Basic facts Home Buyers Tax Credit:

• The new deadline is April 30, 2010 (June 30^th with a binding, signed contract)

• First-time buyers are eligible for a tax credit of 10% of the purchase price–up to $8000.00

• Repeat buyers (those who have lived in one residence for 5 consecutive years of the last can receive a credit of up to $6500.00.

• Income levels–$125,000 for individuals; $225,000 for couples.

• The credit may be claimed on this year’s tax return (for 2009).

***Remember that a tax credit is a dollar-for-dollar deduction in what a taxpayer owes. If the credit exceeds the amount owed, a refund will be issued.

Because it generally takes 3 to 4 weeks to process a loan and often an additional month for inspections and paperwork, there are some important and beneficial steps you can take to expedite the purchase of your Gainesville Florida home.

Beating the deadline:

• Get pre-approved for a loan. Have your credit report, proof of funds, and employment certification ready to submit.

• Know what you are looking for. Have some well-thought-out ideas about the desired location, style, and price of your new Gainesville Florida home.

• Supply all documents to your lender in a timely manner.

• Communicate often with your lender. Stay on top of the loan status, closing date, etc.

• Avoid buying a short sale, which is often a lengthy and unpredictable process.

• Take advantage of the expertise and advice of your real estate agent. He/she can be an indispensable asset and guide in your Gainesville Florida home buying experience.

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Here are 9 tips if you are considering selling your Gainesville, Florida home:

• Be realistic, and price your home right by using market comparisons.

• Know your true bottom line for both price and time.

• As the market shifts, be prepared to evaluate your price.

• Advertising your property with yard signs, local MLS and newspapers.

• Get rid of the clutter! It makes your house appear smaller.

• Clean your walls, floors, baseboards, stove and refrigerator. Buyers will know your house is well cared for.

• Clean up outdoors! Remove tools, toys and be sure lawn and shrubs are neatly trimmed.

• Have the carpets cleaned to eliminate odors, smoke, and pet smells.

• Make minor repairs such as leaky faucets, sticky doors, etc.

• Be sure to ask for updated Market Analysis before listing your property.

What’s your Gainesville, Florida home worth?

Schools

One of the most important things to look in to is the quality of schools in the area. Compare various public schools within a school system; some may be better than others. In order to keep all options open, also take a look at private schools in the area. Even if you do not have kids that will attend school, it is still a good idea to pick an area with good schools to help with reselling Gainesville Florida real estate.

Crime

Another crucial characteristic of a neighborhood to research is the crime. Contact the local police office to find out crime trends, types, and rates. Go online to find out if there are any sex offenders living near by. Do not judge a book by its cover, just because a neighborhood looks well kept and charming does not mean there are not any crime related issues.

For financial reasons, check in to the property values of homes in the neighborhood. Find out if the Gainesville Florida real estate values in various areas have been increasing or decreasing. If the neighborhood is in an up and coming area the value of the property is likely to go up. Where as, if the area is going down under, the property value will probably follow. See if there are any future construction and development projects to take place. Alterations to the surrounding area could drastically change the property value.

Location

Next thing to take into consideration is the neighborhood’s proximity. Make sure the location is a reasonable distance to work, school, and other frequented destinations. Convenience always makes life a little easier. Having grocery stores, pharmacies, hospitals, and other places of interest and importance easily accessible will make a big difference in every day life.

Other things to consider when choosing a neighborhood relate directly to the neighborhood it’s self. Just as buyers have preferences in things they are looking for in a house, there are also preferred characteristics to look for in neighborhoods. Neighborhoods could have numerous features to offer such as, gated communities, nice sidewalks, large lots, parks, restaurants, safe roads, trees, landscaping, community recreational facilities, civic leagues, and golf courses. Keep in mind that a neighborhood may have neighborhood fees as part of a home owner’s association. Be sure to pick neighborhood features that best fit the lifestyle of you and your family.

Choosing a neighborhood can be just as difficult as finding the right piece of Gainesville Florida real estate. Finding the perfect home in the right neighborhood may be even more of a challenge. Do your homework, research the area and prioritize features that are most important to you and your family.

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