| Vanderhoff Real Estate's North Fulton Blog
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Monday, January 04, 2010
$8000 Federal Housing Tax Credit Still Available
The Worker, Homeownership, and Business Assistance Act of 2009 was extended through April 30, 2010. This tax credit of up to $8,000 is for qualified first-time home buyers purchasing a principal residence. The tax credit applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify. For sales occurring after November 6, 2009, the Act establishes income limits of $125,000 for single taxpayers and $225,000 for married couples filing joint returns. The income limits for sales occurring on or after January 1, 2009 and on or before November 6, 2009, are $75,000 for single taxpayers and $150,000 for married taxpayers filing joint returns. Click here for questions and answers that will provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation. If you qualify and would like to take advantage of the tax credit at a time when mortgage rates and home prices are low, contact us today. It's a fantastic time to buy a home in the Cumming, Alpharetta and Lake Lanier area. Visit our website at www.VanderhoffRealEstate.com and search all available listings in the area. We'd love to help you find your next home. Labels: 2010, 8000, Alpharetta, april, cumming, federal, lake lanier, real estate, tax credit, vanderhoff
Friday, July 17, 2009
Lake Lanier Water Wars Ruling Today
 Judge rules against Atlanta regional water wars WASHINGTON (AP) — A federal judge has ruled that Georgia must stop withdrawing water within three years from a federal reservoir outside Atlanta that is the city's main water supply. U.S. District Court Judge Paul Magnuson said Lake Lanier wasn't built for water supply and the state's withdrawals are illegal. He acknowledged it would be impossible to immediately stop using the lake because it is metro Atlanta's main water supply. But he said if the state can't get permission from Congress within three years, the withdrawals must end. Labels: congress, federal, lake lanier, ruling, water supply, water war
Thursday, July 16, 2009
Are You Taking Advantage of the Home Buyer Tax Credits?
 Are you taking advantage of the $8000 new home buyer tax credit? The new law refers to the tax credit as a first-time home buyer tax credit, but the law defines a first-time home buyer as someone who has not owned a primary residence for 3 years prior to the date of purchase of the new home. So as long as you have not owned a home in the past 3 years, you would qualify for this credit. Here are the basics to this specific tax credit: * The home must be your primary residence * The home must be purchased in 2009 * The homebuyer must not have owned another primary residence for at least 3 years * The $8,000 credit is applied to the federal income taxes you file in 2010 for the 2009 year. * You must live in the home as your primary residence for at least 3 years or you'll have to pay the credit back to the federal government * Single filers are limited to income of $75,000 and $150,000 for joint filers. If you qualify and would like to take advantage of the tax credit at a time when mortgage rates and home prices are low, contact us today. It's a fantastic time to buy a home in the Cumming, Alpharetta and Lake Lanier area, especially since you may also qualify for the new $1800 home buyer tax credit passed in Georgia. The new Georgia Homebuyer tax credit makes for a powerful new home stimulus plan when combined with the Federal $8,000 first-time homebuyer tax credit. For more information on the Georgia Tax Credit click here. Call us today! It's a great time to buy in Georgia! Also, check out the foreclosure listings in the area through a special link on our website. Labels: buyer, federal, first time, foreclosure, georgia, listing, new home, real estate, tax credit, vanderhoff
Monday, June 22, 2009
Are You Taking Advantage of the $8000 Tax Credit?
 Are you taking advantage of the $8000 new home buyer tax credit? The new law refers to the tax credit as a first-time home buyer tax credit, but the law defines a first-time home buyer as someone who has not owned a primary residence for 3 years prior to the date of purchase of the new home. So as long as you have not owned a home in the past 3 years, you would qualify for this credit. Here are the basics to this specific tax credit: * The home must be your primary residence * The home must be purchased in 2009 * The homebuyer must not have owned another primary residence for at least 3 years * The $8,000 credit is applied to the federal income taxes you file in 2010 for the 2009 year. * You must live in the home as your primary residence for at least 3 years or you'll have to pay the credit back to the federal government * Single filers are limited to income of $75,000 and $150,000 for joint filers. If you qualify and would like to take advantage of the tax credit at a time when mortgage rates and home prices are low, contact us today. It's a fantastic time to buy a home in the Cumming, Alpharetta and Lake Lanier area, especially since you may also qualify for the new $1800 home buyer tax credit passed in Georgia. The new Georgia Homebuyer tax credit makes for a powerful new home stimulus plan when combined with the Federal $8,000 first-time homebuyer tax credit. For more information on the Georgia Tax Credit click here. Call us today! It's a great time to buy in Georgia! Also, check out the foreclosure listings in the area through a special link on our website. Labels: Alpharetta, cumming, federal, first time, foreclosure, georgia, home buyer, lake lanier, tax credit
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