Becky Babcock's Blog

April 30, 2010 is the deadline for first time buyers and move up buyers to have a contract on a home and be eligible for tax credits!  Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold as a principal residence for five consecutive years within the last eight years will qualify. To qualify as a first-time home buyer the purchaser or his or her spouse may not have owned a residence during the three years prior to the purchase. Each home buyer’s tax credit is determined by two factors, the price of the home and the buyer’s income. 

Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close to be eligible for the credit. The buyer does not need to repay the tax credit, if the buyer occupies the home for three years or more. However, if the property is sold during this three year period, the full amount of the credit will have to be repaid on the sale.

For more information on these tax credits, consult with your CPA or tax attorney.  You may visit www.BeckysRealEstate.com/library.html and read more about this topic in the 2010 Home Buyer Tax Credit document.

I love the new iPhone app from Realtor.com.  It has a GPS enabled feature to search nearby homes.  

Technology has made real estate more efficient and smart.  My listing presentation has an entire section just showcasing some of the technology I use.  It helps my team do a better job for our buyers and our sellers!

Just turned in sales for last year and had $25 million (110 sales) in sales in 2009, compared to $24 million(94 sales)  in 2008!  Watch out 2010!  It is already starting out great for our team.  Check us out at www.BeckysRealEstate.com.

Overall in 2009, sales numbers were up slightly and sales prices were down.  Expectations for higher interest rates the second half of the year plus expiration of the homebuyer tax credits April 30 should make the first half of 2010 a better time for sellers and buyers than the second half of 2010.  Check out the deals, including Cherokee, Fulton, Forsyth, Cobb, and Pickens Foreclosures at www.beckysrealestate.com.

Nationally, good news for the real estate market was announced late in 2009 as Congress extended and expanded the Home Buyer Credit to include not just first time buyers, but also move up buyers.  There are guidelines and deadlines to follow, so if you are interested in the details, they are posted on my websites at www.beckysrealestate.com, www.lake-arrowhead-ga.com, and www.bradshawfarmhomes.com.  Eligible first time buyers can receive up to $8000 and move up buyers up to $6500.

Welcome to my new 2010 blog, used to communicate the lastest real estate news from North Metro Atlanta, including Cherokee, Fulton, Cobb, Forsyth, and Pickens Counties.  Visit my primary website at www.beckysrealestate.com and my specialty sites at www.lake-arrowhead-ga.com and www.bradshawfarmhomes.com for info on the latest homes for sale from the local MLS, as well as my featured listings!