Did The Home Buyer Tax Credit Do The Job?

May 29, 2010

money falling from sky

The last round of the home-buyer tax credit may have had a bigger impact than analysts had previously anticipated. In this article, Thomas Lawler, an independent housing economist in Leesburg, Va, indicates that the latest home-buyer tax credit, and its expiration, may have goosed sales just as much as last year’s tax credit. Mr. Lawler noted that new home sales may have done better during this spring’s rush to beat the expiration of a tax credit. Demir Gjokaj, a senior homebuilding analyst at Majestic Research, says that there were signs of a last-minute surge in existing home listings as the tax credit expiry neared.

If the tax credit worked in changing buyer psychology, it may have also had the same effect on potential sellers. Time will tell. Hopefully, the home buyer tax credit helped in turning things around.

The Home-Buyer Tax Credit May Have Actually Worked – Developments …

Did the last round of the home-buyer tax credit have a bigger impact than analysts had previously anticipated?

Publish Date: 05/27/2010 10:19

http://blogs.wsj.com/developments/2010/05/27/the-home-buyer-tax-credit-may-have-actually-worked/

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Hewitt Financial Group – Income Tax & Financial Planning

April 5, 2010

Have you filed your tax return yet? If you haven’t, don’t panic. Whether you need personal or business tax or financial planning services, they can help. Contact Hewitt Financial Group for an office or phone consultation. They service clients throughout California.

Hewitt FinancialHewitt Financial Group specializes in providing the necessary resources to achieve client goals by providing superior tax and financial planning services. They have been in business since 1984. They have ten tax preparers in the offices year round – four are Enrolled Agents (EA) licensed in the United States Department Treasury, two are Certified Financial Planners (CFP), six are Investment Advisor Representatives and one is a QuickBooks Certified Pro Advisor.

If you have any questions or would like more information on their services, please feel free to email them at info@hewittfg.com or call 800-573-4829. Please explore their website Here

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Good News From Fannie Mae

February 2, 2010

Fannie Mae announced that it will cover the closing costs on purchases of its foreclosed properties. This means that buyers will receive 3.5% of the final purchase price. The money can be used towards closing costs or for new appliances.

Escrow or closing deadline is May 1, 2010.

Another incentive offered is to only require 3% down on home purchases through HomePath Mortgage. Fannie Mae finally realized that the best way to help the real estate market recover is to get the foreclosed properties off the market. Fannie Mae is hoping that many home buyers taking advantage of the federal tax credit available now will purchase a Fannie Mae home.

Buyers, especially first time home buyers, can score a home run by getting a great deal, receiving the first time home buyer credit of $8000 and also getting additional help from Fannie Mae on the purchase of a Fannie Mae property.

In order to take advantage of these incentives, Buyers must act now. Call 661-726-0696 or Email Us Here

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Tax Assessment Deadline

November 10, 2009

Declining values.thumbnail (Excerpt: www.assessor.lacounty.gov)

Decline-in-Value – What is it?
In 1978, California voters passed Proposition 8, a constitutional amendment that allows a temporary reduction in assessed value when a property suffers a “decline-in-value.” A decline-in-value occurs when the current market value of your property is less than the current assessed value as of January 1.

Eligibility Requirements
You must demonstrate that on January 1, the market value of your property was less than its current assessed value.

You must file a claim form for a Decline-in-Value Reassessment Application (Prop.8) with the Assessor between January 1 and December 31 for the fiscal year beginning on July 1. If December 31 falls on a Saturday, Sunday, or a legal holiday, an application is valid if either filed or mailed and postmarked by the next business day.

==>Go To Assessor Site For Form & Instructions



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