The hardest part of blogging is to decide what blog about! It is my hope that this information will be on the Milton area as well as real estate.
It will also be great if you guys would ask questions to help keep the dialog alive and the information relevant to what is on the minds of the readers.
One of the first topics that needs to be discussed because it is of major importance for any residential residential buyer. Potential home buyers who delay have a lot to lose! First-time home buyer and move-up tax credits worth $8,000 and $6,500, respectively, expire April 30. Buyers who qualify get a dollar-for-dollar reduction in taxes or a cash payment if they don’t pay enough taxes to cover the credit. Don’t wait — call us to get more details on this very important program. I don’t see this tax credit being extended again, so HURRY!
Buying a home in the flood area? Too bad — because right now you can not get flood insurance! The National Flood Insurance Program expired at the end of February and is out of money.
Congress was expected to renew the program, but the Senate, led by Sen. Jim Bunning, (R- Ken.) has blocked the renewal because passage adds to the deficit.
In places like Milton, the lapse has put home sales in jeopardy because no new policies are authorized and without flood insurance, sales can’t close. Fortunately, most closings are at the end of the month, so Realtors hope the problem will be resolved by then. Stay tuned!