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The popular first-time homebuyer tax credit that was scheduled to end this month is being extended. President Obama signed a bill that extends the up to $8,000 tax credit for first-time homebuyers for seven months. An additional incentive for the housing industry is for homeowners. The $6,500 tax credit will benefit some existing homeowners who are also buyers and whose primary residence has been owned, used, sold, or being sold within at least five consecutive years of the previous eight years. The legislation is part of a bill that also extends unemployment benefits. Bruce Walker, Director of Marketing, RealEstate.com Reportedly, the credit would be available for people earning up to $125,000 a year and couples making up to $225,000 per year. This is an increase from the current income limits of $75,000 and $150,000, respectively. The extension of the first-time homebuyer credit lasts through June of next year. Buyers must sign a contract by the end of April 2010. The incentives come at a good time for the housing industry. "We're getting into a historically slow time of year. You have the holidays and folks just aren't in the market to buy a home. I think now, you're going see a little bit more interest and we may see some upticks through the end of the year that could carry some momentum into the first part of the year which is traditionally the heaviest homebuying season," says Walker. He believes these incentives will not only cause more homes to sell but will also have an impact on related industries. "I think one of the areas that will get a secondary benefit is going to be the home improvement industry. When someone buys a home they will often put additional work into it to make it their own. They'll paint, put up wallpaper, and hang current rods. They may clean floors -- so that home improvement sector is going to see, I believe, a secondary lift as well," explains Walker. What this means to consumers? "When they see that home prices have dropped, there's going to be fear in the market and people are going to wait to see other people get involved -- get back into the market. So, as consumers are pushed off the fence with these incentives I think we will see a strengthening of the housing market as a direct result and people are going to get re-engaged," says Walker. But some wonder are the incentives a risk that will cause homeowners to later default? "People have been skeptical of the economy for the last year or longer," says Walker. Economists with the National Association of Realtors estimate that approximately 2 million people will take advantage of the tax credit this year. |
Monday, November 23, 2009
Extended Tax Credit for HomeBuyers and Homeowners
Saturday, July 11, 2009
Summer Activities
Baseball, Hotdogs, Apple Pie...And Great Summertime Websites
Fun In the Sun Is Just a Click Away
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Summer is officially here, and there are plenty of ways your family can have fun in the sun, while also staying safe and healthy! Whatever plans your family has in store...in addition to enjoying the traditional baseball, hotdogs, and apple pie...here are some great websites that can help.
Hitting the Road...or Air...
Plan Your Road Route: There are a number of websites such as www.mapquest.com and maps.google.com that can help you plan your route. So make sure you take a few minutes to plan your drive and print out any directions that you may need.
Fly Smarter: For the latest information on prohibited items, acceptable IDs, and other security-related items, visit www.tsa.gov/travelers/airtravel.
Weather Watch: Whether you're travelling by road or air, you'll want to keep an eye on www.weather.com. Not only does this site help you discover the weather of your final destination, it also helps you keep an eye on how the weather is impacting airports across the country.
Work and Play...
Stay Connected: Learn where you can get free wireless Internet access while you're on the road this summer at www.wififreespot.com.
Stay Healthy...
Breathe Easier: Learn tips for fighting hay fever, asthma, and other summertime allergens at http://allergy.healthcommunities.com.
Camp Itch-Free: Visit www.poison-ivy.org to make sure you can identify poison ivy and poison oak before you plan any camping or hiking excursions.
The Great Outdoors...
Camping Across America: If you're planning a camping trip this summer-whether it's down the road or across state lines-take a few moments now to plan the trip and reserve your campsite. There are a number of online resources for specific campgrounds and state parks, but you can also reserve a spot at campsites across the country by visiting the following websites:
US National Parks: Find a National Park near you...or one that you may be near during your vacation in another state. It's as easy as visiting the government's official National Parks page at http://www.nps.gov/findapark/index.htm and clicking on the state of your choice! The site will display a map of the state to locate the parks, and you can scroll down to learn more about each park and even get directions.
Exciting Activities and Oddities...
Festival Fun: Visit www.festivals.com for information on over 40,000 community events, including air shows, cook-offs, craft shows, music festivals, and more.
See the Country: Find information on attractions, accommodations, restaurants, and more at http://www.usa.gov/Citizen/Topics/Travel_Tourism/State_Tourism.shtml
Family Theme Parks: No matter where you're going or what your budget is, you'll find the perfect park to fit into your travel plans. Just visit http://www.familythemeparkvacations.com/attractions-search-by-state.html and scroll down to choose the state you're in or visiting. Once you're on the state page, simply scroll down to see a variety of family theme parks-from water parks to amusement parks.
Odd Attractions Along the Way: Looking for the largest ball of twine? Bonnie and Clyde's death car? A toy robot museum? Well...you've come to the right place. Just visit http://www.roadsideamerica.com/location/ to find oddities and tourist attractions in every state-and even Canada! Simply click on either the map, the state links in the left sidebar, or type a city into the search at the top of the page. Then scroll down to view Featured Attractions or see the list of cities in the right-hand sidebar.
Sun and Sand...
Beach Vacations: Every state boasts about their beaches. Some have oceans while others have gulfs, bays, rivers, lakes or reservoirs. Whatever form the water takes, adventures and sports of all types can be found. Just click on the state of your choice in the map at the top of the page or choose from the alphabetical list below it. http://www.chiff.com/recreation/beaches/USA.htm
Sites for Kids...
Websites to Keep Kids Thinking: Sure...kids love summer because there's no school. But all that time away from the books can lead children to regress a little bit in what they know. Luckily, there are a variety of websites dedicated to providing fun online games that actually help kids activate their brains during their long summer vacation. For example, when you visit http://www.lac-k8.net/summer_websites_for_kids.htm you can find a list of websites dedicated to specific grades or even subjects such as math or science. So if your children keep asking you what they should do or if they want to play on the computer instead of outside, point them in the direction of a site that is good for their brains.
Regardless of whether you're traveling near or far this summer, take a few minutes to check out these sites and find activities and adventures in the sun, while also staying safe and healthy!
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