Well folks, it is a done deal now...But, not the $15,000 that was originally submitted...See previous blogs Senate passes $15,000 credit for homebuyers..but wait...its not a done deal yet...
Senator Johnny Isakson, a Georgia Republican who sponsored the amendment has said..said. "I'm extremely disappointed the members of Congress negotiating the final package decided to eliminate my $15,000 tax credit for all Americans who purchase a home. I will continue to pursue my proposal as stand-alone legislation..Read more here
Even though the credit is 10% of the homes value, capped at $8,000,(whichever is less), that is still better than getting 0! A big plus is that the credit is refundable.
There are restrictions and changes, some of which are...
To qualify, you have to buy a house between Jan. 1 and Dec. 1 and use it as your primary residence.
You must be a first time home buyer (OR.. you haven't owned a house in at least three years)
The credit won't have to be repaid, unless the property owner sells within three years
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit
Recovery.gov Read the Bill You have to go down to about pg 203, HR1 - 192 Div B Tax Provisions Title 1 Sec. 1006
Dawn Barrier
Liberty Realty
2920 S. Durango
Las Vegas, Nv 89117
(702) 812-4550
www.DawnBarrier.com
This is an update from yesterday's post $15,000 Home Buyers Tax Credit -It may get Buyers off the Fence.
Well, todays vote of 61/37 officially passes thru the Senate the stimulas plan, but now has to pass thru both Houses before the President signs it into law. So...there still could be some changes/modifications coming.
Lawmakers in the House and Senate will now gather to iron out the considerable differences between the two versions of the legislation, with both sides having the goal of completing the bill within a week so that President Barack Obama can sign the stimulus plan into law....Read more
WSJ link to proposed amendment
Stay tuned and Let's see what happens over the next week.
Dawn Barrier
Liberty Realty
2920 S. Durango
Las Vegas, Nv 89117
(702) 812-4550
www.DawnBarrier.com
The Senate voted last Wednesday night to give a tax break of up to $15,000 to homebuyers in hopes of revitalizing the housing industry, but it isn't official yet...
Senator Johnny Isakson, a Georgia Republican who sponsored the amendment, said it was critical to pulling the economy out of the worst recession in decades. "If we don't fix housing first, it doesn't matter what else we fix," Isakson said. Isakson patterned his plan after a decades-old idea he says helped lift the economy out of recession in 1975. Isakson's website
The provision faces an uncertain future because it would have to win support in the House of Representatives to be included in the final economic stimulus plan. The Senate provision would allow homeowners to split the $15,000 into two separate tax credits of $7,500 to be taken in successive years. Bloomberg.com
The new credit, approved by the Senate Wednesday night, could work like this: Buyers would get 10 percent of the purchase price of any home, up to $15,000, applied to their tax bill.
Purchases must be made within one year of the legislation's enactment, and the tax credit would not have to be repaid.
Anyone who buys a home within a year of the bill's signature would qualify. To deter speculators, buyers must occupy the house as their main residence for at least two years.
This proposal is definitely causing many people to think a bit more seriously about buying a home in 2009.
Stay tuned and Let's see what happens on Tuesday, Feb 9, 2009.
Dawn Barrier
Liberty Realty
2920 S. Durango
Las Vegas, Nv 89117
(702) 812-4550
www.DawnBarrier.com
Builder is discounting homes ....
$568,000 Price Reduction: Plan 3784 drops from $920,000 to just $352,000 ($93 per SqFt)
$480,000 Price Reduction: Plan 3768 drops from $875,000 to just $395,000 ($105 per SqFt)
$480,000 Price Reduction: Plan 4281 drops from $900,000 to just $420,000 ($98 per SqFt)
$476,000 Price Reduction: Plan 3852 drops from $900,000 to just $424,000 ($110 per SqFt)
$526,000 Price Reduction: Plan 3855 drops from $950,000 to just $424,000 ($110 per SqFt)
$480,000 Price Reduction: Plan 4025 drops from $915,000 to just $435,000 ($108 per SqFt)
$461,000 Price Reduction: Plan 4741 drops from $940,000 to just $479,000 ($101 per SqFt)
$476,000 Price Reduction: Plan 3852 drops from $900,000 to just $424,000 ($110 per SqFt)
$428,000 Price Reduction: Plan 5313 drops from $965,000 to just $537,000 ($101 per SqFt)
To see these or find out more, or if you are looking to buy a new home in the North/Northwest Las Vegas area call me for more information or send me an email with your new home criteria and I will email you out available pics and plans.
Dawn Barrier
Liberty Realty
2920 S. Durango
Las Vegas, Nv 89117
(702) 812-4550
www.DawnBarrier.com
Information provided courtesy of Larry Murphy..SalesTraq
A first-time home buyer is usually defined as someone who has not owned or co-owned their own residence within at least the past three years.
Does that sound like you?
Do you need down payment assistance?
If you answered yes, then give me a call and we can get you on the path to getting your loan approval thru a major lender and see if you qualify for the down payment assistance.
If you already have a lender, ASK them if you could qualify for the down payment assistance "LOAN" program thru the Nevada Bond program.
This is a "loan" that will have to be paid back, so it is not free money, you will have to pay it back as a 2nd Loan. Get with major lender to find out if you qualify or give me a call if you would like me to give you some lender information.
You can search for homes now at DawnBarrier.com
Or, better yet email me with your specific home buying criteria and provide an email address to receive daily updates on the homes that come up for sale in the area you want to buy in.
For all your Selling and Buying real estate needs in the Las Vegas area, Providence, Centennial Hills....
Dawn Barrier, Liberty Realty
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Las Vegas Short Sale & REO Real Estate Professional in the Las Vegas area, Green Valley,NorthWest Las Vegas, Centennial Hills,North Las Vegas & Summerlin, Certified Short Sale Professional
Certified Short Sale Professional
Dawn Barrier
Century 21 Aadvantage Gold
2 offices to serve your needs
Las Vegas, Nv
(702) 812-4550
My Website
If you are in the market for a Las Vegas home and are not working with a Realtor, call me. I would be happy to help you through the process of buying a home.
If you are in the market to sell your Las Vegas home and are not working with a Realtor, call me. I would be happy to help you through the process of selling your home.
I am a Las Vegas Short Sale & REO Real Estate Professional REALTOR® representing clients with homes for sale and clients purchasing homes in the Las Vegas areas of NorthWest Las Vegas, Centennial Hills, Henderson & Summerlin.
I specialize in residential real estate, single family homes, REO's/Bank Owned, & ShortSales in the Las Vegas area.
Memberships/Designations:
"Dawn is an amazing agent. I had given up on trying to use an agent after trying a handful from other supposed leading companies. Other agents either tried to tell me what kind of house I wanted, ignored most my requests, at times rude and unprofessional, the list goes on. I expressed my frustration with my loan officer and she recommended Dawn. I am glad I took a chance. From the get-go, Dawn listened to my requirements and didn't waste my time showing me houses that didn't meet my those requirements. Dawn was 100% professional at all times and displayed the knowledge and confidence a real estate agent should have when completing the paperwork (unlike the other agents I dealt with prior). Within a few weeks, Dawn had found me a great house for the price I was wanted. Dawn made the rest of the deal smooth and painless. I would recommend Dawn to anyone. In fact, I will be contacting enlisting her help when I plan to sell and upgrade to a bigger house this year!" Josh A
You are oh so professional. You are every bit the way I imagined a Realtor to act like and to be. Thank You for your professionalism! Thank You for jumping in. ...... Dana D.
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