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U.S. News lists Santa Fe as one of the Top 10 Housing Markets for the Next 10 Years.
Using data from Moody’s Economy.com U.S. News compiled the list.
View the full story
The Santa Fe Association of REALTORS® Welcomes the 2009 Homebuyer Tax Credit
The homebuyer tax credit is one of 10 key provisions of the American Recovery and Reinvestment Act signed by President Obama into law on February 17, 2009.
The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser’s income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser. Chart Highlighting the Major Modifications to the First-Time Homebuyer Tax Credit
More information on the 2009 Homebuyer Tax Credit
Obama Administration Announces Financial Incentives and Uniform Process For Short Sales
On May 14, 2009, the Obama Administration announced its Foreclosure Alternatives Program (FAP) providing incentives and uniform procedures for short sales and deeds-in-lieu of foreclosure under the Making Home Affordable Program. NAR had urged the Treasury Department, the Federal Housing Finance Agency, Fannie Mae, and Freddie Mac to take action to improve the short sales process, urging transparent and uniform procedures. Eligible borrowers are those who meet minimum requirements under the Home Affordable Modification Program but do not qualify for a modification or do not maintain payments under a modified loan. Under FAP, servicers, borrowers (homeowners losing their homes), and second lien holders may qualify for incentive payments. Other program features include standardized documentation, valuation based on either appraisals or broker price opinions (BPOs), timelines, and limits on commission reductions. The program terminates at the end of 2012.
FAP Fact Sheet
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_________________________
Countdown
to secure the First Time Homebuyer's tax credit
(availability ends at
12 a.m. Dec. 1)_________________________
Today's
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* IDX listings
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