Aris Mendez REALTOR® Greenville SC Homes

First-Time Buyer Tax Credit: A Reason to Buy Now

The home ownership tax credit that the federal government created earlier this year is a great tool for first time home buyers and for all buyers that have not owned a home within the pass three years, it's a great opportunity to jump off the fence and get into the home you dream of.

When you take the tax credit, combine it with today's low interest rate and add the large selection of "For Sale Homes" inventory and low home prices, this is exactly what all home buyers need to buy now.

How the Tax Credit Works:

The First-time Home Buyer Tax Credit was passed and signed by president George Bush, as part of the Housing and Economic Recovery Act (H.R. 3221) on July 30, 2008 and targets any or all individuals that have not owned a home for at least three years or have never owned a home (first time home buyers).

The Economic Recovery package is up to $7,500 and it can be taken in a single tax year, taxpayers can take this credit on their 2008 tax return if they bought a home in 2008 after April 9th. All individuals or households that have interest in buying a home must do so prior to July of 2009, so if you are waiting to buy a home in the first six months of 2009, then you can take the credit on your 2009 tax return.

The actual credit amount is set as 10 percent of the total home purchase amount. So all qualify buyers as well as first time home buyers can get 10% of the home price credited against their tax liability, up to a maximum of $7,500.

For Example: If the home purchase is $100,000 and the credit amount is 10%= $10,000 Remember the maximum loan amount will be up to $7,500.

Income Limits:

• Individual: $75,000
• Households: $150,000
• Individuals: $75,000 - $95,000 receive the credit on a reduced basis
• Households: $150,000 - $170,000 receive the credit on a reduced basis

Any Home is Eligible as Long, That's A Primary Residence Home in The Greenville, SC Area or Any Other State Within The United States.

All Buyers Have 15 Years to Pay Back:

To help keep the program cost effective for taxpayers, the federal government requires the tax credit to be paid back in small, 6.67-percent increments over 15 years. For that reason, analysts have likened the credit to a 15-year, interest-free loan to help make home buying affordable.

There's one restriction on the type of financing that your customers can use if they plan to take the credit. That restriction is on tax-exempt mortgage financing. This only applies for buyers that are using below-market interest-rate financing from a public agency or nonprofit organization that's funding the loan using proceeds from a tax-exempt mortgage-revenue bond issue. For most buyers, this won't be a problem. It's mainly an issue for low-income buyers using special mortgage financing.

More Resources For My Clients:

Here is a great site to help clarify on the $7,500 tax credit for first time home buyers or individuals who have not bought within the past three years: http://www.federalhousingtaxcredit.com/faq.php

Here is the IRS web site and it provides more information for tax-credit guidance articles that provide answers to many of your frequently asked questions.

Our REALTOR.org site is another great resource full of information on this topic, more information on all aspects of the Economic Stimulus Bill passed July 30.

Buying or Selling? Up To $500 CASH REBATE!

"A Realtor® That Works For You"

Aris Mendez REALTOR®
Allen Tate Realtors
Cell: (864) 567-5114
Office/E-Fax: (864) 272-1922
Email: aris@ARMLCO.com
Visit My Web Site:
www.greenvilleURhome.com

How's the Real Estate Market in the Carolinas?
Click here to find out: www.allentate.com/forecast

View nearly 100,000 homes that are updated daily, go to: www.greenvilleURhome.com

Here are a few Great Web Sites That would give you Big shopping savings!

I came across some of this information doing some shopping on line and so I figure with the holidays just around the corner, I could compile some of this info together and share it with you and in the process help save you some money. I bring this information to you because I am a consumer as well just like you and realize that the tough times and the holidays fast coming, we all need to save a buck or two.

I understand and respect that and that's just the exact reason why I offer a $500 CASH REBATE on my Home Selling or Home Buying services. If there is anything I can help with, please use my contact information below.

Have a Stress Free and money saving shopping!

Buzzillions.com This 3 million consumer entry web site has everything from electronics to shoes. ShopSmart a magazines that brings you the scoop on great discount to buy, likes that this site offers a broad and changing list of keywords to click on for searching merchandise. Also you should sort your search by the lowest ratings first to get great consumer info on what not to buy.

Ebates.com After registering yourself on this site, you can shop online with over 900 retailers. After checking out, your account gets credited with a nice rebate from the site, which can be as high as 26%, although most are in the 1% to 4% range. I suggests clicking on the "Daily Double" tab, where rebates for one retailer are doubled each day.

Freeshipping.org Although, most of the specific stores have a minimum purchase amounts, you can choose a product category or a store to get information for free shipping offers.

Heyitsfree.net Ryan Eubanks started this blog, he searches the world wide web on a daily to find free offers. Your searches can be done by product category, or check out a long list of other freebie sites.

Pricegrabber.com There are numerous price comparison web search engines, but ShopSmart was fasinated by this one for its ability to calculate the total cost of items and including shipping fees & taxes.

Retailmenot.com Many sites gather and offer online coupons, but weeding through out dated and invalid codes takes to much time. I, from my experience stated that the codes on this site are reliable, and like the blogging section were consumers share their money-saving tips.

Shopittome.com This site is for the real shopaholic. After choosing from a list of clothing, shoe and accessory brands, entering your sizes and registering your e-mail address, you'll receive a daily or weekly e-newsletter about great sales you may be interested in. I'll recommend signing up to receive the e-mail on Fridays, when most online retailers mark down their clothing price.

"A Realtor® That Works For You"

Aris Mendez REALTOR®
Allen Tate Realtors
Cell: (864) 567-5114
Office/E-Fax: (864) 272-1922
Email: aris@ARMLCO.com
Visit My Web Site:
www.greenvilleURhome.com

How's the Real Estate Market in the Carolinas?
Click here to find out: www.allentate.com/forecast

View nearly 100,000 homes that are updated daily, go to: www.greenvilleURhome.com

Ready To Buy a Home? What You'll Need, To Get A Loan!

The lists below is to the information needed by all potential buyers inquiring into getting a loan in today market. I believe that most people that are ready to purchase a home in the Greenville, SC market area want to be prepared with all the information required by any lender, all the requirements are pretty much the same. When you walk into your lender's office to get approved, they will be static, about how on point you are with all requirements and credential needed. I recommend that you get a full loan approval subject to finding a Greenville, SC Home, instead of a "pre-qualified" get a "pre-approval" letter. This means that you'll need to be prepared to provide the lender with all the paper work needed to help them give you a full approval, which in fact will save you time and one step closer to your dream of owning a home (click on the links above and then on Mortgage Guide for mortgage details).

Prior to arriving to your lender's office be prepared to have the following in hand:

* W-2 forms, copies of personal tax return forms for the last two or if self-employed business tax return statements for two years.

* Copies of the three most recent pay stubs.

* Account numbers your credit cards and the amounts for any outstanding balances (All information is subject to a credit check report)

* Copies of three months of bank or credit union statements for both checking and savings accounts.

* Lenders loan numbers and amounts owed on other installment loans, such as student loans, trade lines and car loans.

* Addresses where you have lived for the last seven years, with names and phone numbers of landlords if you have rented for these years.

* Copies of brokerage account statements for three months, as well as a list of any other major assets of
value, such as a boat, RV, or stocks or bonds not held in a brokerage account.

* Copies of your most recent 401(k) or other retirement account statement.

* Documentation to verify additional income, such as child support or a pension.

All of the information above applies to all individuals applying and signing the loan.

"A Realtor® That Works For You"

Aris Mendez REALTOR®
Allen Tate Realtors
Cell: (864) 567-5114
Office/E-Fax: (864) 272-1922
Email: aris@ARMLCO.com


How's the Real Estate Market in the Carolinas?
Click here to find out: www.allentate.com/forecast

View nearly 100,000 homes that are updated daily, go to: www.greenvilleURhome.com

Buying a Home makes Perfect Sense in Today's Market

Are you a strong buyer? Credit worthy? Have some money for down payment? And ready to make the move? Then, "Buying a Home Makes Perfect Sense" for you, interest rates are lower (as of today 10/9/08 5.87%) than they have being in the pass six month or more. And, if you qualify and like to take advantage of the Housing Stimulus Package ($7,500 Tax credit) for first time home buyers. Buyers who have not bought within the pass three years, qualify for this program as well.

The housing market has never being better for all potential buyers, with numerous enticing programs and low interest rates available to qualify buyers. My expertise tell me that it all depends on where you're purchasing your home, that you'll make a better investment no matter how drastic or detrimental the media's headlines get. In fact, in many great US cities, like in the Upstate of Greenville South Carolina it's more affordable to buy in today's market than it is to rent an apartment or home. This is extremely important, because it means that whatever is happening on a national level it's not necessarily what's going on in our Greenville, SC market area. And, in actuality your home may be worth more today than what it was worth a year or two ago.

Whether helping you "Sell Your Property" or finding you, "Your Perfect Home" Up to $500 Cash Rebate at the closing table!

"A Realtor® That Works For You"

Aris Mendez REALTOR®
Allen Tate Realtors
Cell: (864) 567-5114
Office/E-Fax: (864) 272-1922CO.com

How's the Real Estate Market in the Carolinas?
Click here to find out: www.allentate.com/forecast

View nearly 100,000 homes that are updated daily, go to: www.greenvilleURhome.com