Franchise Tax Board to Cease First-Time Buyer Tax Credit Program August 15, 2010

As of August 4, FTB has received 31,460 applications. Because some of the applications are invalid or duplicates, FTB will continue to accept them through August 15, to ensure that enough valid applications are received to properly allocate the full $100 million of tax credit. FTB estimates that it can award approximately 17,500-20,000 credit certificates [...]

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California median home price rises 13.6 percent

In the absence of the federal home buyers tax credit, sales of existing, single-family homes in California declined 4.2 percent to a seasonally adjusted annual rate of 492,000 units in June compared with the same period a year ago, according to C.A.R.’s June sales and price report. The median price of an existing home in [...]

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Homebuyer tax credit possibly extended to September 2010

The Senate has amended a bill to give homebuyers who were under contract on a home purchase by April 30 an additional three months to close the deal and claim the federal homebuyer tax credit.
Extending the deadline for closing from June 30 to Sept. 30 would allow lenders more time to clear a backlog of [...]

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HAMP’s effectiveness depends on who you ask

Two reports out of Washington Wednesday paint very different pictures of the government’s response to the nation’s mortgage foreclosure crisis.
One, the monthly Treasury Department report on the progress of the administration’s Home Affordable Modification Program, shows loan servicers are stepping up their efforts to convert more delinquent borrowers into more affordable mortgages loans.
The other, from [...]

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Fed’s Housing Tax Credit Will Expire

Today is the day the Federal Tax Credit will expire. As the day ends we are squeezing in as many purchase agreements as possible (With Safety clauses of course) to take advantage of the $6,500.00 & $8,000.00 credit. It is safe to say that this tax credit will not be renewed as many would be [...]

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Fannie May Survey says Americans Prefer Owning vs Renting

It’s no surprise that a survey of this type would turn out these results.
Even in todays market of great deals to be had I still run into those who say they will wait to buy. What are these people waiting for? I think that some who chose this way of thinking believe that home ownership [...]

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Google Changes it’s Name to | Topeka.com

4/01/2010 12:01:00 AM
Early last month the mayor of Topeka, Kansas stunned the world by announcing that his city was changing its name to Google. We’ve been wondering ever since how best to honor that moving gesture. Today we are pleased to announce that as of 1AM (Central Daylight Time) April 1st, Google has officially changed our [...]

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8 Tips to get your Home Buyer Tax Credit before it expires

RISMEDIA, March 27, 2010—RE/MAX agents report that the home buyer tax credit currently can deliver meaningful savings, but only for those who, at a minimum, have a binding contract to purchase a home in place on April 30, 2010. With that deadline bearing down, potential buyers who want to capture the tax credit had better [...]

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Governor To Sign New Home Buyer Tax Credit

On Monday, the legislature passed AB 183 (Caballero & Ashburn) which would provide $200 million for homebuyer tax credits. The Governor is expected to sign AB 183 into law before the end of the week. C.A.R. supported this important legislation.
AB 183, formerly SB 4 of the sixth extraordinary session (Ashburn), is part of a package of [...]

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Out of the office 3/23/10

I will be attending the Realtors SFR (Short Sale/Foreclosure Resource) course and will be out of the office all day.
I will be returning your phone calls and emails during breaks’s.
Thanks and have a great day!
Nick

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