1. Eight grand, new buyers: The tax credit included in the economic stimulus legislation is much narrower than the $15,000 proposal. This credit is equivalent to 10 percent of the purchase price of the home--although it's capped at $8,000--and applies only to first-time home buyers and principal residences. But unlike an earlier $7,500 home buyer tax credit, this one does not have to be repaid.
2. First time buyers defined: For the purpose of this legislation, a "first-time home buyer" is someone who hasn't owned a principal residence for three years before buying a house. (The date of purchase is considered the day that the title is transferred.) That means if you've owned a vacation home--but not a principal residence--within the past three years, you would still qualify for the credit.
3. 2009 buyers only: Only those who purchase a home on or after January 1 and before December 1, 2009 are eligible for the credit. Anyone who bought a home last year won't be able to take advantage of it.
4. Income limits: The tax credit is subject to income limitations. Single buyers need a modified adjusted gross income of $75,000 or less to qualify for the full credit, that's $150,000 for married couples. Those earning more than these thresholds may be eligible for reduced credits.
5. Refundable: Because the tax credit is "refundable," qualified buyers can take advantage of it even if they don't have much tax liability.
6. Recapture: Buyers have to own the home for at least three years in order to capitalize on the credit. If they sell the home before then, they will have to return the credit to the government. (Exceptions will be made in certain cases, such as death or divorce.)
Showing posts with label more real estate....as usual. Show all posts
Showing posts with label more real estate....as usual. Show all posts
Wednesday, February 18, 2009
Wednesday, February 11, 2009
The American Recovery and Reinvestment Act of 2009
The American Recovery and Reinvestment Act of 2009, the Treasury’s financial stability plan, and other stimulus efforts for families and housing.
The National Association of Realtors® hailed the Senate for passing its stimulus bill that expands the homebuyer tax credit, an important housing component that will help shrink housing inventory, bring stability to home values and move the country closer to an economic recovery.
The bill now heads to conference committee to reconcile differences between the Senate and House versions.
Congressional leaders hope to have the bill ready for President Obama’s signature by the weekend. NAR will continue to press the need for housing stabilization measures with Congress and the Obama administration to make housing a primary component of the government’s economic recovery plans.
Additionally, NAR commended the Obama Administration for the financial stability plan announced today by Treasury Secretary Timothy Geithner.
Geithner stressed the importance of improving the housing market by reducing foreclosures, making credit more available and by bringing mortgage interest rates down.
NAR believes that many of the actions called for in the Treasury plan should result in lower mortgage rates and fewer foreclosures.
About the tax credit, McMillan said, “The credit of up to $15,000 for homebuyers is a critical provision in the Senate bill that will result in approximately 1 million additional home purchases this year,” McMillan said. The provision also eliminates the repayment feature of the earlier tax credit, makes the credit available for all purchases of primary residences and extends the credit for one full year. These are all provisions NAR has continually called for in any federal stimulus plans. Review that…..
“This is a great effort by the Senate and a major step in the right direction, but our work is far from finished. Much more needs to be done in the coming days and weeks to bring stability to the housing market and to begin an economic recovery,” said McMillan. (courtesy of Realtor.org)
The Treasury’s plan anticipates lower interest rates through the ongoing Federal Reserve program to purchase mortgage-backed securities. The Treasury has also agreed to buy commercial MBS, a bold step in helping preserve the commercial real estate sector.
The National Association of Realtors® hailed the Senate for passing its stimulus bill that expands the homebuyer tax credit, an important housing component that will help shrink housing inventory, bring stability to home values and move the country closer to an economic recovery.
The bill now heads to conference committee to reconcile differences between the Senate and House versions.
Congressional leaders hope to have the bill ready for President Obama’s signature by the weekend. NAR will continue to press the need for housing stabilization measures with Congress and the Obama administration to make housing a primary component of the government’s economic recovery plans.
Additionally, NAR commended the Obama Administration for the financial stability plan announced today by Treasury Secretary Timothy Geithner.
Geithner stressed the importance of improving the housing market by reducing foreclosures, making credit more available and by bringing mortgage interest rates down.
NAR believes that many of the actions called for in the Treasury plan should result in lower mortgage rates and fewer foreclosures.
About the tax credit, McMillan said, “The credit of up to $15,000 for homebuyers is a critical provision in the Senate bill that will result in approximately 1 million additional home purchases this year,” McMillan said. The provision also eliminates the repayment feature of the earlier tax credit, makes the credit available for all purchases of primary residences and extends the credit for one full year. These are all provisions NAR has continually called for in any federal stimulus plans. Review that…..
“This is a great effort by the Senate and a major step in the right direction, but our work is far from finished. Much more needs to be done in the coming days and weeks to bring stability to the housing market and to begin an economic recovery,” said McMillan. (courtesy of Realtor.org)
The Treasury’s plan anticipates lower interest rates through the ongoing Federal Reserve program to purchase mortgage-backed securities. The Treasury has also agreed to buy commercial MBS, a bold step in helping preserve the commercial real estate sector.
Thursday, June 26, 2008
Synthetic Stucco Question came in on the show.....and I wanted to provide this link >>>>
It is beneficial to to through what it is, and how to maintain it. I thank you for your questions and I hope this is helpful. Contact me if you would like to talk about it further....
EIFS, Synthetic Stucco
What is EIFS?
EIFS stands for Exterior Insulation and Finish Systems. The product is also called synthetic stucco, and refers to a multi-layered exterior finish that's been used in European construction since shortly after World War II, when contractors found it to be a good repair choice for buildings damaged during the war. The majority of repairs to European buildings were to structures constructed of stone, concrete, brick, or other similar, durable materials.
EIFS in North America
North American builders began using EIFS in the 1980's, first in commercial buildings, then applying it as an exterior finish to residences--mostly wood frame houses--using the same techniques that had been successful in Europe.
There are three layers to EIFS
Inner Layer Foam insulation board that's secured to the exterior wall surface, often with adhesive.
Middle Layer A polymer and cement base coat that's applied to the top of the insulation, then reinforced with glass fiber mesh.
Exterior Layer A textured finish coat.
EIFS layers bond to form a covering that doesn't breathe. That's fine when no moisture is present behind the covering, but if moisture seeps in it can become trapped behind the layers. With no place to go, constant exposure to moisture can lead to rot in wood and other vulnerable materials within the home.
What had worked well as an exterior shell for concrete and stone became a problem when used on wood. Moisture related problems lead to individual and class action lawsuits by consumers.
Synthetic Stucco vs. Traditional Stucco
* Synthetic stucco is soft and sounds hollow when tapped.
* Traditional stucco is hard and brittle, and sounds solid when tapped.
Maintaining EIFS
* Any opening, such as door and window frames and the areas around flashings, must be sealed to prevent water from seeping behind the EIFS.
* Gutters should be kept clean and positioned to drain away from the house.
* Foam should not extend below grade.
* Items that penetrate the stucco must be sealed.
In other words, no moisture should be able to seep behind the EIFS.
Signs of EIFS Problems
* Mold or mildew on the interior or exterior of the home.
* Swollen wood around door and window frames.
* Blistered or peeling paint.
* Cracked EIFS or cracked sealant.
EIFS Today
Newer EIFS systems include a drainage arrangement to help keep moisture from being trapped behind the covering. Ask a trusted home builder for details about contemporary EIFS.
for more on the radio show go to www.door2doorkc.com
EIFS, Synthetic Stucco
What is EIFS?
EIFS stands for Exterior Insulation and Finish Systems. The product is also called synthetic stucco, and refers to a multi-layered exterior finish that's been used in European construction since shortly after World War II, when contractors found it to be a good repair choice for buildings damaged during the war. The majority of repairs to European buildings were to structures constructed of stone, concrete, brick, or other similar, durable materials.
EIFS in North America
North American builders began using EIFS in the 1980's, first in commercial buildings, then applying it as an exterior finish to residences--mostly wood frame houses--using the same techniques that had been successful in Europe.
There are three layers to EIFS
Inner Layer Foam insulation board that's secured to the exterior wall surface, often with adhesive.
Middle Layer A polymer and cement base coat that's applied to the top of the insulation, then reinforced with glass fiber mesh.
Exterior Layer A textured finish coat.
EIFS layers bond to form a covering that doesn't breathe. That's fine when no moisture is present behind the covering, but if moisture seeps in it can become trapped behind the layers. With no place to go, constant exposure to moisture can lead to rot in wood and other vulnerable materials within the home.
What had worked well as an exterior shell for concrete and stone became a problem when used on wood. Moisture related problems lead to individual and class action lawsuits by consumers.
Synthetic Stucco vs. Traditional Stucco
* Synthetic stucco is soft and sounds hollow when tapped.
* Traditional stucco is hard and brittle, and sounds solid when tapped.
Maintaining EIFS
* Any opening, such as door and window frames and the areas around flashings, must be sealed to prevent water from seeping behind the EIFS.
* Gutters should be kept clean and positioned to drain away from the house.
* Foam should not extend below grade.
* Items that penetrate the stucco must be sealed.
In other words, no moisture should be able to seep behind the EIFS.
Signs of EIFS Problems
* Mold or mildew on the interior or exterior of the home.
* Swollen wood around door and window frames.
* Blistered or peeling paint.
* Cracked EIFS or cracked sealant.
EIFS Today
Newer EIFS systems include a drainage arrangement to help keep moisture from being trapped behind the covering. Ask a trusted home builder for details about contemporary EIFS.
for more on the radio show go to www.door2doorkc.com
Tuesday, June 24, 2008
What did that house sell for?
Quickly Find Out What that Home Down the Street Sold For, By Email, for Free.
If you are considering selling your home, you are probably wondering what other homes in the area are selling for.
There might be one home in particular that you'd like to know the sale price on, or you might be interested in all the homes that have sold recently in your neighborhood. I can always help!
I can tell you exactly what any home sold for in your area. I will furnish you with a list of homes that have recently sold on your street or in your neighborhood. I can also tell you about homes similar to yours that are currently for sale.
This service is entirely FREE, without obligation. As a top real estate broker, this is part of the service that I provide to home sellers on a daily basis.
Find out what a home or property sold for, by email, for free! It's my job to help you determine real estate values in Leawood, Lee's Summit and Kansas City! There's no obligation, and I promise to get back to you quickly...
David Van Noy Jr.
(816) 536-7653 CELL
-------------
(913) 345-3080 office
--------------
EMAIL: davidv@prukc.com
Gmail: davidvannoyjr@gmail.com
BlackBerry PIN: 31A7895A
WEB: www.davidvannoyjr.com
If you are considering selling your home, you are probably wondering what other homes in the area are selling for.
There might be one home in particular that you'd like to know the sale price on, or you might be interested in all the homes that have sold recently in your neighborhood. I can always help!
I can tell you exactly what any home sold for in your area. I will furnish you with a list of homes that have recently sold on your street or in your neighborhood. I can also tell you about homes similar to yours that are currently for sale.
This service is entirely FREE, without obligation. As a top real estate broker, this is part of the service that I provide to home sellers on a daily basis.
Find out what a home or property sold for, by email, for free! It's my job to help you determine real estate values in Leawood, Lee's Summit and Kansas City! There's no obligation, and I promise to get back to you quickly...
David Van Noy Jr.
(816) 536-7653 CELL
-------------
(913) 345-3080 office
--------------
EMAIL: davidv@prukc.com
Gmail: davidvannoyjr@gmail.com
BlackBerry PIN: 31A7895A
WEB: www.davidvannoyjr.com
Sunday, February 4, 2007
The Radio Show
The Radio Show
It has been a wonderful experience to reach many people during the radio show. I am trying to provide free advice on Saturday mornings on 1510 Hot Talk KCTE as a service and a means for meeting NEw clients. It has also been a wonderful opportunity for me to meet some very influential Real Estate Professionals like Mike Brown, Tom French and David Block who have all been guests on the show. I have had the opportunity to chat LIVE with mayoral candidate John Fairfield as well. Tune in for your chance to win a great prize from Jack Stack BBQ. You can see what we give away on www.jackstackbbq.com, it is the BBQ Lover's Gift Pack. Stay tuned every week, as I will be prospecting live on air.......calling For Sale By Owners and trying to land an appointment with a new client. You never know what is going to happen!
It has been a wonderful experience to reach many people during the radio show. I am trying to provide free advice on Saturday mornings on 1510 Hot Talk KCTE as a service and a means for meeting NEw clients. It has also been a wonderful opportunity for me to meet some very influential Real Estate Professionals like Mike Brown, Tom French and David Block who have all been guests on the show. I have had the opportunity to chat LIVE with mayoral candidate John Fairfield as well. Tune in for your chance to win a great prize from Jack Stack BBQ. You can see what we give away on www.jackstackbbq.com, it is the BBQ Lover's Gift Pack. Stay tuned every week, as I will be prospecting live on air.......calling For Sale By Owners and trying to land an appointment with a new client. You never know what is going to happen!
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