Home Prices Rise for 6th Straight Month

According to the Denver Post, home prices rose for the 6th straight month in November.

The list of cities with price increases, on a seasonally adjusted basis, also included Los Angeles, San Diego, Denver, Boston and Charlotte, N.C.

The price increases will help home owners that owe more than they currently owe on their mortgage.

The tax credit for home buyers was extended through April 2010 and should encourage those that have been thinking about buying a house this year. Many real estate agents are looking forward to a busy spring house hunting season for home buyers.

Read more:http://www.denverpost.com/dprealestate/ci_14269999#ixzz0e1kcUOUH

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Home Buyer Tax Credit

The home buyer tax credit works for ten percent of the purchase price of a buyer's primary residence (up to $8k for first-time buyers and $6.5k for repeat purchasers). A first time home buyer is someone who has not owned a home in the prior three years. Repeat buyers have to own their home for at least five years. This credit does not apply for a house costing more than $800k.

In order to take advantage of this credit, a home buyer must sign agreements by April 30, 2010 and must close by June 30th.

The income limit for this tax credit is $125k for a single filer, and $225k for a joint tax filer. There is a reduced tax credit for a single filer $145k and a joint filer $245k.

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Tax Credit Is Encouraging Spring House Hunters

Tax Credit for Home Buyers Explained below:

Tax credit: 10% of the purchase price of a primary residence, up to a maximum of $8,000 for first-time homebuyers and $6,500 for repeat buyers. First-time homebuyers are defined as people who have not owned a home in the previous three years. Repeat buyers must have owned their current home at least five years. The credit cannot be used for houses costing more than $800,000. Deadline for qualifying: Purchase agreements must be signed by April 30, 2010, and closings must be final by June 30. Military deadline: The deadline is extended by a year for members of the military who have served outside the U.S. for at least 90 days from Jan. 1, 2009, to May 1, 2010. Income limits: Individuals with annual incomes up to $125,000 and joint filers with incomes up to $225,000 qualify for the full credit. Individuals with incomes up to $145,000 and joint filers with incomes up to $245,000 qualify for reduced credits. How to apply: Taxpayers can claim the credit on their federal income tax returns. If the credit exceeds their tax bill, the government will issue a payment. Taxpayers who want immediate refunds can amend their tax returns for 2008 to claim the credit. Visit our website today @ http://www.real-estate-denver-colorado.com/

January Statistics Indicates More Home Sellers Using Their Original List Price

Parker & Castle Rock ranked #4 & #5 best place to live in 2009 by Forbes

http://www.forbes.com/2009/07/07/relocate-relocation-cities-lifestyle-real-estate-affordable-moving.html

Forbes named Parker the #4 place to live in the United States and Castle Rock #5.

No. 4: Parker, Colorado

Population: 36,975

Big city: Denver, 20 miles northwest.

Major airport: Denver, 30 miles north

Global employers nearby: Lockheed Martin, Agilent, Boeing, First Data, DirecTV, Nissan Motor

White: 90.5%, Black: 3%, Asian: 2.5%, Hispanic: 6%

Adults with bachelor's degree or higher: 44%

Born in different state or abroad: 60%

Came from out of state within five years, 2000 Census: 31%

Median family income: $89,154

Median home value: $275,300

No. 5: Castle Rock, Colorado

Population: 37,422

Big city: Denver, 33 miles north.

Major airport: Denver, 50 miles north

Global employers nearby: Multinational companies 25 miles north near Denver and 40 miles south in Colorado Springs.

White: 91%, Black: 1%, Asian: 2%, Hispanic: 9.5%

Adults with bachelor's degree or higher: 43%

Born in different state or abroad: 59%

Came from out of state within five years, 2000 Census: 28%

Median family income: $89,154.

Median home value: $275,300

Visit our website today @ http://www.real-estate-denver-colorado.com/