Hello all you first time home buyers in Viroqua, WI and across Vernon County. This is what a refund check can look like if youbuy a first home before December! It's money you can spend on the home, put in the bank and save it, or pay down the mortgage. If you are a first time home-buyer, give mecall to find out what homes are available that will meet your needs and qualify for this First Time Home Buyer tax credit.
This is an actual check from one of my First Time Buyers who bought a home last month, and immediately filed his 2008 tax return - which he had already filed an extension for - and this week received the above check !
... before his home purchase, his return was going to give him a refund of approximately $4,000 !!!! ... as you can see, he qualified for the tax credit, and received $8,000 additional dollars from the government for buying his home.
@@@ FOR FURTHER INFORMATION - BE SURE TO CONSULT YOUR ACCOUNTANT TO SEE IF YOU CAN RECEIVE THIS YOURSELF @@@
Per the IRS.gov website, you may qualify to receive this credit if you meet the following qualifications:
"... qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.
The amount of the credit begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.
For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase."
The credit itself:
- Applies to purchases that close after April 8, 2008, and before Dec. 1, 2009.
- Applies only to homes used as a taxpayer's principal residence.
- Reduces a taxpayer's tax bill or increases his or her refund, dollar for dollar.
- Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.
So if you were considering buying a home this year - be sure to talk to your accountant as you may also qualify to get $8,000 extra dollars for buying your first home !
ALSO: Be sure to check out a post from respected Loan Officer Jeff Belonger explaining how you may be able to receive an 'up front loan' for this credit to use towards closing costs or additional downpayment over your mandatory 3.5% payment on your FHA loan !
@@@PLEASE NOTE: ALL INFORMATION ABOVE DEEMED RELIABLE PER THE IRS.GOV WEBSITE, HOWEVER IS SUBJECT TO CHANGE AT ANY POINT ON ANY DAY ! - CONSULT YOUR TAX ACCOUNTANT BEFORE EXPECTING ANY PORTION OF THIS CREDIT.
@@@@ UPDATED: BELOW IS THE FORM NEEDED TO FILE FOR THIS CREDIT IF YOU QUALIFY - YOUR ACCOUNTANT SHOULD HAVE IT AND WALK YOU THOUGH IT ! GOOD LUCK !





Are you searching for homes to buy in Viroqua or Vernon County Wisconsin
We've been on the market almost a year and only had one offer! Last month there were 17 showing and we wonder where all those buyers went? Could we have some more ads run? It looks like all the buyers who have looked at our house are buying other houses and not our house! We want more newspaper ads please... so they might buy our house soon!
We agents all have them & it seems like they are also always, always empty! No matter how many flyers you placed inside that info box at the time of installation or how many extra flyers are left behind inside the home for replenishments, it's never enough. How come they routinely run out on Sunday mornings, on Holidays like today, or when you are way too busy to immediately, drop everything and come' a running?
BEDROOM 1 BATH HOME OVER 4 ACRES. HANDY MAN SPECIAL WITH A 30 X 30 POLE BUILDING FOR SHOP OR STORAGE. ROOM SIZES AND SQUARE FOOTAGE ARE APPROXIMATE. NEEDS WORK.
ETC.
This little House on the Prairie... is all tucked away nicely and privately at the end of the Lane. It's the perfect place to center yourself; it's a calm, tranquil place of beauty and nature hidden right here in Southwestern Wisconsin.
With a bit of luck and some time, our Vernon County real estate market appears to have hopefully weathered the worst of the housing storm. It was during the past 6-month, that many buyers were noticeably standing around on the sidelines waiting to hear if it would get worse. Then others were waiting to see when and if the housing downturn would end before they would make a move.
If there is one guaranteed thing about selling real estate, it is that every day is guaranteed to be different from the past day. For example, a couple walks into my office a few weeks ago. They express a desire to own some farmland. Upon questioning them, I was able to learn they wanted an investment and felt the rate of return they could earn renting cropland to a farmer was profitable. Gently, I asked how they determined this to be so? Typically buyer will share much, but these two weren't willing to discuss much and wished only to take a tour out to the countryside and see some corn-ground. Given that they knew exactly what they were in search of; I did ask a few test questions. Like do you know how many bushels of corn are typical in this area per acre? I went on further to explain that maybe 125 bushel was typical, and this particular ground which they protested as to pricey a price... yields around 250 bushels per acre. While this other one over here, well, was very low and one most likely couldn't feed a goat on that one, which shall we see?