There has been lots of questions about the tax credit for First Time Home buyers.  The video below gives you a detailed explanation of this credit!

 Summary of the video

• First time home buyers are identified as a person who has not owned a home as their primary resident for the past 3 years
• Qualifying homes are new homes, existing homes, condos or townhomes
• Individual will only qualify for the tax credit as long as the home they is their primary resident and haven't owned a primary in the last 3 years.

Running the Numbers

The tax credit is 10% of purchase price up to $8000. The amount of money you can qualify for is related to amount of money you earn.  below is a breakdown of how it works

• Single Home Buyers earning $95,000 or less qualify. if you make $75,000 or less you qualify for the full $8000. The credit phases our gradually between $75000and $95000 of income. For example if you earn $85,000 you will earn up to half the credit or $4000.
• The same rate applies to Married and Joint buyers whose income limits double to $150,000 - $170,000.   The credit phases out gradually between $150,000 - $170,000. for instance at $150,000 and under you would receive up to the full $8,000 credit, while you if you are making $160,000 you will earn up to the $4000 credit.

 Couple more points to consider

• This credit is for First time home buyers that purchase a home Between January 1 2009 and December 1 2009.
• Historically low interest rates make this an amazing time to buy.
• If you are committed to purchasing a home this year consult your Certified CPA to see what your options are with this credit

If you are looking for this opportunity please call your trusted Real Estate Consultant today.

Red Day was a huge success!  We hit over 20 homes in St. Charles and Geneva, also worked with Salvation Army box lunches for the area.    Over 40 agents particpated in the area particpated as well as over 1000's of agent nationwide.

In our area we raked leaves, painted rooms, weeded gardens, cleaned windows, basic yard work, and cleaned gutters.  We couldnt have picked a better day to do all of this (as you can see in the pictures) it was a beautiful sunny day, where it was sunny and warm enough for outdoor.  

Special thanks goes to Tammy from the Salvation Army helping us find homes that needed help!

In case you are not aware, Keller Williams International is hosting a Red Day on May 14th.   This day is when all Keller Williams agents give back charitably to their local Markets.  Our office that day is teaming up with the Salvation Army, and going to 20 different homes (already established homes) and doing various projects for those homes. the projects will consist of

• raking leaves
• cleaning gutters
• washing windows
• painting rooms
• basic yard work
• other projects

When you see a mass of red shirts around your area that is what we are doing!  

Click here for more information

Enjoy your day!