Thursday, December 10, 2009

Purchasing a Home: Is the Timing Right?

As we prepare to close out the year I think most of us would agree that 2009 has been a year of uncertainty. Perhaps you are one of the many individuals that has put off buying a new home or moving up because of all of the uncertainty. Yet certain tax credits have been in place to make the purchasing of a new home possible for individuals that qualify for its benefits.
Congress recently passed the bill, the Worker, Homeownership and Business Act of 2009 which extended the First-Time Homebuyer Credit. Don't let the long title put you off in trying to understand its benefits. The bill opens up new opportunities for existing homeowners residing five or more years in their principal residence as well as extending the time to purchase for the first-time buyer (those not owning a principal residence in the past three years).
Some of the things you might want to know about the credit itself and qualifying for it are relatively straight-forward. For example, you must buy or be in a binding contract to purchase a principal residence on or before April 30, 2010. If you do find yourself in a binding contract on April 30th then you must close the deal on or before June 30, 2010 to remain eligible.
Existing homeowners that qualify are eligible for a maximum credit of $6,500. A $3,250 limit applies for married couples that file separately. The maximum credit of $8,000 remains in effect for first-time homebuyers who qualify.
If you are considering purchasing a home please feel free to call me with your questions or concerns and we can discuss the possibilities. Working together we can make a good start for 2010. Extending warm wishes for you and your family during this holiday season.

Sunday, December 6, 2009

What Any Respectful Grandparent Would Do

It's the wonderful holiday season and wanting to share it with grandchildren is a desire of most grandparents. As any respectful grandparent will tell you there are more than a few things they will do for a grandchild that they might not of done for the child. Perhaps it's because they realize that it's only a few, short years until they are grown and out of the house. Or maybe it's knowing that they can spoil them and send the grandchild home. Whatever the reason life with grandchildren can be fun and funny!
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