DeAndrea "Dee Dee" Jones The Hampton Roads Real Estate Lady!

Its Almost Official!!!!

Senate indicates that First time Homebuyers Tax Credit will be renewed until at least April of 2010!

This is Great news! Here are the biggest changes:

The credit would be cut slightly to a $7,290 cap. Income eligibility for first-time home buyers would stay the same, but it would rise for step-up buyers to $125,000 for individuals and $250,000 for couples.

This is the biggest change: The credit will also be expanded to include so-called step-up buyers who have lived in their current home for at least five years.

At this time, it is believed that the credit will allow anyone purchasing (even if the property is not closed) a home by April 30, 2010 to participate and receive the full credit available. The credit will be continued (but reduced by 2% each 90 days) through the end of 2010! The credit will be slightly lessened, but it will be renewed and this extension should allow the market to continue to recover into and through next summer's selling season. Of course, there's always the possibility that it could be renewed at that time, as well.

Here's the text of the story as reported in Bloomberg News today:
Senate Democrats on Board with Credit Extension

Senate Banking Committee Chairman Chris Dodd (D-Conn.) says The Senate has agreed to extend the first-time home buyer tax credit. The latest version extends the program to home sales signed - not closed - by April 30. Purchasers would have another 60 days to close the sale.

This info passed on by Dee Dee Jones Wainwright Real Estate The Hampton Roads Real Estate Lady!

SHHHH!!!!! LISTEN, CAN YOU HEAR IT? Its Opportunity and its knocking. This is the last few weeks to take advantage of the up to $8,000 tax credit and then its gone. If you have been looking or are just starting to look for a home then it is time to dig in and get serious. The clock is ticking and we are down to the final stretch. To ensure you can close by Nov. 30th, you need to be under contract by OCT 16th at the latest!

If you need a lender contact me today! If you are ready to look for a home then contact me By phone, text, or email!!!!

At this time there are no concrete plans to extend this program, DO NOT MISS YOUR CHANCE!

About Home buyer Credit-

The purchaser, however, must qualify as a first-time home buyer, which for purposes of this credit means someone who has not owned a primary residence in the past three years.

The First-Time Home buyer Credit, originally passed in 2008 and modified in 2009, provides up to $8,000 for first-time homebuyers. If the taxpayer is married, this requirement also applies to the taxpayer's spouse. The home purchase must close before Dec. 1, 2009, most lenders are using Nov 30th as a deadline to close, and the credit may not be claimed on the purchaser's tax return until after the taxpayer closes and has purchased the home.

for more info go to: http://www.irs.gov/newsroom/article/0,,id=204671,00.html.

Visit my website,

The Hampton Roads Real Estate Lady!
Deandrea "Dee Dee" Jones
Wainwright Real Estate
www.DJonesSellsHomes.com
blog: DJonesRealEstateBlog.info
I can help you relocate NATIONWIDE!

Need to be walked thru the home buying process? Looking for Down Payment or Closing Cost Assistance? Want info on First Time Home buyer programs?

Home buying Classes to be held at Oceanfront Library in Virginia Beach. Classes to be held 10am to 4pm. On Saturdays Oct 3rd and Oct 24th. Pick a day to attend and RSVP by the thursday before.

Any of these classes will also meet first timebuyer program requirement for most Virginia loan programs. Call for more info on qualifying.

Topics: Budget and Credit, The loan Process, The Real Estate Buying Process, Home Inspection Process, and the Settlement/Closing experience. Come hear good information from a variety speakers.

Register by the Thursday before by calling Dee Dee Jones 757-831-8294 or send an email with your name and number to ddjones35@gmail.com.

If you would like to hold a free homebuying class at your church or nonprofit organization please feel free to email or call me!

This info brought to you buy The Hampton Roads Real Estate Lady!

Wainwright Real Estate Virginia Beach, VA

Now that it is Summer my kids are out of school. After they roller skated all morning on the wood floors in the house I told them it was time to take the fun outside. I went off to go show homes. My mother is temporarily off work awaiting a fourth knee surgery in July. Instead of being a mellow grandma babysitter, I came home to find my home the subject of a 6pm news feature story on Snakes in Chesapeake VA. OK yes our backyard backs up to a gorgeous forest like place, We have raccoons, foxes, frogs, and yes Snakes! Here is the video of my mom with my girls. Try not to laugh to hard.

Click this link to view video!

Dee Dee Jones

The Hampton Roads Real Estate Lady!

Wainwright Real Estate

Virginia Beach, VA

http://DJonesSellsHomes.com

Add Virginia Beach and Chesapeake Homeowners to the list of those complaining of Chinese Drywall found in their homes. Residents have joined for a lawsuit against the local supplier, contractor and Chinese manufacturer of the drywall. The suit is one of several locally connected to the use of Chinese-made wallboard. Chinese-made drywall, which has been the focus of complaints in several states by people who say it emits a corrosive gas that damages household electrical systems and causes respiratory problems.

The local Virginia Beach couples are out of thousands from replacing appliances, they all have experienced bouts of sickness, and the inconvenience of a nagging egg like odor has made their homes difficult to live in. They have asked the CPSC to investigate.

According to CPSC, To date, the CPSC has received over 365 reports from residents in 18 States and the District of Columbia who believe their health symptoms or the corrosion of certain metal components in their homes are related to the presence of drywall produced in China. State and local authorities have also received similar reports. We received our first incident report from a consumer on December 22, 2008. The majority of the reports to the CPSC have come from consumers residing in the State of Florida while others have come from consumers in Alabama, Arizona, California, Georgia, Kentucky, Louisiana, Mississippi, Missouri, New York, North Carolina, Ohio, Tennessee, Texas, Virginia, Washington, Wisconsin, Wyoming, and the District of Columbia.

Consumers largely report that their homes were built in 2006 to 2007, when an unprecedented increase in new construction occurred in part due to the hurricanes of 2004 and 2005.Common features of the reports submitted to the CPSC from homes believed to contain problem drywall have been:

• Consumers have reported a "rotten egg" smell within their homes.
• Consumers have reported health concerns such as irritated and itchy eyes and skin, difficulty in breathing, persistent cough, bloody noses, runny noses, recurrent headaches, sinus infection, and asthma attacks.
• Consumers have reported blackened and corroded metal components in their homes and the frequent replacement of components in air conditioning units.

For more info visit http://www.cpsc.gov/info/drywall/index.html

This info brought to you by The Hampton Roads Real Estate Lady! Dee Dee Jones Wainwright Real Estate

http://DJonesRealEstate.com