Local Boerne TX Blog | Foreclosure, First Time Home Buyer, Condos, Housing Market

Inside Real Estate
Let Me Help You!
(210) 831-8243
Follow My Blog
RSS
mistytyson
Misty Tyson
REALTORĀ®

    Specializes in all Areas of Real Estate
    5 Years of Experience

Direct: (210) 831-8243



Company Info


Real Estate Tools

Schoolsschools

Communitiescommunities

Calculatorscalculators

First Time Home-Buyers

Eligibility for $8000 Tax Credit

Monday, April 13th, 2009

Lately, I have been getting a lot of questions in regards to the eligibility of the $8000 tax credit, so this blog is to help answer some of those questions.

According to the National Association of Home Builders, in order to be considered a first time home buyer, you must have purchased a home from January 1st to December 1st of this year to qualify for the tax credit.Ā  However, there is an exception for those that have owned before and that exception is that you must not have owned a home in the last 3 years. Also, those that qualify for the tax credit must have a modified adjusted gross income of less than $95,000 for single tax payers and $170,000 for married tax payers. If you meet any of the above requirements then you are eligible for the tax credit.

Your next step would be to file an IRS form 5405 determine the amount of your tax credit and then to put that amount in the 1040 IRS tax return on line 69. Be sure that the purchase of the home is complete before you make the claim otherwise it will not go through. If you have any other questions regarding the tax credit then let me know.

Being a First Time Home Buyer is a Big Deal

Wednesday, March 4th, 2009

This blog is for those who fall into the category of first time home buyers in Boerne. First off, make sure you give yourself plenty of time to look for a house in Boerne. Being a first time home buyer is a big deal and it should not be something to rush into. With patience you often will find better deals as well as get more of what you are looking for. I usually tell Boerne first time home buyers to never settle for less because this might lead to buying a home that requires repairs that you may not have been initially aware of.

Another reason why first time home buyers should allow for plenty of time is due to the fact that once you find a home in Boerne; it usually takes about 30 days to close before you can move in. Some Boerne first time home buyers do not take this in to consideration and it ends up creating more stress for those that have a strict time limit as to when they need to be in a house. So taking the extra time to find a home in Boerne that is right for you will eliminate stress and also pay off in the long run.

So with that in mind, the next step is to get pre-approved, which will let first time home buyers know what they can afford in Boerne. Once they know that information, then they are ready to start looking. First time home buyers need to make note of what it is they want in a home as well as where they want to live in Boerne. This will help to narrow down their search so they are not wasting their time looking at houses that are considered not suitable.

All first time home buyers have to do is start searching, which of course is the fun part. Once they find their dream home in Boerne, there will be more steps involved which I will explain to you in a later blog. So until then good luck and let me know if you have any questions.

Market Recap

  • Avg. Sales Price: $346,670

  • Avg. Days on Market: 112

Free Market Alerts

Get local reports delivered to you

 
Recently Asked Questions
    market alert newsletter

    Get free market reports delivered to you. » Sign up today

    Ask Me a Question

    Do you have questions you need Answered?

    - Copyright © 2010 Inside Real Estate, LLC

    Inside Real Estate does not endorse the agents on this site, and does not guarantee the content submitted by the site's members. Blog and page entries, content, and other information contributed by agents that are members of the site are accountable to the particular agent.