Colorado Springs, CO

Some Questions on Expansion of Home Buyer Tax Credit Answered

11-07-09

Michael Gordon: Loan Officer in Colorado Springs, CO

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Office: (719) 548-5159

As more details of the extension and expansion of the Home Buyer Tax Credit were released, some of the questions from my blog two days ago have been answered.

It appears that the term "existing home owners" does not mean you have to currently own a home. If you owned a home and occupied it as your primary residence for five consecutive years within the past eight years, you would be eligible if you meet the other requirements for the tax credit.

There are some good details at the following links, which is from the National Association of Realtors, Realtor Action Center.

http://www.realtoractioncenter.com/realtor-party/documents/2009-NAR-Issue-Brief-Homebuyer-Tax-Credit-Changes-1104-1107.pdf

http://www.realtoractioncenter.com/realtor-party/documents/2009-NAR-FAQ-Tax-Credit-Changes-1105-1236.pdf

As a Colorado Springs Mortgage Lender, I strive to stay informed of the latest changes in the industry in order to provide sound advice to those whom I have the opportunity to serve during the purchase of their home.

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Colorado Springs Foreclosurse - East Colorado Springs as of 11-6-09

11-07-09

Colorado Springs Real Estate Blog - Kathy Torline - Nordstrom

view my blog
Office: (719) 575-1183

Mobile: (719) 287-1049
Secondary: (303) 681-3582

Market information for Active and Foreclosure Homes in East Colorado Springs As of 11-6-09

For a FREE list of Foreclosure Homes, Email KTorline@msn.com

Neighborhoods: Homes in Sundown, University Heights, Rustic Hills, Northridge, Village Seven

Breakdown of homes for sale, INCLUDING FORECLOSURES: 351

Short sales: 25 (7.1%)
Bank-owned: 11 (3.1%)
VA Owned: 1 (.3%)
Regular: 314 (89.5%)

Active Homes for Sale: 351

Single Family Homes: 250 (71%)
Condos/Townhomes/Patio Homes: 101 (29%)

Address	PT	Br/Ba/G	FLR	YB	Fin SQ	Tot SQ	LP	CDOM
2440 Palmer Park BL 107	CND	1,1,0	RAN	1982	512	512	$52,000	18
4867 Bluestem DR	TOW	2,2,1	2	1981	1,010	1,010	$85,000	23
2462 Blazek LP	TOW	2,2,1	2	1984	1,140	1,439	$100,000	106
2322 N Union BL	SIF	3,1,1	RAN	1954	1,226	2,023	$107,900	36
4105 Sunny Vista HT	TOW	3,2,2	2	2000	1,810	1,810	$164,900	67
2111 Tesla DR	SIF	3,3,1	RAN	1967	2,756	2,864	$173,900	3
6060 Whetstone DR	SIF	5,4,2	2	1998	3,186	3,306	$185,000	2
2519 Sturgis RD	SIF	4,3,2	RAN	1960	3,004	3,040	$185,900	250
5070 Willowbrook RD	SIF	3,3,2	4	1984	2,291	2,305	$202,900	64
5032 Harvest DR	SIF	4,4,2	4	1983	2,281	2,281	$206,000	32
5267 Fossil Butte DR	SIF	5,4,2	2	2007	3,075	3,127	$299,900	22

This Colorado Springs Real Estate report contains information on homes in East Colorado Springs.

This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.

Remember, Knowledge is Power

A Colorado Springs Real Estate Agent You Can Trust

Selling HOMES in El Paso & Douglas County; including Colorado Springs, Monument, Fountain, Larkspur, Pueblo, Castle Rock, Manitou Springs, Woodland Park, Palmer Lake

www.Kathytorline.com & www.ColoradoSpringsVintageHomes.com

Colorado Springs Real Estate

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Colorado Springs Foreclosures -- Listings in Old Colorado City as of 11--6-09

11-07-09

Colorado Springs Real Estate Blog - Kathy Torline - Nordstrom

view my blog
Office: (719) 575-1183

Mobile: (719) 287-1049
Secondary: (303) 681-3582

Homes in Colorado Springs -

Market information for Active and Foreclosure Homes in Old Colorado City As of 11-4-09

For a FREE list of Foreclosure Homes, Email KTorline@msn.com

Breakdown of homes for sale, INCLUDING FORECLOSURES: 191

Short sales: 9 (4.7%)
Bank-owned: 5 (2.6%)
Normal: 177 (92.7%)

Active homes for sale: 191

Single Family Homes: 126 (66%)
Condos/Townhomes/Patio Homes: 65 (34%)

Partial list of Foreclosed homes currently on the market

#	MLS#	Area	BSA	Address	PT	Br/Ba/G	FLR	YB	Fin SQ	Tot SQ	LP	CDOM
1	666944	OCC	WES	2507 Kiowa	SIF	2,1,0	RAN	1904	997	1,050	$54,450	8
2	511859	CEN	OCC	607 N Wahsatch AV	SIF	2,1,0	RAN	1890	1,035	1,244	$154,900	98
3	546757	WES	OCC	402 Pleasant ST	SIF	3,2,2	RAN	1951	1,318	2,198	$163,700	43
4	557074	OCC	WES	1351 Mirrillion HT	TOW	2,3,2	2	2008	1,840	2,484	$299,900	515
5	500172	OCC	WES	1347 Mirrillion HT	TOW	3,4,2	2	2008	2,484	2,484	$330,000	744

Colorado Springs Real Estate report contains information on homes in Old Colorado City:

This information is taken from the Pikes Peak Realtor Services Corp and is deemed reliable but not guaranteed.

Remember, Knowledge is Power

A Colorado Springs Real Estate Agent You Can Trust

Selling HOMES in El Paso & Douglas County; including Colorado Springs, Monument, Fountain, Larkspur, Pueblo, Castle Rock, Manitou Springs, Woodland Park, Palmer Lake

www.Kathytorline.com & www.ColoradoSpringsVintageHomes.com

Colorado Springs Real Estate

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Home Buyer Tax Credit Extended & Upgraded!

11-06-09

Tanya Stevenson-Becht

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Office: (719) 548-9900

Mobile: (719) 963-6582

It is official the Home Buyer Tax Credit has been extended! Not only has it been extended, but it has also has been re-written to include current home owners who have owned a home for 5 of the past 8 years ! If ever there was a time to buy a new home, its now! Here is a short summary of the changes (or in reality the "upgrades") for the tax credit that was signed November 6, 2009.

Summary of the "upgrades":

à The expiration date for the credit will now be April 30, 2010.

à First-time buyers who have not had interest in a principal residence for three years are still eligible, and the maximum amount remains the same $8,000 for married couples, $4,000 for those filing separately. (That's still less than 6 months away!)

à Current homeowners, who have consecutively maintained the home they want to sell as their primary residence for five of the last eight years, are also eligible. However, the maximum amount for those homeowners is lower: $6,500 for married couples and $3,200 for those filing separately. (This is the best upgrade of them all! Now a much larger population will be able to take advantage of this amazing opportunity. Who couldn’t use an extra $6,500)

à The tax credit may not used to purchase a home for more than $800,000. All buyers who want to get the credit must include documentation of the purchase on their tax returns.

à The income limits for both tax credits have been raised to $125,000 for single buyers and $225,000 for married couples.

The National Association of Realtors has posted a very thorough and informative article on the Home Buyer Tax Credit. To read about it Click Here!

Click Here To View a Video On The New Tax Credit!

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

1 Comment

Home Buyer Tax Credit Extended & Upgraded!

11-06-09

Tanya Stevenson-Becht

view my blog
Office: (719) 548-9900

Mobile: (719) 963-6582

Summary of the "upgrades":

à The expiration date for the credit will now be April 30, 2010.

à The tax credit may not used to purchase a home for more than $800,000. All buyers who want to get the credit must include documentation of the purchase on their tax returns.

à The income limits for both tax credits have been raised to $125,000 for single buyers and $225,000 for married couples.

The National Association of Realtors has posted a very thorough and informative article on the Home Buyer Tax Credit. To read about it Click Here!

Click Here To View a Video On The New Tax Credit!

Park Avenue Properties

Tanya Stevenson-Becht & Sandy Daniels

www.ColoradoSpringsEhomes.com

office@parkavehomes.net

0 Comments