“TIME IS MORE VALUABLE THAN MONEY. YOU CAN GET MORE MONEY, BUT YOU CANNOT GET MORE TIME.” Jim Rohn. And while this is certainly true, home buyers and folks receiving unemployment benefits both got the word that a bit more money and time is coming their way.

Just on Friday, President Obama signed into law a bill that extends unemployment benefits and the First Time Home Buyers tax credit, which is also being expanded to include benefits for homebuyers who aren’t on the first time around buying a home. If purchasing a home is in the cards for you or anyone you know, you can get all the details of the homebuyer’s tax credit in this week’s Mortgage Market Guide View article below. But first, here are a few additional highlights from last week…including important job market news…To Read More Click Here

Tax Credit for Homebuyers

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 $8,000.

Single 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.

See Rate Link

Tax Credit Versus Tax Deduction

It’s important to remember that the tax credit is just that… a tax credit. The benefit of a tax credit is that it’s a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a first-time homebuyer were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.

Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000!

Higher 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 ineligible

Joint 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.

Maximum Purchase Price

Qualifying buyers may purchase a property with a maximum sale price of $800,000.

Old Michigan Travel movie

 This is a great short movie of Northern Michigan 60 years a go. Sleeping Bear Dunes, Traverse City, etc.

 Please watch and then forward to anyone you think might enjoy it. You will enjoy every bit of the film.

 This Movie was made in 1949 -- pre-Mackinaw bridge and I-75 days...very interesting.

 Enjoy! And, there are no golf courses mentioned.

http://www.youtube.....com/watch?v=QMR7veI78f8

LADIES….Mark your calendars!  Please join us at the GT Woman’s Exp(o!).  Saturday & Sunday Sept. 19^th & 20^th, 2009 at the Grand Traverse Resort & Spa.  Shop for everything with over 125 vendors.  Come visit us at booth #36 and register for more than 6 drawings!

Click on the picture above to read the newsletter.

The housing market continues to show very positive signs of recovery nationwide and in the Traverse City area there seems to be an increasing number of buyers in the market. Several homes for sale in fact have, in recent weeks seen multiple competing offers, highly unusual since 2001 and 2002. The Traverse City area offers highly affordable homes in all sectors from million dollar executive mansions to new 1.5 bath 3 bedroom homes. Large unsold inventory, falling prices for homes, low interest rates, positive press, buyer purchasing support through various government programs make 2009 one of the best times in recent history to buy a home. If you are in the market for a new home in the Traverse City area now is the time to call the Remerica professionals who will put your priority 1st . Tired of the rest, it’s time that you called the best! If you want it done right give Remerica Traverse a call today. Capitalize on the buyers market NOW.

BRENT’S BLOG, 31 July 2009 Traverse City has again been named one of the top retirement locations in the United States. For those of you who may have been dozing in your coffee over the past weekend it was noteworthy that Traverse City appeared in the “MoneySmart” section of USA Weedend edition. Get this, Traverse City ranked 4th of 5 for the “top five cities for young retirees” throughout America. The underlying factor seemed to be that a lot of young retirees are buying now to take advantage of the great deals, buys and steals that are out there and capitalizing on the record low interest rates. For anyone familiar with the Grand Traverse Region and/or Traverse City it comes as no surprise that Traverse City ranked so high nationally in that the criteria for the selection, in order, was “based on recreation, weather, health resources, crime and cost of living”. This morning was another pristine sunrise over the lakes with streaks of sunshine breaking through the lifting fog of the morning with a sky filled with bright blue patches. Join the march to paradise and take the time to savor what real nature has bestowed on the Traverse City area and take advantage of the low home prices and the abundance of services, shopping, recreation, music and fresh air. Oh, did I mention that the cherry harvest is at its peak with an abundance of fresh scents of a variety of fruit yet to mature and reach the many roadside stands throughout Northern Michigan. Now is the time to buy your part of our beautiful part of paradise. Ah, Traverse City.

Ah, paradise. Having grown up in the Grand Traverse area, Duck Lake Peninsula to be exact I can recall as a child hearing the haunting sound of taps being played at 10 PM every summer evening and so it was again last evening. The source of the melodic notes of taps was the Interlochen Arts Academy (Interlochen Music Camp) for those who remember the early days. When a SW breeze is blowing you can hear the sounds of music on the Peninsula from students practicing their music, concerts, jazz sessions and late in the summer the wonderful sound of the bugle at reveille, retreat and of course taps for those attending the special youth camps at Interlochen. Having spent a career in the military and now back in northern Michigan the wafting sounds of yesteryear are most soothing. Experience the sounds of Traverse City be it at the Opera House, the Traverse City Music Festivals, Traverse City Film Festival, Interlochen Arts Academy or just the sounds of the surf against the beautiful rocks, beaches or waves bouncing off the legs of docks, boats and water toys. Take the time to listen and you will be amazed at what you can hear in the quiet of the late afternoon and evening on the lakes of Northern Michigan. Ah, paradise. Traverse City!

Okay, so we are playing a bit of catch-up here with out newsletter.  Things have just been so busy around here as of late, we hardly have time to think.

July 2009

June 2009

May 2009

March 2009