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From the category archives:

Texas Real Estate

The Move-Up or Repeat Buyer Tax Credit

January 26, 2010
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Also referred to as the Homeowners $6500 Tax Credit follows all the same income and qualifying date requirements as the FTHB tax credit. This credit is intended to be used for new buyers in the market that have owned and resided in the same home for at least five consecutive years of the eight years prior to the purchase date.

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The Extended First Time Home Buyer Tax Credit

January 26, 2010
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There is really not a whole lot more that needs to be said that my other article here has not already covered. Other than the dates, some changes to the income limits and the addition of the move-up buyer tax credit the 2010 credit is same. There is one advantage to those closing after November 7, 2009 that they would not have had prior — that is the Modified Adjusted Gross Income for qualifying person(s) being raised.

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Buyer Beware: When Considering a Short-Sale and your Tax Credit

June 29, 2009
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This is a topic I have been intending to write about for several weeks — But I have been so busy working on deals with my current clients I have not been able to throw out this bit of caution to some of my readers, and hopefully soon-to-be customers. My prediction after gauging the temperament, price ranges of starter homes, and the quest for a “good deal” by first-time homebuyers is that many hoping to take advantage of this short-sale market may miss the opportunity of receiving their First Time Homebuyer Tax Credit. I have not really written or even mentioned much about short-sales on this website; simply because there are plenty of other sources, and acquiring customers who may buy a short-sale simply comes with the real estate landscape for the time being.

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$8000 Tax Credit used as Down Payment in Texas Coming Soon

March 29, 2009

This is a question I have noticed entered on searches for some incoming traffic here at My Denton County Real Estate, and have been asked about more than once. I have not addressed this yet due to the fact there is nothing in place YET. But in an effort to appease those search efforts, and to win over those future home buyers who have not yet chosen a real estate agent.

Here it is..

In early to mid May of 2009 the Texas Department of Housing and Community Affairs is going to unveil a program that will allow First Time Homebuyers to monetize the $8000 Tax Credit that purchasers between March 28th and December 1, 2009 are entitled to receive. This will enable those first timers seeking down payment assistance to put a credit they have not yet received towards the purchase of the home.

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FHA Housing Limit in Denton and surrounding counties of North Dallas Texas

March 9, 2009
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For example if you are unable to use the USDA loan program because you do not want or wish to live in an eligible areas such as Corinth, Little Elm or Highland Village an FHA mortgage is perfect since there are hundreds of 3 bedroom 2 Bath homes available in Flower Mound, Lewisville and Denton under the $271,050 requirement

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$8000 First Time Home Buyer Tax Credit

February 24, 2009
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Now it is my tun to break down the $8000 First Time Home Buyer Tax Credit. I must admit, when the bill was being negotiated in the Senate, before moving forward to the House of Representatives I was following it very close, in attempt to report the results in a timely manner. But as we know now, that was a lost cause because it kept changing hourly it seemed. But now we have a signed bill, and albeit it was very trimmed down from what the Senate, National Association of REALTORS®, and the National Association of Home Builders wanted as was outlined in Fix Housing First Act article I posted, notably which would have included a $15,000 tax credit for everyone buying a home.

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Another reason SOME real estate agents suck

January 14, 2009
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I guess with a title like that I should give a little background on how a portion of the real estate business is done here in the DFW Metroplex. Here and many parts of the country now use a showing service to set-up appointments for showings on listings of homes for sale. We use Centralized [...]

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