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Archive for October, 2009
Homebuyer Credit Gets New Life
Key lawmakers in the Senate have tentatively agreed to extend the existing $8,000 tax credit for first-time home buyers and also offer a new $6,500 credit for existing homeowners who have lived in their current residence for a consecutive five-year period in the past eight years.
Home buyers must be under contract by April 30, 2010, and close before July 1. House Democrats have expressed concern about the cost of the tax credit for the government, and allegations of abuse have resulted in an IRS probe of the program.
Source: Wall Street Journal, Corey Boles and John D. McKinnon (10/29/09)
Number of Views :49Senators agree to extend homebuyer tax credit
Set to expire at end of November, plan will remain until end of April
WASHINGTON – Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers.
The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November.
Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years, said Regan Lachapelle, a spokeswoman for Senate Majority Leader Harry Reid, D-Nev.
The tax credits would be available to homebuyers who sign sales agreements by the end of April. They would have until the end of June to close on their new homes, said a congressional aide, who spoke on condition of anonymity because he was not authorized to publicly discuss the deal.
Senators were still negotiating the expansion of a separate tax credit that lets money-losing businesses get refunds for taxes paid in previous years, providing them with an immediate source of cash.
Senators in both political parties were hoping to add both tax provisions to a bill that would give people running out of unemployment insurance benefits up to 20 more weeks of federal aid. The Senate could vote on the overall bill as early as Thursday, but lawmakers were still haggling over several unrelated amendments Wednesday evening.
Source: Associated Press 10/28/09
Number of Views :47Real Estate Investment Tips
People may consider buying a property or piece of land and then making a profit from it by renting it out, using it as a time-share and sharing it with others or for other reasons. Whatever the case, there are certain things that need to be considered when making a real estate investment. Here are some real estate investment tips to help get you started. This way you can save time, money, worries, and get the most for your money in the long run and enjoy your future and your investment for a long time.
Ask a Syracuse real estate agent for advice
Real estate agents have plenty of experience with home buyers, sellers, and other business people buying and selling properties to make a profit and as an investment. They will be a great resource and be able to offer some advice as you go about making the best investment for you.
Think about your Goals
Consider your goals before making an investment. It is important to know and consider what you want to get out of your real estate investment. That way you can plan ahead as you pay mortgages and consider when you want to sell the property for a profit.
Pick a Good location
When making any investment, location plays a part, but when investing in real estate location is a big player. You want to pick a location that people are going to want to live in so you can make a profit. You can always make improvements but you cannot move a property.
Study the property well
If you find out all you can about the property, you will know whether it is a good or bad investment. Look into property records and pay close attention to details, they may cost you money or help you make money.
Learn Good negotiation skills
It is important that if you are going to invest in a property, you know how to negotiate well. Negotiating can help make you money or it can cost you money depending on how well a negotiator you are. Study tips from real estate agents and read all you can.
There is much to consider when investing in real estate. Making mistakes can cost you money, but avoiding those mistakes and investing wisely can help you to profit in a big way. These real estate investment tips will help you get started so you can enjoy your investment and your future profits.
Number of Views :111Tax Credit Extension Seems Likely
It seems likely that the U.S. Senate will approve a deal to extend the First-Time Homebuyer Tax Credit, but the devil is in the details.
Florida Democrat Sen. Bill Nelson told reporters traveling to Florida with President Obama on Monday that he thought that the extension would be approved, but both senators and representatives are among those who think that there should be some fiscal offset for the cost of the extension. Spending any more money on the stimulus effort also could stir up a hornets’ nest in some circles.
The proposal in the Senate that appears to have the most likelihood of passage would extend the $8,000 credit through March 31, then its value would drop by $2,000 for each of the subsequent three quarters of 2010. This plan was offered by Senate Majority Leader Harry Reid of Nevada and Senate Finance Committee Chairman Max Baucus, a Montana Democrat.
Source: Associated Press, Andrew Taylor (10/26/2009) and The Wall Street Journal, John D. McKinnon (10/27/2009)
Number of Views :72Do It Yourself Home Improvements to Avoid for Home Buyers
When you have finally bought the home that is right for you and your family, you may want to update it or remodel some and you may want to save money by doing it yourself. There is much to consider and think about when you are planning to make home improvements by yourself. If you are not careful you could end up costing yourself money instead of saving money. Here are some do it yourself tips to avoid to help save you time, money, and worries in the future.
Ask your Syracuse real estate agent for advice
As real estate agents, they have plenty of experience with people that want to update or improve a home. They may be able to offer advice or recommend someone that can. They are a great first resource.
Make sure to always check on codes and obtain a permit
Without getting your house up to code or obtaining a permit, you are violating the law. Also, if someone finds out that you did not get a permit, you could have to start over and this will cost even more money.
Always make a written plan for work
If you do not write out your plan for the work that you will be doing, you may underestimate the time it takes to complete a job. This will not only cost you more money, but will make some areas of the house hard or impossible to use.
Make a budget
Under budgeting for the improvements or repair work may cost you more money in the long run. It is important to know if you have enough money for the jobs you plan to do and also budget for unexpected.
Hire a professional if needed
Trying to handle a job that you are under qualified for can not only be costly, it can be unsafe and dangerous for everyone involved. If you really are not sure whether or not you can complete a job by yourself, it is always best to consult a professional.
These tips will help you to avoid mistakes and more problems when you go about improving, repairing, or remodeling your new home. This will save you time and money and also worries far into the future. This way you can work on getting your home just how you want it with peace of mind.
Number of Views :58Haunted Syracuse
Halloween is right around the corner. While those of you with younger children will be spending October 31st trick-or-treating, the rest of you have a great opportunity to check out some of the supposedly haunted locations in and around Syracuse.
The Landmark Theater
The Landmark Theater is considered by many to be one of the most haunted buildings in the Syracuse area. There are several ghosts thought to haunt the property, but the most well known is an actress named Clare, who was supposedly married to one of the stage technicians. One night, while rehearsing for a show, tragedy struck. The technician was electrocuted by some stray wires. In shock, Clare collapsed from the balcony (where she had been overseeing the work on stage) and fell to her death.
There have been multiple sightings of Clare, and her husband, since their deaths. Clare has been seen up along the balcony, sometimes as an eerie apparition and sometimes as a pale blue light. She has also been known to call out to other stagehands as they work on the sets of other plays. Her husband has been seen backstage and in other areas of the theater.
Thirteen Curves
Just outside the town of Marcellus , there is a one mile stretch of road populated with thirteen quick turns. According to local legend, a young couple was riding along these curves, but missed one turn and drove off into the trees. Neither survived the crash. As their vehicle crashed, they were separated, each thrown off in a different direction. They died alone. The young woman has been seen wandering along the curves late at night, looking for her lost lover. She is sometimes caught in the headlights or in a rearview mirror; briefly visible before she turns and disappears.
Split Rock Quarry in Solvay
Of the three haunted hot spots, this is probably the most tragic. The quarry was being used as a munitions plant, which required work with various explosives and other dangerous substances. On July 2, 1918, the plant caught fire and exploded, killing 50 workers instantly. Of the bodies pulled from the site, 15 were unidentifiable. They were put into a mass grave, and the plant was closed down.
All that remains of the work area now is a large rock and one last piece of equipment, called the Crusher. Although trespassing into the quarry is illegal, many have reported paranormal activity in and around the crusher. The sound of booted footsteps, falling rocks, and men calling back and forth to each other are the most commonly reported occurrences. Some say they have seen ghostly figures wandering near the crusher and in the tunnels leftover from the days the quarry was still in use.
Number of Views :71Fright Night at the New York State Fair and Halloween Safety
It is that time of year again when everyone dresses up in costumes, buys pumpkins and goes trick or treating. If you are look for something scarier to do or just something different why don’t you bring the family to Fright Night at the fair where there is much in store for everyone. Just make sure to travel together and be well prepared for whatever may happen. It will be a fun Halloween adventure you will not want to miss.
There is a little something for everyone at” Fright Night at the Fair”. There are five terrifyingly spooky attractions including: The Circus of Horror, the Insane Asylum, Frankenstein’s Mansion, The Crypt, and the Haunted hayride. These are scarier attractions and may require parental supervision for younger kids. There will always be plenty of food concessions and a hay bale maze and a miniature carnival for younger kids. The fright Night events are on the 23th, 24th, and 25th of October. It is located at the Beef Barn and is held from 7-11:30pm. A single attraction is only ten dollars, the hayride is fifteen dollars and all five attractions are twenty dollars (http://nysfair.calendarpublisher.com/events/detail/20091022/1/0/3/ALL/0/75).
This will be event you will not want to miss, no matter what age you may be. It is important though to remember a few important safety tips about Halloween and related events. These may include: not traveling alone and always staying in groups, not taking food or drink from anyone you do not know, and knowing who to contact in case of any problems. It is also important to know how much “frightening” events you or your family can handle. If your children are ten and above and do not scare easily, the fright night may be okay and fun for them. If events like this tend to scare you easily, you may be better off just going to the carnival and enjoying some good Halloween-themed food.
“Fright Night at the Fair” is an exciting event for everyone and there is something for everyone, but please remember to be safe and have fun this Halloween. Having fun and being safe is really what it is all about. So bring the family to “Fright Night at the Fair” and have some spooky scary fun you will never be able to forget!
Number of Views :310Graduated Payment Mortgages
If you are a first time buyer or just a buying that only has a certain amount of income right now, finding financing to help you purchase that new home may be a challenge. You do have options though and one of them is a graduated payment mortgage. This type of mortgage has a lower payment in the beginning to help you get started. This may be a good option, especially if this is your first home. Here are some tips about graduated payment mortgages to help you out. This way you can have less to worry about and just enjoy your new home and future.
Ask your Syracuse real estate agent for advice
Real estate agents know that financing a home plays a big role in whether or not you can afford to purchase a home. They can help you go over your options or help you find a lender that can help you out. They are a great first resource.
Starts out with lower payments
Graduated payment mortgages start out with lower payments that increase over the next few years. This allows you to have more money while you are looking for a better job or waiting on a promotion.
Allows you to save for later
This loan allows you to save money for later for home repairs or remodeling or just to budget more for those later increased payments
Good for starter homes
If you only plan to stay in the home for a few years and then move, this is the loan for you, because it has those lower payments in the beginning and may not increase until your income does, so it is good for first homes or starter homes.
Has a fixed rate and maturity
This loan has a fixed interest rate and maturity so that is good since the payments may increase over the years. Just make sure you budget well for the increases that will happen.
If you are just starting out and this is your first home, there is so much to think about and consider. Following these tips and advice about graduated payment mortgages will at least help get you started and give you one less thing to worry about. This way you can focus more on your future and your new home.
Number of Views :55