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So, we have the holidays and our first big (and hopefully last) snow of the winter season behind us. So... let's think Spring! What about it?
Well, the rumors proved to be right. Congress did extend and expand the home buyer tax credits. Both the First-time Home Buyer Tax Credit ($8000) and the Move-up/Repeat Home Buyer Tax Credit ($6500) are in full swing. So much so that the deadline for taking advantage of these credits will soon be upon us. You must have a binding, accepted contract in place by April 30, 2010, to close no later than June 30, 2010. So, you see why we are thinking about Spring!
If you have had thoughts of selling your home and you've lived in it at least 5 of the last 8 years, then you may qualify for the Move-up/Repeat Home Buyer Tax Credit. If you're also thinking that you may take a hit on the sell of your home, this could help off-set that. In addition, you may gain on the purchase of your next home and with getting a low-rate mortgage loan, this may turn out to be the ideal time for you to consider moving.
Of course, first-time home buyer's have had a tax credit program in place for awhile. Still, if you know of a renter who may just now be getting in a position to purchase a home, they can still jump on the band wagon and take advantage of this credit. Even if they don't purchase their dream home, there are plenty of modestly priced condominiums out there that would allow them to own their home instead of renting from a landlord.
To check out more details about the tax credit programs, you can visit "Frequently Asked Questions" here.
Know of someone who might be interested in seeing this newsletter? Forward it to them here!
Thanks!
Marty and Judy
The Mudd Team
p.s. If you know of a potential home buyer or seller, please send them our way! We'll make the entire process as smooth as possible! Thanks!
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Real Estate Stumper:
A Tax Credit Question: An unmarried couple decide to buy a house. One of them qualifies for the $8000 First Time Home Buyer Tax Credit, the other qualifies for the $6500 Move-up/Repeat Home Buyer Tax Credit. How much credit can they claim?
a) $14,500
b) $8,000
c) $6,500
d) $4000 each
Think you have the answer? Go to the bottom of this newsletter to find out!
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Speaking of Tax Credits...More good news for the Louisville area:
GE gets $24.8 million in U.S. tax credits for Appliance Park
By Patrick Howington, Courier-Journal.com / January 11, 2010
GE has been awarded $24.8 million in federal tax credits for three clean-energy manufacturing initiatives at Appliance Park in Louisville.
The retooling will not mean additional jobs at Appliance Park, said Earl Jones, senior counsel for GE's Louisville-based Appliances & Lighting division. But it will require an investment of about $70 million in new equipment, he said. The other two local projects, announced last year, involve producing energy-efficient water heaters and a new energy-efficient clothes dryer - projects that will create about 830 new jobs by around 2012. Read More...
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Wall Street Journal's House of the Day |
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Wall Street Journal / Jan. 13, 2010
Hexogonal 3-story home complete with heliopad and airplane hangar. You know the grass is always greener on the other....uh, no it isn't. Be sure to view the aerial photo in the slideshow! Click here....Read More...
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New Rules Help Borrowers at Closing
By Lisa Scherzer | SmartMoney / Jan 11, 2010
Plenty of home buyers have found themselves at the closing table, ready to sign the myriad documents that will officially make them new homeowners--only to get nasty sticker shock. What was originally supposed to cost them, say, $2,500 in closing costs, has turned into $3,000.
But on Jan. 1, new federal rules adopted by the Department of Housing and Urban Development took effect, mandating the use of a redesigned, simplified Good Faith Estimate form. The idea behind the revision: to avoid those closing-table surprises. Read More...
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Commercial Real Estate: Still Awaiting a Recovery
By George Ratiu, Research Economist / Infocus
The third quarter of 2009 brought signs of relief to a U.S. economy fighting to emerge from what has been coined the Great Recession. Most measures of economic activity moved in upward trends-gross domestic product turned positive after four quarters of decline; industrial production gained; stock market indices have been surging.
But while we have seen some positive developments in the residential real estate sector, commercial real estate continues to lag... Read More...
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About The Mudd Team
Thank you for reading our Real Estate eNewsletter. Let us know if we can answer any questions or concerns regarding your particular needs or the general real estate market. We are life-time residents with over 20 years of full-time real estate experience. Professionals, working hard and honestly, with a promise to treat you as we would want to be treated. Give us a call or email us any time!
Sincerely,
Marty and Judy
The Mudd Team
RE/MAX Associates
Marty's Cell: (502) 550-1826
Judy's Cell: (502) 550-1827
Direct Office: (502) 254-1114
Email Marty: Marty@TheMuddTeam.com
Email Judy: Judy@TheMuddTeam.com
Broker, Realtor, ABR, ePro Certified
Certified DRS Agents (Physician Approved!) |
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FREE COMPARABLE MARKET ANALYSIS
OF YOUR HOME
Not sure what your home's value is? Let us do a FREE home market analysis, showing you what properties have sold in your area that most closely match your home's features,
what homes are currently your competition,
and what you can do to beat out the rest in selling your home.
Commitment Free! Absolutely no obligation. We Guarantee It!
(Pass this on to your Friends and Family members who might be thinking of selling their home!) |
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Real Estate Stumper:
The Question:
A Tax Credit Question: An unmarried couple decide to buy a house. One of them qualifies for the $8000 First Time Home Buyer Tax Credit, the other qualifies for the $6500 Move-up/Repeat Home Buyer Tax Credit. How much credit can they claim?
A) $14,500
B) $8,000
C) $6,500
D) $4000 each
The Answer:
B or D. They would qualify for both programs but can not receive any more than $8000 total in tax credit. It could be divided $4000 each, $6500 + $1500, or some other split--as long as it does not exceed $8000.
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Monthly Sales Stats |
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Homes Sold by Area
(Area Region definitions are below)
December 2009
Area 0: 4
Area 1: 60
Area 2: 68
Area 3: 39
Area 4: 45
Area 5: 52
Area 6: 92
Area 7: 88
Area 8: 64
Area 9: 47
Area 10: 38
Area 11: 53
Area 12: 11
Area 13: 3
Area 15: 3
Area 16: 35
Area 17: 0
Area 18: 0
Area 19: 16
Area 20: 34
Area 21: 23
Area 29: 13
Area 30: 32
Area 31: 13
Area 34: 1
Total SOLDS:
August: 1020
September : 926
October: 1095
November: 1102
December: 834
New Listings in
August: 2317
September: 2218
October: 2165
November: 1801
December: 1512 |
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Area Regions |
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Area 0:
Central Dtown, Old Louisville
Area 1:
Dtown, OldLouisville,
Shively,West Louisville
Area 2:
Butchertwn/Highlands/
Germantwn
Area 3:
Clifton/Crescent Hill/St. Matthews
Area 4: PRP/ValleyStation/Shively
Area 5: Auburndale/Fairdale/Iroquois Park/Shively
Area 6: Buechel/Highview/Okolona/Fern
Creek
Area 7:
FernCreek/Hikes Point/Jeffersontwn
Area 8: DglasHls/Hurstrn/Middletwn/Anc
orage/St. Matthews
Area 9:
Anchorage/Glenview/
Lyndon/Propect
Area 10: Nelson Co.
Area 11: Bullitt Co.
Area 12: Other Counties
Area 13: Indiana
Area 15 Carroll Co.
Area 16: Hardin Co.
Area 17: Hart/LaRue Counties
Area 18: Washington/Marion Co.
Area 19: Spencer Co.
Area 20: Oldham Co N- I 71
Area 21: Oldham Co. S- I 71
Area 29: Henry Co.
Area 30: Shelby Co.
Area 31: Meade Co.
Area 34: Trimble Co.
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Average Kentucky Mortgage Rate
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Ky Mortgage Rate
4.94%
reported as of
Jan. 13, 2010
KY's rate remains stable but up 3 basis points from last week's 4.91%
Source: Zillow.com
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