Real Estate Teams vs. Real Estate Agent
The real estate business is one of the most highly competitive job markets. And all real estate agents are in fact small business owners. They have an ever-growing client list, new leads, open houses, scheduling, marketing, budgeting, mailers, websites, and a never-ending list of responsibilities that seems to demand more and more time. It’s a fast-paced competitive housing world out there. Without the best tools and resources it’s possible to lose your clients to a more established realtor or realty team machine. Read the rest of this entry »
All homeowners have been renters at one point. Right before a renter will make a move up to home ownership and become a first time homeowner, they will talk to a mortgage lender like me to see how much of a mortgage they might be qualified. What do you think the rules are for a renter as far as how much mortgage they can qualify for? They are the same rules as anyone else. The debt ratio limits are the same. The income requirements are the same. The credit score requirements are the same.
The one thing that is different is Read the rest of this entry »
The Homebuyer Tax Credit was passed earlier this year as part of the government stimulus package. Credit for those purchasing a home as their primary residence is worth 10% of the purchase price, up to $8,000. This credit is only available to those who have not owned a home for the previous three years. It can be claimed on your 2009 tax return. If the credit exceeds your tax liability, you will be refunded the difference.
If you move out of the residence within 36 months or cease using it as your primary residence, you have to repay the credit in full on your tax return for the year you move out.
The purchase of your home must be completed by November 30, 2009 when the Homebuyer Tax Credit will expire.
Many analysts fear that with the end of the tax credit, any resurgence in the housing market will slow down significantly or come to an end. So, it is worth noting that there is support in Congress and in the industry for an extension of the tax credit through next year. Rep. Johnny Isakson, R-GA, is leading the push in Congress for legislation which would include not only an extension, but also would raise the credit to $15,000, remove income restrictions and include non first time home buyers. Stay tuned to this blog for more.