Wednesday October 28, 2009 Senators agreed to Extend the Homebuyers Tax credit. The credit was set to expire in just a few weeks, November 30, 2009 and that looming deadline created a freeze in the market.
Buyers who were hoping to take advantage of the credit lost their incentive to BUY NOW and in the month of September new home sales fell 3.6 percent.
For all you REALTORS and buyers out there, this extension will come as a great holiday gift! Not only was the credit extend until June 2010, but it was also expanded. The revised credit will now be available not only to first time buyers, a reduced credit of up to $6500 is now be open to repeat home buyers.
Hooray!!! We can all celebrate this extension….thank you US Senate!
-Shira
FREE SEMINAR!!!
AVOID FORECLOSURE!!
SAVE YOUR CREDIT SCORE!!!
BUY ANOTHER PROPERTY IN ONE YEAR!
HOW TO SELL YOUR HOME, SHORT SALE!
Realty World American Dream Realty
443 Webster Street, Monterey California
NOVEMBER 9, 2009
TIME : 7:00PM
CALL TO RESERVE YOUR SEAT
(831) 375-7355
Recently, the Californian newspapers website announced that a few roads in Monterey County are up for change in speed limits. For example, Reservation Road is up for a speed limit increase from the current 40 mph to 55 mph. On the other hand, Blackie Road is up for a lowering of speed limits, from the current 55 mph to 45 mph.
I am totally in support of the increase in speed limits for Reservation Road! I do not use Blackie Road much but if any of you out there would like to chime in on this issue these changes are scheduled to be discussed at 10:30am Tuesday when the Board of Supervisors meet.
To learn more about what is going on please click the below link:
http://www.thecalifornian.com/article/20091023/NEWS01/91023014/1002/rss
Thank you,
Shira
Buyers beware!!! Congress has just noted that tens and thousands of people have taken advantageof the first time home buyer tax credit fraudulently. In many cases the tax payer claimed the credit prior to them actually closing escrow on any property. In other cases individuals simply wrongfully claimed the tax credit. In one case the first time home buyer tax credit was claimed by a four year old child, according to Treasury Inspector General for Tax Administration J. Russell George.
He told a House panel that ‘more than 19,000 people filed 2008 tax returns or amended returns claiming the credit for homes they had not yet purchased.”
To read more about this issue:
http://news.yahoo.com/s/ap/20091022/ap_on_bi_ge/us_homebuyers_tax_credit
NOTE TO BUYERS:
The Department of the Treasury will conduct a full investigation for everyone who claims this tax credit to verify eligibility, so please make sure that you stay on the right side of things on this issue.
If there is some grey area for you or you are not sure if now is the right to claim the home buyers credit please contact your local tax professional prior to submiting your claim. I would hate to see any of you on the wrong side of the law!
-Shira
The California Department of Real Estate just announced that Advance Fees for Loan Modification Services is now ILLEGAL! So, to all you consumers looking for Loan Modification services if you are asked to pay any up front cost, run in the other direction because you are not dealing with an honest or lawful person!
As of October 11, 2009, advance Fees for Loan Modifications is Now Prohibited, effective immediately. This announcement provides great relief to Realtors, because for the past few years we have watched struggling home owners being taking for a ride by these Loan Modification specialist. We have been saying for years now that ‘charging struggling home owner giving them nothing but a bill and false hope should be a crime’ and thankfully now it is!!!!
To learn more about this new policy visit the California Department of Real Estate website or follow the below link:
http://www.dre.ca.gov/cons_adv_fees_alert.html
Hopefully, this information helps.
