Thursday, July 29th | The Monopoly Report
23:04

Functional Obsolescence

Functional obsolescence is a term when used in real estate to indicate a feature of a home that is not longer useful or desirable today.
Homes with 3 bedrooms and only one bath were popular in the 50s and 60s, but now are functionally obsolete; buyers want two bathrooms. Homes with detached, 1 or 1.5 [...]
22:13

Short Sale Defined:

In real estate, a short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor.

21:30

TMR Live 92 | The Foreclosure Phantom and Rust is the New Green

Carl Keating and in studio guest Sherry Denton of Keller Williams Realty discuss the possibility of a rumored 600,000 phantom foreclosure property more than doubling the current US REO levels. We then move our focus to the mid-west and take a look at the “Green” initiatives underway as part of the rust-belt’s urban recovery plans.

 
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First Time Home Buyer Tax Credit At A Glance

Published on Sat, 11/04/09 | First Time Buyers, Mortgage & Finance
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Federal Housing Tax Credit At A

  • The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
  • The tax credit does not have to be repaid.
  • 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.

Click here to watch Tax Credit FAQ video.

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