As the tax and home-buying season kicks into gear, now is a good time to take stock of the tax benefits that come from home ownership. The granddaddy of home-related income tax write-offs  – number one on our list – is the mortgage interest deduction (MID). Created in 1913,... Read more
What if you could go to work in your pajamas and get a tax break? One of the growing trends in business right now is telecommuting. Estimates vary regarding the number of people who work from home – either for themselves or for a company – but many put... Read more
With stores already stocking their shelves with holiday supplies, it’s not too early to be reminded that tax season is also just around the corner. Buying a home or being a homeowner means you can benefit from a number of ongoing and temporary tax deductions. Before you get caught... Read more
We are in the thick of a buyer’s market right now. With so many homes hitting the housing market, it’s hard to compete with their home prices. Home owners everywhere are lowering their asking price just so they can get their house sold before it gets worse. Selling Your... Read more
If you’ve been watching the housing market, you know that this is a good time to buy. Low Mortgage Rates Mortgage rates are at an all time low and experts report that they will rise over the next several months. While you don’t have to jump on the first... Read more

Recent debates in real estate have turned to the question of whether it is better to take advantage of the home buyer tax credit or wait for another potential drop in prices that some experts are predicting might come when the credit expires in a few months.

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Last week mortgage rates for a 30 year fixed loan dropped below the 5 percent mark, and shorter term adjustable rate mortgages remain in the mid-4 percent range. Combined with the availability of the federal home buyer tax credit home affordability is at an all-time high.

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This morning, Treasury Secretary Tim Geithner discussed highlights of the administration’s proposed 2011 budget along with key legislation initiatives President Obama is likely to announce later today and throughout 2010. Proposals included $30 billion in TARP funds to stimulate lending from community banks to small businesses and individuals, $17.5 billion to increase SBA guarantees and increase the maximum SBA loan amounts.

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To take advantage of the home buyer tax credit a buyer must be in contract to purchase a home by April 30, 2010 and the transaction must settle by June 30, 2010.

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