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| Arthur Real Estate Services, LLC |
Chattanoooga Metro FHA Loan Limit (Hamilton, Dade, Walker, & Catoosa)=
$271,050 for single family dwellings. Source: https://entp.hud.gov/idapp/html/hicost1.cfm
$271,050 for single family dwellings. Source: https://entp.hud.gov/idapp/html/hicost1.cfm
Arthur Real Estate Services, LLC
P.O. Box 2252
Fort Oglethorpe, Georgia 30742
-Licensed in Georgia and Tennessee
P.O. Box 2252
Fort Oglethorpe, Georgia 30742
-Licensed in Georgia and Tennessee
For home search and other info.,
click the tabs below.
Bringing the Dream of Homeownership Within Reach
As part of its plan to stimulate the U.S. housing market and address the economic
challenges facing our nation, Congress has passed new legislation that:
* Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers
until April 30, 2010.
* Expands the credit to grant up to $6,500 credit to current home owners purchasing a new
or existing home between November 7, 2009 and April 30, 2010.
Here is more information about how the Extended Home Buyer Tax Credit can help
prospective home buyers become part of the American dream. If you have specific
questions or need additional information, please contact a tax professional or the Internal
Revenue Service at 800-829-1040.
Who Qualifies for the Extended Credit?
* First-time home buyers who purchase homes between November 7, 2009 and April 30,
2010.
* Current home owners purchasing a home between November 7, 2009 and April 30, 2010,
who have used the home being sold or vacated as a principal residence for five consecutive
years within the last eight.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned
a residence during the three years prior to the purchase.
If you or your client purchased a home between January 1, 2009 and November 6, 2009,
please see: 2009 First-Time Home Buyer Tax Credit.
Which Properties Are Eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including:
single-family homes, condos, townhomes, and co-ops.
How Much Is Available?
The maximum allowable credit for first-time home buyers is $8,000.
The maximum allowable credit for current homeowners is $6,500.
How is a Buyer's Credit Amount Determined?
Each home buyer’s tax credit is determined by tow additional factors:
1. The price of the home.
2. The buyer's income.
Price
Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes
purchased for $800,000 or less.
Buyer Income
Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single
buyers with incomes up to $125,000 and married couples with incomes up to $225,000—
may receive the maximum tax credit.
These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If
you or your client purchased a home between January 1, 2009 and November 6, 2009,
please see 2009 First-Time Home Buyer Tax Credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $125,000 and $145,000 for single
buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of
the tax credit decreases as his/her income approaches the maximum limit. Home buyers
earning more than the maximum qualifying income—over $145,000 for singles and over
$245,000 for couples are not eligible for the credit.
Can a Buyer Still Qualify If He/She Closes After April 30, 2010?
Under the Extended Home Buyer Tax Credit, as long as a written binding contract to
purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three
years or more. However, if the property is sold during this three-year period, the full amount
credit will be recouped on the sale.
Reprinted from Realtor® Magazine Online {November, 2009} with permission of the NATIONAL
ASSOCIATION of REALTORS®. Copyright {2009}. All rights reserved.
As part of its plan to stimulate the U.S. housing market and address the economic
challenges facing our nation, Congress has passed new legislation that:
* Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers
until April 30, 2010.
* Expands the credit to grant up to $6,500 credit to current home owners purchasing a new
or existing home between November 7, 2009 and April 30, 2010.
Here is more information about how the Extended Home Buyer Tax Credit can help
prospective home buyers become part of the American dream. If you have specific
questions or need additional information, please contact a tax professional or the Internal
Revenue Service at 800-829-1040.
Who Qualifies for the Extended Credit?
* First-time home buyers who purchase homes between November 7, 2009 and April 30,
2010.
* Current home owners purchasing a home between November 7, 2009 and April 30, 2010,
who have used the home being sold or vacated as a principal residence for five consecutive
years within the last eight.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned
a residence during the three years prior to the purchase.
If you or your client purchased a home between January 1, 2009 and November 6, 2009,
please see: 2009 First-Time Home Buyer Tax Credit.
Which Properties Are Eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including:
single-family homes, condos, townhomes, and co-ops.
How Much Is Available?
The maximum allowable credit for first-time home buyers is $8,000.
The maximum allowable credit for current homeowners is $6,500.
How is a Buyer's Credit Amount Determined?
Each home buyer’s tax credit is determined by tow additional factors:
1. The price of the home.
2. The buyer's income.
Price
Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes
purchased for $800,000 or less.
Buyer Income
Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single
buyers with incomes up to $125,000 and married couples with incomes up to $225,000—
may receive the maximum tax credit.
These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If
you or your client purchased a home between January 1, 2009 and November 6, 2009,
please see 2009 First-Time Home Buyer Tax Credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $125,000 and $145,000 for single
buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of
the tax credit decreases as his/her income approaches the maximum limit. Home buyers
earning more than the maximum qualifying income—over $145,000 for singles and over
$245,000 for couples are not eligible for the credit.
Can a Buyer Still Qualify If He/She Closes After April 30, 2010?
Under the Extended Home Buyer Tax Credit, as long as a written binding contract to
purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three
years or more. However, if the property is sold during this three-year period, the full amount
credit will be recouped on the sale.
Reprinted from Realtor® Magazine Online {November, 2009} with permission of the NATIONAL
ASSOCIATION of REALTORS®. Copyright {2009}. All rights reserved.
Realtors® See a Decade of Dramatic Developments
WASHINGTON, December 30, 2009
At the beginning of the 21st century, most home buyers had never viewed a home online;
the three top home sale marketing methods were yard signs, newspaper ads and open
houses; and nearly nine out of 10 buyers financed their purchase with a fixed-rate, 30-year
mortgage. What a difference a decade makes.
“The real estate industry has seen tremendous change and evolution over the past
decade,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in
Tucson, Ariz. “As the first, best source for real estate information, Realtors® have not only
anticipated and adapted to the evolving needs of their clients and customers, but also have
influenced industry trends and innovations that will carry us into the future.”
In 1999, buyers who went online in search for a home were in the minority – only 37 percent
of buyers used the Internet in their home search, according to data from the NAR Profile of
Home Buyers and Sellers. Today, 90 percent of buyers are searching online, and the real
estate industry has responded. Sites like REALTOR.com, which attracts nearly 12 million
total visits every month, have evolved to gives today’s buyers what they want – not just
property listings, but multiple photos, online videos, mapping features, and comprehensive
neighborhood information, as well.
Median home values over the past decade have increased more than 25 percent, from
$137,600 in November 1999 to $172,600 in November 2009 (the most recent existing-home
data available). Fewer people are buying detached, single family homes – 82 percent in
1999 compared to 78 percent in 2009 – but more people are buying homes in suburban
neighborhoods – 46 percent in 1999 compared to 54 percent today.
Buyers themselves have also changed. A smaller proportion of married couples are buying
homes these days; while married couples comprised 68 percent of all home purchases at
the beginning of this century, they represent 60 percent of all buyers today. Single men and
women have made up the difference – single men purchased 10 percent of all homes last
year, compared to only 7 percent 10 years ago. Single women now represent more than
one-fifth of all home buyers – 21 percent, up from 15 percent in 1999.
Other things haven’t changed. The median age for home buyers last year was 39, just as it
was in 1999. Neighborhood quality, affordability, and convenience to work and school have
consistently been top priorities for both past and present buyers. And eight out of 10
recently surveyed consumers believe that owning a home is an investment in their future.
Reprinted from Realtor® Magazine Online {December, 2009} with permission of the NATIONAL
ASSOCIATION of REALTORS®. Copyright {2009}. All rights reserved.
WASHINGTON, December 30, 2009
At the beginning of the 21st century, most home buyers had never viewed a home online;
the three top home sale marketing methods were yard signs, newspaper ads and open
houses; and nearly nine out of 10 buyers financed their purchase with a fixed-rate, 30-year
mortgage. What a difference a decade makes.
“The real estate industry has seen tremendous change and evolution over the past
decade,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in
Tucson, Ariz. “As the first, best source for real estate information, Realtors® have not only
anticipated and adapted to the evolving needs of their clients and customers, but also have
influenced industry trends and innovations that will carry us into the future.”
In 1999, buyers who went online in search for a home were in the minority – only 37 percent
of buyers used the Internet in their home search, according to data from the NAR Profile of
Home Buyers and Sellers. Today, 90 percent of buyers are searching online, and the real
estate industry has responded. Sites like REALTOR.com, which attracts nearly 12 million
total visits every month, have evolved to gives today’s buyers what they want – not just
property listings, but multiple photos, online videos, mapping features, and comprehensive
neighborhood information, as well.
Median home values over the past decade have increased more than 25 percent, from
$137,600 in November 1999 to $172,600 in November 2009 (the most recent existing-home
data available). Fewer people are buying detached, single family homes – 82 percent in
1999 compared to 78 percent in 2009 – but more people are buying homes in suburban
neighborhoods – 46 percent in 1999 compared to 54 percent today.
Buyers themselves have also changed. A smaller proportion of married couples are buying
homes these days; while married couples comprised 68 percent of all home purchases at
the beginning of this century, they represent 60 percent of all buyers today. Single men and
women have made up the difference – single men purchased 10 percent of all homes last
year, compared to only 7 percent 10 years ago. Single women now represent more than
one-fifth of all home buyers – 21 percent, up from 15 percent in 1999.
Other things haven’t changed. The median age for home buyers last year was 39, just as it
was in 1999. Neighborhood quality, affordability, and convenience to work and school have
consistently been top priorities for both past and present buyers. And eight out of 10
recently surveyed consumers believe that owning a home is an investment in their future.
Reprinted from Realtor® Magazine Online {December, 2009} with permission of the NATIONAL
ASSOCIATION of REALTORS®. Copyright {2009}. All rights reserved.