VA Home

Great news for buyers and sellers…

admin — Fri, 06 Nov 2009 02:31:52 +0000

Both the House and the Senate have passed an extension of the buyer tax credit today, and President Obama is expected to sign the new bill.

The new plan opens the tax credit to many move-up home owners, and those with higher income than the original bill, as well as extending the deadline to April 30th and adding a prevision for extended closing for already ratified contracts beyond the April 30th deadline for already written and binding contracts.

Highlights are below:

Feature	Credit ending Nov 30th, 2009	New Credit ends Apr 30th, 2010

Buying First Home Credit	$8,000 ($4,000 married filing sep)	$8,000 ($4,000 married filing sep)

Buying First Home Eligibility	Must have had no interest in a principal residence for previous 3 years	Same

Current homeowner Credit	No Plan	$6,500 ($3,250 married filing separate)

Effective Date – Current Owner	N/A	Date of Enactment

Current homeowner Eligibility	N/A	Must have used sale property as principal residence for 5 consecutive years of the last 8

Termination of Credit	Post Nov 30th, 2009	Post April 30th, 2010

Binding Contract Rule	N/A	So long as a written binding contract to purchase is in effect on April 30th, 2010, closing must occur prior to July 1st, 2010

Income Limit	$75,000- Single, $150,000 married	$125,000 – Single, $225,000 – Married

Max Purchase Cost	N/A	$800,000 Effective Date of Enactment

Purchase by a Dependent	N/A	Dependents are Ineligible Buyers as of date of enactment

Anti-fraud Rule	N/A	Documentation of purchase required to be attached to tax return

We expect that there will be less of a seasonal downturn in transactions as a result of the passage of this extension and encourage buyers to seize opportunity. We would be surprised to see the tax credit extended again, as it might actually back-fire if the buyer tax credit began to be seen as a constant opportunity by buyers.

VA Home Services and savings -

admin — Sun, 25 Oct 2009 22:02:03 +0000

VA Home continues its commitment to providing more buyer and seller services with links to MLS search of VA home listings through Market Advantage Real Estate.

We are now looking for the best VA home loan, VA home builder, and REO VA home partners for you, so we can also add links to connect you to their services.

If you know someone we should consider, please leave a comment below and we will investigate the company for consideration on the VA home site.

Our Partners…

admin — Sun, 18 Oct 2009 05:22:09 +0000

VA Home.net has launched to help connect VA buyers and Sellers with a network of high integrity agents who have made a commitment to helping VA buyer and sellers enjoy top quality agent service, while also paying discount agent commission costs.

To see how this is made possible, we encourage you to visit the Insider Homes site and check out the page which explains how to receive top notch service and discount agent rates.