchase a property with a maximum sale price of $800,000.
• A tax credit is just that... a tax credit. The benefit of a tax credit is that it's a dollar-for-dollar tax reduction, rather than a reduction in a tax liability. So, if a first time home buyer were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.
• Better still, the tax credit is refundable, which means the home buyer can receive a check for the credit if he or she has little income tax liability. For example, if a first-time home buyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000.
You are Informed, what do you do now?!?!
First-Time Home buyers...Have Fun House Shopping!!
Current Owners, research the Home Stagers in your area. Get your house ready to sell, make it a "Buyer's Desire". Then contact a Realtor and you are ready to sell. Staging Works!! Before you know it you will be having fun House Shopping!
Dayton's Largest Full-Service Home Staging Firm, serving greater Dayton and Cincinnati since 2004
Make your Home a Buyer's Desire
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"is your house Dressed to Market?"
Even though the market is slowly turning in the "right direction", it still has a LONG way to go. Sellers are having a hard time getting enough money out of their home. This is nothing new, we all know of this problem but some of us don't know how to deal with it when selling your house.
It does not have to cost a lot of money to take measures to make your property more valuable, more desirable. Bottom line, when you decide to sell your house your next decision should be what are my steps to take to prepare it for the market. Your goal should be to dress your house to make people fall in love with it.
There are 3 things that you must consider when selling your house:
1. Product, how does your house present itself, is it "Dressed to Market"?
2. Price, is your house at the right price point for the neighborhood, current condition?
3. Presentation, is your Realtor marketing your house to its full potential?
Curb Appeal, does your property have it?
First impressions are critical. If the outside of your house doesn't look nice, then some buyers might be tempted to drive right on by. Buyers are likely to jump in their car and just drive through neighborhoods that they can see themselves moving to. If the exterior of a house looks horrible, they will be less likely to contact their Realtor and ask to see the house.
Do not have things outside that shouldn't be outside. Keep trash barrels out of sight. Be sure that your mailbox is clean, not rusted. The yard should be trimmed on a regular basis and keep shrubs looking neat. Too much landscaping can be a bad thing. Thin it out if need be. Weeds, really...no way.
Front doors say a lot. Put a fresh coat of paint or stain on it. Change the color to change the look of your porch. Put some flowers or something for the current season on the porch to make it seem inviting.
Clutter, clear it!
While you love your personal photos hanging on the wall or sitting out on furniture, the buyer does not. I am guilty myself. I have several photos of my family all over my home. But when you are getting ready to sell, get rid of anything that says that it is your house. So not only do you want to put away those photos but also anything else that is personal, i.e. diplomas, souvenirs, trophies, etc.
Don't have furniture blocking flow in a room or making the room appear to be too small. Get rid of unneeded furniture.
Other small changes can also make a big difference. Paint color & minor flaws are easy fixes that can make a big difference. Just by changing the wall color you can freshen up the look of a room. Do you have dirty baseboards, caulking that needs re-done, or drywall blemishes? All of these things can appear to be major by looking at them, fortunately, they are not hard to fix.
Is your house naked?
Please don't show it naked. If there isn't furniture in a house then there is not much for the buyers' eyes to stop and look at. Vacant house showings are much quicker than a fully furnished house. If a builder is selling a new market home, they have them fully furnished and looking very cozy and live-able. There is a reason for that.
Consult a home stager to work with you to provide the furnishings at a monthly rental price. Give the buyers something to look at.
Stinky houses don't sell
Does your house pass the smell test? Unfortunately, as much as your pet is a beloved part of the family he/she may leave a lingering odor that non-pet owners do not appreciate and therefore your buyer pool is reduced even more.
Do you love to cook with garlic? Many food odors can linger in the air as well as smoke. Try and refrain from smoking in the house while it is on the market. Keep the garbage empty and occasionally grind up an orange peel in your garbage disposal to keep it smelling nice.
You can easily purchase a coffee mug warmer and warm scented oil or scented tart in a glass bowl to infuse a pleasant smell throughout the house. Be careful on the scent that you choose. Do not let it overwhelm the space.
Who is marketing your house?
There are so many Realtors out there, how do you choose? The old fashioned way still works great. Ask all of your family, friends, neighbors...who do they recommend? You could also turn to the Internet. There are so many avenues to get into contact with a Realtor online. Or, if you plan to do it yourself, there are companies like ForSaleByOwner that will give you the tools to do so.
This is a lot to think about but so is selling your house. Why not take some time and prepare it for market in order to make the most money in the process.
GOOD LUCK! make it fun!
"is your house Dressed to Market?"
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Making sure your presentation justifies the price!
A quick tip for staging your home!
Market View Point: what the buyer sees first.
Selling Feature: the feature that makes the room uniquely desirable
Be sure the buyer sees what will best sell the room in the best possible presentation!
In this room, the Market View Point AND the Selling Feature is the fireplace and surrounding windows. However, when everything was white, the fireplace was quite small in appearance, painting the walls enhanced the windows and elongated the fireplace drawing a desirable selling feature to the forefront!
Before Staging After Staging
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The September Market Report in Ohio for single family, residential homes in Montgomery and Greene counties (near Wright Patterson Air Force Base) shows the average monthly sales price continues to rise, proof that it has been 4 months since rock bottom. The average sale price / listing price percentage remained at 96%, which is 2% less than the Real Living Realty average. Although prices are increasing, it is not a huge market gain which still makes Southwest Ohio a great place to invest.
SEPTEMBER 2009
SEPTEMBER 2008
SEPTEMBER 2007
Christina Asad Edwards, REALTOR
Christina.Asad@RealLiving.com
www.TeamEdwards.info www.DaytonOhioHouse.com
mobile or text 937-205-4741 office 937-573-0082
Real Living Realty - #1 in OHIO!
Realty, Mortgage, Title, Relocation
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