Senate Votes On Home Tax Credit

Senate Committee Says YES
House & Senate Vote Next!


BREAKING NEWS: Senate Plans to Extend and Expand Tax Credit
The Senate has reached a compromise on extending and expanding the $8,000 tax credit for 1st time home buyers, a boost for the housing industry and a great opportunity for both buyers & sellers!

While its final passage remains uncertain, the agreement would extend the existing credit for 1st time home buyers, worth up to $8,000, plus offer a new credit of up to $6,500 for some existing homeowners. The reduced credit would be available to all homebuyers who have been in their current residence for a consecutive five-year period in the past eight years. Lawmakers also raised the qualifying income limits to $125,000 for single taxpayers and $250,000 for joint taxpayers, from the current $75,000 and $150,000, housing-industry sources said. Under the Senate compromise, buyers must have sales agreements in hand by April 30, but they will have until June 30 to go to settlement, said the sources. The measure still faces votes in the full Senate and the House.

The new provisions are aimed at broadening availability of the credit beyond first-time buyers and giving the weakened real estate market a bigger boost while preventing real estate investors from benefitting. While Senate lawmakers appear to have reached a deal on the substance of the tax credit, they are still at odds over how it would be brought to the Senate floor.

This Is Great News For Buyers and Sellers!
There are incredible properties available for buyers at prices that may not be seen again in our lifetimes. This means that more buyers will be in the market and that increases the odds for sellers. Insiders do not expect these incentives to be renewed again so buyers must take action now to get pending contracts before April 30th 2010.

Stay tuned for additional details as the legislative process continues. Please contact your elected officials and encourage them to "vote yes" to pass this important legislation!

The Window Of Opportunity Is Officially Open - Don't Miss It!
Please Contact Us To Get Started Today!

Milicki & Associates, Inc.
www.Milicki.com
information@milicki.com
770-874-2022
110 Evans Mill Dr. Suite 103
Dallas GA, 30157

First-Time Homebuyer Credit Provides Tax Benefits to 1.4 Million Families to Date

The IRS has released IR-2009-083 reporting that approximately 1.4 million taxpayers have filed (or amended) there 2008 income tax returns claiming the $8000 first-time homebuyer tax credit. The IRS release of informaiton also reminds taxpayers of the importance of getting your home purchase closed before the December expiration of the tax credit. The IRS has publicized a YouTube video it has prepared to help taxpayers understand the basics of the tax credit.

The National Associations of Realtors (NAR) continues to put forth it full effords to extend the credit into 2010. Read the IRS Press Release.

Anita C. Young
Milicki & Associates, Inc.
110 Evans Mill Dr.
Suite 103
Dallas, GA 30157
770-874-2022
866-966-3022 toll free
information@milicki.com
http://www.milicki.com

Selling You Home, Do You Know Your Buyers Market?

Before you put your home on the market there are a few thing that you should consider.
What is the market for your home? Who would be the best agent to help you market your home? What are the positives and negative of my neighborhood that buyers will be looking at?

Understanding the buyer market and who might be a good fit for your home will help ensure that you highlight the most vital features. There are so many different kinds of buyers that might consider your home: single first-time, working couple, family, retirees or empty nesters, and a growing buyer market are women who purchase homes without spouse/partner.

Before putting your home on the market, you should take time to search for the best agent to handle your transaction. The agent can help you better understand which buyers are most likely going to be interested in your home. If there is a concern that needs addressing, an eyesore in the neighborhood or a foreclosure that’s been sitting on the block for several months; don’t be afraid to talk about it. The potential buyers are aware that it’s there (if they do their homework).

Even though you may have lived in your neighborhood for years, taking the time to drive or walk around it is a good idea. But this time do it with the same viewpoint you had when you were originally considering buying your home. It can really be a very different view. If you’re objective, you’ll see both the key selling points of the neighborhood as well as the things that may deter buyers. Seeing it all is beneficial because that’s exactly what potential buyers will see.

Making your home ready for your specific buyer market will help you not waste time marketing it to uninterested buyers. The house needs to be spotless, have great curb appeal, and evoke a warm and welcoming feeling with a few amenities. However, it is important to understand that in this economic era the home must also be basic enough to be affordable.


Milicki & Associates
Real Estate Specialists
110 Evans Mill Drive Suite 103
Dallas, GA 30157
Main: 770-874-2022
Fax: 770-874-2027
Email: info@milicki.com
www.milicki.com