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Ashton keeps selling homes in Wichita Fals even in 10 inches of snow - Merry Christmas and Happy New Year!!!!
ashton's real estate on the NO GO from Ashton Gustafson on Vimeo.
Even in 8 inches of snow, Ashton is still selling property.
Merry Christmas to all.
www.AshtonGustafson.com
Many people cannot fathom buying a home in today's economy.
But, some in the home buying business say now is the perfect time to do so... and it's all thanks to a tax credit the federal government is offering to those who have not owned a principal home in the past three years.
Wayne Pharries / V.P. Mortgage Lending, First National Bank
"This is called a refundable tax credit .... in that... whether you owe taxes or not... you're going to get this money. So, if you didn't owe any taxes at all, you would get the full amount that you qualify for... up to $8,000."
This tax credit differs from a $7,5000 tax credit offered last year, which actually had to be repaid to the government over a 15 year period.
Mechell Dixon / mechell@kfdx.com:
"There is at least one exception to the no pay back rule. If you sell your house within threes of buying it and taking advantage of that tax credit... then.. the government will expect you to repay them $8,000."
But, one local realtor says... remaining in a house for three years is well worth the free money you could receive.
And, he can't wait for word to spread about the new tax law.
Ashton Gustafson / The Bishop Realtor Group:
"Haven't seen it yet catch on. I think it will. I think once people realize, essentially, what this tax credit is, they'll understand at that time it's a great opportunity."
There is an income limit on the tax rule.
But, provided you qualify and you have the money for a down payment... you can take advantage of this deal that the government believes is one of the first steps to strengthening the economy.
http://texomashomepage.com/content/fulltext/?cid=11601 Click to watch Ashton's News Story
Reported by: Erica Rosales
Friday, Aug 1, 2008 @06:32pm CST
It's being regarded as one of the most significant housing bills in decades.
With more than $300 billion being invested to stabilize a shaky market, some Texoma housing professionals say it can only help.
Ashton Gustafson
Bishop Group realtor associate
"Home values here are very, very affordable and for a first time home buyer it makes this new house bill very promising."
The Housing and Economic Recovery Act of 2008 offers a tax credit to first time home buyers of up to $7,500. The credit is essentially an interest-free loan that buyers will repay to the government over a 15-year period.
Ashton Gustafson
Bishop Group realtor associate
"There's been numerous first time home buyer incentives over the past few years but we haven't seen anything like this."
The bulk of the money in the act aims at helping folks who already own their homes but who are on the brink of foreclosure. Some home owners will be allowed to refinance into fixed-rate loans insured by the federal government. But Debra Clements, owner of Argocie Mortgage, says the measure limits help to some of the people who need the most help.
Debra Clements
Argocie Mortgage President
"You're gonna have to come up with looser guidelines. You can't just sit here and say OK well, we're gonna give all this money to this bill but you've gotta have a perfect credit score."
Housing professionals agree that there are a lot of gray areas in the bill that they'll have to help people sort out before they can find out if they'll qualify for assistance, but they say right now any bit helps.
Debra Clements
Argocie Mortgage President
"There's a lot of people that are hurting right now in a lot of areas of their lives and mortgage is just one part, but I think any help we get is good."
For more specific details on the bill you can visit the Bishop Group website at www.WichitaFallsSource.com/blog or you can find an overview and full text of the act at http://www.govtrack.us/congress/bill.xpd?bill=h110-3221.
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