Have you heard of the first-time homebuyer’s tax credit extension? Last month, President Obama signed the extension to help first-time homebuyers (who didn’t get their sales in by November 30th) buy a house that meets their needs. What about those who already own Signal Mountain homes, are doing well and want a larger home?

To those who already own a home, Merry Christmas! The Workers, Homeownership and Business Assistance Act of 2009 didn’t just come with an extension; it came with improvements. Those in governmental positions of authority reasoned that if someone wanted to get a bigger home, they should get some kind of help too, thus further helping the overall real estate market.

If you own a home, you can now receive up to $6,500 in tax credits for buying one of the Signal Mountian homes for sale. The actual wording is “$6,500 or 10%.” Here are a few of the important points you need to know:

• Income Qualifications – Your modified adjusted gross income (MAGI) as a single taxpayer must be less than $125,000 ($225,000 if you file jointly). Partial credit may be received by those with a MAGI of less than $145,000 (single) and $245,000 (jointly).

• Home Ownership Qualifications – You must have lived in the home you own for five consecutive years out of the past eight to qualify. You do not, however, have to currently own the home you’re using to qualify. The key terms are “five consecutive years” and “in the past eight years.” If you lived in your home for five years straight, but sold it two years ago, you are still eligible for the tax credit. If you’re filing jointly with a spouse, both you and the spouse have to qualify.

• Cost Qualifications – The cost of the home doesn’t have to be more than the home you already own, but it does have to cost less than $800,000. As a side note, the government has put a definitive cap on the housing costs. If the home you’re looking at is a solid, non-negotiable $801,000, it isn’t eligible for the credit.

• Purchase Date – The final date for the purchases to be secured is April 30, 2010. The actual closing date must be finalized before June 30, 2010.

Most couples move into a home thinking they will “eventually” get a bigger home once they have a family. Then the family comes along, the house is full and they can’t buy a larger home due to financial issues. The tax credit is a perfect opportunity for families to find Signal Mountain homes that fit their expansion needs. Take a chance and look around; your dream home may be only a city block and $6,500 away!

If you’re looking to expand and take advantage of the tax credit, I can help. Call me at 423-488-1882 or email me at travis@travisclosehomes.com for more information.

Keyword/Tag:  Signal Moutnain homes

Links:

First time homebuyers

http://www.federalhousingtaxcredit.com/

Modified adjusted gross income

http://www.moneybluebook.com/adjusted-gross-income-and-modified-adjusted-gross-income/

Tax credit

http://www.irs.gov/newsroom/article/0,,id=204671,00.html

It’s getting close to Halloween, and families across the nation are slowly but surely decorating their Signal Mountain homes.  The spirit of the season is in the air, the leaves are changing colors, and pumpkins are going up for sale.  It’s time to carve!

Picking Tips

• Make sure your pumpkin has a stem; it won’t last very long if it doesn’t.
• The pumpkin needs to have a flat bottom so it won’t roll.
• No holes or soft spots, because they’ll rot.
• Choose a light-colored pumpkin for easier carving, or a dark colored pumpkin for a longer lasting decoration.

Pattern Tips

On the steps of Signal Mountain homes everywhere, pumpkin faces sprout fangs and witches ride their brooms.  Maybe you want your carvings to stand out, though.  Here are a few things to look at when choosing a pattern:

• Keep in mind who’ll be doing the carving.  Smaller children generally have a harder time with detailed carvings. 
• Carving patterns should be as large as the pumpkin you’re working with.
• If your design is elaborate, draw it out on paper first.  You can’t erase a cut.
• Remember that you have to leave space between the cuts.  The pumpkin has to stay together.

Carving Tips

• Before carving, wash the pumpkin and let it dry.

• Use good carving tools – or a sharp knife and a small serrated knife – for the more elaborate designs (unless you want to carve a difficult design with a spoon tip)
• Start at the center of your design and work outwards.
• Use petroleum jelly on the cuts after you’re done so the pumpkin will last longer.

Left-overs

Once you’re done carving, you’ll have a lot of left over pumpkin.  Instead of throwing it in the trash, try roasting the pumpkin seeds for a great snack, or using the flesh for a delicious pumpkin pie.

Soon, children will be visiting Signal Mountain homes in mass, and with these tips on pumpkins, patterns and carving (and candy, of course), you can have them oohing and aahing with delight.

Keyword/Tag:  Signal Mountain homes

LINKS:

Carving patterns – http://www.pumpkinlady.com/pattern.htm

Carving tools – http://www.pumpkincarvingtools.com/

Roasting pumpkin seeds – http://allrecipes.com/HowTo/Roasting-Pumpkin-Seeds/Detail.aspx

Cash in your pocket and equity in your Signal Mountain home?  If you’ve been thinking about making changes to your house but thought you couldn’t afford a remodel, it’s time to rethink the possibilities.  The payback on renovations in cost versus higher home value, should you decide to sell your house later, can be better than you thought.

Reason #1:  Lower bids from the contractors.  The home renovation business is falling with the current housing market, leading to lower bids for the homeowner’s remodeling project.  In addition, most contractors are willing to negotiate with you for a better price, leaving you with a beautiful remodel for an excellent price.

Reason #2:  Higher number of contractors to choose from.  Although homeowners are still making repairs and working on their houses, the number of bigger additions and fancy remodels is going down.  More contractors are competing against each other for your project.

Reason #3:  Lower financing costs.  If you have good credit and a steady economic foundation, you can get lower financing costs.  This, in turn, makes the project that much more affordable.

Reason #4:  Lower cost of materials.  Because the number of major remodels is dropping, the demand for materials (and thus the cost) is also dropping.

Reason #5:  Less waiting time for a top-rated remodeling contractor.  With a lower number of people wanting to remodel their Signal Mountain home, even top-rated professionals have a shorter waiting list.

Reason #6:  Better service.  With more competition, contractors are definitely giving “service with a smile.”  Calls are being returned faster; jobs are starting on time (or before!).

If you looked into remodeling your Signal Mountain home more than a year ago, now is definitely the time to do something about it.  However, even in this sweet time for remodeling, be aware of shady companies and shoddy work.  Do your research before accepting any contractor.

Want more tips like this?  Subscribe to my blog.  It’s easy, fast and free.

Keyword:  Signal Mountain home

Links:

1.  Payback on renovations

http://cgi.money.cnn.com/tools/renovation/renovation.html

2.  home renovation

http://homerenovations.about.com/

3.  Top-rated remodeling contractor:  if you have a contractor to recommend link to that page on your site or to their website, otherwise, link to:

http://www.bestcontractors.com/