Rebecca Holborn, PA

The senate just passed the 8,000 tax credit for 1st time buyers, we are awaiting the vote from the U.S. House now, and if signature from the president, which he would be signing on Friday. Let's hope everyone works fast to make this happen for us!

One of the biggest statements I have heard this year was" I wish someone would pay ME 8,000 to move!"

Well, it may not be 8,000, but they're giving us 6,500 instead. So now it's the perfect time to upsize or downsize, not only because the interest rates or low, but the 6,500 would be a nice trip to Tahiti.

This extention would mean first time buyers could take advantage of this until April 30, 2010 AND includes a 60 day extension if an executed contract is in place.

The income limits were also raised as well. $125,000 for single filers/$225,000 for joint filers. Same for both first-time and repeat/move-up buyers.

US Senate to vote for extention of 8K Tax Credit

The United States Senate is expected to vote, later today, on a bill to extend Unemployment Insurance benefits. This bill will contain the Dodd - Lieberman - Isakson Amendment to Extend and Expand the $8,000 First Time Homebuyer Tax Credit.

The Extended and Expanded Tax Credit will contain the following provisions:

Amount: $8,000

Eligibility: ALL HOME BUYERS (Step-up buyers will have to have lived in their current home for
seven years to be eligible)

Income Limits: $125,000 for single filers/$225,000 for joint filers

Time Frame: December 1, 2009 to April 30, 2010 plus 60 Day extension if binding contract is in place by April 30, 2010

*The 7 year ownership requirement is designed to lower the "score" or cost of the tax credit. This is still open to change. The Congressional Budget Office is going to "score" the cost of 3 year and 5 year requirements. We are continuing to push for step-up buyers to be required be in their current home for three year period.

NAR will be monitoring the progress and any potential changes to the bill. NAR will send out a notice when the legislation is voted on tonight--regardless of how late into the night or early into the morning the debate continues.

I have been a resident of Lake Mary for 14 years, and I wanted to incorporate a website about our great community. Today I a proud to announce my new website http://www.LakeMaryExpert.com. I will be updating it frequently with links for schools, community events, and local businesses. Feel free to email comments or suggestions for the site!

Also in the fall, we will be having our Realtor women's self defense class starting up again. Please contact me about signing up for this fun class. Spouses and partners are free to come to participate, and also there is free child care offered as well. It will be on Tuesday and Thursday evenings from 7:15-8:15 for 6 weeks. For more information about this class, please visit www.championkaratefl.com. The school is in Lake Mary, at Country Club and Lake Mary Blvd.

The housing market has been booming in Lake Mary, and homes that are priced to sell instead of sitting are going fast. Also, we have learned that many lenders are funding within 30-45 days. We are encouraged to tell our customers that if they want to be eligible for the $8,000 tax credit NOT TO WAIT until October to begin the process. Get preapproved now, complete the loan package.

For any information about todays real estate market in the central Florida area, email me anytime at RebeccaHolborn@remax.net.

Perhaps it is before the end of the year, or the usual rise in interest rates before and election, but the buyers are back! Many first time buyers I've been working with didn't know that it doesn't cost them penny to use a realtor. There are lots of deep discounts on great homes from New Smyrna to all over Central Florida, and now is the time to buy!

Even with people with "blips" on their credit are getting loans, contrary to what may be heard in the media. i enjoy helping first time buyers, and buyers who are needing to invest in another investment property due to their VA loans.

Sellers who are in a dire need to sell are accepting prices to sell, and the buyers are loving the idea of having the holidays at their new house this year!

if you have any questions, don't be shy please email me or call me, and i'm happy to get you into a home before the holidays!!!

Because of the void for woman's self defense courses in the area, Champion Karate in Lake Mary will be running them every 6 weeks! There are spots left for the course beginning June 3rd! The program includes personal instruction from Mike Freidman who is a 4th degree black belt, t shirt, DVD and workbook to review. The program was begun by Dave Hebler www.giftofpower.org, and he was Elvis Presley's body guard. This program took years of research to design, and it will be held twice a week for 6 weeks. We made the class 1 hr long from 7:15-8:15 Tuesday and Thursday nights. For mom's who would like to bring their daughters,we ask that age 12 and older may attend. For information, please contact http://www.championkaratefl.com, or at 407-322-1434 or email them at info@championkaratefl.com

I hope to meet some of you there!