| Previous pageMay 16, 2009
Open House on Saturday 5.16.09 from 1pm to 4pm
Address: 17025 110th Pl Se, Renton, WA 98055Price: $237,950Bed/Bath: 3/2
Sq. ft.: 1,340
(more details)
Very clean home situated in a
quiet cul-de-sac. Home features comfortable living areas, a spacious
kitchen (w/ new granite & new cabinets!), lg master with private
full bath, gas heat, dual-paned windows and more. Entertainment-sized
deck, greenbelt, and lg private fenced back yard with b-ball court
& 2 hoops; new lndscpng & gravel driveway for addtnl pkng.
Minutes from community park (for homeowners), bus line, freeway access,
and Valley Medical Center. Close to shopping and many amenities. ( More Property Details)
May 15, 2009
Bringing the Dream of Homeownership Within Reach
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers.
Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.
Who Qualifies?
First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.
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.
Which Properties Are Eligible?
The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Will the Credit Be?
The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:
The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.
The buyer's income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.
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 the three-year period, the credit will be recouped on the sale.
Source: Realtor.org
May 14, 2009
Tax Credit Can Be Used for Down Payment
Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.
Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit. The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change.
“We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” Donovan says. His remarks came in an address to several thousand REALTORS® gathered Tuesday morning at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, D.C..
He says FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.
Source
April 28, 2009
Legislature approves program to help first-time home buyer
Washington realtors just sent out a press release about a program approved by the state Legislature that would create a loan for first-time home buyers, so they could get the $8,000 tax credit — available for first-time homebuyers — sooner.
(If you’re a first-time home buyer in the market, you probably know about the federal tax credit that was part of the stimulus: Buy a house for the first time, get $8,000 taken off your tax bill. Some restrictions and fine print apply.)
The program approved by the Legislature would allow homebuyers to loan that $8,000 from a state-sponsored program so they could put the money toward a down payment or closing costs.
From the press release: “The program authorizes the state treasurer to deposit $25 million in a financial institution, which would then open a line of credit for the Washington State Housing Finance Commission (HFC). The HFC would use that credit line to pay for down payment loans to first-time buyers. Buyers repay the advance loan after filing for and receiving the tax credit.”
There is another way to get the $8,000 in your pocket before it’s time to buy, without taking a loan: If you’re buying a home later in the year and have some restraint, you can reduce your federal income tax withholding so that your tax burden is $8,000 less that what it would be otherwise.
For more information, please visit: http://www.tvw.org/capitolrecord/index.php/2009/04/legislature-approves-program-to-help-first-time-homebuyers/
| |  Ricky Chan
Realtor®
Tel: 425.445.6992
Fax: 425.947.9908
560 Naches Avenue SW,
Suite 100, Renton,
WA 98057
email: rickyhomes@gmail.com懂流利國、粵語、
及英語Fluent in Chinese
and English
| |