It’s Friday, so it’s time for this week’s reader-submitted Q & A. If you’d like to submit a question, click here for more information or simply email a question.
I was wondering if we qualify for a first time home buyer credit. We just bought our first house in Nov 2008. My husband purchased a [...]
Continue reading about Friday Q & A: First Time Home Buyer Tax Credit
The IRS released a notice recently concerning an obvious contradiction:
The deadline to purchase a home and potentially qualify for the 2009 first time home buyer tax credit is November 30, 2009.
You can claim this $8,000 refundable tax credit on your 2008 tax return.
Your 2008 tax return is due April 15, 2009.
You: So how can [...]
Continue reading about First Time Home Buyer Credit – Your options if you buy after April 15
I recently had lunch with several other random financial professionals. One, a realtor, spontaneously launched into a verbal tirade about how the media was making the economy out to be so much worse than it actually was and that this fact, more than anything else, was feeding potential home buyers unrealistic expectations. She continued that [...]
Continue reading about Is it time to buy a home yet where you live?
After weeks of intense negotiation, the new first time home buyer tax credit of $8,000 was signed into law this week. Here are some first time home buyer tax credit FAQs:
Will I qualify for the credit?
You qualify for the full credit if:
You close on a home between January 1, 2009 and December 1, 2009 AND
You [...]
Continue reading about First Time Home Buyer Tax Credit – 2009 Version
This article is about the initial first-time home buyer tax credit. It’s an important read if you bought your first home in 2008. If you purchased your home during 2009, read about the 2009 First Time Home Buyer Tax Credit.
If you haven’t purchased your home yet, be sure to read about The new, enhanced, [...]
During the long-ago period of ever-rising home prices–
You: Wasn’t that, like, three years ago?
Indeed. Crazy, right? Seems like most people forget that prices haven’t been going down for that long. Anyway, one interesting phenomenon of the boom period was the homeowners nearly real-time use of that appreciation.
You: How is that even possible? [...]
Lately, everyone’s writing about the housing market.
You: Why?
It’s nearly spring.
You: Nearly? It’s March. Are you a little down?
I live in New Hampshire. It snowed today. For me, nearly spring is actually being optimistic!
You: Oh. Today, our high was –
CAN’T HEAR YOU!
Anyway, I recently compared the housing market opinions of Time Magazine and Bankrate.com. I [...]
Continue reading about Bull market on housing market related articles
When I recently wrote about whether now was the right time to buy a home, I argued that the price of the home was more important than the interest rate you received. Assuming you maintain good credit, you should have the opportunity to refinance a high interest rate downwards at some point in the [...]
Continue reading about How home affordability has changed now that the boom is over
Housing prices have decreased significantly over the past year or two. So say people like Fed Reserve Chairman Bernanke, numerous articles in The Wall Street Journal, and my brother—who just bought a house for quite a bit below an already dramatically reduced asking price.
Although I’ve also read about specific locations which are “protected” or still [...]
Continue reading about Time magazine vs. bankrate.com on the housing market
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