Property Taxes & Real Estate Related Income Tax Deductions

January 27, 2010 by Katie Wethman · Leave a Comment 

Property tax season is upon us, and assessments were mailed out. Seventy five percent of Arlington residents saw a drop, but remember that assessments are a lagging indicator.  A lower assessment doesn’t necessarily mean a lower tax bill though…rates are due to increase (read my post about how property taxes are calculated [...]

Is Buying a Home One of Your 2010 New Year’s Resolutions?

December 27, 2009 by Katie Wethman · Leave a Comment 

Get started by attending a free, no obligation first time home buyer class at Arlington Central Library on January 26 at 7:00 pm.
Our first time home buyer classes are educational sessions designed to give an overview of current market conditions and the home buying process.  We cover a recap of the market, current trends and [...]

VHDA Loans Allow Financing of Down Payment

VHDA Loans Allow Financing of Down Payment

December 15, 2009 by Katie Wethman · Leave a Comment 

The Virginia Housing Development Authority has extended its Homebuyer Tax Credit Plus program to match the deadlines of the Federal First-Time Homebuyers Tax Credit.
VHDA’s program lets borrowers use a second mortgage to finance up to 5% of the sales price (enough to cover FHA’s 3.5% down payment requirement) by using the $8000 first time home [...]

Why is the $6500 home buyer tax credit important?

November 15, 2009 by Katie Wethman · 2 Comments 

By this time, most people are aware of the extension and expansion of the $8000 first time buyer tax credit, and many even know about the new “category” of “first time buyers” who are eligible for a $6500 credit.   You can read more details here.  Income limits were raised (previously $75,000 AGI for a single [...]

$8000 First Time Home Buyer Extension and New $6500 “Move Up” Buyer Credit Details

$8000 First Time Home Buyer Extension and New $6500 “Move Up” Buyer Credit Details

November 6, 2009 by Katie Wethman · 1 Comment 

It’s officially passed the House and Senate, and is now awaiting the President’s signature.  Along with the extension of the $8000 First Time Buyer credit (now applies to any buyer under contract by April 30, 2010 and settling by June 30, 2010), there is now a new credit category: long-time residents of the same [...]