Happy Holidays!

Wishing you a very Happy Holiday season filled with gratitude, love, compassion, family and safe travels.

From our family to yours!!!

Restaurants OPEN on Christmas Eve and Christmas Day in Atlanta

Are you ready to do something a bit different this year? Check out the following list of restaurants that will be open on Christmas Eve and Day:

Open%20Christmas%20Eve%20%26%20Day%202009.pdf

Happy Holidays from your friends at Christan Ross & Associates!

Ready to Move Up or Downsize? Current homeowners along with first time buyers can take advantage of the Federal Home Buyer Tax Credit

The Homebuyer’s tax credit is not just for first time homebuyers anymore.

Congress has extended and expanded the Homebuyer's tax credit. A key change is that the existing homeowners are now eligible for up to a $6,500.00 tax credit. Another key change is the income limits have been increased, but a price cap will apply. The changes will go into effect as soon as the bill is signed by President Obama. A quick reference of the changes are below.

	2009 Rule	New Rule
First-time Buyer Credit	Up to $8,000.00	Up to $8,000.00
First-time Buyer Eligibility	Purchaser cannot have had an interest in a property for 3 years prior to purchase	No change
Current Homeowner Credit	None	$6,500.00
Current Homeowner Eligibility	None	Must have lived in the property being sold for 5 of the last 8 years
Termination of Credit	November 30, 2009	Binding contract prior to April 30, 2010, closed by July 1, 2010
Income Limits	$75,000.00 – single (phase out up to $95,000.00) $150,000 – married (phase out up to $170,000.00)	$125,000 – single (phase out up to $145,000.00) $225,000 – married (phase out up to $245,000.00)
Purchase Price Limitations	None	$800,000.00
Anti-fraud Rule	None	Documentation of purchase must be attached to tax return

3040 Peachtree Road, Unit 814, Atlanta, GA | Powered by Postlets

3040 Peachtree Road, Unit 814, Atlanta, GA | Powered by Postlets

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3040 Peachtree Road, Unit 814, Atlanta, GA | Powered by Postlets

3040 Peachtree Road, Unit 814, Atlanta, GA | Powered by Postlets

Shared via AddThis

Federal First Time Home Buyer Tax Credit

First Time Home Buyers hoping to take advantage of the $8,000 tax credit will need to purchase their home prior to December 1, 2009. Meaning....if you haven't started looking, you need to start, NOW. Well priced properties and foreclosures are moving at lightening speed and in a lot of cases are in multiple offer situations.

The tax credit is available on primary residences, including single family homes, condos and townhomes. The credit is equal to 10% of the purchase price, up to $8,000 for individual taxpayers with an income up to $75,000 ($150,000 for married couples filing jointly). The credit begins to phase out for individual taxpayers with an income over $75,000 up to $95,000; joint filers' tax credit will phase out at $150,000 up to $170,000.

To qualify as a "first time home buyer" the purchaser nor his/her spouse can have owned a home in the three years prior to the purchase of a qualifying residence. The credit is given on the purchaser tax return by filing Form 5405.

Ready to get qualified? Contact me today to get in touch with a lender.

Christan Ross, Atlanta's Real Estate Maven

Welcome to my new blog. Please check back often as I will be posting regular updates.

Sincerely,
Christan Ross