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Nancy Stukan sells Utah Real Estate
Opportunity Knocks! With interests rates still low--though anticipated to rise in the months ahead—the timing is right to take advantage of good buys in the Ogden and Ogden Valley real estate markets. Dramatic price reductions in all sectors of inventory—lots, condos, and single-family homes—have been fueled by foreclosures and short sales, with lots and homes even in some luxury developments being sold for half what they were priced at originally. Federal Tax Credit Extended and Expanded Buyers have a great opportunity, with the federal tax credit having been extended to include home purchases made by the end of April 2010. A tax credit is applied to federal income tax due and does not have to be repaid, unless the property is not occupied by the buyer as a primary residence for at least three years. To qualify, a property must be under contract by April 30, 2010; and the sale must close by July 1, 2010. Current homeowners, as well as first-time buyers, qualify for the expanded program. A first time buyer or their spouse must not have owned a residence during the three years prior to a purchase. Homeowners who have lived in their current home for five consecutive years out of the last eight qualify for a tax credit of up to $6500 (or 10% of the purchase price, whichever is less) with the purchase of a new primary residence which they must occupy for at least three years following the purchase--with no requirement that they sell their current residence. More first time buyers qualify for the expanded program, with a tax credit of up to $8000 (or 10% or the purchase price, whichever is less) applying to single tax filers with incomes up to $125,000 and to joint filers with incomes up to $225,000. The credit decreases for single buyers earning between $125,000 and $145,000 and for couples filing joint returns who earn between $225,000 and $245,000. Singles earning over $145,000 and couples with incomes over $245,000 don’t qualify for the credit.
Properties priced up to $800,000 qualify for the current program. Check Out Our New, Improved MLS The techies have been hard at work putting together a new, state-of-the-art MLS website benefitting both clients and agents alike, to be launched in late February 2010. New mapping capabilities that pinpoint property searches will enhance the site. If you’re not already aware of the Hotsheet system, contact me and I’ll explain how I can set up an automated report that will come to you directly from our MLS--with any new or updated listings that fit criteria you’ve specified. You can reach me at (801)-866-2848.
Come and see for yourself! Visit the Ogden Valley. Don’t miss the up-to-date market information in my Ogden/Ogden Valley Market Update, and SIGN UP if you would like to be on my e-mail list for future quarterly market updates. I specialize in Real Estate in the Ogden Valley, Ogden, Snowbasin, Powder Mountain, and Wolf Creek areas of northern Utah and look forward to working with you whether you are selling or buying property. Please contact me to let me know how I can serve your real estate needs.
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