Tax Breaks Beneficial for Buyers, Sellers and Owners

RISMEDIA, August 29, 2009-First-time homebuyers aren’t the only ones to benefit from tax breaks. H&R Block urges homebuyers who are relocating for work or buying for other reasons to take advantage of incentives that can lower their tax bill. Plus, sellers should know how to report profits and losses to avoid a hefty tax bill.
“Now is a great time to buy or own a home,” said Amy McAnarney, executive director of The Tax Institute at H&R Block. “There are great tax incentives for buying and owning a home, whether you’re a first-time homebuyer or a repeat buyer. People selling their homes also need to know if they’ll need to report the profit to the IRS.”
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Homeowners Save Energy, Cash with Tax Breaks

RISMEDIA, August 28, 2009-(MCT)-Bob Menconi enjoys his newly replaced air conditioner at his house. The A/C was replaced by a federal tax rebate. So your car isn’t a clunker? And you’re not buying a new home? But maybe your air-conditioning unit is on the fritz. Or your small business needs new equipment or office furniture. Perhaps you have always wanted solar panels. Then there is a tax break waiting for you, too.
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Mortgage Rates Still Near Record Lows

Long-term mortgage rates remain near record lows, despite rising slightly this week. Freddie Mac reported that average interest on a 30-year fixed loan was 5.14 percent, up from 5.12 percent a week ago.
Rates for 15-year home loans, meanwhile, rose to 4.58 percent from 4.56 percent last week.

First-Time Home Buyers Dominate Real Estate Market

RISMEDIA, August 27, 2009-With the first-time home buyer’s tax credit in full effect, younger buyers are taking the opportunity to enter the real estate market and the New Jersey real estate market has seen its fair share of first-time buyers enter the playing field recently. Across the state, agents are finding that they must consider the first-time home buyers’ unique needs and adapt to this new type of client. “Those first-time home buyers who’ve entered the housing market- drawn by the perfect storm of historically low interest rates, attractive prices and the $8,000 tax credit- expect much more from their Realtors,” said Dave Liniger, Co-Founder of RE/MAX International. “They want access, they want answers, and they want ongoing communication through text messaging. They just want to know, ‘How fast can I get the information?’ and ‘How available are you?’”
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Strong Gain in Existing-Home Sales Maintains Uptrend

RISMEDIA, August 25, 2009-For the first time in five years, existing-home sales have increased for four months in a row, according to the National Association of Realtors®. Existing-home sales- including single-family, townhomes, condominiums and co-ops- rose 7.2% to a seasonally adjusted annual rate of 5.24 million units in July from a level of 4.89 million in June, and are 5.0% above the 4.99 million-unit pace in July 2008. The last time sales rose for four consecutive months was in June 2004, and the last time sales were higher than a year earlier was November 2005.
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