Sandy Speaks…

I had to write my annual poem
   As 2009 comes to an end
I am full of love and gratitude
   That to all of you I had to send.

Jake is now three years old
   He is friendly and such a little man
He is very tall with a head full of curls
   He speaks Spanish, sings songs, and is Mommy’s biggest fan.

Stephanie is a full-time student now
   And I can’t believe that Hailey has turned ten
I lost both Shakespeare and Spencer
   I sure miss my sweet, furry friends.

My family is happy and healthy
   A great-nephew named Luke Ryan arrived
I’m available to consult about real estate
   I still eat Mila each day to feel healthy and alive.

I created Gratitude Boot Camp
   Where I coach about counting your blessings
There is a Gratitude Boot Camp fan page on Facebook
   I can’t wait to see what miracles GBC brings.

I’m the Leader in Orlando and Celebration
   For a wonderful organization
Women’s Prosperity Network
   Is expanding throughout the Nation.

I’ve created a mantra for the New Year
   Let’s all say it together
Stand tall, Smile, and Shout Out Loud
   “2010 is my best year EVER”!

           HAPPY NEW YEAR!!

This update on the new tax credit for homebuyers is courtesy of Steve Birk with Element Funding.  I have personally used Steve for the financing of my home and have referred customers to him and they have all been extremely satisfied with his professionalism, knowledge, and service.  For all of your mortgage needs, Steve can be reached at SBirk@ElementFunding.com or at 407.367.5573.  Here is the information:

*First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000.

Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

*Current Owners: The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.

Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

*What are the New Deadlines?

In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.

*Tax Credit Versus Tax Deduction

It’s important to remember that the tax credit is just that… a tax credit. The benefit of a tax credit is that it’s a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a first-time homebuyer were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.

Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000!

*Higher Income Caps

The amount of income someone can earn and qualify for the full amount of the credit has been increased.

Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible

Joint filers who earn up to  $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.

*Maximum Purchase Price

Qualifying buyers may purchase a property with a maximum sale price of $800,000.

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Remember, the new tax credit program includes a number of details and qualifications. For more information or answers to specific questions, please call or email Steve today.

In addition, you may be able to benefit from additional housing related provisions, including the following:

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*Tax Incentives to Spur Energy Savings and Green Jobs

This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.

*Landmark Energy Savings

This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.

*Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing

This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs. Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section 8) to increase energy efficiency, including new insulation, windows, and frames.

*Expanding Housing Assistance

This provision increases support for several critical housing programs. It includes $2 Billion for the Neighborhood Stabilization Program to help communities purchase and rehabilitate foreclosed, vacant properties.

If you have any questions about your specific situation or would like to discuss how you may benefit from this program, please call or email Steve and he will meet with you to discuss your needs.  Again, Steve can be reaced at SBirk@ElementFunding.com or at 407.367.5573.

If you would like to receive a list of homes that have your desired criteria or have any questions about purchasing a new home, please feel free to contact me at 407.592.HOME (4663) or at Sandy@SandySellsFlorida.com.  It would be a pleasure to serve your real estate needs.