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Tax credits for homeowners creates ‘swing’ in pending home sales index

February 2, 2010 By Leave a Comment

Down, up, down and up again.

Real estate is a roller coaster right now — you never know what’s going to happen from month-to-month on a consistent basis.

Today, National Association of Realtors® released its latest report, indicating that pending sales on existing homes unexpectedly rose 1 percent in Dec. 2009 compared to the previous month.

Lawrence Yun, a NAR economist, attributes the volatility to the tax credits ($8,000 for first timers and $6,500 for existing) currently available to homeowners/buyers.

Here’s a snip:

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Filed Under: 6500 tax credit, 8000 tax credit, Foreclosure Listings, National Foreclosure Data, National Foreclosure Listings

$8,000 tax credit extension from Foreclosure.com special promo/code offer

December 7, 2009 By 2 Comments

blog promo

You’ve got more time!

For the next three months (Dec. 7, 2009 to March. 31, 2010) we are extending a special discount offer for our blog readers and Twitter followers to search our nationwide real estate database of more than 1.8 million distressed real estate listings.

We refer to it as the “Tax Credit Countdown.”

The federal government recently extended the popular $8,000 first-time homebuyers tax credit program, which is now set to expire on April 30, 2010. It was originally scheduled to expire on Nov. 30, 2009.

So all you procrastinators out there still have a few more months to take advantage of this limited-time savings. What’s more, existing homeowners who want to move up, down or around can cash in on a $6,500 tax credit (For more details click here).

An additional four months might seem like enough time to get in on the action; however, finding, financing and then closing on a home can take as much as 90 days. And if it’s a short sale then the process will likely take longer … much longer.

So if you have any intentions of saving as much money as possible on the home of your dreams then the time to act is right now.

We decided to sweeten the pot several months ago with a special promotional offer to hopefully provide you with even more incentive to search for the best real estate deals in your area before the prices start climbing back up. It expired along with the original tax credit deadline (Nov. 30, 2009).

But since it has been extended, we, too, decided to follow suit!

Foreclosure.com is already FREE to search for seven days — no strings attached, cancel at anytime. However, sometimes house hunters need more time to comb through and visit all the awesome deals right in their backyards.

Therefore, we’re slashing our monthly subscription — already among the cheapest in the industry — by 30 percent! That’s savings, on top of tax credits, on top of more savings (you can find homes up to 50 percent off on Foreclosure.com every day).

So how do you get started? It’s simple.

Just visit this registration page: www.foreclosure.com/registration.html?rsp=0 and insert the phrase “taxcredit” (no quotes … just taxcredit) where it says “Click here to enter a promo code” (see screen shot in the extended entry).

That’s it!

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Filed Under: 6500 tax credit, 8000 tax credit

$6,500 tax credit for current homeowners coming soon

November 5, 2009 By 3 Comments

6500 Tax Credit for Current Homeowners

Tomorrow (Friday, Nov. 6), to be precise.

The House of Representatives today overwhelmingly (403-12) passed the initiative, which also extends the $8,000 tax credit for first-time homebuyers until April 30, 2010.

President Barack Obama is expected to officially sign off on the legislation before the upcoming weekend.

So what’s it all mean?

Essentially, if you have been living in your current home for at least five consecutive years (and you own it, of course), the federal government will reward you with up to $6,500 to purchase a new home. However, you must close on the new house no later than June 30, 2010, to receive the bonus.

It’s a great incentive for empty nesters, downsizers, upgraders and basically anyone else who wants to relocate or enjoy a change of scenery … and get rewarded for it.

Get a head start and begin your new home search today at Foreclosure.com. We have the best real estate deals in your area featured in our comprehensive database of more than 2 million nationwide listings.

Happy hunting … and congratulations in advance!

Filed Under: 6500 tax credit, 8000 tax credit, Foreclosure Deals, Foreclosure Investment Opportunities, Foreclosure Listings, Free Foreclosure List, Real Estate Investing, REO Deals, REO Properties

First time home buyer tax credit extension update

November 4, 2009 By 5 Comments

taxCreditMoney

It looks like first time homebuyers will indeed have more time to take advantage of the $8,000 tax credit, which was scheduled to expire on Nov. 30, 2009, according to the New York Times.

Legislation to extend the popular program until April 30, 2010,  recently cleared a big hurdle in the U.S. Senate, receiving unanimous support among lawmakers (85-0). The initiative could land on President Obama’s desk for final approval at the end of this week or early next if it passes its next stop in the House of Representatives.

In addition to first timers, the new measure would reward existing homeowners — those who have lived at their current addresses for at least five years — with $6,500 tax credits for buying new homes.

And last but not least, the new legislation will raise the income limits for eligibility ($125,000 a year for individuals and $225,000 for couples), ensuring that more people can take advantage of the incentive.

Stay tuned for additional updates on this developing situation. For more background on the $8,000 tax credit for first time homebuyers click here.

Filed Under: 6500 tax credit, 8000 tax credit, Tax Credits
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