Today the Minneapolis Area Association of REALTORS released their weekly update of housing statistics for the Twin Cities and showed that for the week ending 4/24/2010, there were 1184 properties in the 13 county region that went to "Pending" status, meaning an offer has been accepted by the seller and the property is no longer available for showings. While this is the strongest number of the year and very close to the highest weekly numbers seen in 2009, it looks like the final week of April will go down as the … [Read more...]
100 Days Left to Take Advantage of Home Buyer Tax Credits
January 21, 2010 by 1 Comment
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that: Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010. Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010. Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers … [Read more...]
IRS Releases Tax Form for Home Buyer Credit – Expect 3-4 Month Wait
January 19, 2010 by Leave a Comment
The IRS released the tax form required for claiming the new version of the home buyer tax credit on January 15th. If you're planning on claiming the credit, know that the IRS will require documentation proving you purchased the home in the eligible period. Since this documentation will not be electronically submittable, you will have to file a paper return or amended return. In addition, due to the increased scrutiny of those claiming the credit, it may take 3-4 months to get the money. The good news is … [Read more...]
