Karin Zeigler

HOMEBUYER TAX CREDIT 2009/2010 BENEFITS MILITARY, OTHERS

Present tax law benefits Armed Forces members as well as intelligence service & foreign service personnel, who are on active duty and out of the U.S for 90 days during any part of 2009. They get an additional year to buy their homes to May 2011. Time of occupancy of the home purchased with the tax credit must use that home as a principal residence for a period of no fewer than three years or must forfeit the entire credit. Military, intelligence and foreign service members do not have to repay the credit if they have to sell their home after fewer than three years occupancy due to official business.

First Time homebuyers who are eligible can obtain a tax credit of $8,000. Current homeowners are eligible for $6,500 tax credit, provided they have lived in the home they are selling, or have sold as principal residence for five consecutive years in the past eight years. Income limits for eligible home buyers are expanded to $125,000 for single buyers and $225,0000 for couples. The purchase price of the home cannot exceed $800,000. To help guard against fraud, buyers are required to attach documentation of purchases to their tax return.

Consult your tax consultant for specifics of the Homebuyer Tax Credit. All information is deemed to be accurate but not guaranteed.

Current home owner: amount of Credit $6,500. ($4,000 Married filing separately. Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years. Limit on cost of Purchased home: $800,000. Income Limits: (NOTE: Increased income limits are effective as of date of enactment of bill) $125,000 single & married $225,000. Additional $20,000 phase out. Dec 1 - Apr 30, 2010 Rules as enacted November 2009. Binding contract rule: So long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close. Termination of Credit - purchases after April 30, 2010. Call Karin Zeigler RE/MAX Four Seasons 360-870-6249 to sell & buy your home in Thurston County, WA. For all MLS Listings go to www.karinzeigler.com

I just completed training for NAR's Green Designation Course. This course provided advanced training and resources so that I may: Respond to consumer demand for green homes & buildings as well as green home & building features. (2) Guide the discussion of green and sustainability as these issues relate to real estate. (3) List and market as well as guide buyer clients in purchasing green homes and buildings. (4) Incorporate green principles in my day-to-day practice. Contact Karin Zeigler, Real Estate Consultant, RE/MAX Four Seasons , Olympia, WA at 360-870-6249, web: www.karinzeigler.com or email: karinzeigler@remax.net

Treasury Announces Requirements for Making Home Affordable This is a comprehensive $75 Billion Home Affordable Modification Program. The plan is expected to reach up to 3 to 4 million homeowners.

The goal for the Home Affordable Modification program is to reduce the amount homeowners owe per month to sustainable levels to stabilize communities. There are some key components of this program:

• Shared effort to reduce monthly payments. Treasury will partner with financial institutions and investors to reduce homeowners' monthly mortgage payments. • "Pay for Success" Incentives to Servicers: • Responsible Modification Incentives. • Incentives to Help Borrowers Stay Current. • Home Price Decline Payments. • Second Liens• Modification of Home Mortgages during Bankruptcy. • Strengthen Hope for Homeowners and other FHA Loan Program. • Support Local Communities and Help displaced Renters.

Making home affordable will offer assistance to many homeowners making their mortgages more affordable and helping to prevent foreclosures. Here are some of the guidelines:

>Loans originated on or before Jan 2009.

>First-lien loans on owner-occupied properties with unpaid balance up to $729,750. Higher limits allowed for owner-occupied properties with 2-4 units

>Borrowers must document income.

>Property owner occupancy status will be verified.

>Incentives to lenders and servicers to modify at risk borrowers.

>Modifications can start now until Dec 31, 2012.

For details of the Home Affordable Modification see http://www.financialstability.gov/

For more information on buying or selling your home call

Karin Zeigler, RE/MAX Four Seasons, 360-870-6249

e-mail: Karinzeigler@remax.net.

Web Site: www.karinzeigler.com

A recently released joint study by Trulia-a U.S. News partner-and RealtyTrac indicates that foreclosure discount for the state of washington is 24% The median list price for Washington is $283,950 vs REO list price is $216,000 a savings of 24%. If you are looking for a good deal on Real Estate for Olympia, Lacey, Ft Lewis, Tumwater call Karin Zeigler, RE/MAX Four Season, 360-870-6249. My web site is www.karinzeigler.com