In order to qualify for the tax credit which applies to a principal residence, you have little time left. The deadline is set for April 30th, and to qualify you have to buy your new home by that date and you must close on the deal by June 30th of 2010.
 
1.  For the most part, homebuyers can’t use the tax credit as an automatic down payment on a new property. Sometimes, in some cases, it can be used for a down payment or to pay for closing costs provided that the loan is handled through the FHA.

2.  You receive the tax credit when you file your taxes, you don’t get a check when closing, as is assumed by many homebuyers.

3.  The reality is that the top tax credit for homes purchases is $8,000 and you don’t always get the full credit.
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As we continue through the winter months, and look forward to better spring and summer days, the real estate climate appears to be very favorable for 2010. New York City real estate seems to show strong sings of recovery for the rest of year. Prudential Douglas Elliman’ 4th Qtr. report (prepared by Miller Samuel) shows strong signs of stabilization. The fourth quarter showed increases in sales activity, inventory declined, fewer price cuts, and prices seemed to be more stable.
 
Several factors contributed to this effect including the improvement of the overall economy, ... Read more

There are many reasons why it is a good idea to invest in New York City real estate, for instance, unlike in many other areas of the country where properties have devaluated as much as 40%, NYC has depreciated only approximately 25% (when compared to cities like Los Angels or San Francisco) according to an article from TheStreet.com. The real estate industry remains very active, the volume of the transactions have increased, there is a large foreign investor interest, and the supply remains low compared ... Read more

SIMPLE CHANGES CAN IMPACT HOW QUICKLY YOUR PROPERTY SELLS AND AT WHAT PRICE

Many cosmetic changes can be made with minimal time and expense. Buyers will be comparing your property to competing properties. So here are a few practical tips to help yours stand out above the rest.

Unclutter
Eliminating clutter will make your property feel larger and brighter. If your property is uncluttered and neutral, prospective buyers can explore it comfortably and envision it with their own personal touches.

Repair
Making certain repairs will present your property in a more positive light to prospective buyers, ... Read more