At present, we are licensed to sell Real Estate exclusively in the state of Illinois.   
 
 

What's New ???

The homebuyer tax credit is one of 10 key provisions of the American Recovery and Reinvestment Act signed by President Obama into law on Feb. 17, 2009.

The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.  The credit does not require repayment.  Most of the mechanics of the credit will be the same as under the 2008 rules:  the credit will be claimed on a tax return to reduce the purchaser's income tax liability.  If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

Your Homework

If you are preparing to get into the housing market, a good first step is getting a mortgage approval in place.  This helps you in 2 ways: 1. It twlls you what your price range is to narrow your search.  2. It will uncover any unknown problems with your credit and you can correct them promptly.

Illinois Legislative News  March 2009

There are a few bills before the Illinois House which you may want to contact your congress person and discuss their support.

House Bill 2698 would provide a 1 percent income tax credit up to $5000 based upon the purchase price of a home.  The tax credit would cover closing costs and other upfront expenses for homes purchased during taxable years 2009, 2010 and 2011.  The credit would be limited to the principal place of residence to prevent abuse by individuals who purchase and flip multiple homes for profit. 

House Bill 2699 would direct the Illinois treasurer to deposit state funds in banks and financial institutions that invest a set percentage of their assets into home loans.  

House Bill 2700 would bar tax assesment increases on land acquired for residential development before houses are built and occupied. 

House Bill 458 would prevent the assessed values of newly constructed homes from increasing until the structure is actually completed or occupied.