For Sellers
Home Buyer’s Tax Credit Ending Soon
The First Time Home Buyer’s Tax Credit of up to $8,000 and the expanded credit of up to $6,500 for existing homeowners who qualify is approaching an important deadline. A buyer wanting to qualify for the credit, must have the home they are purchasing under contract by April 30th. That means you need to find [...]
Read More...Guidance on New $6,500 Tax Credit for Repeat Home Buyers
If you have questions about the the $6,500 tax credit for repeat home buyers, the IRS has published guidance to help consumers better understand the requirements. This Washington Post article gives an explanation of the credit and provides a link to the IRS for more information. A little research led me to this IRS link [...]
Read More...January 1, 2010 HUD-1 and GFE Changes
Effective January 1, 2010 a new Good Faith Estimate (GFE) and HUD-1 (closing statement) are required. These updated forms are designed to better inform borrowers and to restrict fee increases that borrowers have experienced in the past. It should help to eliminate surprises at the closing table in relation to fees the borrower pays or [...]
Read More...Fed Interest Rates to remain at Historic Low
I just read about the Federal Reserve’s announcement that they will leave key interest rates unchanged for an extended period. With low mortgage rates to continue, and the homebuyer’s tax credit for those who qualify, purchasing a home is still a viable option.
MSNBC wrote, “just in time for the holidays, a gift from the Federal [...]
Homebuyer Tax Credit Update
NAR Issue Brief
Homebuyer Tax Credit Changes
National Association of REALTORS® Government Affairs Division
500 New Jersey Avenue, NW, Washington DC, 20001
Congress has extended and expanded the homebuyer tax credit. The modifications in the column labeled “December 1 – April 30, 2010” become effective when President Obama signs the bill. All changes made to the current credit become [...]
Read More...Twin Falls FSA Newsletter on “Selling Land”
I just received a newsletter from Twin Falls Farm Service Agency (FSA). It included an article about some issues to be aware when selling farmland that is in a Conservation Program. The article said, “If you are planning to sell farmland, there may be some program consequences you should be aware of. Fore example, if you’re planning to sell land that’s enrolled in the Conservation Reserve Program, the buyer must agree to continue the enrollment. If the buyer doesn’t want to continue the CRP contract, you might have to refund all the payments you’ve received to date.
Read More...Home Buyer Tax Credit Not Just for First Time Buyers
The Extended Home Buyer Tax Credit: Find the basics for homebuyers, and home owners from the National Association of REALTORS®. They provide some valuable information. NAR further info
Read More...Magic Valley Parade of Homes
This is the last weekend for the Magic Valley Parade of Homes. Friday and Saturday it runs from 1-7 pm, and on Sunday from 1-5 pm. It is free and a fun time to see new and remodeled homes with decorating and landscaping ideas. For more information visit www.mvparade.org .
Read More...The difference between a Client and a Customer
Idaho real estate law requires that at the first substantial discussion with a potential buyer or seller, that you be given what we call the “Blue Brochure”. The Blue Brochure explains the agent’s responsibilities to you and how they differ if you are a Client or a Customer. My job is to educate you about the difference and give you an opportunity to decide what our relationship will be. Watch for further posts explaining the difference between a Client or a Customer or click here to read the Blue Brochure for yourself.
Read More...Property Lines
Much controversy can come from property lines.
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