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Menomonee Falls, WI

Helpful Links for First Time Home Buyers

Dennis Herman: Real Estate Agent in Menomonee Falls, WI

First Time Home Buyer Tax Credit Information

First time Home Buyer Tax Credit.

A tax credit of up to $8,000 is available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Following is a link to the official web site.

http://www.federalhousingtaxcredit.com/2009/index.html


The income limit for single taxpayers is $75,000; the limit is $150,000 for married taxpayers filing a joint return.

To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner.

How to claim the first time home buyer tax credit. The tax credit can be claimed on Line 69 of Form 1040.

Helpful Links for First Time Home Buyers

http://206.173.89.217/ez1realty_net/929963.html

Real Estate bottom here in Milwaukee and Menomonee Falls

Dennis Herman: Real Estate Agent in Menomonee Falls, WI

We may have passed the Real Estate bottom here in Milwaukee and Menomonee Falls, Wisconsin. I am seeing agents receive multiple offers once again. I am also seeing a high number of accepted offers on the searches I am conducting. I just searched for a 3 bedroom bungalow. A few weeks ago I was sending out some real great looking homes at low, low prices. Today they are all sold or have accepted offers.

A month ago I could find 50 or more homes based on the needs of any buyer. The searches I am going now turn up a dozen or so homes.

Last month I could find a number of foreclosed properties in good condition between $40,000 to $50,000. Today the prices have shot up into the mid to upper 60's.

Open houses are bringing buyers.

The last few offers I wrote were on properties receiving multiple offers.

I am seeing an increased number of buyers calling.

The number of sales on MLS has not increased but has been holding steady. Is this the beginning of a turn around or a temporary spike in sales?

Rotary Club of Menomonee Falls

Dennis Herman: Real Estate Agent in Menomonee Falls, WI

I joined the Rotary Club of Menomonee Falls, Wisconsin on June 10, 2009. This is a nonprofit organization of volunteers involved in a number of local and world wide projects. In the past they have raised and donated money to a number of local causes including parks, scholarship funds, food pantry, library and youth development. For more information you can visit the site at:

http://www.menomoneefallsrotary.org/Community_Projects.html


The Menomonee Falls Rotary meets at noon on Wednesdays at North Hills Country Club N73 W13430 Appleton Avenue. It's great to see people take time from their busy schedules to help others.

W147N8436 Manchester Menomonee Falls, WI SOLD by Kristin Johnston!!

Kristin Johnston, Remax Realty Center,  Realtor, Waukesha and Milwaukee Counties: Real Estate Agent in Waukesha, WI

Congratulations to the Roben's on their new home purchase!

PLEASE ASK ME ABOUT MY GIVE BACK PROGRAM, WHERE I MAKE A CONTRIBUTION TO AN ANIMAL SHELTER IN YOUR NAME UPON CLOSING!!! ALSO, CONTACT ME FOR INFORMATION ON MY REFERRAL PROGRAM TOO!

Petland -- Stop Selling Puppies!
HSUS MySpace Page | Stop Puppy Mills Website

Adopt a Pet Petfinder Link

Listen to my blog at http://podcasts.odiogo.com/kristins-blog/podcasts-xml.php

View Kristin Johnston's profile on LinkedIn animated twitter button See full size image

Personal blogs

kjohnston@remax.net , kjjj1234@gmail.com , 414-254-6647 www.activerain.com/kristinjohnston www.LinkedIn.com www.kristinjohnston.com www.ecademy.com www.realtor.com , www.naymz.com www.zoominfo.com www.facebook.com www.plaxo.com www.trulia.com www.myspace.com www.postlets.com , www.perfectnetworker.com www.loopnet.com www.konnects.com www.twitter.com www.wordpress.com www.congoo.com www.xing.com corporate website , and more.

And, as always, if you need real estate assistance in Waukesha County, Milwaukee County, or anywhere in SE Wisconsin, please don't hesitate to contact me, Kristin Johnston , at kjohnston@remax.net . Please make sure to visit my personal website as well at http://www.kristinjohnston.com and find everything from online markets , Buyer and Seller information, property searches , testimonials , calculators , my blog and more.

I look forward to the opportunity to work with you in the purchase or sale of your next home! Contact me today!

Contact Kristin Johnston, Remax Realty Center, Realtor, Waukesha, WI (Waukesha and Milwaukee Counties and All Of SE Wisconsin!)

Buying a New Home on the 10 Year Plan

Dennis Herman: Real Estate Agent in Menomonee Falls, WI

With the $8000 first time home buyer tax credit it seems many agents have forgotten the other incentives for buying a home.

The $8000 first time home buyer tax credit is only the beginning. What about the tax advantages saved every year? Paying a $100,000 mortgage may cost you $600 a month but remember, the interest and taxes are deductible. That may amount to $10,000 in deductions. If you are in the 15% tax bracket, this can put $1500 a year back in your pocket.

Hopefully we are pretty much hitting the bottom of the price declines in this recession. If we are at the bottom of pricing that could mean we may see an increase in home prices over the coming years. Lets imagine a 10 year scenario. Even if your investment looses money over the next two years you may be further ahead.

Year 1 loose 2% new market value $98,000.

Year 2 loose 2% new market value $96,000.

Year 3 no change market values $96,000

Year 4 increase 2% new market value $98,000

Year 5 increase 1% new market value $99,000

Year 6 increase 2% new market value $101,000

Year 7 increase 2.5% new market value $103,500

Year 8 increase 2.5% new market value $106,000

Year 9 increase 2.5% new market value $108,500

Year 10 increase 2.5% new market value $111,500

Even with modest gains you may show an increase in market value of over $10,000. Remember first time home buyers are also gaining an $8000 tax credit and receiving $1500 a year in tax refunds. This is a total of $33,000 in 10 years. If you looked at that in terms of an investment, you may show a total gain of 33%.

Of course this is theoretical, actual gains may be more or less.

Other incentives include:

Pride of ownership.
Access to home equity.
Freedom of expression.
Stability

Try and find a land lord that can offer you any of these.