For almost two years, the Federal Goverment has offered first-time home buyers a tax credit if they purchase a home.  The parameters of the tax credit have changed quite a bit from 2008 to 2009 so there is a good chance that you are swimming in a sea of information on the internet.  To help break it down for you, to follow is a quick overview of the different programs:

 Summary of the First-Time Homebuyer Credit

2008: First-time home buyers would receive a tax credit of up to $7,500.  The credit would be PAID BACK to the government every year at tax time for 15 years (i.e you would pay back $500 per year). 

January thru November 2009: First time home buyers receive a tax credit of up to $8,000.  The credit DOES NOT need to be paid back.  Qualifying buyers must not make more than $75,000 per year ($150,000 for a married couple).  Buyers must PURCHASE their property by November 30, 2009.

December, 2009 thru April, 2010: First-time home buyers receive a up to $8,000 for first-time buyers, the credit DOES NOT have to be paid back.  Qualifying buyers can make up to $125,000 per year ($250,000 for a married couple).  Buyers must be UNDER CONTRACT on their home by April 30, 2010 and CLOSE (i.e. purchase) home by June 30, 2010.

A NEW INCENTIVE FOR CURRENT HOMEOWNERS (i.e. REPEAT HOME BUYERS)

Nov 7, 2009 – April 2010:  Home buyers who have lived in their home for 5 of the past 8 years can get up to $6,500 if they purchase a new home.  As above, the home buyer does NOT need to pay back the credit!  The new Federal tax credit is also known as the “Repeat Buyer” or “Move up Buyer” Tax Credit.  >>> GET MORE INFORMATION ABOUT THIS TAX CREDIT

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  Thank you for visiting our Atlanta Georgia Real Estate Blog!

Posted by:  Kerry Lucasse – Atlanta GA Real Estate Agent – Atlanta Home Search Team
The ATL Home Search Team is part of Keller Williams Realty,
specializing in Intown Atlanta Real Estate, Foreclosures and Bungalows & Historic Homes

CALL US ANYTIME AT 404.432.1844

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It’s been a fantastic year of recognition for my company, Keller Williams Realty, thanks to the dedication of the agents and the stellar leadership.

Here are just a few of the recent accolades for KW…

** Keller Williams Realty was ranked as the No. 1 real estate franchise on the 31^st Annual Franchise 500 list by Entrepreneur magazine.

** Keller Williams was also voted the Most Recognizable Brand of Real Estate Franchises for 2009 in an industry-wide survey for the Swanepoel TRENDS Report.    

** Keller Williams Realty also received the highest overall satisfaction ratings from home buyers among the largest full-service real estate firms from J.D. Power and Associates for the second year in a row.

Personally, Keller Williams has been a tremendous asset to my business, especially in a shifting market.  With the top-notch education, daily motivation and one-on-one assistance, this has been my best year in the real estate business!

If you are an Atlanta real estate agent and are thinking of making a change in 2010, please give me a call — I would love to talk with you about Keller Williams.

If you are thinking of buying or selling a home in 2010, I would highly recommend that you interview at least 2 or 3 agents — and be sure that at least one of those agents is with Keller Williams.  I know you’ll be impresssed!

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  Thank you for visiting our Atlanta Georgia Real Estate Blog

Posted by:  Kerry Lucasse – Atlanta GA Real Estate Agent – Atlanta Home Search Team
The ATL Home Search Team is part of Keller Williams Realty,
specializing in Intown Atlanta Real Estate, Foreclosures and Bungalows & Historic Homes

CALL US ANYTIME AT 404.432.1844

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The National Association of REALTORS  just announced that in July home sales are UP 7.2% – the largest monthly increase in at least 10 years.  Experts say this is primarily due to all of the first time home buyers rushing out to purchase their first home and take advantage of the $8000 tax credit that expires on November 30, 2009.

>>  Read the article from Yahoo Finance – “July Home Sales Surge”

>>  Read the article from MSNBC –”Home Sales Soar 7.2 percent”

 If you are a potential first time home buyer in Atlanta and are still on the fence, please do not miss this fantastic opportunity.  In addtion to the Federal Tax Credit of $8000, the interest rates are still fantastic. 

PLEASE NOTE:  If you want to take advantage of the tax credit, there are only 97 days left!  Typically it takes 30 to 40 days to purchase the home once you are under contract, so you really only have about 60 days to find your dream home.

If you have ANY questions about the home buying process in Atlanta or Decatur, call the Atlanta Home Search Team anytime at 404.432.1844.  About 70% of the buyers we are working with are “first-timers” and we would love to help you find your first place.

Thank you for visiting our Atlanta Real Estate Blog! 

Kerry Lucasse – Atlanta GA Real Estate Agent – Atlanta Home Search Team
The ATL Home Search Team is part of Keller Williams Realty,
specializing in Intown Atlanta Real Estate, Condos, Lofts and Historic Homes

If you are thinking of Buying a Home, Condo or Loft, call us anytime at 404.432.1844.

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Atlanta Home Search – Buying and Selling your Atlanta home

I’m sure many of you have been listening to the news and have heard about the new “Making Home Affordable” plan. 

The question is… ARE YOU ELIGIBLE to REFINANCE USING THIS PLAN? 

The good news is that you can quickly find out with the new Making Housing Affordable government website.  They have an online questionnaire that only takes a minute or two to complete and you get an instant response.

Visit the website at:  www.MakingHomeAffordable.gov

There are actually two different programs that are under the “Making Home Affordable” plan — one allows you to refinance if you no or little equity in your home but you are current on your mortgage payments (see the refinance questionnaire). 

The other program is for people who are behind in their mortgage payments and may qualify for a “loan modification” (see the mortgage modification questionnaire).

This may be a challenging and stressful time for you and your family, so please take advantage of the new mortgage assistance programs available to you so you can get back on your feet.  If you don’t qualify for the programs above,  please reach out to your mortgage holder or a local real estate professional in your area… help is available!

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INFORMATION BROUGHT TO YOU BY: 

Kerry Lucasse  ::  Atlanta Real Estate Consultant  ::  Keller Williams Realty  ::  404.432.1844

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