How Would You Spend Your Tax Credit?

How Would You Spend Your Tax Credit?

COLDWELL BANKER REAL ESTATE STUDY FINDS CONSUMERS’ ANTICIPATED ‘SMART SPENDING’ OF HOMEBUYER TAX CREDIT WILL AID ECONOMIC RECOVERY

83 Percent of Current Homeowners Surveyed Say They Would Spend Tax Credit on Repaying Existing Debts, Home Improvements, Savings/Investments and Household Expenses

Coldwell Banker Real Estate LLC today announced the findings from a new survey that looked at how the recently expanded federal homebuyer tax credit, which opened up the credit to existing homeowners, might impact the economy.  Of the more than 1,000 homeowners surveyed, 83 percent responded that if they were to purchase a home and qualify for the tax credit, they would engage in “smart spending” or put the money toward paying off existing debts, home improvements, savings/investments, or everyday household expenses.  Only 6 percent of respondents indicated that they would spend the money on what are commonly referred to as luxury items such as a vacation or a shopping spree.

According to the survey, the top way homeowners would spend their $6,500 tax credit in a “smart” way would be to pay off debts (34 percent), followed closely by making home improvements (29 percent) and putting it into savings and investments (28 percent).

In addition, Coldwell Banker Real Estate found that 20 percent of homeowners indicated they were more likely to consider purchasing a home than they were six months ago, after learning about the $6,500 federal tax credit. The tax credit, which previously only was for first-time homebuyers, is now available to existing homeowners who sign a binding contract before April 30, 2010 and close on the purchase of a home before June 30, 2010. To learn more about the details of the expanded homebuyer tax credit, go to www.coldwellbanker.com

If you’re considering purchasing a home in Corvallis, Albany, Lebanon or Philomath (and surrounding areas of the mid-Willamette Valley); I’d like to help you meet your goals.  I work with buyers and sellers at all price levels. Please get in touch and we can get started today.

Other resources for information about the tax credit:

National Association of Realtors frequently asked questions about the tax credit

I.R.S. information abut the tax credit

Expanded and Extended Tax Credit Information–From the Expert

Questions and Answers from the Expert about the Expanded and Extended Tax Credit

Sellers and Buyers in and around the Corvallis and Albany, Oregon real estate markets can benefit from a clear understanding of the opportunities the Expanded/Extended Home Buyer Tax Credit provides.

An excellent source for answers to questions you may have about the expanded and extended tax credit for First Time Home Buyers and Long Time Home Owners that are thinking of making a change can be found at the Q & A page for the I.R.S.  The ultimate resource for information about taxes, tax credits and all other information that relates to the Expanded and Extended Tax Credit for buying a home.

It is possible to have parent (or other family members) assist in the purchase and still be eligible for credits.

If you are currently a homeowner and meet the other requirements, you do not have to sell your existing home (you could rent it out), but you do have to occupy the newly acquired home and meet all the other requirements.

You do not have to “buy up” or, in other words pay more for the new house.

Read the Questions and Answers about the tax credit for Home Buyers. This is truly a limited time opportunity.

I.R.S. Information about the Expanded and Extended Tax Credit

As always, seek the advice of a qualified tax advisor if you have questions about tax laws and how they pertain to personal circumstances.

Coming Soon | 3 Bedrooms | 2.5 Baths | $257,000

I have a new listing coming on the market very shortly and just wanted to let everyone know about it before it gets here!

Spacious and clean Philomath home with amazing views of Mary’s Peak and the rest of the Coast Range.  Landscaped yard with underground automatic sprinklers and trickling stream water feature. Large open living area with westward facing balcony to take advantage of those wonderful views! 3 bedrooms, 2.5 baths, approximately 1843 sq. ft. on .38 acres.  Take advantage of the extended first time home buyer/expanded buyer tax credit.

Located just of west of Corvallis and easy commute to Corvallis employment, including Oregon State University)

J.D. POWER AND ASSOCIATES RANKS COLDWELL BANKER HIGHEST IN HOME SELLER SATISFACTION

J.D. POWER AND ASSOCIATES RANKS COLDWELL BANKER HIGHEST IN HOME SELLER SATISFACTION

J D Power and Associates Award Coldwell Banker Real Estate LLC ranked “Highest among Overall Satisfaction for Home Sellers among National Full Service Real Estate Firms” according to the recently released J.D. Power and Associates 2009 Home Buyer/Seller StudySM.

The independently administered study measured customer satisfaction of homebuyers and sellers among the largest national real estate firms.  The study incorporates more than 3,100 evaluations from 2,801 respondents who bought or sold a home between April 2008 and June 2009. The survey was fielded between April and June 2009.

J.D. Power and Associates examined four factors in the home-selling experience including   agent; marketing; office; and package of additional services. Among home sellers, Coldwell Banker Real Estate ranked highest with a score of 815.

Complete results for the study.

When you work with Coldwell Banker Real Estate, you will be working with a brand:

  • That has built a legacy of being an industry leader;
  • That has a commitment to innovation;
  • That has a network of experienced and extremely successful Sales Associates, ready and willing to help you through any step of your real estate buying or selling process.

Source: http://www.jdpower.com/corporate/news/releases/pressrelease.aspx?ID=2009136

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