The Real World of Real Estate – where the grass is greener


Decatur and Huntsville top list of real estate markets – WAFF.com: North Alabama News, Radar, Weather, Sports and Jobs-
May 26, 2010, 9:33 am
Filed under: Uncategorized

Decatur and Huntsville top list of real estate markets – WAFF.com: North Alabama News, Radar, Weather, Sports and Jobs-.



BULLETIN
April 22, 2010, 12:06 pm
Filed under: Real Estate - Market Updates

MilitaryTaxCredit



First-Time Homebuyer Credit: Members of the Military and Certain Other Federal Employees
April 15, 2010, 11:21 am
Filed under: Real Estate - Market Updates

First-Time Homebuyer Credit: Members of the Military and Certain Other Federal Employees

 

The Worker, Homeownership and Business Assistance Act of 2009, which was signed into law on Nov. 6, 2009, extends and expands the first-time homebuyer credit allowed by previous Acts. The new law:

  • Extends deadlines for purchasing and closing on a home.
  • Authorizes the credit for long-time homeowners buying a replacement principal residence.
  • Raises the income limitations for homeowners claiming the credit.  

Under the new law, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2010 and close on the home by June 30, 2010. For qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 return.  

For the first time, long-time homeowners who buy a replacement principal residence may also claim a homebuyer credit of up to $6,500 (up to $3,250 for a married individual filing separately). They must have lived  in the same principal residence for any five-consecutive year period during the eight-year period that ended on the date the replacement home is purchased.

People with higher incomes can now qualify for the credit. The new law raises the income limits for homes purchased after Nov. 6, 2009. The credit phases out for individual taxpayers with modified adjusted gross income (MAGI) between $125,000 and $145,000 or between $225,000 and $245,000 for joint filers. The existing MAGI phase-outs of $75,000 to $95,000 or $150,000 to $170,000 for joint filers still apply to purchases on or before Nov. 6, 2009.

Several new restrictions apply to homes purchased after Nov. 6, 2009.

  • Purchasers must attach a properly executed settlement statement to their return.
  • No credit is available if the purchase price of the home exceeds $800,000.
  • The purchaser must be at least 18 years old on the date of purchase. For a married couple, only one spouse must meet this age requirement.
  • A dependent is not eligible for the credit.
  • The new law gives the IRS broader authority to deny first-time homebuyer credit claims, without having to first audit a taxpayer’s return. Known as math error authority, this authority applies, retroactively, to credits claimed on original and amended 2008 returns, as well as to claims yet to be filed.

Additionally, there are new benefits for members of the military and certain other federal employees:

  • Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.
  • In many cases, the credit repayment (recapture) requirement is waived for members of the uniformed services, members of the Foreign Service and employees of the intelligence community. This relief applies where a home is sold or stops being the taxpayer’s principal residence after Dec. 31, 2008, in connection with government orders received by the individual (or the individual’s spouse) for qualified official extended duty service. The credit is still allowable even if this happens during the year of purchase. Qualified official extended duty is any period of extended duty while serving at a place of duty at least 50 miles away from the taxpayer’s principal residence (whether inside or outside the U.S.) or while residing under government orders in government quarters. Extended duty is defined as any period of duty pursuant to a call or order to such duty for a period in excess of 90 days or for an indefinite period.

Question and Answer

Q. Are both spouses required to be overseas for the requisite time period in order to qualify for the 2011 extension to claim the credit?  

A. Only one spouse must be overseas on official extended duty for the requisite amount of time for either spouse to be eligible for the 2011 extension of time to purchase a principal residence and claim the credit. 



There is still time!
April 9, 2010, 12:13 pm
Filed under: Real Estate - Market Updates, Real Estate - Team Members

RATES ARE STILL GOOD…….THEY WENT UP SLIGHTLY AND NOW THEY HAVE gone BACK down, see below and call….. We still have time to find a home, qualify for a mortgage before the tax incentive ends on June 1, 2010.

 

THE DAVIS TEAM will help you all through the process from getting qualified to finding the right home for your family…..YOU are important to us and we look forward to hearing from you SOON!  I AM AVAILABLE AT 256-325-8500, JUST ASK FOR CAROLINE….. AND CELL 256-653-8289.

 

 

 

 

 
 

04/09/2010

Conventional 30-year Fixed Rate

4.875%

FHA 30-year Fixed Rate

4.875%

VA 30-year Fixed Rate

4.875%

AHFA Step Up Program

5.375%

GENERIC RATES ARE BASED ON 1% ORIGINATION FEE, 30-DAY LOCK, 740 CREDIT SCORE, 10% DOWNPAYMENT, AND LOAN AMOUNT OF $150,000 OR MORE.

SPECIFIC RATE QUOTES MAY VARY BASED ON DETAILS SUCH AS CREDIT SCORE, NUMBER OF UNITS, OCCUPANCY TYPE, DOWNPAYMENT PERCENTAGE, LOAN AMOUNT, ETC.

Caroline Davis,  REALTOR

The Davis Team

Realty World South

(256) 325-8500  ofc

(256) 325-8504 fax

(256) 653-8289 cell

www.RealtyWorldSouth.com

 

 



3 easy steps to getting the Extended Home Buyer Tax Credit
April 7, 2010, 9:51 am
Filed under: Real Estate - Market Updates

You’ve decided to purchase a home and take advantage of the Extended Home Buyer Tax Credit. Here’s what you have to do to get your benefit:

  1. Close on your home purchase between November 7, 2009 and April 30, 2010, or have a binding written contract in place by April 30, 2010 with a closing date no later than June 30, 2010.
  2.  Decide whether to: 
    • apply the credit to your 2009 tax return, filed on or before April 15, 2010;
    •  file an amended 2009 return; or, 
    • apply the credit on your 2010 return, filed on or before April 15, 2011.
  3. Attach documentation of purchase to your return.

Courtesy of Realtor.org



April 6th credit building seminar
March 18, 2010, 10:06 am
Filed under: Real Estate - Market Updates

The government tax incentives to purchase has been extended, Why wait for
higher prices.  We can still meet the deadline to close by June 1, 2010. The
government incentives of up to $8000 for FIRST TIME HOME BUYERS and up to
$6000 for existing home owners, combined with sellers and builders
incentives makes "now" the time to purchase.  All indications are that this
incentive will not be extended again. 

Call for details.  Anyone associated
with our Military has special options.  I look forward to helping you
achieve the American Dream of HOME OWNERSHIP.

REALTY WORLD SOUTH, TRW CREDIT GROUP AND Alex Thomas WITH WR Starkey
Mortgage are combining our talents, expertise and experience in a Seminar to
help "anyone" reach their goal of home ownership.  The first Seminar is
scheduled for April 6th..the first Tuesday in April.  Watch for the detailed
information in a follow up email. This  Seminar will be every first Tuesday
of each month.  This will be held at REALTY WORLD SOUTH TRAINING ROOM,
seating is limited so please respond to this email to reserve your place! 

Caroline Davis, 
The Davis Team
Realty World South
Owners
(256) 325-8500  ofc
(256) 325-8504 fax
(256) 653-8289 cell
www.RealtyWorldSouth.com



Building Home & Remodeling Show Huntsville Alabama March 5 – 7, 2010
Come Check Us out at the Show

Come Check Us out at the Show

 Come Visit Realty World South at the Home Builders Show hosted by the Huntsville Madison County Builders Association! Click the picture to find our more information!

Tags: , , ,


Sweet Home Alabama has “Sweet Deal”….

UA study: Alabama homes sweet deal

According to a new University of Alabama study, homes around the state are more

affordable than ever.

The university’s Alabama Center for Real Estate reports a fourth-quarter 2009 of 211.2.

The center calculates the affordability index as the ratio of the state’s median family

income to the income needed to purchase and finance the state’s median-priced home.

An index of 100 means that a family earning the state’s median income has just enough

buying power to qualify for a loan on the state’s median-priced, single-family home. The

higher the index number is, the more affordable the home.

An index of 211 means a family that earned the statewide median income of $53,200

had more than double the income needed to qualify for a loan to purchase the statewide

median priced home, at $121,242. That’s a 9.57 percent drop from the previous quarter.

Interest rates also dropped, from 5.31 percent in the third quarter to 5.07 percent in the

fourth quarter.

In the Huntsville market, which includes part of Morgan and Limestone counties, the

housing affordability index was even higher, at 224.9, compared with 211.1 in the third

quarter and 194.6 in the fourth quarter 2008. Last quarter’s index for the Huntsville area

reflects a median family income of $67,500 and a median home price of $144,433.

The national housing affordability index was 177.5 in the fourth quarter, compared with

168.6 during the third quarter.

Commercial crisis?

Concerns about the commercial real estate market continue to snowball. Sen.

Christopher Dodd, D-Conn., this week urged federal regulators to step up efforts to avert

a crisis.

A congressional panel released a report this month warning that $1.4 trillion in loans set

to expire during the next four years, at a time when many of these properties are “under

water,” meaning they are worth less – in some cases up to 40 percent less – than what is

owed on the loan. This could wreak havoc on the nation’s small- to mid-sized community

banks, which hold most of these loans.

If a commercial bomb drops, the results could be grim: Foreclosures on commercial

buildings and apartment complexes could leave employees without jobs and families

without homes, even though tenants have paid rent on time, the panel said.

But others think the bottom may have already been hit. An article on HousingWire points

to two months of rising commercial real estate prices, based on a Moody’s Investors

Service report. Moody’s says the 4.1 percent gain in prices in December was the largest

gain in nine years, and followed a 1 percent gain in November.

Seems nobody has enough Windex to wipe this crystal ball clear. Stay tuned

Tags: ,


Back to Blogging

The Davis team of Realty World South is back to the blogging world! We hope that you will follow us as we try to keep our blog up to date with the latest news in the North Alabama Real Estate Market, share stories of our time in the field, as well as keep you up to date with what is going on with our company. Please check out our website, www.huntsvillesold.com for great new properties! We are going to start by introducing a team member a day….we look forward to keeping you up to date with us and showing you the Real World or Real Estate!

Tags: , , , ,


Verizon Wireless comes to Huntsville
December 5, 2006, 8:31 am
Filed under: Uncategorized

Verizon Wireless Brings Wireless Broadband Network to Greater Huntsville, Alabama
Thursday November 30, 9:01 am ET

 

Customers across the Huntsville Metro Area Can Now Get High-Speed Wireless Internet and E-mail Services, and Download Video Clips and Songs to Handsets

 

HUNTSVILLE, Ala., Nov. 30 /PRNewswire/ — Verizon Wireless announced today it is bringing wide-area wireless broadband service to the Greater Huntsville area, giving local customers access to the latest high-speed business and entertainment services on their wireless phones, laptop computers and other wireless devices. Huntsville joins Birmingham and Mobile in the company’s coast-to-coast broadband network.

ADVERTISEMENT

if (window.yzq_a == null) document.write(”");

if (window.yzq_a)
{
yzq_a(’p', ‘P=336DU9htfJDkuBdvRUZoVAQ4GNaCgUV1gi0ADWCn&T=1f5of9r4l%2fX%3d1165328942%2fE%3d7811758%2fR%3dfin%2fK%3d5%2fV%3d1.1%2fW%3d8%2fY%3dYAHOO%2fF%3d805282070%2fH%3dY29icmFuZD0iPGEgaHJlZj1odHRwOi8vdXMucmQueWFob28uY29tL2ZpbmFuY2UvbmV3cy9wcm5ld3MvU0lHPTExMnNsZTkzby8qaHR0cDovL3d3dy5wcm5ld3N3aXJlLmNvbS95YWhvby8.PGltZyBib3JkZXI9MCBzcmM9aHR0cDovL3VzLmkxLnlpbWcuY29tL3VzLnlpbWcuY29tL2kvdXMvZmkvZ3IvcGFydG5lcl9sb2dvcy9wcm5ld3N3aXJlXzE3MHgzM19sb2dvLmdpZiBhbHQ9UFJfTmV3c3dpcmU.PC9hPiIgY2FjaGVoaW50PSI3ODExNzU4IiBjYWNoZWhpbnQ9Ijc4MTE3NTgi%2fS%3d1%2fJ%3d8F7C6DD8′);
yzq_a(’a', ‘&U=13954kfkm%2fN%3ddLB0AthtfGA-%2fC%3d456444.8372125.9222172.1383221%2fD%3dLREC%2fB%3d3541892′);
}

With this launch, Verizon Wireless customers in the metro Huntsville area are able to access the company’s two wireless broadband services – BroadbandAccess and V CAST – while traveling throughout the city.

BroadbandAccess is the company’s high-speed wireless broadband network geared toward mobile professionals and business customers. It provides average access speeds of 400-700 kilobits per second (kbps). The service gives customers the ability to connect to the Internet using a PC card that slides directly into most laptop computers and enables a download of a 1 Megabyte e- mail attachment (the equivalent of a small PowerPoint® presentation or a large PDF file) in about 20 seconds.

V CAST is a consumer-oriented multimedia service that offers music and video content on demand, including news, weather and sports updates, clips from popular TV programs, music videos, movie trailers, 3D games and more. With V CAST Music, customers can browse and download songs from the V CAST Music library directly onto their V CAST Music-enabled phone or Windows® XP- enabled PC. The V CAST Music library contains more than 1.5 million songs.

Both services are based on the company’s Evolution-Data Optimized (EV-DO) network technology.

"Huntsville is the perfect match for this service – a high-tech community that demands speed in communications. This expansion is part of our continuing focus on investing in our network reliability and providing innovative high- speed data services to our customers across the country and here in Alabama," said Jim McGean, president of Verizon Wireless’ Alabama / Georgia Region. "With BroadbandAccess, Huntsville-area mobile professionals and business customers will now be able to take their desktop experience with them, allowing them to wirelessly access their Microsoft Outlook® calendars, the Internet, e-mail and critical business information residing behind corporate firewalls. With V CAST, consumers now have access to the most comprehensive selection of downloadable music, high-quality videos and advanced gaming available."

In September, Gov. Bob Riley announced that Verizon Wireless is building a new, high-tech state headquarters facility in Huntsville, bringing up to 1,300 jobs and an investment of over $44 million to the area. The company’s new 152,389 square foot state headquarters is expected to be completed in late 2007. The company plans to break ground by year’s end, with hiring to begin next summer.

Coverage

Verizon Wireless’ BroadbandAccess coverage expansion delivers more than 665 square miles of coverage stretching from Decatur to Athens and Decatur through Huntsville north to the Tennessee State Line along Hwy 231/431 including Hazel Green. The east and west points of the coverage area extend from Madison, including the Huntsville Airport along I-565, Hwy 72 and County Line Road east to Owens Cross Road along Hwy 431 including the Hampton Cove area. Customers who travel outside a BroadbandAccess coverage area with an EV- DO device will switch seamlessly to Verizon Wireless’ existing NationalAccess network in which customers experience average data transmission speeds between 60 and 80 kbps, with bursts up to 144 kbps.

Verizon Wireless was the first national wireless provider to commercially launch a high-speed wireless broadband network in the United States. Verizon Wireless’ EV-DO network coverage area covers more than half of the nation’s population. Verizon Wireless has invested more than $160 million this year alone to expand and enhance its wireless network across Alabama and Georgia to stay ahead of the growing demand for its products and services.

BroadbandAccess

BroadbandAccess provides mobile workers full access to their corporate information as if they were attached to the information via a high-speed wired connection, but with the freedom of true mobility. Developed with a range of users in mind, the service enables large enterprises, small to medium-sized businesses and mobile professionals to conduct business anytime, anywhere in the BroadbandAccess coverage area via a secure, true high-speed data connection.

As an example of the productivity benefits the company’s wireless broadband provides to mobile and business professionals, construction supervisors can capture important details about building projects and wirelessly transmit the information to the contractor; food and beverage company representatives can re-order stock wirelessly while at the point of sale; and realtors can browse the latest Multiple Listing Service (MLS) listings from a client’s living room and manage other tasks via BroadbandAccess-powered PDAs or laptops.

V CAST

The company’s high-speed network also enables its V CAST multimedia service, which offers consumers the ability to download full-length songs right to Verizon Wireless phones or via PCs. Customers can download songs directly to their phone for $1.99 and receive two copies of each song: one for the phone and one to download onto their PC. Or they can purchase songs online for 99 cents each and download a copy onto their phone via a USB cable for free. To access V CAST video content and games, customers need a V CAST- enabled phone and a $15.00 monthly subscription added to their Verizon Wireless calling plan.

Pricing

For a limited time, Verizon Wireless customers with a new or existing voice plan can receive unlimited BroadbandAccess service for $59.99 monthly access for Internet browsing, e-mail and intranet access. A new two-year customer agreement is required. For non-voice customers, BroadbandAccess is available for $79.99 monthly access with a new one- or two-year customer agreement. The company’s BroadbandAccess service is also available as an integrated option on select notebook computers.

About Verizon Wireless

Verizon Wireless operates the nation’s most reliable wireless voice and data network, serving 57 million customers. The largest US wireless company and largest wireless data provider, based on revenues, Verizon Wireless is headquartered in Basking Ridge, N.J., with 60,000 employees nationwide. The company is a joint venture of Verizon Communications (NYSE: VZNews) and Vodafone (NYSE and LSE: VODNews News). Find more information on the Web at www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia.

 


Source: Verizon Wireless