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Marcia Geise, RE/MAX Platinum, 6870 Grand River, Brighton Michigan, 48114, (810)-923-2010
 
 

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RE/MAX PLATINUM
Covering Livingston, Washtenaw, Oakland and Genesse
for
All your realestate needs.
 
 
Featured Properties
8215 Donna Lou Dr., Brighton Michigan, 48114  Lake
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FIRST-TIME HOMEBUYER TAX CREDIT

EXPIRES APRIL 30th

Call for details and step by step guidance to your new home.

Marcia Geise  810-844-2246

   Cell 810-923-2010
As Modified in the American Recovery and Reinvestment Act
Major Modifications Italicized

February 2009

 

Feature 

CREDIT AS CREATED JULY 2008

APPLIES TO ALL QUALIFIED PURCHASES ON OR AFTER APRIL 9, 2008

REVISED CREDIT –

EFFECTIVE FOR PURCHASES ON OR AFTER JANUARY 1, 2009 AND BEFORE DECEMBER 1, 2009

Amount of Credit

Lesser of 10 percent of cost of home or $7500

Maximum credit amount increased to $8000

Eligible Property

Any single family residence (including condos, co-ops, townhouses) that will be used as a principal residence.

No change

All principal residences eligible.

Refundable

Yes. Reduces (or can eliminate) income tax liability for the year of purchase. Any unused amount of tax credit refunded to purchaser.

No change

Purchasers will continue to receive refund for unused amount when tax return is filed.

Income Limit

Yes. Full amount of credit available for individuals with adjusted gross income of no more than $75,000 ($150,000 on a joint return). Phases out above those caps ($95,000 and $170,000).

No change

Same income limits continue to apply.

First-time Homebuyer Only

Yes. Purchaser (and purchaser’s spouse) may not have owned a principal residence in 3 years previous to purchase.

No change

Still available for first-time purchasers only. Three-year rule continues to apply.

Revenue Bond Financing

No credit allowed if home financed with state/local bond funding.

Purchasers who utilize revenue bond financing can use credit.

Repayment

Yes. Portion (6.67% of credit or $500) to be repaid each year for 15 years, starting with 2010 tax filing.

No repayment for purchases on or after January 1, 2009 and before December 1, 2009

Recapture

If home sold before 15-year repayment period ends, then outstanding balance of repayment amount recaptured on sale.

If home is sold within three years of purchase, entire amount of credit is recaptured on sale. Applies only to homes purchased in 2009.

Termination

July 1, 2009

(But note program changes for 2009)

December 1, 2009

Effective Date

Purchases on or after April 9, 2008 and before January 1, 2009. Repayment to begin for 2010 tax year.

All revisions are effective as of January 1, 2009

Chart source National Association of Realtors Website

MORE INFORMATION ON THE HOMEBUYER  EXTENDED CREDIT AND HOW TO FILE FOR THE CREDIT                              http://www.realtor.org/government_affairs/gapublic/homebuyer_tax_credit

Contact Marcia for more information on this credit before the time runs out.

810-923-2010

mgeise@marciasellshome.net

Finding a good investment in Brighton, MI

Buying a home in a good  investment. What are some of the things that go into making one investment more desirable than another? Aside from an intangible feeling about a place, there are a number of qualities that set some homes apart, such as:

  • Proximity to schools.
  • Well-maintained homes
  • Proximity to shopping.
  • Public facilities like parks, community centers and library.  
  • Freeway Access for commuting

Doing research is critical if you truly want your home to fit your needs. Whether it is a first time home, retirement home, vacation home or just moving up  I will be happy to help you with your research.  I can help with surveys, well and septic logs or inspectors. RE/MAX Platinum offers all the services you will need . Your home is one of the largest investments you will ever make. Here are some basic strategies:

You may like an area now, but you could feel differently if a football stadium or six-lane highway will be your future neighbor.   Check with local officials on the zoning of neighborhoods and the likelihood of any substantial public projects. Large projects such as major road construction are planned years in advance.
 
 

Call City or Township Muncipalities

 

Livingston County Michigan
Local Government Links

 
 
MAPS
 
 
 
 
 
.

Resale Potential

Though appreciation can be an impossible thing to predict, it's good to at least think of resale potential when choosing your home/investment.  Slow selling homes may just be a function of the current market, but they could also indicate problems (or perceived problems) with the neighborhood that could affect resale. Check for any information on new industries or companies moving to the area, which could lead to housing demand later.

Do the Footwork

Probably the most important step in researching homes/investments is to get a first-hand look. Talk to residents, visit local schools, businesses and parks. Learn your way around. If you plan on using public transportation, see what options are available. Be sure to visit the area at several different times of day. Three quick ways to familiarize yourself with an area:

  • Eat at local restaurants such as Brighton Bar and Grill in downtown Brighton and stop in the quaint stores.  Go to the Green Oak Shopping Center and take a walk by all the shopping available there.
      
  • Pick up a copy of the community newspaper, Livingston County Press or The Brighton Argus.
  • Listen to WHMI 93.5 on your radio while you are in Livingston County Michigan and you can also go to WHMI.com
  • RE/MAX Platinum upcoming events to watch for..."Fill the Gazebo" cash and food collection,  American Cancer Society Relay for Life at the Bighton H.S.  Watch for 2010 updates

 Contact Marcia Geise 810-844-2246 for more information. Update: Livingston County Realtors® raised over $10,000. plus over 10,000 pounds of food for Gleaners Food Bank.  Let's hear it for the Livingston County Realtors®  If you have not donated and would like to, contact Marcia Geise

 

Your impression of an area will largely be an emotional reaction.  Don’t leave with any unanswered questions, there are so many resources you can go to.

 

Marcia Geise, your Certified Distressed Property Expert (CDPE) designated Realtor.  I have the knowledge

to help you if you are upside down in your mortgage.  If you have a friend that needs help with an upside down

mortgage have them give me a call for a private consultation.  810-923-2010 cell.

 

 

FORCLOSURES

If you are interested in a list of forclosed homes, I can get one for you. Let me know what area you would like to be and some criteria about the home you want. Often forclosed homes will create multiple offers. You need to be prepared to give your highest and best offer if you find a home you like. Many of the forclosed homes are not mortgagable with a standard mortgage. This is due to the fact that it is not liveable without some repairs to plumbing (frozen pipes), or a kitchen has been removed, etc.  I will help walk you thru the process.  Be sure to get all your questions answered before writing an offer..

 

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