Selling Your Home
Selling your home can be a very frustrating and emotionally draining process. There are many factors involved but 2 of the key factors are price and exposure. Your home needs to be exposed to the maximum number of people possible in the minimum amount of time, to find those that are qualified and willing to purchase.
If your exposure is limited, your home may require more time to sell. This is self defeating to a degree because the more time your home is on the market, it gradually may become less likely to sell at the best price. A home on the market for long periods of time sometimes creates the impression with potential buyers that there is something wrong with this house and they may avoid it unless the price falls well below the market value. In fact, they may expect a much lower price because of this impression that a lengthy time on the market creates.
Therefore it is essential that your home is priced as near to fair market value as possible and receives the maximum amount of exposure. Selling your home can be very complicated and we have barely touched on only two of the factors involved.
You need a Realtor to find your fair market value and give your home the exposure it deserves. Call or e-mail Larry E. Thomas, and with my wife Jo Ann, we can help you in evaluating your home and selling at the best price in the least amount of time. 628-2903 or 545-9249 e-mail larrythomasbrep@msn.com
Tuesday, February 24, 2009
Wednesday, February 11, 2009
First Time Home Home Buyer want tax credit from IRS?
Who is eligible to claim a $7500 tax credit?
Check this out:
1. What's the definition of a first-time home buyer?
The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to this purchase.
2. How do you claim the tax credit?
You claim the tax credit on your Federal income tax return.
3. What type of home will qualify?
Any home purchased as a principle residence by an eligible first-time home buyer. (See Limits for MAGI)partial credits are available for individual taxpayers with a modified adjusted gross income of more than $95,000 and for married taxpayers filing joint returns with MAGI of more than $170,000)
4. What is a tax credit?
A tax credit is a dollar-for-dollar reduction in what the taxpayer owes. That means that a taxpayer who owes $7500 in income taxes and who receives a $7500 tax credit would owe nothing to the IRS, in this year.
5. Does the tax credit have to be paid back to the government? If so, what are the payback provisions?
Yes, at this time the tax credit must be repaid. Home buyers will be required to repay the credit to the government, without interest, over 15 years or when they sell the house, if there is sufficient capital gain from the sale. The home owner does not have to begin making repayments on the credit until two years after the credit is claimed. So if the tax credit is claimed on the 2008 tax return, a $500 payment is not due until the 2010 tax return is filed. If the home owner sold the home, then the remaining credit would be due from the profit on the home sale. If there was insufficient profit, the the remaining credit payback would be forgiven.
6. The first -time home buyer program should really be called a ZERO INTEREST Loan! Assuming an interest rate of 7%, that means the home owner saves up to $4200 in interest payments over a 15-year period.
Call me, Anita Wallace 671-4540, to find your dream home and claim your Zero Interest Loan
Who is eligible to claim a $7500 tax credit?
Check this out:
1. What's the definition of a first-time home buyer?
The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to this purchase.
2. How do you claim the tax credit?
You claim the tax credit on your Federal income tax return.
3. What type of home will qualify?
Any home purchased as a principle residence by an eligible first-time home buyer. (See Limits for MAGI)partial credits are available for individual taxpayers with a modified adjusted gross income of more than $95,000 and for married taxpayers filing joint returns with MAGI of more than $170,000)
4. What is a tax credit?
A tax credit is a dollar-for-dollar reduction in what the taxpayer owes. That means that a taxpayer who owes $7500 in income taxes and who receives a $7500 tax credit would owe nothing to the IRS, in this year.
5. Does the tax credit have to be paid back to the government? If so, what are the payback provisions?
Yes, at this time the tax credit must be repaid. Home buyers will be required to repay the credit to the government, without interest, over 15 years or when they sell the house, if there is sufficient capital gain from the sale. The home owner does not have to begin making repayments on the credit until two years after the credit is claimed. So if the tax credit is claimed on the 2008 tax return, a $500 payment is not due until the 2010 tax return is filed. If the home owner sold the home, then the remaining credit would be due from the profit on the home sale. If there was insufficient profit, the the remaining credit payback would be forgiven.
6. The first -time home buyer program should really be called a ZERO INTEREST Loan! Assuming an interest rate of 7%, that means the home owner saves up to $4200 in interest payments over a 15-year period.
Call me, Anita Wallace 671-4540, to find your dream home and claim your Zero Interest Loan
Monday, February 2, 2009
Billings No. 3 In The Nation!!!
by Larry Thomas
With all the bad real estate news we have all heard lately, it makes one wonder, how bad is it here ? Well, not so bad according to a national online real estate search firm, Housing Predictor. Housing Predictor predicts that 5 montana cities will be among the top 25 cites in the USA in appreciation values percentages. Billings at No. 3 in the nation leads the Montana pack with a forecast of 3.1 % appreciation in home values for 2009, folowed by Bozeman at No. 9 , Great Falls No. 13, Livingston No. 14 and Missoula No. 16. So the forecast for Montana in general and Billings in particular looks pretty good. Just think of the top 25 in the nation, Montana has 5 which is 1/5 of the total in the whole USA !!!
Referring back to an earlier blog " Why Buy Now" that all real estate is local and the national market has very little relation to the local market, it looks like Billings is a good place to sell as well as buy.
Call me for your help in finding your new home or listing or present home.
Larry Thomas 628-2903
by Larry Thomas
With all the bad real estate news we have all heard lately, it makes one wonder, how bad is it here ? Well, not so bad according to a national online real estate search firm, Housing Predictor. Housing Predictor predicts that 5 montana cities will be among the top 25 cites in the USA in appreciation values percentages. Billings at No. 3 in the nation leads the Montana pack with a forecast of 3.1 % appreciation in home values for 2009, folowed by Bozeman at No. 9 , Great Falls No. 13, Livingston No. 14 and Missoula No. 16. So the forecast for Montana in general and Billings in particular looks pretty good. Just think of the top 25 in the nation, Montana has 5 which is 1/5 of the total in the whole USA !!!
Referring back to an earlier blog " Why Buy Now" that all real estate is local and the national market has very little relation to the local market, it looks like Billings is a good place to sell as well as buy.
Call me for your help in finding your new home or listing or present home.
Larry Thomas 628-2903
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