Chip Ward - Your Real Estate Professional

Tax Credit Extension

chipward — Tue, 10 Nov 2009 15:12:29 +0000

Great News!

Last week, after the Senate gave its final and fully supportive approval on the homebuyer tax credit extension, the House of Representatives voted overwhelmingly to pass the legislation, sending the tax credit to President Obama who’s final sign-off on Friday made it official.

The $8,000 first-time homebuyer tax credit, which was slated to expire Nov. 30, 2009, will be extended for contracts signed before May 1, 2010 that close before July 1, 2010. First-time buyers, who are in the process of closing now, no longer have to worry about qualifying for the $8,000 tax credit if they do end up closing after the Nov. 30 deadline. The new legislation also increases the income limit for couples with income up to $225,000, a nearly $55,000 increase above the current level.

Buyers who already own a home are also now eligible for a tax credit and the purchase of a home. The $6,500 maximum credit will be available to existing homeowners who have lived in their current residence for five of the prior eight years. The legislation does set forth several provision including, limiting eligibility for existing homeowners to homes worth $800,000 or less, as well as making both credits available only for primary residences, not second homes or investment properties. The legislation will take effect December 1, 2009 and is not retroactive.

The original first-time homebuyer tax credit jump-started the housing market, driving home sales to the highest level in more than two yeas. The National Association REALTORS® reported sales jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million units in September and are 9.2 percent higher than the 5.10 million-unit pace in September 2008.

Source:http://www.realestateeconomywatch.com/2009/11/congress-passes-homebuyer-tax-credit/

Your Nashville REALTOR®

chipward — Fri, 06 Nov 2009 16:36:36 +0000

The city of Nashville, Tennessee “Music City” is one of the most populous cities and popular vacation destinations in Tennessee. Well known destinations include: Gaylord Entertainment, Opry Mills, Lower Broadway and Printer’s Alley. Music Row, the Frist Center for the Visual Arts, Cheekwood Botanical Garden and Museum of Art; the Tennessee State Museum, the Nashville Zoo, LP Field (Home to the Tennessee Titans), Sommet Center (Home to the Nashville Predators), as well as Vanderbilt University, Belmont University, and Middle Tennessee State University to name a few.

The population of the entire 13-county Nashville Metropolitan Statistical Area in 2008 was 1,550,733 – making it the largest metropolitan area in the state of Tennessee (pretty impressive)!

Nashville is known for being the Music City, the home of the Grand Ole Opry, the Country Music Hall of Fame, the Schermerhorn Symphony Center, and many major record labels. The city is also known as the Athens of the South: Home to twenty-four post-secondary educational institutions – Nashville has long been compared to the ancient city of learning, site of Plato’s Academy. Since 1897, a full-scale replica of the Athenian Parthenon has stood in Nashville, and many examples of classical and neoclassical architecture can be found in the city.

As a Nashville REALTOR®, I am knowledgeable and experienced with this beautiful city. I have been with the prestigious and well-known real estate company, Keller Williams Realty since 2006. I sell homes in all of Davidson and Williamson counties including Green Hills, Bellevue, Hillsboro Village, Downtown Nashville, East Nashville, Brentwood, and Franklin. I have all the tools and resources at my finger tips in Helping You Make Informed Decisions.