1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home. 2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next... [Read more]
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that: Extended the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010. Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010. Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream. If you have specific questions... [Read more]
Dont wait to purchase a home! Waiting will cost you $$$ Thousands More This Spring. First time home buyers can get a tax credit for UP to $8000.00 with a binding contract dated before April 30, 2010. Also established is a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence on or before April 30, 2010. Qualified long term home owners must have owned and resided in the same home for at least five consecutive years of the eight years prior to the purchase date. For married taxpayers, both spouses are... [Read more]
Have you heard about the tax credit recently created to help first time home buyers or buyers that have not owned a home in over 3 years. This is only on FHA (Federal Housing Administration) loans and according to the secretary of H.U.D., home buyers will be allowed to use the $8,000 first-time homebuyer tax credit towards their DOWN PAYMENT on purchases financed by FHA loans. FHA will allow approved lenders, nonprofits, and government agencies to advance the funds in the form of interest free bridge loans that buyers would use for down payments. Buyers would repay... [Read more]
Houston, Texas and its surrounding area has seen a slight decline in sales and home prices but compared to other cities across the country our great town of Houston is doing well. There are lots of places to visit such as the Space Center, The Aquarium both in downtown Houston, and Kemah. The Houston Zoo. There is also Moody Gardens in Galveston and many other spectacular eating places. Houston is the workplace for many hospitals and medical research facilities along with the oil and gas industry and Space center facilities. If you would like more information regarding... [Read more]
