Now is the perfect time to buy a new home. If you are a first time home buyer, WAIT no longer. This may very well be the best time in history to take the plunge.
Whats on your side Now...
*Affordability is better than ever*Plenty of Homes to chose*Sellers are more willing to bargin*Historically low interest rates*$8,000 first time homebuyers tax credit*
What is the Tax Credit?
It is a credit for up to 10% of the cost your new home or a maximum of $8,000. Any home purchasesd for $80,000 or more qualifies for the credit.
Who qualifies for the credit?
Only first time homebuyers. You're considered a first time homebuyer if you have not owned a home for 3 of the last five years.
Are there income restrictions?
Yes, individuals are eligible for the credit if their income is no more than $75,000. For married couples the limit is $150,000.
What if I make more?
You could still get a portion. Individuals who earn up to $95,000 and couple that earn up to $170,000 can still get a tax credit, based on a sliding scale.
Are there financing restrictions?
Most financing arrangements are acceptable.
Do I have to repay the credit?
No, unlike the 2008 credit, there is no repayment requirements.
How do I apply?
There is no pre-purchase authorization. You simply claim the credit on your 08 or 09 tax return, on the IRS form 5405. If you buy a home before April 15,2009, you claim the credit on your 2008 taxes. If you purchase after that, claim it on your 2009 return.
What is the deadline?
You must buy and close on your home before December 1, 2009 to be eligible. Feel free to contact me for more details and explainations on how you should start your search for you new home today!
Buckhead Newest Destination "The Streets of Buckhead" What was once the dream and future vision of Buckhead from the mind of master developer Ben Carter is now underway. The Multi million dollar renovation to the Buckhead Village has offically began the construction phase and has ushered in a new Buckhead.
The Streets of Buckhead, will consist of office, retail, residential, and restaurant space over seven city blocks on 8 acres, and is ecpected to also feature the first 1 Hotel & Residences, a brand of Starwood Capital Group. The eco-friendly hotel components, is expected to begin construction in mid-2008 with open in 2010. It will feature 100 residential condominium units on top. Balfour Beatty Construction also plans to build two more luxury hotels within the massive project.
Carter added that his vision to change Buckhead into a chic shopping enviroment includes some top names in transforming the area to rival that of New Yorks SoHo district or L.A's Redeo Drive. French luxury retailer Hermes was the first to become involved, planning a 4,000 sq foot location. And other names including AG Adriano Goldschmied, Domenico Vacca, Etro, and Bottega Veneta are planning to open doors as well. This is expected to bring real destination shopping to Atlanta.
French bistro La Goulue and Bottega del Vino are just two of the high profile resturants signed to join the project.
Atlanta's Midtown Mile is being seen as the South's answer to Chicago's popular Magnificent Mile, It will be a sprawling boulevard of high-end restaurants, hotels, retailers and museums. At the center to that vision is 12th & Midtown's 2.5 million square foot plaza featuring more than 1.2 million feet of office space, 150,000 sq. feet of retail space, and more than 500 hotel rooms. It is expected to boast more than 600 residences, with pedestrian-friendly streetscape and magnificent views of Piedmont Park and the Atlanta skyline.
1010 Midtown is in the first phase and will boast 443 residences and up to 50,000 sq. feet of flagship retail and dining space, The first phase of this is scheduled for completion in the fall 2008. A second phase, located at 1075 Peachtree, is scheduled to begin next spring, and wll feature 725,000 sq. feet of office tower and 60,000 feet of retail space, within a 400-room luxury hotel also to feature 100 residences. Phase three, is located at 1125 Peachtree, and is to feature 40,000 sq. feet of flagship retail and a boutique five-star hotel. For more information on 1010 Midtown, visit www.1010midtown.com.
Also in the news are Street Cars for the future purpose of linking Midtown to Buckhead. Studies are underway and gainning strength to add a light rail train system to assist in easing traffic and helping Atlanta Go Green. Visit www.atlantastreetcar.org to learn more. Watch the Video
