First Time Home Buyers Class

Blogging From The Desk of Alicia Lagarde-Craig

Attention First Time Homebuyers:

Make Plans to attend a FREE FIRST TIME HOME BUYERS CLASS (Pre-Registration is REQUIRED to attend)

Take advantage of this educational event hosted by Keller Williams Realty New Orleans, America’s 3^rd largest and fastest-growing real estate company! This is a fabulous opportunity to have all your questions answered. Learn all the steps to the home buying process including: how to make your best offer and pitfalls to avoid that will save you time and money!

FIRST THREE REGISTRANTS WILL RECEIVE A FREE COPY OF THE NEW YORK TIME’S BEST-SELLER ‘YOUR FIRST HOME – THE PROVEN PATH TO HOMEOWNERSHIP’ BY GARY KELLER

Event Time & Location:

Tuesday, June 23, 2009

Keller Williams Realty New Orleans

8601 Leake Avenue (Leonidas at the river)

New Orleans, LA 70118

Seating is Limited, Register Today

(Pre-Registration is REQUIRED):

Call The Craigs For Real Estate

Call Alicia Lagarde Craig at (504) 382-3724 or email your contact information to alicialagarde@kw.com (put “homebuyer class” in subject line)

Keller Williams Realty New Orleans, each office independently owned and operated. Alicia Lagarde Craig, agent licensed in the State of Louisiana. 6/09

First-Time Home Buyer Class

Blogging From The Desk of Alicia Lagarde-Craig

Don't Miss This Fabulous Opportunity to attend a First Time Home Buyers Class hosted by Keller Williams Realty New Orleans. It will be held on Tuesday June 23, 2009 at Keller Williams Realty in New Orleans. This class will be held from 6:00 pm - 7:30 pm. (Class Details Below)

Come find out why Keller Williams is the 3rd largest Real Estate Company in the United States. It's because your success is our goal!

Class Details:

Event:

First Time Home Buyers Class @ Keller Williams Realty New Orleans

Address:

8601 Leake Avenue

New Orleans, LA 70118

Time:

6:00 PM - 7:30 PM

Goal:

To teach the steps necessary to buy and maintain a home.

Registration:

Call or Email to Reserve. Seating is limited!

Alicia Lagarde Craig @ 504-382-3724 or AliciaLagarde@kw.com

or

Jeff Craig @ 504-352-6190 or JeffCraig@kw.com

$8000 Tax Credit- Updated Guidelines 5.29.2009

Blogging From The Desk of Alicia Lagarde-Craig

Thousands of first-time homebuyers will be able to get short-term loans so they can quickly make use of a new $8,000 tax credit that was designed to boost the battered U.S. housing market.

The Federal Housing Administration on Friday released details of a plan in which borrowers who use FHA loans can get advances from lenders that effectively let them receive the credit before they complete their taxes.

The FHA had no estimate of how many borrowers would qualify. But the agency, which backs about a quarter of new home loans, is projected to guarantee about 2.2 million loans in the next budget year.

Borrowers can claim the credit by filing an amended 2008 tax return or can wait for their 2009 return.

The change "will present an enormous benefit for communities struggling to deal with an oversupply of housing," Housing Secretary Shaun Donovan said in a statement.

Borrowers will still have to come up with the FHA's required 3.5 percent down payment, unless they work through a state or local housing program. But officials say the money can still be used for closing costs or a larger down payment.

The tax credit was included in the economic stimulus package signed by President Barack Obama in February.

Send all questions to: AliciaLagarde@kw.com

First-Time Home Buyer $8000 Tax Credit (2009)

Blogging From The Desk of Alicia Lagarde-Craig

The recently passed American Recovery and Reinvestment Act, including the $8,000 tax credit for first-time buyers, presents an excellent opportunity for buyers ready to take advantage of today’s affordable market. Nonetheless, many first-time buyers might be unsure just exactly how the tax credit works or how it improves upon a similar credit offered last year.

I hope this blog will help you to understand the advantages of the $8,000 tax credit and capitalize on this financial incentive before it is no longer available. If you have any questions, please call Alicia at (504) 382-3724.

The American Recovery and Reinvestment Act of 2009 offers an $8,000 tax credit for first-time buyers who purchase a home on or after January 1, 2009 and before December 1, 2009.

Here are the specifics of the $8000 tax credit:

*The temporary credit is only available for home purchases made from January 1, 2009, but before December 1, 2009 and is equal to 10 percent of the cost of the home, up to a maximum credit of $8,000. (For example, a home purchased for $80,000 or more would qualify for the full $8,000 credit, while a $50,000 home would only qualify for 10 percent, or $5,000).

*Only first-time homebuyers can take advantage of the tax credit. A first-time buyer is defined under the tax credit as an individual who has not owned a home in the last three years. For married joint filers, both must meet the first-time homebuyer guidelines in order receive the tax credit when filing a joint return.

*There are income guidelines on the tax credit. Individuals with an adjusted gross income up to $75,000 (or $150,000 if filing jointly) are eligible for the full tax credit. The credit is phased down for those earning more and is not available for those with an income above $95,000 (or $170,000 if filing jointly).

*Buyers claim the credit on their federal income tax return to reduce their tax liability. If the credit is more than their total tax liability for that year, the buyer will get a refund check for the balance.

*Eligible properties include anything that will be used as a principal single-family residence. Single-family residences also including condos and townhouses.

*The new tax credit does not have to be repaid if the buyer stays in the home at least three years. But if the home is sold before that, the entire amount of the tax credit is recovered from the sale. People who purchased homes under the 2008 $7,500 tax credit program will still be required to repay that credit to the government over a 15-year period.

Send comments to AliciaLagarde@myNOLAhome.com