Tag Archives: first time home buyers tax credit

Texas Housing Market

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Texas remains one of the bright spots in the nation when it comes to housing and the economy. The Texas Association of Realtors reports that nearly 203,000 homes sold last year, down a modest 5% from 2010 levels. However, home prices remained relatively stable. The median sales price rose 1% last year to $147,600.

Analysts say the drop in sales is not necessarily a sign of a trend since federal government incentives for first-time home buyers spurred sales in 2009. TAR chairman Dwight Hale notes that Texas has emerged in a stronger position than almost everywhere else in the country. He adds that, “Our homes are some of the most affordable in the country and we’re seeing job growth substantially greater than national averages, which will continue to fuel the recovery in Texas.”

If you are looking at new homes in North Dallas, Landon Homes has a variety of affordable, green homes available in several premier neighborhoods. For more than 20 years, this visionary Frisco home builder has been creating homes that respect both the environment and your budget. Landon Homes takes care to conserve energy resources and minimize your monthly expenses, while creating a home that is both beautiful and eco-friendly.

To schedule a tour of Landon’s new homes in North Dallas, Frisco, Little Elm or McKinney, contact Tanya Smith toll-free at 866-898-3603.

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A place for everything, and everything in its place

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When you buy a new home in McKinney, TX, it’s only natural to do everything you can to keep the house in pristine shape after you move in. By spending some time on home organization, you can make sure that clutter doesn’t find a way to move in with you!

Here are a few strategies you can use to keep everything in its place:

1. Set aside one area in your home for mail and important papers.  Soon as the mail comes in, throw out what you don’t need and file the rest in your designated location.

2. Keep kitchen counters clear for food preparation. Store appliances you don’t use every day out of sight. Use tiered stacking shelves and pull-down racks for cabinets. Expandable or modular organizers are great to utilize every inch of drawer space.  A great place to find these supplies is the new Container Store, which recently opened in McKinney.

3. Implement the one in, one out rule. Whenever you get something new like a book or piece of clothing, get rid of something old. That way you’ll avoid the tendency to accumulate things.

4. Use stacking drawers or shelves in closets to take advantage of the vertical space. Also, save time selecting an outfit to wear by color coordinating your clothes, and grouping similar items together.

5. Take advantage of areas over doors and underneath beds to store items you don’t use often. On the other hand, make sure the items you do use frequently are each to reach.

6. Organize your cleaning supplies in one area of your garage, pantry or laundry room to keep them easily accessible.

7. Keep magazines and catalogs from piling up by keeping only the last 6 issues, or better yet, tear out the pages you wish to save, and recycle the rest of the periodical.

If you’re looking to buy a new home in McKinney, TX, contact Landon Homes at 866-898-3603 to schedule a tour of Shiloh Ranch. This quiet community features some of the largest homesites McKinney has to offer.

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Time Running Out on Tax Credit

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You’ve only got a few weeks left to take advantage of the federal tax credits for home buyers. 

April 30 is the deadline for both the $8,000 first-time home buyer credit, and the $6,500 existing homeowner credit. You can take until June 30th to close, as long as you have a signed contract by the end of April. 

Who qualifies for these tax credits? 

For the $8,000 tax credit, you must be a first time home buyer or you haven’t owned a principal residence during the past three years.

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A Bright Side to the Housing Bust

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EnclaveAtLakeviewLifestyleCNN Staff Writer, Les Christie, writes “Homebuying has not been this affordable in a generation.”  Falling home prices along with the $8,000 federal tax credit for home buyers is creating an incredible home buying opportunity for first time buyers.  Empty Nesters who are rethinking their current living conditions and downsizing or buying a second home also appreciate the more affordable pricing.

For buyers in all stages of life, good schools, good value and an improved quality of life are important considerations when making a decision about where to buy a new home.  Landon Homes, a North Dallas homebuilder, is counting on the fact that their community, The Enclave at Lakeview, has something for North Dallas area new home first time buyers as well as empty nesters:  good schools, four amenity centers, one story and two story floorplans with great value and an easy commute to key business, shopping and entertainment areas.

The Enclave at Lakeview offers some of the best prices in the Frisco Independent School District. Located in Little Elm just east of Lake Lewisville, this master-planned community includes four amenity centers, with pools, parks, trails, and more. Lakeview is served by Frisco’s newest and best schools. Panther Creek Parkway leads directly from the Tollway into the community. Frisco’s key business, shopping and entertainment areas are just 10 minutes away.

New homes in The Enclave at Lakeview are affordably priced from the $150’s.  If you’re a first time home buyer and want a new home in the Frisco ISD, time and opportunity are running out.  In order to qualify for the $8,000 tax credit, you must close on or before November 30th and currently there are two homes at The Enclave that can meet that timeframe.  For more information, contact Tanya Smith anytime by phone at 214-707-0347 or just click on our LIVE CHAT feature throughout the Landon Homes website for speedy answers to all of your new home questions.

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$8,000 First-Time Home Buyers Tax Credit

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Do You Qualify for the $8,000 First-Time Home Buyers Tax Credit?It’s easier than you might think……but time’s running out!

Yes. It’s true.  If you are qualified and close on a new home on or before November 30, 2009, you can receive a dollar-for-dollar reduction in what you owe on your 2009 tax return.  That means if you owe $8,000 in income taxes you will receive an $8,000 tax credit and owe nothing to the IRS.  If you owe $4,000 on your 2009 tax returns, then you’ll get a credit for $4,000 and a $4,000 check from the Federal Government for the difference. This money does not have to be repaid.

How do I qualify?

There are two qualifying factors:

  1. You qualify if you are a first time home buyer or if you haven’t owned a principal residence during the past three years.
  2. You qualify as a married couple filing jointly if your modified adjusted gross income (MAGI) is less than $150,000. If you are a single person, your modified adjusted gross income (MAGI) must be less than $75,000.  A partial tax credit is available for individuals earning between $75,000 and couples earning between $150,000 and $170,000.

What type of home qualifies?

Any home that is used as a principal residence will qualify for the credit. This includes single-family detached and attached homes, manufactured homes and even houseboats.

How do I claim the Tax Credit?

All you have to do is claim the tax credit on your 2009 income tax return by completing IRS Form 5405 to determine your tax credit amount and then claiming it on Line 69 of your 1040 tax return.  No other applications or forms are required.

With mortgage interest rates and housing prices at record lows – coupled with the $8,000 tax rebate – this is a golden opportunity for first time buyers to enjoy the benefits of home ownership. But you have to act now.  This tax credit is only available for homes closed on or before November 30th.  That’s just four months away!

If you’re in the Dallas-Fort Worth area and want to find out more about how you can use the $8,000 tax credit, because not all home builders know how to make this work for you. But Landon Homes, rated one of the best new home builders in Dallas, does and their homes qualify.

Landon Homes is helping buyers every day take advantage of the $8,000 tax credit.  Call 1-866-898-3603 or log onto:  www.LandonHomesUSA.com for more detailed information about the $8,000 tax credit.

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