Tag Archives: First Time Buyer Tax Credit

Blogcation Is Over

Whew…sorry, it’s been a while. I have been blogcationing. Hey, what can I say… I’m may be partly amphibian and the sun finally came out in Portland! 🙂

OK…now for some Fresh Frog…I mean BLOG:

The first half of the year’s real estate business was pretty darn great. Although, I have noticed a definite lull in buyer activity since the April 30th tax credit deadline passed. Perhaps because many of the buyers that would have been out searching now have already purchased! They could already be enjoying their tax credit money if they filed an amended 2009 return. Imagine the feeling the first time buyers are getting when they open their mailbox to find a check for 8,000 SMACKERS.

Well, we don’t have a tax credit any more, but thank goodness the loan interest rates are SCREAMINGLY LOW. Did I just scream at you?…sorry. This obviously is a great time to buy if you have the ability to qualify and you feel secure in your job.

It also may be a perfect time to refinance existing loans, even if your current rate is in the high 5% range! With rates as low as they are, it can still make sense to refinance again even if you did last year. For example, if you can save 1% on a $250,000 mortgage and it costs $4,000 in costs to refinance, it’s should take only a little over a year and a half to break even. Many people are refinancing down to a 15 year mortgage with about the same payment as their 30 year mortgage. That’s a ton of savings. If you want to find out more give me a call and I’ll direct you to a quality mortgage professional.

I hope you are also enjoying your summer sun~ 

Kevin Gorman   www.KevinGormanSells.com   and www.ItsaMatterofTrust.com



Comments Off on Blogcation Is Over

Filed under Home Mortgages

Tax Credit Extension For Service Members

Yes, yes, yes…we all now know that in order to qualify for the home buyer tax credit, the buyer must be in a purchase contract  by April 30th and that the transaction must close by June 30, 2010. After all, just about every Realtor has been shouting it from the rooftops of their listings!

BUT…did you also know that these dates are extended one full year for qualified service members who are ordered on a period of official extended duty. Just when you thought the party was over!

Also, a qualified service person who is forced to return to the U.S. for medical reasons before completing an assignment of at least 90 days of qualified official extended duty outside of the United States may qualify for the one-year extension.

A “Qualified service member” is defined as a member of the uniformed services of the U.S military, a member of the Foreign Service of the U.S., or an employee of the intelligence community.

“Official extended duty” is defined as any period of extended duty outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010.

Check with your professional CPA to verify if you or a member of your family qualify for this extension.

 All my best~ Kevin

www.KevinGormanSells.com  www.ItsaMatterofTrust.com

Comments Off on Tax Credit Extension For Service Members

Filed under Real Estate and More

Opportunity is Knocking!

Not only is it knocking…it’s absolutely BANGING on the doors of those who are considering buying.


Because of the above formula, there may never be a better time in your entire lifetime to buy a home. It is absolutely NOT too late to find your home and qualify for the $8,000 or the $6,500 tax credit.

Follow this link to the National Association of Realtors and learn how the home buyer tax credit can work for you.

 Then call me. I’m happy to help.

All my best ~  Kevin

www.KevinGormanSells.com  www.ItsaMatterofTrust.com

Comments Off on Opportunity is Knocking!

Filed under Real Estate and More