Wow! The market has definately changed since 2008. My team, The EZ Sales Team sold 81 homes in all of last year and have already sold over 100 this year! Hopefully, the government decides to continue the first time home buyer credit because it is definatley doing the trick. Whatever the outcome we are moveing some homes here in Greater Cleveland and want to remind the agents out there that we do offer a solid 30% referral! www.EZSalesTeam.com
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FEATURE |
CREDIT AS CREATED JULY 2008 APPLIES TO ALL QUALIFIED PURCHASES ON OR AFTER APRIL 9, 2008 |
REVISED CREDIT - EFFECTIVE FOR PURCHASES ON OR AFTER JANUARY 1, 2009 AND BEFORE DECEMBER 1, 2009 |
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Amount of Credit |
Lesser of 10 percent of cost of home or $7500 |
Maximum credit amount increased to $8000 |
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Eligible Property |
Any single family residence (including condos, co-ops, townhouses) that will be used as a principal residence. |
No change All principal residences eligible. |
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Refundable |
Yes. Reduces (or can eliminate) income tax liability for the year of purchase. Any unused amount of tax credit refunded to purchaser. |
No change Purchasers will continue to receive refund for unused amount when tax return is filed. |
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Income Limit |
Yes. Full amount of credit available for individuals with adjusted gross income of no more than $75,000 ($150,000 on a joint return). Phases out above those caps ($95,000 and $170,000). |
No change
Same income limits continue to apply.
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First-time Homebuyer Only |
Yes. Purchaser (and purchaser's spouse) may not have owned a principal residence in 3 years previous to purchase. |
No change Still available for first-time purchasers only. Three-year rule continues to apply. |
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Revenue Bond Financing |
No credit allowed if home financed with state/local bond funding. |
Purchasers who utilize revenue bond financing can use credit. |
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Repayment |
Yes. Portion (6.67% of credit or $500) to be repaid each year for 15 years, starting with 2010 tax filing. |
No repayment for purchases on or after January 1, 2009 and before December 1, 2009 |
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Recapture |
If home sold before 15-year repayment period ends, then outstanding balance of repayment amount recaptured on sale. |
If home is sold within three years of purchase, entire amount of credit is recaptured on sale. Applies only to homes purchased in 2009. |
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Termination |
July 1, 2009 (But note program changes for 2009) |
December 1, 2009
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Effective Date |
Purchases on or after April 9, 2008 and before January 1, 2009. Repayment to begin for 2010 tax year. |
All revisions are effective as of January 1, 2009 |
First-time home buyer tax credit details reported today!
Home buyers who hoped for a $15,000 tax credit to buy a new home, as promised by the Senate, will be disappointed. A proposed $35 billion credit to support home sales was jettisoned in favor of a more modest $2 billion to $3 billion provision.
The proposal would eliminate the repayment requirement in an existing tax credit for first-time home buyers, and raise the credit to $8,000 from $7,500. Congressional aides cautioned Wednesday that the credit's size was still subject to negotiation.
Contact The EZ Sales Team today for all your buying needs and/or financing questions!
Thanks,
The EZSalesTeam
216-916-7778
Crocker-Stearns work Completed!
In a great turn of events the Crocker-Sterns work was completed after reports of another delay. Although the GPS devices don't have it right yet, you should. It will save residents traveling in and out of Westlake an average of 15 minutes depending on their route.
This improved connectivity should assist Crocker Park and other commercial business. The better these business do, the more tax dollars Westlake will be able to utilize to improve their already great city services and amenities! Great job and congrats to the City of Westlake and the residents!
Contact The EZ Sales Team when looking to buy or sell in Westlake Ohio. www.EZSalesTeam.com or 216-916-7778
Contact The EZ Sales Team today if you are looking to entrust your buyer/seller referrals with a Top Cleveland Realty Team! We will offer 30% referrals and will take great care of your clients!
Please check out our website for more information at www.EZSalesTeam.com or contact me today at Greg@EZSalesTeam.com
Thanks,
Greg
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Top Cleveland Real Estate Agent Team leader. Selling over 1000 homes and over 60 Million in sales! With over 14 of Cleveland's top agents we are able to assist buyers and sellers anytime and anywhere
Experience + Technology = Results
Experience
Technology
Results
The EZ Sales Team has over 13 agents surrounding the Greater Cleveland Area and can assist downtown/East or West! We cover more then just the following cities: Downtown Cleveland, Lakewood, Rocky River, Fairview Park, Westpark, Westlake, Olmsted Falls, Olmsted Township, Avon, Avon Lake, Bay Village, Amherst, Lorian, Cuyahoga County, North Ridgeville, Elyria, Cleveland Heights, Shaker Heights, Solon, Chagrin Falls, Media, Brunswick, Strongsville, Brecksville and more!
Check out our Community Informaton Page!
Testimonials
Testimonials Thanks to The EZ Sales Team for getting such a great price for my home! Through Mike Zinicola's expert negotiation strategies, the final selling price was $25,000 higher then the buyer's origional offer. Mike was a real professional advocate for us and was stellar when we needed him most (at the negotiation table). I am thrilled to be on my way to a new home in this troubled market thanks to The EZ Sales Team! Mark Dymidowski, Lake Ave. Cleveland "The EZ Sales Team sold my home in less than 2 months while other realtors couldn't for 16! Thanks guys for using your market knowledge and drive to sell my home and guide me the process in a very difficult market. I would recommend the EZ Sales Team to anyone looking to buy or sell a home." Doug Tovissi, Tremont
"Dear EZ Sales Team, It has been a pleasure working with you. My trip to Cleveland was very successful, in large part because of the attention of your associates. I wish I knew my town as well as you know yours! Many thanks." Mark Hardwicke, California
"The EZ Sales Team run a first-class operation. As a first-time buyer, they added a lot of value to the experience, especially during the search process and in negotiations. They were able to uncover properties I never would have thought of looking at and brought a lot of passion to the search process. Most importantly, they know how to professionally negotiate to get their buyer the best possible deal. Thanks again!" Eric Endress, Downtown Cleveland
"After interviewing many real estate companies we decided to list and buy with The EZ Sales Team. They sold our home in a very difficult market in under 60 days! We were thrilled! We would recommend to anyone buying or selling a home to work with The EZ Sales Team!" Vic and Judy Ferris, Olmsted Falls Sold, Lakewood Purchase
"The EZ Sales Team was the most amazing aspect of my first home buying experience. They were extremely patient and attentive to my particular needs. In their hectic schedule, they were completely available to me...I felt as if I was their only customer. The EZ Sales Team is a group of phenomenal realtors and should be acknowledged as so. I look forward to working with them in the future." Christy Wolanin, Rocky River
"The EZ Sales Team sold our house in Lakewood in six days in a market where there were over 175 houses for sale in our price range. They were very professional and were very good at meeting our needs. We were very happy with the whole process." Patrick McFarland, Lakewood
"The EZ Sales Team have the professional sales background to sell homes fast." Karen and Tom Barrett, Westlake
"EZ Sales Team, Thank you very much for selling my house in Lakewood, you are a true professional!" Mike Mytnick, Lakewood
"Our experience in selling a home with The EZ Sales Team was better than we could have ever expected. We had tried to sell our home 4 years previously with another realty agent and it was on the market a very long time without selling. We were very skeptical and negative about trying again, but found that The EZ Sales Team was positive and full of energy right from the beginning! They kept the lines of communication open and made us feel like we were their only house. We were surprised about how quickly it sold after making some of the small changes they suggested! This team has all the qualities that we feel define an excellent realtor team: respectful, dedicated, honest, knowledgeable, professional and approachable. I would highly recommend The EZ Sales Team's services to anyone buying or selling their home." Nathan and Julie Aish, Lakewood
"The EZ Sales Team was a tremendous help in buying my first investment property. I will definitely use him in the future" Edward DiFiore III, Lakewood
"My husband and I could not have sold it without your continued support and follow up with all potential buyers. Even though we had several obstacles, i.e. long hallway, older appliances, you always kept us informed and helped make it an easier experience selling the condo. I will always give my business to you and refer my family and friends to you. I also really enjoyed working with your team. They helped with the total experience and their follow up and supportive attitude were greatly appreciated" Brenda Carnahan, North Olmsted
A special thanks to The EZ Sales Team for helping us find our perfect first home. Both Greg and his team were very professional, personable, and accommodating. The team was incredibly helpful and patient in showing us many properties. Greg was diligent and really took the time to explain in detail the paperwork involved. They made the sometimes intimidating experience of buying a home an easy and fun process. We wouldn't hesitate to work with them again and will recommend them to others.
-Don and Alison, Lakewood, Ohio
"You and your team's first class and professional demenor has made our home-buying experience great! Once again, thank you for all of your assistance." John O'Neill & Sheri Thomas, Lakewood
"The EZ Sales Team did a wonderful job determining the proper pricing for my building. Then, their marketing instantly generated a considerable amount of traffic, which certainly helped prompt the eventual buyer to action. I was under contract within 60 days. I am confident that I got what the building was really worth on the market, which was all I asked for. I'm certain the outcome was way better than if I had attempted doing this myself. They obviously knows what they're doing...and are nice guys, too!" Tom Denk, Lakewood, Ohio
"The EZ Sales Team did a fantastic job helping me buy my first home. I highly recommend them to anyone looking to buy or sell. Thanks for the great service!" Lauren Stern, Rocky River
"The EZ Sales Team went above and beyond! They were extremely helpful and always there when I needed assistance!" Kathleen Krupar, Avon Lake
"The EZ Sales Team sold my property in 10 days in a very difficult market and after it was listed for 6 months with another realtor! I highly recommend these guys if you are looking to sell your home fast!" Liz Gilcrist, Bay Village
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