Tuesday, January 13, 2009 4:27 PM
Updated: Tuesday, January 13, 2009 04:50 PM
By Kevin Mayhood
THE COLUMBUS DISPATCH
Battelle will invest more than $100 million and add about 200 jobs in Columbus, Dublin and West Jefferson, the nonprofit said today.
The research institute will announce the plans Wednesday to renovate, expand and build new office, laboratory and manufacturing facilities, spokeswoman Katy Delaney said.
Despite the downturn in the economy, Battelle's business has grown, particularly its work for national defense and homeland security.
Local leaders said they are pleased to hear of the plans and many will attend a Battelle press conference tomorrow morning.
More details will be provided then, Delaney said.
kmayhood@dispatch.com
Thursday, January 15, 2009
First-Time Buyer Tax Credit: A Reason to Buy Now
First-Time Buyer Tax Credit: A Reason to Buy Now The homeownership tax credit that the federal government created earlier this year is a hard-won tool at your disposal to encourage your customers to jump off the fence and get into the home buying market.
When you combine the tax credit with today’s continuing low interest rates, large selection of for-sale inventory, and low home prices, many of the pieces are in place for your customers to buy now.
How the Tax Credit Works
The First-time Home Buyer Tax Credit was passed this year as part of the Housing and Economic Recovery Act (H.R. 3221) on July 30 and targets any individual or household that hasn’t owned a home for at least three years. Taxpayers can take the credit on their 2008 tax return if they bought their house this year after April 9.
It’s worth up to $7,500 and can be taken in a single tax year. Authorization for the credit ends July 1, 2009, so if your customers wait to buy in the first half of 2009 they can take the credit on their 2009 tax return.
The actual credit amount is set as a percentage of the home purchase amount. That percentage amount is 10 percent, so your customers can get 10 percent of the home price credited against their tax liability, up to a maximum $7,500.
Income limits are $75,000 for individuals and $150,000 for households. Individuals whose income exceeds the $75,000 limit but isn’t more than $95,000 can still take the credit but on a reduced basis. The same thing applies to households earning up to $170,000.
Any house is eligible as long as it’s a primary residence and is in the United States.
Buyers Have 15 Years to Pay Back
To help keep the program cost effective for taxpayers, the federal government requires the tax credit to be paid back in small, 6.67-percent increments over 15 years. For that reason, some analysts have likened the credit to a 15-year, interest-free loan to help make home buying affordable.
There’s one restriction on the type of financing that your customers can use if they plan to take the credit. That restriction is on tax-exempt mortgage financing. That only applies if your clients are using below-market interest-rate financing from a public agency or nonprofit that’s funding the loan using proceeds from a tax-exempt mortgage-revenue bond issue. For most buyers, this won’t be an issue. It’s mainly an issue for low-income buyers using special mortgage financing.
When you combine the tax credit with today’s continuing low interest rates, large selection of for-sale inventory, and low home prices, many of the pieces are in place for your customers to buy now.
How the Tax Credit Works
The First-time Home Buyer Tax Credit was passed this year as part of the Housing and Economic Recovery Act (H.R. 3221) on July 30 and targets any individual or household that hasn’t owned a home for at least three years. Taxpayers can take the credit on their 2008 tax return if they bought their house this year after April 9.
It’s worth up to $7,500 and can be taken in a single tax year. Authorization for the credit ends July 1, 2009, so if your customers wait to buy in the first half of 2009 they can take the credit on their 2009 tax return.
The actual credit amount is set as a percentage of the home purchase amount. That percentage amount is 10 percent, so your customers can get 10 percent of the home price credited against their tax liability, up to a maximum $7,500.
Income limits are $75,000 for individuals and $150,000 for households. Individuals whose income exceeds the $75,000 limit but isn’t more than $95,000 can still take the credit but on a reduced basis. The same thing applies to households earning up to $170,000.
Any house is eligible as long as it’s a primary residence and is in the United States.
Buyers Have 15 Years to Pay Back
To help keep the program cost effective for taxpayers, the federal government requires the tax credit to be paid back in small, 6.67-percent increments over 15 years. For that reason, some analysts have likened the credit to a 15-year, interest-free loan to help make home buying affordable.
There’s one restriction on the type of financing that your customers can use if they plan to take the credit. That restriction is on tax-exempt mortgage financing. That only applies if your clients are using below-market interest-rate financing from a public agency or nonprofit that’s funding the loan using proceeds from a tax-exempt mortgage-revenue bond issue. For most buyers, this won’t be an issue. It’s mainly an issue for low-income buyers using special mortgage financing.
Friday, January 9, 2009
Price It Right Or Pay The Price! (Pricing - Part 1)
Written by Carl Medford, Real Estate Professional in Fremont
November 28, 2008 11:34 AM
Written by Carl Medford, Real Estate Professional in Fremont
November 28, 2008 11:34 AM
With doomsayers declaring that the housing market is freefalling and the media prophesying catastrophe, many sellers have abandoned any thoughts of selling. They’ve figuratively gone back to bed and pulled the covers over their heads.
The pundits are wrong.
Bottom line: local home sales are not dead.
Heed some basic advice and you stand a very good chance of selling your home even in this current market. As has been mentioned in countless other blogs, home preparation is critical for selling quickly and for top dollar. Additionally, professional home staging has proven to increase your chances of a sale.
However, there is only one basic point that will ultimately determine whether or not you sell your home. The Pareto principle states that 80% of effects come from 20% of the causes. In the case of your home this is certainly true: 80% of selling your home comes from one factor alone:
Price.
No matter how much time, effort and finances you invest in your home (the 20%), if it’s not priced correctly (the 80%) it won’t sell. In this enlightened Internet age, savvy buyers are attuned to a home’s true market value like never before. As Realtors put increasing amounts of information and pictures on the web, buyers are visiting “virtual open houses” and making effective buying decisions without viewing a home in person.
Buyers may love a specific home, but if they perceive that the price is too high, they typically assume the seller is over-optimistic and will not come down to a reasonable price.
As a result, they will usually not even darken your door.
It’s the harsh reality of the current market. If priced too high, your home becomes “invisible” to buyers. And it does so from the very start. Buyers will go on to look at other homes instead of yours.
So how do you price your home to sell?
1. Have your Realtor prepare a REALISTIC CMA. (Comparative Market Analysis) Look at EVERYTHING on the market in your area, not just "the chosen few" that you want to see.
2. Run the trends from your area. Usually your local MLS will provide your Realtor with extensive data.
3. Price AHEAD of the market. In a decreasing market, it must be priced BELOW the previous comparable sale or active listing.
Need to sell your home, but won’t get enough to pay off the loans? Then be honest with yourself and get a short sale specialist to help. Although aggressively setting the price is the highest obstacle sellers encounter when selling their home, in the end it is the one action that will reap the highest possible dividend:
A SALE!
The pundits are wrong.
Bottom line: local home sales are not dead.
Heed some basic advice and you stand a very good chance of selling your home even in this current market. As has been mentioned in countless other blogs, home preparation is critical for selling quickly and for top dollar. Additionally, professional home staging has proven to increase your chances of a sale.
However, there is only one basic point that will ultimately determine whether or not you sell your home. The Pareto principle states that 80% of effects come from 20% of the causes. In the case of your home this is certainly true: 80% of selling your home comes from one factor alone:
Price.
No matter how much time, effort and finances you invest in your home (the 20%), if it’s not priced correctly (the 80%) it won’t sell. In this enlightened Internet age, savvy buyers are attuned to a home’s true market value like never before. As Realtors put increasing amounts of information and pictures on the web, buyers are visiting “virtual open houses” and making effective buying decisions without viewing a home in person.
Buyers may love a specific home, but if they perceive that the price is too high, they typically assume the seller is over-optimistic and will not come down to a reasonable price.
As a result, they will usually not even darken your door.
It’s the harsh reality of the current market. If priced too high, your home becomes “invisible” to buyers. And it does so from the very start. Buyers will go on to look at other homes instead of yours.
So how do you price your home to sell?
1. Have your Realtor prepare a REALISTIC CMA. (Comparative Market Analysis) Look at EVERYTHING on the market in your area, not just "the chosen few" that you want to see.
2. Run the trends from your area. Usually your local MLS will provide your Realtor with extensive data.
3. Price AHEAD of the market. In a decreasing market, it must be priced BELOW the previous comparable sale or active listing.
Need to sell your home, but won’t get enough to pay off the loans? Then be honest with yourself and get a short sale specialist to help. Although aggressively setting the price is the highest obstacle sellers encounter when selling their home, in the end it is the one action that will reap the highest possible dividend:
A SALE!
Subscribe to:
Comments (Atom)
