As forwarded to me by Internet Compass Solutions, it appears good news may be on the horizon -- Word is the credit will be renewed (read: extended?) allowing not just first time, but also repeat homebuyers the credit, to be gradually reduced, but continued through the end of 2010. Let's keep the market moving!
Following is the text as per Bloomberg News:
Senate Democrats on Board with Credit Extension
Senate Banking Committee Chairman Chris Dodd (D-Conn.) says Senate Democrats have 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. 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.
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.
Source: Bloomberg News, Dawn Kopecki and Ryan Donmoyer (10/27/2009)
I know there are some out there who believe the homebuyer tax credit was a mistake, and that an extension just compounds the mistake, but listen up -- That's easy to say now, but have we all forgotten the stagnant situation of a year ago, with all the potential homebuyers and homesellers petrified, afraid to do anything? We Americans have such short term memories, housing markets, economic realities, elections...
Best regards, Gretchen
Today is the day that Howard County MD Public School Teachers come back (or arrive, if they've just been hired - 200+ new teachers this year!) Of the 200 new teachers, 36 are for new positions. 25% of the new hires are HCPSS graduates, returning to teach here -- what a compliment to the school system!
WELCOME! Who is more important in the lives of our children - Take good care of ALL of our teachers, welcome them, support them, ask them what they need. Volunteer! Join the PTA!
Here are some interesting facts, compliments of the Howard County Public School System:
We have 72 public schools, 4,563 teachers, and anticipate 49,138 students. The operating budget is $656,694,100, and spends $13,320 per student.
For teachers, the average age is 41, average teaching experience is 12.4 years, and 61% have at least a master's degree.
So whether you're HAPPY or SAD to see the end of summer -- HERE IT COMES! The school year begins for Howard County students on Monday, August 31.
Best regards, Gretchen
Okay, first of all, I'm all for the political world of Washington. I believe America is a great
place to live, and I think that checks and balances helps to keep all of us safer and saner, even if we don't see it at the time.
But REALLY!!!
$132 MILLION DOLLARS, in this day and age, unnecessarily escalating the timed replacement of jets, for use by our elected officials in Washington, DC?? This is the same group of people who just rained on the parade of the automobile industry executives (and rightly so), asking them if they didn't think they should be traveling on commercial airlines!
How many people, losing their homes, could be saved for $132 MILLION DOLLARS? Let's see, pulling a number out of the air, let's say $50,000 each -- That's 2,640 homes, 2,640 families, 2,640 neighborhoods not pulled further down? It may not sound like all that much, but to those 2,640 families, it's EVERYTHING! COME ON, WASHINGTON!
Could we have saved all of the Howard County foreclosures for the cost of 2 jets?
Best regards, Gretchen
As reported by the Associated Press yesterday, the Savage Towne Centre, in Howard County, has been added to Maryland's Zones, preparing for up to 60,000 incoming BRAC job positions in the State expected by 2015. By naming the Zone in the plan, the 13 acre area development, bounded by 32, Dorsey Run, and the MARC Train Station, will have State tax credits available to encourage development.
Exciting to see progress!
Best regards, Gretchen
In the June 2009 Howard County Economic Indicators Report, the following has been repo
rted:
As of January 2009, the average sale price for a single family home in Howard County has decreased 5.5% from the year before, January 2008 ($455,005 to $430,166). And 113 homes were sold during January 2009, a decline of 27% from the 155 sold in January 2008.
The Economic Indicators Committee does note that:
This report is a joint publication of the Howard County Government and the Howard County Chamber of Commerce, and if anyone would like a copy, just give me a call!
Best regards, Gretchen
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I love helping sellers and buyers with their life transitions, guiding my clients toward the best home sale and purchase decisions for them, on a timeframe that best suits their needs!
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