Susan’s Pondering

Since it was passed into law in February of this year, the $8,000 First Time Home Buyer Tax Credit has become the “new black” in the Real Estate Industry. Thousands of people have taken advantage of this wonderful opportunity and are experiencing homeownership today.

Do All Good Things Come To an End?!

Eventually, but how about this for some good news: The First Time Home Buyer program originally expired November 30th, but has recently been extended through April 30, 2010! That IS good news!

But what if you already own a home? What if you have owned many homes in your lifetime? What if you are just a few payments away from becoming mortgage-free?
Today, let’s PONDer…

NEW! ~ $6,500 Move-Up/Repeat Home Buyer Tax Credit ~ NEW!

You say you have not heard of this credit? I’m not surprised. The bill was passed just a few weeks ago on November 6, 2009.

Eligibility for the Move-Up/Repeat Home Buyer Tax Credit (in a nutshell) is as follows:
• You must have owned your home & lived in it for 5 consecutive years out of the past 8 years.
• Just like the First Time Home Buyer Tax Credit, it does not have to be repaid to the government.
• The Tax Credit is equal to ten percent of the purchase price up to $6,500 and only applies to homes priced at $800,000 or less.
• Homes must be purchased between November 6, 2009 and April 30, 2010.
• A single taxpayer qualifies for the full tax credit as long as his/her income is $125,000 or less and a married couple filing a joint return qualifies with a combined income of up to $225,000.

The above information is an overview. If you have questions or concerns, please contact me today to discuss either one of these Tax Credits in more detail. As you can see, time is of the essence. Once these programs disappear, who knows if they will return.

I firmly believe that now IS the VERY BEST time to buy a home! If you believe this, too, call me today and let’s… PONDer our Possibilities!

P.S. Want to close by December 31st and claim your tax credit this year? Check out my listings on my website at www.susanpond.com, one of these homes may be just right for you!

This weekend we went to my family’s cabin in Allenspark. The drive up the South Saint Vrain Canyon is beautiful with little traffic. We stopped and witnessed kayakers coming down the St Vrain River, through the Narrows, heading to Lyons. I was amazed at the rapids these kayakers were going through. There were a lot of spotters roped off on side of river to assist if anyone needed help, encouraging and timing the participants. Our timing was perfect to allow us this experience.

My parents purchased the cabin in 1972 for the location, 30 minute drive from Longmont and Boulder making this possible to come to after work. We have used the cabin, creating many memories, throughout the years. The atmosphere is conducive to immediate relaxation. A day in the mountains is priceless to me. The smell of pine trees; glittering aspen leaves waving in the breeze; the intensive blue sky; the fresh, crisp air in the morning; the quietness away from fast paced life of the plains are all reasons why I love spending time at the cabin.

I recently was asked the question, “Can I get my parent to co-sign on my new home loan AND still get the first time home buyer credit?” Great question! I asked a lender and here is the SURPRISING findings ~

If you are NOT married to the co-signer the first time home buyer will still be eligible for the refund even if the co-signer owns a primary residence. This is GREAT NEWS and an UNBELIEVABLE opportunity! Spread the word to your family members and let’s get them into their first home!

PONDER the possibilities!!!