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Beaverton First Time Home Buyers can realize a $8,000 tax credit if they buy before December 1, 2009

 

One of the things I tell first time home buyers looking to buy a home in the Beaverton, Oregon, area in 2009, is that if you are still sitting on the fence about buying, then get off that fence because now is the time to buy! One of the biggest reasons is the government is just going to give you money… a sort of reward for having good enough credit and income to be able to purchase that first home.

I still get a lot of, “Todd, I’m thinking of buying my first home and I need some advice, can you help me?” I always will say, “YES!” and then I will sit down with you go over the complete process and get you on our way to home ownership.

Now, I say $8,000, but it could be less. The stimulus package states that any first time home buyer, or person who hasn’t owned in the past three years, can qualify for a tax credit of $8,000 or 10% which ever is less. (I don’t know of too many places in Beaverton, Oregon, that are less than $80,000, there are a few, but very few.)

There are a few other stipulations like you can’t make over $75,000 as a single person or $150,000 as a married couple. But, the good news is even if you don’t owe any more to the government at the end of the year, you will just get a check for $8,000 as a reward for purchasing your first home.


***WritersSide Note***
I don’t agree with this. As it is, they are just throwing money at people that already qualify for a loan and are already going to be getting tax deductions from the mortgage interest they are paying. I have a better way to save the housing industry …Read the full idea here.

But if you are a first time home buyer, it is available. By all means, take it and buy your home today before they do away with it.

Respect Realty LLC (Expect More)

 

At Respect Realty, LLC our agents believe in 100% dedication to client satisfaction.  We specialize in property and land acquisition around the Portland Metro and Vancouver, WA area. We delight in working with first time home buyers and sellers to guide them from start to finish. Our doors are always open and we are always happy to assist you with your real estate questions.

 

Reach out today, we look forward to talking with you!

 

Todd Clark and Seraina Aguayo (Owners of Respect Realty)

Respect Realty LLC (Expect More)

(503)564-3130

info@RespectRealtyNW.com

www.RespectRealtyNW.com

 

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Comment balloon 17 commentsRespect Realty LLC • April 05 2009 01:05AM

Comments

Todd,

 

You're idea is excellent. If we could keep current homeowners who are having hardship stay in their homes, that would be better for everyone.

Posted by Vanna Siackhasone, Anchorage Real Estate 907-720-4663 (Real Estate Brokers of Alaska 907-720-4663) over 11 years ago

Todd,  How do you get so many people commenting on your blog?

Posted by Vanna Siackhasone, Anchorage Real Estate 907-720-4663 (Real Estate Brokers of Alaska 907-720-4663) over 11 years ago

Todd - the change on the tax credit from last year has definitely stired some interest in a lot of first time buyers around here. I agree with you on the other post about the money could be spent on some other ways.

Posted by Venancio Gonzalez, Longview WA Real Estate Broker - 360-751-4001 (Windermere Kelso/Longview) over 11 years ago

Hi Todd - I did go to your outside blog to read your idea.  I agree in part that we need to be helping people keep their homes by reducing the number of short sales and foreclosures.  But, I do think that the $8,000 tax credit has drawn some new people into the market. 

Posted by Marlene Bridges, Laguna Homes|Laguna Condos|Laguna Real Estate (Village Real Estate Services, Inc.) over 11 years ago

I think this was designed to give those sitting on the fence, for whatever the reason, a nudge.  There will still be some that won't be able to qualify for a home loan anyway due to the new and ever changing qualifications.  My thought is use it or loose it.

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) over 11 years ago

Hi Todd,

Like you, I don't agree with the manner in which this is being 'given' away but, I encourage all of my qualifying clients to take advantage of it while it lasts!  We sort of HAVE to--if we don't they'll be upset with us for NOT letting them know--and, like you said, even though they qualify already!

Hey, I wish Uncle Sam would through some dough my way--aren't we involved in the trickle down business any more?!  LOL


Debe in Charlotte

Posted by Debe Maxwell, CRS, The right Charlotte REALTOR! (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) over 11 years ago

TC,

Regarding writers side note: They'll never go for your plan...it makes too much centssense...!!! :) Thanks,   Fran

Posted by Fran Gaspari, "The Title Man" - Title Insurance - PA & NJ (Patriot Land Transfer, Inc.) over 11 years ago

Hi Todd...You are Soooo correct when you say you better buy a home now, before the Government takes away the $8,000 Gift. And They Will!

Cheers, thanks for sharing this point with us.

Posted by Fred Carver Personal Real Estate Corporation, Accredited Real Estate Consultant (RE/MAX Camosun Victoria BC Real Estate) over 11 years ago

Todd -- I have been working on a blog about the $8,000 tax cut, but don't know if I should post it now --- I don't want it to look like I was just copying you.  BTW, a great post.

Mama Liz's Signature

Posted by Liz Loadholt, Realtor--Broker-in-charge - Trainer--Relocation Director Covering SC (Liz Loadholt- AgentOwned Realty- Covering SC) over 11 years ago

Todd, I read your post and your link. Great ideas!! Now, why couldn't the government come up with some good ideas? ;-)

Posted by Mesa, Arizona Real Estate Mesa Arizona Realtor, AzLadyInRed (Homes Arizona Real Estate LLC) over 11 years ago

Vanna - Well, technically not for us agents, because we would have less to sell, but it would be better for the economy as a whole. 

Also, I hope my e-mail was a little help to you and happy blogging!

Venancio - I don't think the government should spend any money and let the free market dictate what is going to happen, but the government can't think that way and so they basically have to fix the mess they got us in, in the first place.

Posted by Respect Realty LLC, Brokers - Oregon / SW Washington Real Estate (Respect Realty LLC) over 11 years ago

Marlene - Maybe we can have the best of both worlds and do a little of both. $4,000 tax credit and a little mortgage relief act of some sort. I would prefer the government stay out of it all together, but we all know that isn't going to happen.

Don - Use or lose it exactly it, but I have a better way of nudging them, it is called a good shoulder to the chest.... Haven't you watch America's funniest home videos?

Posted by Respect Realty LLC, Brokers - Oregon / SW Washington Real Estate (Respect Realty LLC) over 11 years ago

Debe - I think they said the average agent last year made $30,000 isn't that below the poverty line in most states? Throw me a check and I promise to use it to buy an American car my president!

Fran - What makes you think that? (ROFL)

Posted by Respect Realty LLC, Brokers - Oregon / SW Washington Real Estate (Respect Realty LLC) over 11 years ago

Fred - Here is the reason why a buyer better act today on buying a home or it may be too late!

Buyers you don't have much time to act as this deal does end December 1st and if you take all the time lines in a real estate transaction you could be throwing away $8,000 in free money.

HOW:

1st - 90 days to fix any possible credit reporting errors (June 1st)
2nd - Short Sales (90-120 days to get accepted) (October 1st)
30-45 days for inspections and finally closing (November 15th)

Doesn't give you much time if you are looking for a great deal, so call today before you lose out on $8,000 free money just for doing something that you have been thinking about doing anyway.

Posted by Respect Realty LLC, Brokers - Oregon / SW Washington Real Estate (Respect Realty LLC) over 11 years ago

Mama Liz - I would never think you were copying me, but I did send you an e-mail for with a better idea for that post.

Teri - Because they are more worried about how to put their pork products in the ideas that do show up on their desk rather than actually fixing the problem.

Posted by Respect Realty LLC, Brokers - Oregon / SW Washington Real Estate (Respect Realty LLC) over 11 years ago

Todd, LOL, isn't that the truth!  Me too...I'm ready for a new car too!


Debe in Charlotte

Posted by Debe Maxwell, CRS, The right Charlotte REALTOR! (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) over 11 years ago

Debe - I checked my mailbox again today and no check or keys to a new car, what is up with that? Maybe tomorrow!

Posted by Respect Realty LLC, Brokers - Oregon / SW Washington Real Estate (Respect Realty LLC) over 11 years ago

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