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Homebuyer Tax Credits to Expire – ACT NOW!!!

Friday, April 2nd, 2010




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The Homebuyer Tax Credits Expire Soon

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The homebuyer tax credits will expire soon. If you want to take advantage of these tax credits, you must act now. The tax credits are available to buyers who sign purchase agreements on a new or existing primary residence between December 1, 2009, and April 30, 2010. Buyers have until June 30 to close on their new home.

In addition to offering the $8,000 first-time homebuyer tax credit, the new law also allows a $6,500 credit for repeat or move-up homebuyers who have lived in their primary residence for five years or more.

There is an $800,000 price limit on all homes eligible for the credit. The income limits for all buyers are $125,000 per year for individuals and $225,000 for married couples. The first-time homebuyer credit is available to those who have not owned a home in the previous three years. The credit does not have to be repaid unless the home is sold or ceases to be the primary residence within three years.

I’m committed to meeting your home-financing needs. Call me if you have any questions, or if you would like to get started on a loan application today!

The above content is for informational purposes only and should not be used as a substitute for consultation with a tax advisor. We are not a law firm, nor a CPA firm.

Click here to visit my website and apply on line:
www.DavidJGarofalo.com



  • wp socializer sprite mask 16px Homebuyer Tax Credits to Expire   ACT NOW!!! | CT Real Estate
  • wp socializer sprite mask 16px Homebuyer Tax Credits to Expire   ACT NOW!!! | CT Real Estate
  • wp socializer sprite mask 16px Homebuyer Tax Credits to Expire   ACT NOW!!! | CT Real Estate
  • wp socializer sprite mask 16px Homebuyer Tax Credits to Expire   ACT NOW!!! | CT Real Estate
  • wp socializer sprite mask 16px Homebuyer Tax Credits to Expire   ACT NOW!!! | CT Real Estate
  • wp socializer sprite mask 16px Homebuyer Tax Credits to Expire   ACT NOW!!! | CT Real Estate
  • wp socializer sprite mask 16px Homebuyer Tax Credits to Expire   ACT NOW!!! | CT Real Estate
  • wp socializer sprite mask 16px Homebuyer Tax Credits to Expire   ACT NOW!!! | CT Real Estate

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Economic Update – March 29, 2010

Monday, March 29th, 2010




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Last Week in the News

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Existing home sales fell 0.6% in February to a seasonally adjusted annual rate of 5.02 million units from 5.05 million units in January. The inventory of unsold homes on the market rose 9.5% to 3.59 million, an 8.6-month supply at the current sales pace, up from a 7.8-month supply in January.

Orders for durable goods — items expected to last three or more years — rose 0.5% in February after a revised 3.9% increase in January. Excluding volatile transportation-related goods, orders posted a monthly increase of 0.9%.

New home sales fell 2.2% in February to a seasonally adjusted annual rate of 308,000 units from an upwardly revised rate of 315,000 units in January. Economists had expected a pace of 320,000 units. It was the fourth straight monthly decline and the lowest pace since recordkeeping began in 1963.

Initial claims for unemployment benefits fell by 14,000 to 442,000 in the week ending March 20. Continuing claims for the week ending March 13 fell by 54,000 to 4.648 million, the lowest level since December 20, 2008.

The Reuters/University of Michigan consumer sentiment index for March’s final reading was 73.6, matching February’s final reading. The index is 28% higher than it was one year ago. During the economic expansion that ended in December 2007, the index averaged 88.9.

In its third and final report, the Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at an annual rate of 5.6% in the fourth quarter of 2009, rather than the 5.7% increase initially reported. For all of 2009, the economy contracted 2.4%.

Upcoming on the economic calendar are reports on the housing price index on March 30, factory orders on March 31 and construction spending on April 1.

Click here to visit my website and apply on line:
www.DavidJGarofalo.com



  • wp socializer sprite mask 16px Economic Update   March 29, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   March 29, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   March 29, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   March 29, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   March 29, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   March 29, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   March 29, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   March 29, 2010 | CT Real Estate

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