May 21, 2010

FORECLOSURES 5/14/2010-5/21/2010

The link attached lists all the new Prescott area foreclosures for the last week. Please contact me for additional listing information.

http://www.paarmls.org/prs/maildoc/sd_AAAa0068W20100521142925.html

Stephanie Woods
928-308-8565
Cash for Short Sales
Short Sales are More Valuable Than Ever!

Avoiding foreclosure is always a smart move, but now there are incentives that make it an even better one.

Short sales and deeds-in-lieu are dignified solutions to foreclosure, and now the government is making them easier and quicker through the Home Affordable Foreclosure Alternatives Program, or HAFA, which also gives the homeowner $3,000 for participating.

Call me regarding the benefits of completing a HAFA short sale.

Please contact me to start exploring solutions.

Stephanie Woods
928-308-8565

May 7, 2010

Home Buyer Tax Credit Extension

Home Buyer Tax Credit Extension for Military
Included in the Worker, Homeownership & Business Assistance Act of 2009, is a special provision for:

q Members of uniformed services
q Members of Foreign Service of the US
q Employees of Intelligence Community
q Spouse of any of the above

In laymen’s terms:

The same rules that had applied to first time home buyers are still in effect, but the time frame has been extended to the military and certain federal employees (above)--they get a one year extension to buy a home until April 30, 2011 and close by June 30, 2011.

For repeat buyers (meaning that they must have used it as a principal residence for 5 years out of an 8-year time period), the dates above apply here.

More definitions that you need to know.

“Extended duty “means severing 91 consecutive days

“Place of duty” means either overseas or at least a 50 mile distance from their primary residence.

“Duty Dates” mean they must have served 91 consecutive days between January 1, 2009 and April 30, 2010

Here's the link to the IRS page about it.

http://www.irs.gov/newsroom/article/0,,id=215594,00.html