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uncle-samThe clock is ticking down for first time home buyers.  You need to act NOW to make sure that you don’t miss out on the $8,000 from Uncle Sam. 

Here is the fast, quick information you will need to see if you qualify for the $8,000 tax credit for first-time home buyers from The American Recovery and Reinvestment Act of 2009.

  • You must be a first time home buyer, defined as not owning a home in the past 3 tax years.
  • Tax credit amount is 10% of the sales price of the home up to a maximum of $8,000.
  • There is NO price limit on the sales price of home.
  • Maximum income to receive FULL tax credit is $75,000 for a single person, the limit for married couples is $150,000.
  • You can receive a PARTIAL tax credit for income levels up to $95,000 for a single person and $170,000 for married couples. 
  • There is no payback or penalty as long as you stay in home as your principal residence for 3 years.
  • You must CLOSE on your new home on or after January 1, 2009 or before December 1, 2009.   

***IMPORTANT:  Congress passes tax credit extension.  Must have binding sales contract dated on or before April 30, 2010 and close on or before June 30th, 2010. 


This is the quick & dirty information that you need right now for the $8,000 Tax credit.  For more detailed information you can go HERE.

It is a great time to be a home buyer.  This is the perfect time to by a home, especially 1st time home buyers, as long as your job is secure.  If you feel safe in your current employment/job, then there are just so many positive reasons to now buy a home.  Don’t miss the “gravy train!”

  • Buyer’s market
  • Really low mortgage interest rates
  • High inventory levels.  Plenty of home options
  • Depressed, low prices (buy low, sell high) 

Please contact me if you have more questions or need help.Throwing Money

IMPORTANT:  I’m just trying to help the “average Joe home owner” to understand the new $8,000 tax credit.  I have to put this” CYA” disclaimer in my post.  Please consult a tax professional or accountant for more details and eligibility questions regarding the $8,000 1st time home owner tax credit.  I’m not an accountant or tax professional.

 Good luck out there!

 Home Buyer Advocate Mike

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Great article in this past Sundays, The Columbus Dispatch newspaper about home inspections.  “Inspector aims to open eyes”.  Local home inspector, David Tamny of Professional Property Inspections will be the  new president of the American Society of Home Inspectors (ASHI).

David has been a home inspector on our company approved list for nearly 13 years.  His company web site is also on my blog roll link on left.  David is a very competent home inspector.

Suprisingly, home inspectors in the state of Ohio are still not licensed.  Home buyers have to be very careful when selecting a qualified home inspector.   A good option for home buyers to find a qualified home inspector is to check and see if the  inspector is a member in good standing with one of the two big professional trade associations.

National Associaton of Home Inspectors (NAHI) and American Society of Home Inspectors (ASHI) are the two largest home inspector trade associations in the United States.  David Tamny will be the new incoming president of the 5,800+ member AHSI. 

Make sure you take a second to read the article link on home inspections.  It is great information for possible home buyers.

Please feel free to contact me if you need help or have questions

Home Buyer Advocate Mike

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NAR Green Designation

NAR Green Designation

Congratulations to Andrew Show for being the only Exclusive (true) Buyer Broker in the State of Ohio that has obtained the  National Association of   andrew-showRealtors (NAR) GREEN certified designation. (NAR Green Council)

Consumer demand for real estate professionals that are GREEN knowledgeable is exploding.  More home buyers are requiring their Buyer Agents to understand Green building principles and the financial advantages of properties that are energy efficient and ecologically friendly to the environment. 

Again, Congratulations Andy!

Home Buyer Advocate Mike

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Your home is probably your most valuable asset.  You want to make sure your home is fully insured.  But, you don’t want to be over-insured.  Stack of Money

Many home owners don’t fully understand all the coverage options of their home owners’  insurance policy.

This blog post will give you 10 quick tips on how you can SAVE  money on your home owners’  insurance premium.

  1. One insurer, multiple policiesIt is best to have all your insurance policies (home, auto, boat, life, etc.) with one company.  Almost all insurance companies will give their customers multi-policy discounts.
  2. Raise your deductible – You can possibly save between 12% – 37%, if you have a deductible of $500 to $5,000.  You might not want to carry the same deductible amount for your auto and home owners policy.
  3. Newer is better – Home owners’  insurance premiums are less expensive for newer built homes.  Older homes are typically more costly to rebuild and newer homes have safe, new mechanical systems. (electrical, heating, plumbing, etc.)
  4. Location, location, location – Do you live in earthquake prone California?  Do you live in Florida where hurricanes are a fact of life?  Other location issues to consider; are you close to a fire station?
  5. Insure the house, not the land – A fire and high winds will destroy your home, but not your land.  Your land cost typically makes up  15% – 25% of your total home value.
  6. Don’t insure what you don’t have – Review your policy at least once a year.  Make sure you aren’t over-insuring possessions (furs, computers, jewelry, guns, etc.).  Also, pay close attention to endorsements on your policy.   The amount of insurance protection that your receive per  endorsement premium dollar  is typically very costly.
  7. Better safe, than sorry Smoke detectors, monitored security systems (fire/police), fire extinguishers, etc. can save you discounts from 5% – 20%.
  8. Where there is smoke, there is fire – More than 23,000 residential fires happen in the USA due to  smoking issues.  Some insurers offer discounts if all residents in home are non-smokers.
  9. Group discounts – Some insurers offer discounts to certain business or alumni associations.  Make sure you ask your agent about this discount.
  10. Don’t jump around – If you are satisfied with your insurance company or agent then stay with that company.  Most insurance companies offer discounts if you stay with them for 3, 5 and 10 years.

As always, you want to check with a licensed insurance agent before making any changes to your home owners’  insurance policy.  I am NOT an insurance agent.

Special thanks to Stephen Evanko, Jr, Insurance Advisor and Author for reference material for this blog post.

Good luck out there!

Home Buyer Advocate Mike

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Michael Marshall – Angie’s List Super Service Award 2013!

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HomeBuyer Advocate Mike

Representing People, NOT Property in Columbus, Ohio. If you are a home buyer, then you need me to protect you. I can help you get the best price and terms for your next home purchase. You must use a true Buyer Broker! 1.614.805.7607



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