2009 FIRST-TIME HOME BUYER TAX CREDIT BASICS.

2009 First-Time Home buyer Tax Credit

H.R. 1, the “American Recovery and Reinvestment Act of 2009,” passed the House on February 13, 2009, by a vote of 246 – 184. Later that day, the Senate also passed the bill by a vote of 60 – 38. The President signed the bill on February 17, 2009. The bill is a $780 billion package, with roughly 35% of the package devoted to tax cuts (mostly for 2009) and the rest to spending intended to occur in 2009 and 2010.   View how the U.S. House of Representatives voted>
View how the U.S. Senate voted>

The tax credit is for first-time home buyers only. (A buyer who has not owned a principal residence during the three-year period prior to the purchase.)  That means if you’ve owned a vacation home (but not a principal residence) within the past three years, you would still qualify for the credit.

The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.

The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.

Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

Home buyers need to own the home for at least 3 years to fully capitalize on the credit.  If they sell the home before then, they will have to return the credit to the government.  (Some exceptions may apply.)

Home prices are great!  What an excellent time to buy a Home!

South Ogden Utah, Home. 1094 E. 5700 S.

South Ogden Home 1094 E. 5700 S.

The best deal on a South Ogden, Utah Home! Perfect location right by the Ogden Athletic Club.  Over 4000 square feet, 6 bedrooms, 3.5 Baths, Main floor master bedroom, 3 Car garage, & fully finished basement.  Great views of the Wasatch mountains.  Home is offered at $360,000!  That’s $89.00 a sq.ft!!!

South Ogden is a great area with a ton of stuff to do.  The Ogden Athletic Club is down the street from this home.  Minutes away from Snowbasin a world class ski resort! Hiking and biking trails, Newgate mall, movies at The Junction, Fat Cats family fun center, great restaurants.  These are just a few more things that are minutes away.

Contact Marty Reynolds for any of your Real Estate needs! 

801-725-8282 or marty@iamutahrealestate.com

http://www.spotlighthometours.com/tours/tour.cfm?mls=798476

5005 S. 1100 E. South Ogden, Utah 84403

 

South Ogden Real Estate 5005 S 1100 E

Incredible Multi-level home in South Ogden, Utah, has everything a home buyer will need.  4 Bedrooms, 1 & 3/4 bathrooms, over 2,000 square feet.  This home is in immaculate condition!  Custom paint, granite counter-tops throughout,  hardwood floors, new carpet, play room for the kids, den, custom built in entertainment center.  This home is a perfect “10″ a great buy, offered at $227,900!  Fully landscaped & fully fenced yard situated on a corner lot with the home facing east.  New central air, new water heater, and new garage door. 

The South Ogden home is located in the Weber County school district and the following school boundaries…. Marlon Hills Elementary, South Ogden Junior High, and Bonneville High School. 

Minutes away from a ton of amenities, Newgate Mall, movies at The Junction, Fat Cats family fun center, Snowbasin ski resort, hiking and biking trails, Weber State University, these are just a few. 

Contact Marty Reynolds for more information!  801-725-8282 or marty@iamutahrealestate.com   Check out the pictures http://www.spotlighthometours.com/tours/tour.cfm?mls=858426

Will It Sell? Washington Terrace Home to be built.

This is the first installment of Will It Sell?  It is my goal to look at Homes, Multi-family properties, and other development possibilities.  To see if they will sell.  The first property is a new home to be built in Washington Terrace, Utah.  My Clients are looking to build a 2600 sq. ft. Rambler on a 0.15 acre parcel.  Home Details are this:

Rambler: 1300 Sq.Ft. with 3 Bedrooms, 2.5 Baths, 2 car garage.  The Basement will be unfinished with 1300 Sq.Ft. 2600 Total Sq. Ft.  Surrounding homes in the heighborhood were built in the late 1940’s to late 1950’s.  Washington Terrace Homes average sales price is $145,000.  There is a small subdivision close to the subject property, these homes are Patio/Ranch style homes Selling in the Mid-$250,000 range.  They are approx. 1800-2000 Sq.Ft.

My question is… What should they build?  Rambler or Patio home?  And what do you think the Washington Terrace home will sell for? 

Riverdale, Utah, 1st Quarter 2008 Real Estate Statistics..

A perfect city to Live and own Real Estate .  Riverdale homes are affordable, property taxes are low, and the location is unbeatable.  My family and I live in Riverdale and love it.  We are close to everything.  Riverdale city is the envy of neighboring cities due to the tax revenue of it’s commerce.  If you want to eat at good restaraunt’s Riverdale is the place to come.  Chilis’s, Applebee’s, Ruby River, Olive Garden, TGI Fridays, are a few of the places to eat, along with plenty of fast food places.  If you feel like shopping take your pick, JC Penney, Target, Wal Mart, Justice for girls, Canyon Sports, R.C. Willey’s, what can’t find anything then try the Newgate Mall.  If you need to buy a car or truck, Riverdale Road has plenty of Dealerships to choose from…  Oh….. you don’t want a car?  Then try Harley Davidson of Northern Utah or Carey’s cycle, or go buy a boat at Petersen Marine.  Need to fix up your house?  You have The Home Depot and Lowes on Riverdale Road.  Whatever you need you can find in Riverdale.  You like the outdoor’s.  There are 3 parks, the Weber River Pathway, and the Kayak park at Weber River.  I don’t know any other city I would rather live.

Riverdale, Utah Real Estate, 1st Quarter 2008 Statistics

14 Riverdale Homes Sold

Median Price: $245,000

Average Price: $235,000

Low: $131,750

High: $309,500

Average Time on Market: 77 Days

Current Homes on the market: 62.  39 of these homes are new Construction,  In the Combe Farms subdivision.

No Multi-family properties are currently on the market.   No Multi-family properties sold

-Basic Riverdale City Demographics-

Riverdale City Population

 Population: 8,264

Land Area: 4.6 Square Miles

Population Growth Rate: 1.3% (Annualized last 5 years)

Riverdale City Income

Median Income: $47,594

State Income Ranking: 50th Percentile

National Income Ranking: 64th Percentile

Average Income Households with Children: $56,734

State Income Ranking: 50th Percentile

National Income Ranking: 56th Percentile 

Average Age for Riverdale City: 29.2 Years

Household Characteristics for Riverdale City

58.9% Married

39.9% With Children

 The accuracy of all information is deemed reliable, but is not guaranteed.

Washington Terrace, Utah, 1st Quarter 2008 Real Estate Statistics.

Here we go….  My first blog,  I chose to write about Washington Terrace, Utah.  One of the best Cities to buy Real Estate.  (My opinion)  I also was raised there.  I enjoy selling and marketing Real Estate in Washington Terrace, Utah.  

Let’s look at the 1^st quarter 2008 Real Estate Stats. 

 23 Homes Sold

Average time on the market: 48 days

Average Price: $144,900

Median Price: $134,800

Low: $103,000

High: $330,000

There are currently 33 Single family homes on the market. (April 3, 2008)

1 Multi-family (Duplex) Sold for $220,000.

There are currently 2 Multi-family properties on the market. (April 3, 2008) 

In my 6 years of Real Estate experience and dealing in Washington Terrace, the market has seen some good steady appreciation, around 10% per year.  The 1^st quarter 2008 has seen a little slow down but demand is relatively strong.  One reason for strong demand is the city is close to good Commerce, Shopping, Restaurants, Retail, Schools, Transportation, and Employment.

Washington Terrace is a great place for investors to own rental property.  The Properties I own there have virtually no vacancies, and rent is good and rising. 

-Some basic demographics- 

Population for Washington Terrace City

Population = 9,139

Land Area = 1.9 Square Miles

Growth Rate: 1.3%

State Growth Ranking: 56th Percentile

National Growth Ranking: 77th Percentile

Annualized (Last 5 Years)

Income for Washington Terrace City

Median Income:  $45,300

State Income Ranking:  45th Percentile

National Income Ranking:  59th Percentile

Average Income

Households with Children: $52,730

State Income Ranking: 40th Percentile

National Income Ranking: 49th Percentile  

The accuracy of all information is deemed reliable, but is not guaranteed

This has been my first blog post. If you have any feedback I would greatly appreciate it.   What did you like?  Was it easy to read?  What area’s can I improve? 

Thanks,

 Marty Reynolds

www.Iamutahrealestate.com