By James Gibson April 23, 2009
Great family company with great service, got my home sold for a great price and found me a home for a steal. I recomend them to anyone. ...read more
By MaxWay Health and Wealth November 15, 2008
We at maxwayhealthandwealth.com endorse our new friends at Century 21 Alliance Real Estate- Leah Leighton - Realtor of Levittown, PA. Thanks for joining our business network! Wishing you the best of health, success and happiness Leah! Sincerely, Shelley www.maxwayhealthandwealth.com ...read more
By Martins Cleaning & Painting Inc September 15, 2008
THANK YOU FOR CONNECTING WITH MY NETWORK. HAVE A PROSPEROUS YEAR. ...read more
Morrell Park townhouse on quiet street close to the parks and all major highways and public transportation. Enter into the living room and you can easily see the finishing touches and upgrades the owners have done for the new home owners. Large open floor plan. Living room is drenched in sun in the morning from the large bow window. Dining room provides ample space for a full dining room set, great for those large holiday gatherings. Spacious eat in kitchen with plenty of cabinets, a pantry and Corian countertops that the chef will appreciate. Current owners spend 9 months a year on the deck that is just off the eat in kitchen. Upstairs you will find 3 freshly painted bedrooms with large closets and an attic for your storage needs. Remodeled hall bathroom. Downstairs features a large rec room with access to a patio and the back yard as well as the laundry room, office and garage storage. The garage has been converted into storage and an office, garage can easily be converted back into a full one car garage Call 267-352-8000 for more information 3562 DOWS RD, PHILADELPHIA, PA 19154 ...read more
By Century 21 Veterans June 19, 2015
TAX CREDIT OVERVIEWWho Gets What?First-Time Homebuyers (FTHBs):First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.Current Owners:The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to$6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.What are the New Deadlines?In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.What are the Income Caps?The amount of income someone can earn and qualify for the full amount of the credit has been increased.Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligibleJoint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.What is the Maximum Purchase Price?Qualifying buyers may purchase a property with a maximum sale price of $800,000. What is a Tax Credit?A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual's primary residence.How Much are First-Time Homebuyers (FTHB) Eligible to Receive?An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000.Who is Eligible fort FTHB Tax Credit?Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible.This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500.How Much are Current Home Owners Eligible to Receive?The tax credit program includes a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.Can Homebuyers Claim the Tax Credit in Advance of Purchasing a Property?No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place.Can a Taxpayer Claim a Credit if the Property is Purchased from a Seller with Seller Financing and the Seller Retains Title to the Property?Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Some examples of this would include a land contract or a contract for deed.According to the IRS, factors that would demonstrate the ownership of the property would include:1. Right of possession,2. Right to obtain legal title upon full payment of the purchase price,3. Right to construct improvements,4. Obligation to pay property taxes,5. Risk of loss,6. Responsibility to insure the property, and7. Duty to maintain the property.Are There Other Restrictions to Taking the FTHB Credit?Yes. According to the IRS, if any of the following describe a homebuyer's situation, a credit would not be due:They buy the home from acloserelative. This includes a spouse, parent, grandparent, child or grandchild.(Please see the question below for details regarding purchases from "step-relatives.")They do not use the home as your principal residence.They sell their home before the end of the year.They are a nonresident alien.They are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.)Their home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.)They owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2008, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2005, through July 1, 2008. Can Homebuyers Purchase a Home from a Step-Relative and Still be Eligible for the Credit?Yes. As long as the person they buy the home from is not a direct blood relative, the purchase would be allowed.If a Parent (Who Will Not Live In The Property) Cosigns for a Mortgage, Will Their Child Still be Eligible for the Credit?Yes, provided that the child meets the other requirements for the tax credit. ...read more
By Century 21 Alliance Real Estate-Victor Corsino November 12, 2009
The Obama administration blessed the proposed extension of the $8,000 tax credit for first-time home buyers on Thursday as the Senate neared a compromise that would extend the credit to more potential buyers. Here's a primer on who might be able to get the expanded credit, and what it might do for the housing market: Who gets the credit, and how much can they claim?First-time home buyers are eligible for up to $8,000 on the tax credit, which is the same as the current credit. The Senate version of the bill creates a new credit of up to $6,500 for homeowners who have lived in their homes for five years. That provision would start on Dec. 1. How long will it last?The tax credits would expire on April 30, 2010, but home buyers under contract by April 30 would be able to qualify as long as they complete the sale within 60 days. Keep in mind, this would be the third iteration of a home buyer tax credit that has been in place since mid-2008. Sen. Johnny Isakson, the Georgia Republican who has been a staunch advocate of the credit, promised that this would be the "last extension" of the credit, according to Dow Jones Newswires' Corey Boles. "Tax credits like this only work by creating the sense of urgency to take advantage of it," Sen. Isakson said. Will the tax credit do anything for the high-end of the market?Probably not. The tax credit phases out for home buyers with incomes above $125,000 for single filers and $225,000 for married couples. Also, homes that cost more than $800,000 aren't eligible for the credit. Overall, the tax credit is likely to generate only a modest further increase in home sales, says Tom Lawler, an independent economist in Leesburg, Va. For many well-paid people, he says, it won't make a big difference: "A household earning around $150,000 is likely to buy a home of $500,000 plus, so a $6,500 credit won't be much of a factor in pushing such households off the fence." What other limits does the credit have?Toddlersare out of luck. Last week's congressional hearings spotlighted concerns about misuse of the credit, including some 500 tax filers under age 18 who had claimed the credit. ...read more
By Century 21 Alliance Real Estate-Victor Corsino November 05, 2009
Are you looking to buy a house? When you go to look at houses, you will quickly see that realtors do not use street addresses as a method of identifying houses. They use an MLS number which allows them to quickly access information about a property for sale. Using a street address gives you some infor... ...read more
Finding the perfect place for your business can take a great deal of time and research. You may want to lease a building rather than rent it. Leasing a building helps you build equity in the building. Depending on your location, commercial property may be listed for lease differently than traditional ... ...read more
