www.pasadenacoastalhomes.com

  Under the new and expanded home buyer tax credit rule , the credit is worth up to $8,000 for first-time home buyers and up to $6,500 for qualifying existing home buyers, in both cases, who buy a primary residence or have one built. The tax credit is refundable. A credit that is larger than the taxes owed is returned to the taxpayer in the form of a refund.   The home can cost no more than $800,000 and qualifying income is limited to a maximum of $125,000 for single taxpayers and $225,000 for joint taxpayers.

      Under the new and expanded home buyer tax credit rule , the credit is worth up to $8,000 for first-time home buyers and up to $6,500 for qualifying existing home buyers, in both cases, who buy a primary residence or have one built. The tax credit is refundable. A credit that is larger than the taxes owed is returned to the taxpayer in the form of a refund.   The home can cost no more than $800,000 and qualifying income is limited to a maximum of $125,000 for single taxpayers and $225,000 for joint taxpayers.

      Homeowners filing for the home buyer tax credit are not allowed to use electronic filing and must file hard copies due to special documentation requirements.   Earlier this year, the Internal Revenue Service (IRS) deployed new home buyer tax credit forms and instructions requiring forms that will force taxpayers to file on paper, rather than electronically.     The new home buyer tax credit filing rules are to ward off a repeat of 90,000 taxpayers who fraudulently claimed the credit, according to the U.S. Treasury.

      Existing home owners applying for the $6,500 maximum tax credit must additionally prove they lived in their old home for the required period.
      To do so, options are:
 File IRS Form 1098, “Mortgage Interest Statement.” IRS Form i1098 offers the instructions.
 Also, supply mortgage interest statements or property tax records or homeowner’s insurance records.
      Again, because some of the documents required are not standard tax forms, taxpayers seeking the credit cannot file electronically.
      They can, however, use off-the-shelf tax software or the IRS Free File online software to prepare returns, but they must still print out the return and mail it in with the required documents.
      In addition to accuracy and compliance, the only other way to speed up any refund is to request, with the return, that the home buyer tax credit refund be deposited directly into a bank account.

Aaron McCollum is a third generation member of Project Talent, the MKUltra program used to develop psychic warriors and supersoldiers by the secret government. He is coming forward to speak about the Stargate in the Gulf of Aden and the information he is getting in this regard from secret sources, his own intuition and his conclusions based upon research.

– Shot and edited by Kerry Lynn Cassidy, Project Camelot January 2010

http://projectcamelot.org

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Rollin thru the boundaries of LA County….Woke up in Inglewood, stopped in Pasadena, pushed to Northridge to dispensary (50$ jedi kush 1/8) cuz that was my last blunt, to Pomona to post up with my locs and my blood relatives, picked up Noccr the Nuisance and ended up at my cuzzn Lil Dave’s in LBC……I hear Hollywood is jumping off later too. I need to swoop by Jay Burnas in Compton and chop-it-up…. just another day in the life of the Rider Proph!

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See a Virtual Tour at: http://www.CirclePix.com/BPVNM2
Contact Sonny Tan, with Pacific Coast Real Estate, at 626-674-8858, for more information about this property.

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Home View Video Tour, 621 Indiana Terrace, South Pasadena, CA 91030, www.homeviewllc.com, www.homeviewvideotours.com

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Early, Early August 2009 Follow Up!!

You heard it hear on June 6 roughly 2 months ago about the housing market now here is more of the proof and actual physical results:

As you can see from these late July results some markets are actually experiencing price increases.
At Bella Sol Luxury Villas on Tampa Bay we have gone to contract on 4 units in the last 60 days. Upscale savvy buyers are scooping up the most choice villas in fact I only have one Penthouse left!!

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WELCOME TO NEW TAMPA!
JUST OUT – Tuesday June 3 on fast Money CNBC from Washington….pending home sales increase 6.7% in April month-to-month. That is the 3rd straight month of rises in the pending homes sales index. Buyers are responding to favorable market conditions such as: 1) Increased affordability, 2) The first time home buyer tax credit and 3) Low, low mortgage rates.
This is backed up by Bloomberg’s News Article dated May 27 which stated the following:
Home resales in the US rose for the second time in 3 months in April as foreclosure auctions and cheaper prices spurred bargain hunters, supporting the case for an end to the industry’s slump this year. “The housing market is beginning to stabilize,” Fed Chairman Ben S Bernanke said in congressional testimony on May 5. “We continue to expect economic activity to bottom out, then turn up later this year.”

Locally, a pick up in sales has helped trim the glut of unsold homes, with the most desirable homes being the first to sell. This decrease in inventory leaves the buyers who are waiting for “the bottom” (who knows when that will be, but it’s close) finding that the less-than-desirable properties remain. Compound that with the risk of mortgage rates increasing and you have even more reason to BUY NOW. For first time homebuyers, the $8,000 tax credit applies to purchases completed before Dec 1, 2009. Short sales (a large part of our current market) can take 90 to 120 days or more to close, so first time homebuyers need to BUY NOW. Multiple bids are now common on foreclosure sales and even short sales, so you may have to make several offers before getting a contract, so BUY NOW to get the best deal on a great home!
New Tampa currently has 548 active listings, with 394 sales from Jan-May. At this rate there is only a 7 month supply of inventory!
Search all Tampa Bay properties at www.TampaCoastalHomes.com or better yet,
call me for your FREE boat tour! Call (813) 390-7606

Thanks,
Bonnie

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