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michaeljohnston
Michael Johnston
Broker
    Years of Experience: 18

    ABR - Accredited Buyer Reprasentative
    ABRM - Accredited Buyer Reprasentative Manager
    CRB - Certified Residential Broker Manager
    CRS - Certified Residential Specialist

Direct: 208-234-4357

Office: 208-234-0900



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The Home Specialists
150 N Main St
Pocatello, ID
208-234-0900


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Market Trends:

  •  Ave. Home Sale: $379,000

  •  Ave. Days on Market: 69



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Homebuyer Tax Credit Changes for Pocatello Buyers

Posted by Michael Johnston | on Friday, November 6th, 2009 at 7:56 pm
Category: Homebuyer Tax Credit.
Tags: , , ,

Congress has extended and expanded the homebuyer tax credit.  The modifications in the column labeled “December 1 – April 30, 2010″ become effective when President Obama signs the bill.  All changes made to the current credit become effective on that date, as well.

Feature

Jan 1 – November 30, 2009

Rules as enacted

February 2009

December 1 – April 30, 2010

Rules as enacted

November 2009

First-time Buyer - Amount of Credit

$8,000

($4,000 married filing separate) 

 $8,000

($4,000 married filing separate)

First-time Buyer – Definition for Eligibility 

May not have had an interest in a principal residence for 3 years prior to purchase 

 

Same 

 Current Homeowner – Amount of Credit

No Provision 

$6,500

($3,250 married filing separate) 

 Effective Date – Current Owner

No Provision 

Date of Enactment 

 Current Homeowner – Definition of Eligibility

No Provision 

Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years 

 Termination of Credit

 Purchses after November 30, 2009.  (Becomes April 30, 2010 on Date of Enactment.)

Purchases after April 30, 2010 

 Binding Contract Rule

 None

So long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 2, 2010 to close. 

 Income Limits

(Note: Increased income limits are effective as of date of enactment of bill)

 $75,000 – single

$150,000 – married

Additional $20,000 phase out

$125,000 – single

$225,000 – married

Additional $20,000 phase out 

 Limitation on Cost of Purchase Home

None 

$800,000

Effective Date of Enactment 

 Purchase by a Dependent

No Provision 

Ineligible

Effective Date of Enactment 

 Anti-fraud Rule

None 

Purchaser must attach documentation of purchase to tax return 

SOURCE: National Association of REALTORS(R) Government Affairs Division  *  500 New Jersey Ave., NW  *  Washington DC 20001

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Selling Your Home in Pocatello, ID

Posted by Michael Johnston | on Monday, October 26th, 2009 at 1:15 am
Category: Selling a House.
Tags: , , ,

If you are faced with the prospect of selling your home in today’s market, there are definitely things that you can do to give yourself the best advantage for getting the most money that a buyer is willing to give you for your home in this market. Unfortunately, the sellers in Pocatello are still competing with foreclosures and short sales keeping private owned homes in the background for most buyers. The last thing you want to do as a seller is put more money into your property to get it sold as you are not likely to get much of a return on that money. However, there are some things that sellers can do to really help their property sell that won’t cost them as much as the positive return that they will get.

First of all, clean your Pocatello property so it shines. Clean the inside until it sparkles and remove all clutter to make your space look as large as it can. Clear all debris from the outside and keep your lawn and landscaping trimmed.

Paint is one of the best things you can do as a seller to improve the looks of your property inside and outside. It is inexpensive and makes the property feel clean. A new paint job definitely uplifts a dreary listing. Also, removing wall paper can be a tremendous plus to helping your property show at its best. Much wall paper is dated and doesn’t do anything to help the property shine. I will say, as much as I love the new colorful paint, unless you are an interior decorator, I would keep the paint colors neutral. Let the new buyers envision what they might want to do with the decor should they decide to become the new owners to your property.

Again, not the best time to be a seller. However, if you can then become a buyer, this sale could be the best one you will ever make.

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Market Recap

  • Avg. Sales Price: 379,000

  • Avg. Days on Market: 69

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