TACOMA~FEDERAL WAY~AUBURN~KENT~WA 206-679-4768 Julianna Hind, REALTOR(R)

Agree or Disagree, Tax credits are put in place to stimulate the economy. I personally would rather see this type of rescue than huge corporate bailouts. I do believe this will help a few people planning to close during around the thanksgiving holidays cause to sleep better. Homeowners moving up the property ladder recieve a credit too.

Read about the Tax Credit Extension Here

Stay tuned...

Come and see in Kent, WA 4 Bedroom/Scenic Hill Area/View Home/Close to Kent Station Open House 10/7/09 12-3PM

Looking for homes for sale in Kent? Contact Agent Julie Hind for her "Best Buy" list!

Ok, this is like waiting for smoke signals from the Vatican, but when it comes to the decision on the First Time Buyer's Tax Credit extension... we are all still waiting on the decision. Agree or Disagree, the decision will head to the President's desk shortly, and then we all will know. Buyers that are hoping to be closed by November 30tht will rest easy, knowing that thier 8K handout in the form of a tax credit will be safe and secure, as long as the close by what is projected to be an April 30th expiration date for the extension.

Here is the latest from the NAR:

After two weeks of delay, the Senate last night cleared the way to pass a seven month extension and expansion of the tax credit for homebuyers. By an 85 to 2 roll call vote, the Senate voted to cut off debate on a package of measures that includes the homebuyer credit, making it virtually certain that the legislation will reach President Obama for his signature this week.

The homebuyer tax credit, due to expire in 28 days, would be extended through April 30 of next year. First-time buyers who are in process of making a purchased would not need to worry about qualifying for the $8,000 credit if they close after the November 30 deadline.

For the first time, the legislation cleared last night makes move-up buyers as well as first-time buyers would be eligible for a credit. The $8,000 maximum first-timer credit will continue and will now available to couples with income up to $225,000, a nearly $55,000 increase above the level in existing law. A new $6,500 maximum credit would also be available to move-up homeowners who have lived in their current residence for five of the prior eight years.

The tax credit has fired the housing market, driving existing home sales to the highest level in over two years. The National Association Realtors reported sales jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million units in September and are 9.2 percent higher than the 5.10 million-unit pace in September 2008.

Only two Republicans voted against the credit. One of them, Senator Kit Bond (R-Mo.), said, "We're kidding ourselves if we think we can prevent more fraud, more taxpayer losses," "The most effective means of preventing fraud is simply to not extend the credit."

The legislation included provisions added to address complaints of fraud. The Internal Revenue Service is given greater authority to oversee the process to root out fraud, and provisions are added in response to past abuses of false sales or underage buyers. An investigation by the Treasury Department's Inspector General for Tax Administration found that more than 580 children, some as young as four years old, had received $627,000 in first-time homebuyer credits. The IRS has identified 167 suspected criminal schemes and opened nearly 107,000 examinations of potential civil violations of the first-time homebuyer tax credit.

A number of economists have voiced concern about the $16.7 billion.cost of the credit and the wisdom of spending up to $400,000 per homebuyer to stimulate real estate sales. The White House has been lukewarm at best. However, it is virtually certain that the President will sign the legislative package, which contains an expansion of unemployment benefits as well as the tax changes.

Great home for sale in Maple Valley, Washington. Tahoma School District. RV Parking. Close to convenience stores, area parks, and in a great neighborhood. Open House 10/31/09 from 11- 2 PM.

Tacoma, Wa and Federal Way, WA... There a lots of questions to be asked about the differences between renting a home or buying a home. There are some options to factor in about what is best for you the consumer. Sometimes a person can buy a home for the same price they can rent it. Especially when rentals are hard to find in Tacoma and Federal Way... it is the simple law of supply and demand... even a new home can be more affordable.

If you are looking for new construction or an already existing starter home, I have a great list of homes and areas that might be of interest. If you are thinking about buying, let me hook you up with a leasing agent that works primarily with rentals.