NEED DIRECTIONS??
This post was originally written and posted at our Edmond and Oklahoma City real estate blog.
In case you missed it, the latest real estate statistics have been published for the OKC Metro, including such areas as Edmond, Deer Creek, Moore, Norman, Piedmont, Yukon and beyond. Judge for yourself, but I'd say there are some very positive indicators of where we've been and where we're going, with sales up and inventory levels down.
With the flurry of activity our team - and almost every other agent we've talked to lately - is experiencing, I fully expect that April's numbers will be even more impressive. Stay tuned!

I posted some information yesterday that's blowing the socks off of the people who get it, but maybe I wasn't clear enough in my initial post to help enough people 'GET IT.'
I'll try to be more direct:
If you or your client qualify for the New $8K Home Buyer Tax Credit, you/they can claim it on their 2008 (last year's) tax return and GET THE MONEY NOW, BEFORE BUYING A HOUSE. This means, that money can be used toward down-payment and/or closing costs.
Did everyone get that? GET THE MONEY BEFORE BUYING A HOUSE!
Now, there are some caveats to this deal, so make sure you read all the details and check with your CPA to get clarification on the advantages and disadvantages to this approach. I'm not a Tax Pro, so make sure you cover yourself by checking with your Tax Pro on this BEFORE taking any action!

I've been waiting to hear back from CPA for some clarification on how the new Home Buyer Tax Credit can be used, and I finally got confirmation today... There's a twist to this new credit that EVERY HOME BUYER NEEDS TO KNOW ABOUT. MAKE SURE YOU'RE TELLING YOUR CLIENTS!
Home Buyers Incentive - NEW TWIST
About a week ago, I told you about the new version of the Home Buyer Tax Credit, and at that time I had an idea of how this could REALLY be a benefit to someone thinking about buying a home, especially if he/she didn't have a lot of cash for down-payment or closing costs. I wanted to make sure I had correct information though, before posting it here for all the world to get excited about... I was waiting on my CPA to get clarification on the program.
So here's the scenario: If you meet the qualifications for the Home Buyer Tax Credit (click HERE for more details), you can claim the credit on your 2008 income tax return, EVEN if you haven't bought a house yet! Yep, that's right, you can claim it and get the money NOW, then put it toward your down payment and/or closing costs.
The other biggie is that this credit doesn't have to be re-paid. It's free money for home buyers that meet the criteria!
OK, so here's my disclaimer; this info came from my CPA, Rusty Hale. I'm putting this info out here for you to take advantage of, but please investigate and make sure it will work for you. Get advice from your CPA before taking any action, just to be sure you're not going to get jammed up somehow. One bad scenario I've though of is if you were to take the credit, get the money, then you can't qualify for a mortgage. My guess would be that you'd have to pay that money back, but again, CHECK WITH YOUR TAX PROFESSIONAL TO BE SURE! If you don't have one, call Rusty @ 405.330.6000.

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