Comments on: Buyer Beware!!! – $8,000 Tax Credit? http://raincityguide.com/2009/02/05/buyer-beware-15000-tax-credit/ Seattle's Leading Resource for Real Estate Information Sat, 20 Mar 2010 05:05:28 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: ARDELL http://raincityguide.com/2009/02/05/buyer-beware-15000-tax-credit/#comment-335123 ARDELL Mon, 16 Feb 2009 05:33:26 +0000 http://raincityguide.com/?p=4775#comment-335123 Winston, Reminds me of my cousin who hated my Mom for "using up her Social Security". My Dad died when my Mom was 43 and had 7 children 4 of them minors at the time and two of whom were very sickly children. So my Mom received Social Security long before she was "old". At some family function one of her 2nd cousins screamed at her "YOU are using up MY Social Security and there won't be any for me when I get old!" Not sure why your comment reminded me of that, but it did. Winston,

Reminds me of my cousin who hated my Mom for “using up her Social Security”. My Dad died when my Mom was 43 and had 7 children 4 of them minors at the time and two of whom were very sickly children. So my Mom received Social Security long before she was “old”.

At some family function one of her 2nd cousins screamed at her “YOU are using up MY Social Security and there won’t be any for me when I get old!”

Not sure why your comment reminded me of that, but it did.

]]> By: Winston http://raincityguide.com/2009/02/05/buyer-beware-15000-tax-credit/#comment-335101 Winston Sun, 15 Feb 2009 23:37:06 +0000 http://raincityguide.com/?p=4775#comment-335101 I own four paid-off properties. Their values have been destroyed. I worked my butt off to pay these off. I do not have heat or hot water now as I want to afford taxes on these properties. I am not eligible for a buyer credit. My taxable income last year was $4000. I am not eligible for senior credit, unemployment, and all the other stuff others can get. I hate my fellow citizens. I own four paid-off properties. Their values have been destroyed. I worked my butt off to pay these off. I do not have heat or hot water now as I want to afford taxes on these properties.

I am not eligible for a buyer credit. My taxable income last year was $4000. I am not eligible for senior credit, unemployment, and all the other stuff others can get.

I hate my fellow citizens.

]]> By: grace http://raincityguide.com/2009/02/05/buyer-beware-15000-tax-credit/#comment-334334 grace Tue, 10 Feb 2009 17:33:21 +0000 http://raincityguide.com/?p=4775#comment-334334 Thank you, thank you! I will do that. Thank you, thank you! I will do that.

]]> By: ARDELL http://raincityguide.com/2009/02/05/buyer-beware-15000-tax-credit/#comment-334333 ARDELL Tue, 10 Feb 2009 17:29:21 +0000 http://raincityguide.com/?p=4775#comment-334333 grace, You don't sound crazy. We both know there's no way your price went up like that, but if you want to "report it" and have someone look into it, email davidg@zillow.com If it was local I'd do it for you, or tell him when I see him on Friday. But given it's in CO...you can take it to him. grace,

You don’t sound crazy. We both know there’s no way your price went up like that, but if you want to “report it” and have someone look into it, email davidg@zillow.com

If it was local I’d do it for you, or tell him when I see him on Friday. But given it’s in CO…you can take it to him.

]]> By: grace http://raincityguide.com/2009/02/05/buyer-beware-15000-tax-credit/#comment-334331 grace Tue, 10 Feb 2009 17:19:55 +0000 http://raincityguide.com/?p=4775#comment-334331 I must sound crazy since I am asking about the CO market while oyu're in Seattle. Anyway, you don't need to answer if you don't want to. Thanks! I must sound crazy since I am asking about the CO market while oyu’re in Seattle. Anyway, you don’t need to answer if you don’t want to. Thanks!

]]> By: grace http://raincityguide.com/2009/02/05/buyer-beware-15000-tax-credit/#comment-334321 grace Tue, 10 Feb 2009 15:29:08 +0000 http://raincityguide.com/?p=4775#comment-334321 Hello! We live in Aurora, CO (very, very close to Denver). It's not a foreclosure and it has 4 bedrooms, 2 baths and 1800 sq ft. bi-level. The total lot area is almost 8000 sq.ft. Hello! We live in Aurora, CO (very, very close to Denver). It’s not a foreclosure and it has 4 bedrooms, 2 baths and 1800 sq ft. bi-level. The total lot area is almost 8000 sq.ft.

]]> By: ARDELL http://raincityguide.com/2009/02/05/buyer-beware-15000-tax-credit/#comment-334295 ARDELL Tue, 10 Feb 2009 07:14:01 +0000 http://raincityguide.com/?p=4775#comment-334295 That sure doesn't seem right, grace, unless you bought a foreclosure. Where is the house? That sure doesn’t seem right, grace, unless you bought a foreclosure. Where is the house?

]]> By: grace http://raincityguide.com/2009/02/05/buyer-beware-15000-tax-credit/#comment-334261 grace Tue, 10 Feb 2009 03:44:16 +0000 http://raincityguide.com/?p=4775#comment-334261 Thanks Ardell! One more question, is zillow.com pretty accurate in giving estimates? It just seemed kind of weird to me since my house is now worth $246,000 ( I bought in for $155,000 in Sept.08). Isn't that such a big jump? We are first time home buyers so we don't really know anything about the housing market. Most houses, like my sister's and my brother's houses have gone way down. But not ours, which I am feeling doubtful. I mean, my house is pretty well kept, very clean etc. Thank you again for the fast reply. :) Thanks Ardell!
One more question, is zillow.com pretty accurate in giving estimates? It just seemed kind of weird to me since my house is now worth $246,000 ( I bought in for $155,000 in Sept.08). Isn’t that such a big jump? We are first time home buyers so we don’t really know anything about the housing market. Most houses, like my sister’s and my brother’s houses have gone way down. But not ours, which I am feeling doubtful. I mean, my house is pretty well kept, very clean etc.
Thank you again for the fast reply. :)

]]> By: ARDELL http://raincityguide.com/2009/02/05/buyer-beware-15000-tax-credit/#comment-334231 ARDELL Mon, 09 Feb 2009 23:17:14 +0000 http://raincityguide.com/?p=4775#comment-334231 grace, Not to worry. The replacement of this one for the old one will not negate the old one. The main issue will be the overlap period. Bush's was 4/9/08 to 6/30/09. I expect if this one passes on 2/30/09 (as example, it will replace the old one AS OF 2/30/09 and have a retroactive provision of some kind...maybe not. When they were both $7,500, this was more clear. Will January buyers get a credit vs. a loan only to $7,500 or to $15,000? I don't know that, and I don't think anyone can be certain until this one is actually signed. But for you and September of 2008, I'm 99% positive it is clear as someone called the IRS about it a few days ago and said so in one of these posts. For you...it is what it is now and has been since 4/9/08. You can pay someone to look over your completed return to be sure. It probably wouln't cost much to have them review that one provision. grace,

Not to worry. The replacement of this one for the old one will not negate the old one. The main issue will be the overlap period.

Bush’s was 4/9/08 to 6/30/09. I expect if this one passes on 2/30/09 (as example, it will replace the old one AS OF 2/30/09 and have a retroactive provision of some kind…maybe not.

When they were both $7,500, this was more clear. Will January buyers get a credit vs. a loan only to $7,500 or to $15,000? I don’t know that, and I don’t think anyone can be certain until this one is actually signed.

But for you and September of 2008, I’m 99% positive it is clear as someone called the IRS about it a few days ago and said so in one of these posts. For you…it is what it is now and has been since 4/9/08. You can pay someone to look over your completed return to be sure. It probably wouln’t cost much to have them review that one provision.

]]> By: grace http://raincityguide.com/2009/02/05/buyer-beware-15000-tax-credit/#comment-334221 grace Mon, 09 Feb 2009 22:52:16 +0000 http://raincityguide.com/?p=4775#comment-334221 My husband and I bought a house Sept. 2008, we will definitely qualify for the $7500 tax rebate/loan. The way I understand it, the 15K will replace the 7500. But the 15K will only be given to people that bought a house this year ( '09). Anyway, my question is, if the 15K will replace the $7500, does that mean we will not get any rebate, since we bought it in '08? We have been delaying the filing of our taxes because of these reasons. Do you think it would be wise to just file now and not wait for the bill to be passed? My husband and I bought a house Sept. 2008, we will definitely qualify for the $7500 tax rebate/loan. The way I understand it, the 15K will replace the 7500. But the 15K will only be given to people that bought a house this year ( ‘09).
Anyway, my question is, if the 15K will replace the $7500, does that mean we will not get any rebate, since we bought it in ‘08? We have been delaying the filing of our taxes because of these reasons. Do you think it would be wise to just file now and not wait for the bill to be passed?

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