We, Faulkner Four Percent are a Real Estate Company that has changed along with the economical status. We have agents who are well versed in HUD Homes, meaning Homes that have gone through the Sheriff Sale process and are now owned by the government. We have a direct link on our website which will guide you straight to the HUD website as well as Agents standing by to answer any questions you may have with navigating or imputing an offer on a HUD Home.
In addition, we also have all the up to date information on tax credits given to first time home buyers which includes those who have never owned a home at all or at least not within the past 3 years. The tax credit is up to an $8,000 CREDIT given to new homebuyers. Ohio legislation is working to allow this credit to be used as a Down Payment on a home. In order to receive this credit, a new homebuyer must have a contract by April 29, 2010 and close on their home by June 30, 2010 meaning
As the Federal Government is giving STIMULUS Packages to big Corporations, we are keeping up to date with Available Funds and Programs to STIMULATE your economical situation and promote home ownership. Call us with any questions and we will gladly help you purchase or sell your home!
Our Real Estate Company offers a low 4% Real Estate Commission on the sale of Residential Property, all with full service, MLS and Advertising.
Our Company will Sell you a house and save your Equity.
From www.welcomehomeohio.com:
Congress Enacts Bigger and Better Home Buyer Tax Credit On February 17, 2009, President Obama signed legislation that revises and extends the tax credit provisions of The Home Recovery Act of 2008-H.R. 3221. Section 36 of The Act established a First Time Home Buyer Tax Credit for qualified purchasers. A part of the Economic Stimulus Bill created an $8,000 first time homebuyer's tax credit. Any home purchased, new or resale, which is used as a principal residence will qualify. The home may be a manufactured or modular home and may be on private property or leased land. For the purpose of this legislation, a "first-time home buyer" is someone who hasn't owned a principal residence for three years before buying a house. (The date of purchase is considered the day that the title is transferred.) Only those who purchase a home on or after January 1 and before December 1, 2009 are eligible for the credit. Anyone who bought a home last year won't be able to take advantage of it.
This credit is equivalent to 10 percent of the purchase price of the home. The purchase price if you are building a new home would include not just the home itself but also the lot, development costs and any closing costs. The tax credit is capped at $8,000 and applies only to first-time home buyers and principal residences. However, unlike an earlier $7,500 home buyer tax credit, this one does not have to be repaid.
The tax credit is subject to income limitations. Single buyers need a modified adjusted gross income of $75,000 or less to qualify for the full credit, that's $150,000 for married couples. However, those earning more than these thresholds may be eligible for reduced credits.
Because the tax credit is "refundable," qualified buyers can take advantage of it even if they don't have much tax liability. Refundable means that it can be claimed even if the taxpayer has little or no federal income to offset. Should that be the case, the IRS will issue a check to the homebuyer for the difference between the tax due and the amount of the tax credit. Buyers have to own the home for at least three years in order to capitalize on the credit. If they sell the home before then, they will have to return the credit to the government.
To claim the credit or determine the size of your credit you must fill out IRS Form 1040 enter the amount of the credit as determined by filling out Form 5405. The credit generally will be equal to 10% of the purchase price up to a maximum of $8,000.
In addition, we also have all the up to date information on tax credits given to first time home buyers which includes those who have never owned a home at all or at least not within the past 3 years. The tax credit is up to an $8,000 CREDIT given to new homebuyers. Ohio legislation is working to allow this credit to be used as a Down Payment on a home. In order to receive this credit, a new homebuyer must have a contract by April 29, 2010 and close on their home by June 30, 2010 meaning
NOW is the time to purchase a home.
We also have been very successful in Short Sales. The term Short Sale does not mean the 'Sale' or 'Closing Date' will be a shorter process, rather that a home listed for sale could be bought for a lower price than is needed to pay off the current mortgage balance. We have information needed in order to both sell and buy a Short Sale home, which can be a great buy!As the Federal Government is giving STIMULUS Packages to big Corporations, we are keeping up to date with Available Funds and Programs to STIMULATE your economical situation and promote home ownership. Call us with any questions and we will gladly help you purchase or sell your home!
Our Real Estate Company offers a low 4% Real Estate Commission on the sale of Residential Property, all with full service, MLS and Advertising.
Our Company will Sell you a house and save your Equity.
From www.welcomehomeohio.com:
Congress Enacts Bigger and Better Home Buyer Tax Credit On February 17, 2009, President Obama signed legislation that revises and extends the tax credit provisions of The Home Recovery Act of 2008-H.R. 3221. Section 36 of The Act established a First Time Home Buyer Tax Credit for qualified purchasers. A part of the Economic Stimulus Bill created an $8,000 first time homebuyer's tax credit. Any home purchased, new or resale, which is used as a principal residence will qualify. The home may be a manufactured or modular home and may be on private property or leased land. For the purpose of this legislation, a "first-time home buyer" is someone who hasn't owned a principal residence for three years before buying a house. (The date of purchase is considered the day that the title is transferred.) Only those who purchase a home on or after January 1 and before December 1, 2009 are eligible for the credit. Anyone who bought a home last year won't be able to take advantage of it.
This credit is equivalent to 10 percent of the purchase price of the home. The purchase price if you are building a new home would include not just the home itself but also the lot, development costs and any closing costs. The tax credit is capped at $8,000 and applies only to first-time home buyers and principal residences. However, unlike an earlier $7,500 home buyer tax credit, this one does not have to be repaid.
The tax credit is subject to income limitations. Single buyers need a modified adjusted gross income of $75,000 or less to qualify for the full credit, that's $150,000 for married couples. However, those earning more than these thresholds may be eligible for reduced credits.
Because the tax credit is "refundable," qualified buyers can take advantage of it even if they don't have much tax liability. Refundable means that it can be claimed even if the taxpayer has little or no federal income to offset. Should that be the case, the IRS will issue a check to the homebuyer for the difference between the tax due and the amount of the tax credit. Buyers have to own the home for at least three years in order to capitalize on the credit. If they sell the home before then, they will have to return the credit to the government.
To claim the credit or determine the size of your credit you must fill out IRS Form 1040 enter the amount of the credit as determined by filling out Form 5405. The credit generally will be equal to 10% of the purchase price up to a maximum of $8,000.
Copyright ©2011 by Faulkner Four Percent®
5365 Greentree Road, Lebanon, OH 45036
Phone: (513)424-1150 Fax: (513)424-6109
5365 Greentree Road, Lebanon, OH 45036
Phone: (513)424-1150 Fax: (513)424-6109
