First-time homebuyers have been getting tax credits of up to $8,000 since January as part of the economic stimulus package enacted earlier this year. But with the program scheduled to expire at the end of November, the Senate voted Wednesday to extend and expand the tax credit to include many buyers who already own homes. The House is scheduled to vote on the bill Thursday.
Ok, I'm nervous but excited. I've made 2 verbal offers on two properties that I haven't seen, I've only seen pictures. One is a 10 until apt. complex in Slidell, La. Its fully rented and the owner is tired of bring a landlord. It was appraised for 750,000 and he is willing to contract it to me well below FMV. Once I lock it up and tack on my profit the buyer will still have 100,000 + in equity. The second potential deal is a 3bed 2 bath home in Jackson, MS that was once a duplex but the owner made it into a home. Now, this one needs total rehab.
I got a private message tonight from a newbie that is discouraged because things are going wrong so I thought I would write a post of my early days. Sometimes it helps people when see they are not the only one having a hard time getting started.
Yep, you heard right! We are putting together another useful foreclosure tool for all members of the site. Best of all... it's free.
We've heard the questions many times... How do I find out if property XYZ is in foreclosure or not? How do I find out which foreclosures in area ABC are in foreclosure?
Five Reasons the U.S. Doesn't Need More Home-Buyer Perks
By Jack Hough
November 2, 2009
Congress is working on a new and even more generous set of perks for house buyers. A tentative deal in the U.S. Senate would extend the closing deadline for an $8,000 subsidy for first-time buyers to July 1 from Nov. 30. It would also boost the program's income limits for singles to $125,000 from $75,000 and for couples to $250,000 from $150,000, and would offer a new $6,500 reward for existing homeowners who buy again. (More on the home buyer tax credit.)
The day turned into night and the wind began to change. There was a warm breeze that slowly began to chill. The weather began to rustle up some leaves on the ground. As nightfall came upon us you could see the yellow, orange, red and green leaves dancing on the streets and sidewalks. The trees began to sway in the wind, and the branches of the trees would reach down toward the ground. It felt as though, the change was in the air.