Tax Time and the Home Buyer Tax Credit
January 20, 2010 by Bob Schenkenberger · Leave a Comment
With tax time upon us, I wanted to share the IRS form that is required to get your credit. IRS form 5405 is what you’ll need to attach to your tax return to claim the credit.
Please consult your tax professional for any tax advice regarding this, and if you need a tax pro, shoot us [...]
Maximize the Value of Your Offer
December 7, 2009 by Bob Schenkenberger · Leave a Comment
When negotiating a purchase, instead of asking for a reduction in sales price, consider asking for that money in seller concessions. It is a wash either way for the seller, and it could save you considerable money on your monthly payment.
Let’s assume a $250,000 listing price, 20% down payment and a 30 year fixed [...]
New and Improved Home Buyer Tax Credit
November 13, 2009 by Bob Schenkenberger · 1 Comment
The home buyer tax credit has been extended, and modified to increase the number of people able to take advantage. Home buyers now have until the end of April, 2010, to have a contract on a home. The closing of the contract must be before July 1st, 2010.
In addition to extending the deadline, current homeowners can also get a credit of $6500 if they choose to purchase a new primary residence.
The Get Home Denver Team Expands
November 1, 2009 by Bob Schenkenberger · 1 Comment
With the addition of Joe Koslosky, the Get Home Denver Team continues to expand and increase the services offered to our clients. Joe brings over 15 years of experience in residential sales, land acquisition, and commercial development and leasing.
In addition to increasing our ability to service the residential real estate needs of our clientele, we [...]
Tax Credit Extension a Gamble?
September 18, 2009 by Bob Schenkenberger · Leave a Comment
Talk about extending the $8000 first time home buyer tax credit is heating up. With the December 1st deadline, quickly approaching, there is legislation in both the Senate and the House that would expand the tax credit.
A proposal by Sen. Johnny Isakson, R-Ga., would raise the credit amount to a maximum of $15,000 for any buyer, of any home, over the next year. Additionally, it would remove the income caps of $75,000 for individuals and $150,000 for couples, that currently apply.
Using Self-Directed Retirement Plans to Buy Real Estate
August 28, 2009 by Bob Schenkenberger · 2 Comments
A growing trend is developing where investors are seizing the opportunity created by the nationwide housing slump. The trend is using IRA monies to buy these homes! This strategy could be a perfect fit for your portfolio woes.
The IRS allows all types of real estate to be purchased by an IRA. Including single family, multi-family, [...]
First Time Home buyer Credit – Extension?
August 27, 2009 by Bob Schenkenberger · 1 Comment
There is much discussion going on regarding the potential extension of the $8000 first time home buyer credit.
Congress returns next month from their summer recess and it is expected the credit extension will be a hot topic of discussion. I wanted to pass on a link to an interesting article from the Wall [...]
UPDATE: $8000 Homebuyer Tax Credit Countdown is on!
August 24, 2009 by Bob Schenkenberger · 1 Comment
UPDATE: An extension is in the works for the extension of the $8,000 credit. There may be a vote as early as this week to allow an extension of the credit into 2010. Despite many saying this is a done deal, it is not! No votes have been taken, and the final form is yet to be determined.
Another proposal under this extension would benefit those who are are not first timers. Non-first timers can qualify for a $6500 credit by purchasing a new home.
Denver is #1 Market According to Forbes
July 2, 2009 by Bob Schenkenberger · Leave a Comment
“While the majority of the nation’s housing markets are still working toward a bottom, some cities are boasting fundamentals that make them good places to buy a home now,” Forbes reported.
At the top of the good places to buy is Denver!
The Top 5 Markets on the list are:
Denver
Phoenix
Boston
San Diego
Los Angeles
CHFA Jumpstart Program
May 12, 2009 by Bob Schenkenberger · Leave a Comment
The Colorado Housing and Finance Authority (CHFA) recently unveiled a fabulous First Time Home Buyer program. The JumpStart Program is an initiative that will effectively utilize the $8000 Federal Tax Credit to the REAL BENEFIT of first time home buyer’s.
The program offers buyers a 30 year fixed interest rate mortgage, and a $6000 second [...]
