Archive for First-time Denver Homebuyers
Pending Home Sales Rise in Denver Area
Denver Real Estate Market Bucks National Trend
The Denver Post reported today that nationally, the number of previously owned homes declined 7.6 percent from December to January, while pending home sales in Denver increased 21.9 percent during the same period.
This is just one more piece of good news for the Denver real estate market, which has been predicted to rebound more quickly than most other areas in the United States. Denver homebuyers are responding to the once-in-a-lifetime tax credits that are being offered.
For more information on how you can take advantage of the government tax credits, or regarding Denver homes, please contact TeamCox Realtors at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Does $6,500 Cashback Sound Good?
TeamCox Realtors – Denver real estate specialists – and ALMC Mortgage have teamed up to offer a Homebuyer Training for 2010 Repeat Buyers and First-time homebuyers and YOU are invited!
There will be door prizes, light refreshments and industry professionals available to answer questions! We will address the following topics:
• Why should I buy again?
• What are “HUD homes,” and are they a good deal?
• Should I look at a “Short Sale or a bank owned property?
• Should I use a real estate broker! How do I find one?
• How much money will I have to come up with to buy a home?
• How do I know if I can get a loan? And How do I lind a lender!
• I know there are lots of types of mortgages – how do I know which one is best lor me?
• When I lind the home I want, how much should I seller?
• vVhat if my offer is rejected or countered?
• I have to sell my current home first-what are the steps?
• How to qualilfy for $6500 in income tax credits-ACT by APRIL 30th.
Please join us Jan 21st from 7pm-8:30pm Lil’ Ricci’s NY Pizza at 15352 E Ida Drive Centennial. Please RSVP to 303-696-6933 or Cheryl@almcmortgage.com by Wednesday Jan.20th 2009.
First-time Homebuyer Tax Credit Expanded to Include Move-Up Buyers
Good News for Denver First-time Homebuyers AND for Denver Move-Up Buyers!
There is more good news today for the Denver housing market. Congress has voted to extend the current tax credit for first-time homebuyers, along with expand it to include buyers who already own their homes. First-time Denver homebuyers, including anyone who hasn’t owned a home in the last three years, will still receive up to an $8,000 tax credit for contracts signed by April 30 and closed by June 30th of 2010. This is an extension on the bill that was set to expire at the end of this month.
First-time Denver homebuyers aren’t the only ones helped by this bill, since it allows for up to a $6,500 tax credit for current Denver homeowners, who have been in their home for at least five years. The time frame is the same for this tax credit (for contracts signed by April 30 and closed by June 30th of 2010). The credit is for residences that are purchased for $800,000 or less. The President is expected to sign this into law on Friday.
This should be a big help to a Denver real estate market that is already in recovery mode. If you are eligible for this credit, don’t miss your opportunity to take advantage of this once in a life time opportunity. For more information regarding Denver real estate, or regarding the tax credits, please contact TeamCox Realtors at 303-400-6060.
Read More About the Homebuyer Tax Credit
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Buying Your First Home is No Longer Just a Rite of Passage
If you are sitting on the fence, trying to decide if this is the right time to buy a home, you’ve probably heard this before.
A first-time buyer, or someone who has not owned a home during the past three years, has the opportunity to take advantage of an $8000 tax credit that is due to expire on November 30, 2009. The Denver housing market still has a good inventory (that is shrinking), low housing prices that are beginning inch up, and low interest rates that are almost assuredly going to increase.
While all of this fundamentally makes sense for a home purchase, we believe that the key reason that people purchase a home is to enhance their lifestyles. It is still about having a place to call home – a place where you do not have to ask the landlord for permission to paint the walls or to dig in the garden. A place where you can put down roots, throw a ball for the dog and dig in a garden-or not! There has always been a bit of status that comes with homeownership. It’s cool to be able to discuss the neighborhood schools, the dog park, or the close proximity to shopping or your favorite restaurants.
There is not a time that I can remember homeownership coming with a greater respect. Owning a home is no longer a “rite of passage,” but a proof of creditworthiness and responsibility. It is a signal to relatives, friends, and employers that you are reliable and truly a member of the big league.
If you feel that owning a home is now right for you, please contact TeamCox Realtors – your Denver real estate specialists – at 303-400-6060. We will make your dream of home ownership come true.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Clock is Ticking on First-Time Homebuyers Tax Credit
We would like to take this opportunity remind all of Denver’s first-time homebuyers that the clock is ticking to take advantage of the $8,000 tax credit. In order to allow lenders sufficient time to process loans by the November 30th deadline, buyers should have their offers accepted by late September. This means that there are only a few weeks left to find your first home. Please click here to read the details on the tax credit.
Don’t miss your opportunity to take advantage of a Denver buyer’s market, and of this tax credit. For more information regarding Denver real estate, please contact TeamCox Realtors at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own
First-Time Homebuyers Driving Denver Real Estate Market
TeamCox Realtors has noticed a significant trend emerging over the past few months – First-time homebuyers are dominating the Denver real estate market. This hunch was substantiated by recent statistics from Metrolist and by a 7News story that ran last week, revealing that over 58 percent of April Denver-area home sales were priced between $110,000 and $300,000.
Denver homebuilders are also taking note of this new trend, and are going after this niche market in droves. Richmond Homes, which has had great success with its Seasons collection, is introducing another new product line aimed at first-time hombuyers that boasts gourmet kitchens. DR Horton is also touting Denver-area homes that priced below $200,000 on its website.
Whether you are looking for a brand new home, or a century-old one, the time is right for first-time homebuyers in Denver. The stimulus package includes many incentives for first-time buyers, including:
- A tax credit of $8,000
- Tax credit is 10% of purchase price, but no greater than $8,000
- The income limits remain the same: ($75,000 for an individual; $150,000 for a couple)
- FTHB (no ownership in last 3 years) and principal residences only
- Tax credit is available until December 1, 2009
- Recapture of tax credit is now waived (no repayment required) as long as the buyer lives in the home for three years
- The provision is retroactive to purchases made on or after January 1, 2009.
- Waiver of prohibition on financing by mortgage revenue bonds is included
- Married: both have to be FTHB’s
- Tax credit will be claimed on federal income tax return
For information on purchasing your first home in Denver, please contact TeamCox Realtors at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Who Qualifies for the First-Time Homebuyer Credit?