Jeffrey Tung's Real Estate Blog » tax credit http://jefftung.net Realty World - Success Plans, Inc. Serving you since 1986 Mon, 30 Apr 2012 22:27:48 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Preserve Mortgage Interest Deduction http://jefftung.net/2011/04/02/preserve-mortgage-interest-deduction/ http://jefftung.net/2011/04/02/preserve-mortgage-interest-deduction/#comments Sun, 03 Apr 2011 00:03:55 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=479 There are about 78,000 homes that are either vacant and for sale, or under construction.  This is an improvement and with a normal level of buying, the homes would sell in 2 1/2 months.  The study shows that there is a housing shortage brewing.  If this happens, then it would change the market to a seller’s market and buyers will have a hard time purchasing again.  The market today is still considered a buyer’s market and there are more bargain hunters out looking for deals.  More investors are also very active making all cash purchases.  There are 6 cities that are considered to be cheaper  then renting the same house.   All this may be  history if unemployment rises, which it is decreasing today, interest rates continue to rise and become non deductible.

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]]> http://jefftung.net/2011/04/02/preserve-mortgage-interest-deduction/feed/ 0 Tax benefits for homeowners http://jefftung.net/2011/03/18/tax-benefits-for-homeowners/ http://jefftung.net/2011/03/18/tax-benefits-for-homeowners/#comments Sat, 19 Mar 2011 02:31:33 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=463 Home prices declined 3.8% in February compared to last year, however they are up 4.2% from two years ago.  Could this be a sign of our recovery or maybe the double dip is about to happen?   It’s hard to say but it is a great time to purchase a property.  Interest rates are still at all time lows, prices have gone down, there are a lot of properties to choose from, and you still  have some  tax benefits.  When you’re ready, there are a lot of things to consider. 

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]]> http://jefftung.net/2011/03/18/tax-benefits-for-homeowners/feed/ 0 Tax credit has been extended http://jefftung.net/2010/07/01/tax-credit-has-been-extended/ http://jefftung.net/2010/07/01/tax-credit-has-been-extended/#comments Thu, 01 Jul 2010 22:57:11 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=228 Great news!! Congress has finally approved a extension for those of you who have been in escrow since April 30th.

]]> http://jefftung.net/2010/07/01/tax-credit-has-been-extended/feed/ 0 Things to consider when buying a home http://jefftung.net/2010/06/28/things-to-consider-when-buying-a-home/ http://jefftung.net/2010/06/28/things-to-consider-when-buying-a-home/#comments Mon, 28 Jun 2010 21:21:57 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=218 You’re renting now and your lease is about to expire, do you want to stay for another year or do you think you might want to take advantage of the best buying opportunity since 1968? Well before you make a decision to purchase, there are a few things to consider before you start shopping. Once you understand what’s involved, you will feel better about making a decision to pursue the “Great American Dream of Home-ownership”.

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]]> http://jefftung.net/2010/06/28/things-to-consider-when-buying-a-home/feed/ 0 10 reasons to buy now http://jefftung.net/2010/06/25/10-reasons-to-buy-now/ http://jefftung.net/2010/06/25/10-reasons-to-buy-now/#comments Sat, 26 Jun 2010 03:33:56 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=214 Even though the federal  tax credit may not make a come back, there are lots of reasons why it is still a great time to purchase a property. 

One of the most important factor that affects most buyers is interest rates.  As the rate gets higher, the amount of money a person can qualify for would be less. Interest rates have been really low historically speaking and with the problems we are facing today, the rates will go back up.  I don’t think interest rates will ever be lower then what they are today.  30 years ago, I thought I would never see rates as low as they are today.  We could see rates as high as 18%, just like it was in 1981, or even more.

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]]> http://jefftung.net/2010/06/25/10-reasons-to-buy-now/feed/ 1 Health Care Bill May Cause Problems For Businesses! http://jefftung.net/2010/06/25/health-care-bill-may-cause-problems-for-businesses/ http://jefftung.net/2010/06/25/health-care-bill-may-cause-problems-for-businesses/#comments Fri, 25 Jun 2010 23:18:50 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=182 With the passing of the health care bill, there may be some unforeseen problems brewing. It would be a good idea to try and think of ways to make sure you’re going to be financially stable when 2014 comes around. If the budget for the program is more then projected, it will likely lead to higher interest rates. peninsula

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]]> http://jefftung.net/2010/06/25/health-care-bill-may-cause-problems-for-businesses/feed/ 0 Possible extention for Federal Tax Credit http://jefftung.net/2010/06/18/possible-extention-for-federal-tax-credit/ http://jefftung.net/2010/06/18/possible-extention-for-federal-tax-credit/#comments Fri, 18 Jun 2010 20:58:11 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=175 Are you going to make the June 30th deadline? Hopefully you will since it’s been a stressful process. If you don’t make it, then let’s hope that Congress votes to extend the deadline 3 more months.  The Senate has approved the extension because of the enormous back log of sales and now it time for Congress to consider the extension.

According to Vicki Cox Golder, president of the National Association of Realtors, said the extension was a matter of fairness.

“These are not buyers who just entered into the market. These are buyers who previously met all the qualifications for the tax credit, but find themselves at the mercy of a work-flow jam with the lenders or other delays and might not be able to complete the purchase of their homes.”

I think it’s the right thing to do, especally since it’s not the buyer’s fault for not meeting the deadline.

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]]> http://jefftung.net/2010/06/18/possible-extention-for-federal-tax-credit/feed/ 4 Tax ideas for 2009 & 2010 http://jefftung.net/2010/03/04/tax-ideas-for-2009-2010-2/ http://jefftung.net/2010/03/04/tax-ideas-for-2009-2010-2/#comments Thu, 04 Mar 2010 21:51:59 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=106

Visit houselogic.com for more articles like this.

Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®

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]]> http://jefftung.net/2010/03/04/tax-ideas-for-2009-2010-2/feed/ 1 Foreclosure Avoidance Counseling http://jefftung.net/2010/02/22/foreclosure-avoidance-counseling/ http://jefftung.net/2010/02/22/foreclosure-avoidance-counseling/#comments Tue, 23 Feb 2010 05:29:11 +0000 Jeff Tung /?p=79 In efforts to help everybody who needs help, HUD has updated their list of counselors.  This will help you find answers to help you with your financial problems.  This is a free service and should be your step in trying to get help from your government.

If you need guidance or more information about your options, HUD may have answers for your situation.

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]]> http://jefftung.net/2010/02/22/foreclosure-avoidance-counseling/feed/ 0 Thanksgiving time http://jefftung.net/2009/11/10/thanksgiving-time/ http://jefftung.net/2009/11/10/thanksgiving-time/#comments Tue, 10 Nov 2009 00:38:23 +0000 Jeff Tung /?p=41 Where did the year go!!!! The holidays are just around the corner and it’s time to look back and think about next year. This year has been better then last year in terms of the market. Property values have gone down so low that it has spurred a lot of buyers to purchase instead of renting. Some areas have decreased in price to what it use to be 10 years ago. The market seems to be stabilizing and the government is trying a bunch of stuff to help.  

The home buyers tax credit has been extended to April of 2010 and it has expanded the credit to existing owners too.
 
There is a HUD credit counseling website,  that is designed to help people that are having a hard time with their payments.
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