Special Agent Team’s Homeline

I’ve just sold a Residential property at 1305 Ellery Grove Ct in Vicksburg. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I’ve just sold a Residential property at 1915 Bloomfield Ave in Kalamazoo. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I’ve just sold a Residential property at 6231 Stable Glen Ct in Kalamazoo. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I’ve just sold a Residential property at 1615 Grand Ave in Kalamazoo. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

 Attention: All home owners and Home Buyers! The tax credit extension Has been extended.  Here are a few of the particulars:

The subject line is the actual bill which extended the deadline for the First Time Homebuyer Credit from 11/30/2009 to 6/30/2010 for the closing of the property. The bill also created a requirement that the “binding contract” be signed on or before 04/30/2010.

This bill also created a new group of buyers referred to as “Long Time Homeowners” who may qualify for a tax credit of up to $6,500.

These are people who have owned and used the same principal residence for 5 consecutive years or more. Specifically they must have owned and used the property as their principal residence for 5 consecutive years during the eight years immediately preceding the date of purchase their new principal residence, so there may be a gap where they have not occupied the property, but it is unclear to me when and how that might happen.

It appears that the same income requirements are in play with this new group. ($125,000 or less for individuals with a phase out of benefit to zero for those earning between $125,000 and $145,000 of modified adjusted gross income (MAGI). The MAGI numbers for married individuals filing a joint return would be $225,000 and $245,000)

In any event homes over $800,000 don’t qualify. Purchases from relatives, in-laws or other non-arms length relationships don’t qualify. Actual qualification would need to be confirmed by a tax accountant or qualified legal counsel.

You can get more information by going to IRS.gov and then search for “first time homebuyer credit”.

I’ve just sold a Residential property at 2703 Cumberland in Kalamazoo. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I’ve just sold a Residential property at 2703 Cumberland in Kalamazoo. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I’ve just sold a Residential property at 2703 Cumberland in Kalamazoo. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I’ve just sold a Residential property at 22676 Wynsmythe in Mattawan. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I’ve just sold a Residential property at 5115 Old Colony Rd in Portage. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.