Independent Women of SW WA

We had our first event last week to promote home ownership. It was a huge success. Everyone had a great time.
Looking forward to the next event which will be in January 2010. Check out the link for more info and events.

Books

Just finished reading the book Tribes. Started the book, What Would Google Do?

Open House

Did two open houses today. Higher end listing received many visits where as the lower end listing did not receive any.

Tax Credit –Hot Market

I guess you know by now the tax credit has been extended and expanded. This is great news for the real estate industry. This also means that if you are thinking about selling and planning to list in the spring. You will miss the “hot” market. Since the tax credits expire in April, homes need to be on the market NOW. More homes will be coming on the market in January, competition is going to be tough. Another reason to price it right the first time.

Extending the Credit — Almost There

Extending the Credit — Almost There

The extension and expansion of the homebuyer tax credit is the pending business in the Senate. After a long week of negotiation on the credit, an agreement on the scope of both expansion and extension has been reached. The extension is part of a larger bill that has not yet gone to a vote, however. A Senate vote on the underlying bill will occur in the Senate during the week of November 1. The package will then go back to the House. The House is expected to accept the Senate amendments, vote on the package and send it to the President for signature. The underlying bill is an extension of unemployment benefits. Other provisions in the bill include expansion of the net operating loss carryback rules, new requirements for some tax return preparers and noncontroversial provisions that “pay for” these changes.

The agreement on the extension and expansion of the credit is as follows:
Credit available for purchases before May 1, 2010. Prospective purchasers with binding contracts in place as of April 30, 2010 will be allowed an additional 60 days to complete the transaction.
Credit remains at $8000 for first-time purchasers. No change to definition of first-time purchaser.
New $6500 tax credit for repeat buyers who purchase between December 1, 2009 and May 1, 2010. Repeat buyers must have lived in their homes consecutively for 5 of the previous 8 years.
Income limits are expanded to $125,000 on a single return and $225,000 on a joint return. Current law $20,000 phase-out retained.
New anti-fraud limitations are imposed.
The White House has indicated that President Obama will sign the legislation.

Source: Realtor.org