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Homebuyer tax credit extended through June 30, 2010
Who Qualifies for the Extended Credit?
- First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
- Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
How Much Is Available?
The maximum allowable credit for first-time home buyers is $8,000.
The maximum allowable credit for current homeowners is $6,500.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.
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Tips For Buying in a Slow Market
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Trying to time the market to buy at the absolute bottom is impossible, since we can only identify that point when it has passed. Right now, there is downward pressure on prices in many parts of Austin. As soon as the perception is that things have "bottomed out" there will be upward pressure on prices, and your bargaining power is lessened.
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Some GREAT deals are being made in areas with a large backlog of builder spec homes.
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Financing is still available at historically low rates, but rates are expected to creep back up once the economy stabilizes. A one percent increase in the rate will affect your buying power more than thousands off the sale price.
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Helping you get the best value for your money is my primary goal. Over the past 19 years I have helped hundreds of people buy a home. If you choose to work with me as your Buyer’s agent I will use all of that experience and knowledge to your benefit. From exploring neighborhoods to negotiating a contract and closing, I will be looking out for you and advising you.
While you can see a million homes on the web, actually buying your home is another matter entirely. Every local real estate market is different, even one neighborhood to the next. It's my job to find the opportunities and inform you of any concerns or potential problems. As a resident and professional in the Lake Travis/Lakeway area my knowledge and insight will be invaluable to you, not just in terms of real estate, but also schools, neighborhoods, the local economy, and more.
In addition I will:
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Help you choose locations and properties according to your criteria.
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Tirelessly seek and preview homes, drive neighborhoods, and uncover the gems for you.
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Save you time by previewing homes when possible, eliminating those that do not fit your personal taste or criteria.
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Negotiate the final contract to include your best possible terms and conditions using current market conditions to your advantage.
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Review all documentation, disclosures, surveys etc. You will get my honest opinion of price, condition and value.
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Manage your transaction from start to finish, coordinate with the other parties involved and communicate the progress to you.
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Take all the time you need to find the perfect property.
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Pass along to you any Agent’s bonus on the house you buy!
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