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This topic is an urgent one about the $8,000 first time home buyer tax credit!

You’ve seen other information from me, you’ve seen all the news on TV and in the newspaper and right now, it is still true, that you can get the $8,000 first time home buyer tax credit. The bad news is that it’s set to expire on November 30th 2009. I implore you to take action quickly if you want to take advantage of this free tax credit from the government.

To dispel any of the rumors, there is not an extension of this program at this time. There has been some discussion about it, but at this point, there has not been an extension of the program, so it is, in fact, set to inspire November 30th. This is an urgent message to anybody thinking about making their 1st home purchase, this year, to do it now!

There’s still time to:

• help you find a home

• get it under contract

• get it closed by that November 30th deadline so you can get that $8,000 credit!

There’s so much information out there. I’ve made videos about it. You can go to www.IRS.gov, you can also find it on the National Association of Realtors website. It is a fact that this is a real program and that it is about to expire.

For any areas in the Denver Metro area you might want to take advantage of this program, just use www.EasyDenverHomeSearch.com.  That’s how I can assist you to find a home that’s listed for sale currently and help you go see it in time to make your offer and get it closed by November 30th. Don’t let this program go to waste. It’s unlimited by the government, it just expires in 6 weeks. But there’s plenty of time to still go get that home, if you’re interested. If you’d like more information about the tax credit, how it works, or just want to shop for homes contact me directly Sam [at] SamWilsonGroup.com or call me at 303-526-2606. Myself and my team of buyer agents are standing by, ready to help you take advantage of this program and find that great first home!

Until Next time

I know there’s a ton of information out there on the internet. You’ve seen it all over the news. And I get a lot of questions from my clients about how ‘The $8,000 First Time Home Buyer Tax Credit.’ works and who qualifies for it.

So, for your convenience, I’ve boiled this down into the Top 5 Things That You Need To Know About The Program. I’m going to read you some of the highlights from this free report today. But I also have made this available to you for free anytime by visiting my website www.EasyDenverHomeSearch.com. Just look for the box to fill in your information and order this free report today. You can also contact me directly by calling (303-526-2606) or E-mail me, Sam (at) HomeSam.com. Any way you’d like I’ll get this report right over to you.

So, let me jump right in and give you the highlights of what’s contained in this report and how you can qualify for the program. It’s really quite simple.

Question #1: Who qualifies?
This is for any first time home buyer in the year 2009. To qualify as a 1st time home buyer, the purchaser, or his or her spouse may not have owned a home in 3 years prior to the purchase.

Question #2: Which properties are eligible?
This is for owner occupied primary residence. And it can be a detach single family home, a condo or a town home.

Question #3: How much will the credit be?
The maximum allowable credit is $8,000. And this is calculated by 10% of the purchase price. So, if you buy a $50,000 home you get a $5,000 credit. If you buy a home that’s $80,000 or more (which is easy to do in the Denver metro area) then you’ll qualify for the maximum credit of $8,000.

There’s also an income restriction that does apply to the program. For single people, it’s an income limit of $75,000 and for couples it’s twice that or a $150,000.

Question #4: If the buyer’s income exceeds these limits, can he/she still qualify for the program?
And the answer is, ‘Yes.’

But there are some further restrictions and a slightly different calculation for the credit. It’s too much for today’s edition but call me or E-mail me and I’ll be happy to explain the details and how you can calculate that.

The maximum income levels are $95,000 for singles and $170,000 for couples.

Question #5: (And this is my favorite one!)..Will the tax credit need to be re-paid?
And the answer is, ‘No.’

And there’s only 1 restriction to that. That you remain an owner of the property for 3 years. If you sell the property within the 3 years then the credit will have to be recouped at the sale of the home.  Again, contact me directly for more information.

Those are the most important things you need to know. I can give you a lot more detail if you’d like to talk about it or you want to send me an E-mail. And because I strongly believe in this program, it’s Uncle Sam giving you another incentive to take advantage of the very low prices and the very low interest rates out there.

I’m going to go ahead and throw in my own little program to sweeten the pot:

• Anyone who buys a home through me or one of my buyer agents will get 2 days of a moving truck for free.
• And a couple other goodies will be thrown in there with it.

So, just contact me directly for details and restrictions on that program. But at this point, that’s everything you need to know about, why it’s a great time to get out there and buy your first home. Until next time!

I just received the April 2009 year-to-date results from the Denver MLS. It’s good news for sellers because prices are starting to stabilize. We’ll see what the rest of the summer brings but so far this year in 2009 we have not seen any price declines. In fact, in April prices were up about 1% vs March. That’s good news.

If you’ve been thinking about selling it might be the perfect time. Remember if you’re going to up-size or downsize to buy a replacement home, there’s never been a better time to buy.

Here’s why I think prices are stabilizing:

1. There is a first time home buyer $8,000 tax credit. That is bringing a lot of buyers into the market that weren’t previously able to purchase.
2. Interest rates remain at an all time low, below 5% and as low as 4.375%. So there are a lot of people taking advantage of that.
3. Less inventory on the market. There is only about a 6 month supply in the Denver metro area. According to the National Association of Realtors, that’s equilibrium and a healthy market.

So right now, it’s not so much a buyer’s market as it was recently. Therefore it’s a much better opportunity to sell your home.

In order to sell your home there are three key elements:

1. Get it priced right.
2. Get it aggressively marketed.
3. Make sure it’s prepared for showings.

If you’d like to find out what your home is worth, and more information about how to prepare a home for sale, just visit my website www.homesam.com. Just click on “Find out what your home is worth”. Within a day or so I’ll have a complete market analysis and some advice prepared for you to review.

You can always call me directly at 303-526-2606 or email sam (at) homesam.com.