March 20, 2010 - Federal Tax Credit for first time homebuyers.
Are you looking to partake in the First Time Homebuyer's Tax Credit? You have until April 30, 2010 to find a home you'd like to buy and put it under contract. This means you must make your offer, have it accepted and be working on closing it by June 30, 2010.
To qualify as a first time homebuyer, you must not have owned a primary residence during the three years up to the date of purchase. From IRS.gov: If this is true for you, you can get $8000 as long as you are age 18 at the date of purchase, the purchase price is less than $800,000, and you are not a dependent. Full credit is available to taxpayers with modified adjusted gross incomes (MAGI) up to $125,000 or $225,000 for joint filers. The full credit is available to taxpayers with MAGI up to $75,000, or $150,000 for joint filers. Those with MAGI between $75,000 and $95,000, or $150,000 and $170,000 for joint filers, are eligible for a reduced credit.
There is good news for military members and some federal employees too. You have an extra year to close on the property as long as you are under contract by April 30, 2010.
Also, there is a tax credit for long time residents! They must have owned and used the same home as a principal or primary residence for at least five consecutive years of the eight-year period ending on the date of purchase of a new home as a primary residence.
For all qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 tax returns.
If you'd like to search for homes for sale, click here.
If you have any questions at all or would like my help, please don't hesitate to contact me! I'm here for you!
Thanks!
Megan Omlor
Solaris Realty
TampaHomesByMeg.com
813.629.2527
March 27, 2010 - Don't Have the 20% to Put Down for a Conventional Mortgage or 3.5% to put down for FHA? Let's face it, most people don't have a lot of money lying around.
There are still ways to get mortgages in certain areas with only a standard escrow deposit down which can go to your closing costs or back to you at closing. Contact me for more information about how you can participate!
If you have any questions about purchasing with little money, contact me! I'm here for you!
Thanks!
Megan Omlor
Solaris Realty
TampaHomesByMeg.com
813.629.2527
April 2, 2010 - Have you had your home on the market for months and haven't been able to sell? Is your home not worth the price you paid for it but foreclosure or short sale is not an option? But you're afraid to even think about renting it because of the horror stories friends have told you? I'm your solution! Instead of waiting it out while needing or wanting to move on or paying for the whole mortgage yourself or letting it go into foreclosure, rent it out. What you can rent it for depends on what other comparable homes in the neighborhood have rented for, in another words, what the rental market will bear. You may not get the whole monthly mortgage amount per month but at least someone else will be paying the bulk of it for you! With so many properties available and other costs of living so high, people are looking for the best price they can get and often try to negotiate the rent price with you.
I am a residential property manager/sales agent who handles single family homes, townhomes, and condos in Valrico, Riverview, Brandon, and New Tampa. I've been doing this for 7 years and manage around 25 properties currently. I have a lot of experience in finding good tenants who pay the rent (on time) and don't tear the house up. I do a complete background check and I know what to look for and what to avoid in an applicant. While there are no guarantees in life, I certainly can help you reduce the stress of what to do in this trying market. When you call or email, you talk directly to me, and I'm the one who handles anything that needs to be taken care of so you don't get the run around. I also have owners who can provide references for the kind of work I do. Contact me if you are interested in finding out how to relieve your homeowner headache!
I look forward to helping you!
Megan Omlor
Solaris Realty
TampaHomesByMeg.com
813.629.2527