The American dream is under attack. Or, at least, that’s the message Movoto heard from realtors when we discussed a tax break that encourages homeownership. The mortgage interest deduction, a tax break introduced in 1913, has come under fire from politicians on the right and the left. Most recently, it was from GOP presidential nominee…
The deadline for the 2010 Homebuyer’s tax credit seems like a distant memory now, but how will the future real estate market fare? Now that the frenzy has died down, agents and homebuyers alike are curious as to what a credit-less future means for them. Each market varies from city to city, but here is…
The real estate market and the new Medicare tax imposed by the Obama Administration seem mutually exclusive, but according to the National Association of Realtors (NAR), investors in real estate might be unexpectedly affected. The recently issued 3.8% tax on “unearned income” concerns only high income taxpayers; the IRS considers a high income taxpayer to…
Still thinking of buying a home while the 2010 Homebuyer’s tax credit is available? With tax season on the horizon, many buyers are setting their sights on saving as much as possible. Remember, first-time homebuyers are eligible for a tax credit of up $8,000 and repeat homebuyers are eligible for a tax credit of up…
After much impatient foot-tapping as the extension was reviewed by Congress and the House, future homebuyers should be thrilled with the news that President Barack Obama signed the bill proposed by Senate to extend the homebuyers’ tax credit today. The 2009 tax credit was set to expire November 30th; the looming due date was the…
On the tail-end of the anticipated extension of the Federal tax credit for first-time homebuyers—and the expansion of the credit to repeat homebuyers—the real estate markets of Portland and Eugene, Oregon have maintained a consistent percentage of distressed properties in their respective markets. The prospective extension may potentially add incentive to purchase a home in…
Advocates of extending the $8,000 tax credit for another year may get an early Holiday gift. Senate has reportedly reached a tentative deal to keep the tax credit for another year, as well as expand its reach to existing homeowners, according to The Wall Street Journal. Currently, first-time homebuyers with an income of $75,000 for…
The New York Times reported that Congress is attempting to pass a bill that will allow all buyers—not just first-time home buyers—to cash in on a $15,000 tax credit meant to stimulate the economy. This would increase the Federal Government’s tax credit program from a $15 billion stimulus to a possible whopping $100 billion dollar…
FHA Loans may get a face-lift in 2010. The U.S Housing and Urban Development Department(HUD) unveiled their fiscal year 2010 budget in May, and first-time home buyers may find themselves troubled with the decrease in taxpayer support for FHA’s single-family program.But future homebuyers should not despair; HUD expects that sufficient revenues for the FHA program…
California is giving home-buyers even more incentive to buy. In addition to the federal government’s $8,000 credit for first-time buyers, California is offering an extra $10,000 tax credit for buyers of new homes. Moreover, luxury homes are lingering on the market, but homes listed for less than $400,000 are selling rapidly, sometimes for a greatly…
