Tax Credit Deadline Extended

CAN YOU STILL GET YOUR $8,000?

Washington, D.C.
July 01, 2010

The National Association of Realtors® today commended Congress for timely passage of two bills to extend the home buyer tax credit closing deadline and reauthorize the National Flood Insurance Program. Both bills, strongly supported by NAR, had cleared the House earlier and were passed by the Senate last night. They now head to the president for his signature.

The tax credit closing deadline and the NFIP reauthorization were extended to September 30. NAR worked closely with congressional leaders on both sides of the aisle to enact these important pieces of legislation. Extending the tax credit closing and flood insurance deadlines will help provide additional stability to real estate markets across the nation, NAR said.

“What a great way to begin celebrating our nation’s most patriotic holiday by opening the door to the American dream of homeownership to thousands of home buyers who would have been shut out of the homes of their dreams through no fault of their own,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox Real Estate in Tucson, Ariz.

“We know that up to 180,000 home buyers eligible for the tax credit are rejoicing this morning. And we all thank both houses of Congress for their work to ensure passage of both bills,” Golder said. She singled out Senate Majority Leader Harry Reid (D-Nev.), Senate Minority Leader Mitch McConnell (R-Ky.), Senate Banking Committee Chairman Christopher J. Dodd (D-Conn.), Senator Johnny Isakson (R-Ga.), House Majority Leader Steny Hoyer (D-Md.), Congresswoman Shelley Berkley (D-Nev.) and Congressman Joe Courtney (D-Conn.) for their efforts to extend the tax credit closing deadline.

The passage of H.R. 5623, the Homebuyer Assistance and Improvement Act, applies the homebuyer tax credit closing deadline extension only to homebuyers who have ratified contracts in place as of April 30, 2010, but could not close before June 30. The legislation is designed to create a seamless extension of the new closing deadline for eligible transactions to September 30. There will be no gap between June 30 and the date the president signs the bill into law.

Article Provided By: Realtor.org

Melissa Simms
RE/MAX Associates
MelissaSimms@remax.net

Must Read Rules if You're Buying a Home.....

THE 10 COMMANDMENTS OF REAL ESTATE
When Applying For a Mortgage


Compliments Of:
Bev Leonhardt, Senior Loan Officer
American Mortgage Service Company


Thinking of buying that new refrigerator for the home you are purchasing?
Considering opening that 0% interest credit card at Best Buy?
THINK AGAIN.....otherwise you may not get that home you've written a contract on.

1. Thou shalt not change jobs, become self-employed or quit your job.

2. Thou shalt not buy a car, truck or van (or you may be living in it)!!

3. Thou shalt not use credit cards excessively or let current accounts fall behind.

4. Thou shalt not spend money you have set aside for closing.

5. Thou shalt not omit debts or liabilities from your loan application.

6. Thou shalt not buy furniture.

7. Thou shalt not originate any inquiries into your credit.

8. Thou shalt not make large deposits without checking with your loan officer.

9. Thou shalt not change bank accounts.

10. Thou shalt not co-sign a loan for anyone.


Melissa Simms
RE/MAX Associates
Louisville, Kentucky
MelissaSimms@remax.net

Pending Home Sales Rise for 3rd Straight Month

PENDING HOME SALES ON AN UPSWING

May 4, 2010----Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1 percent above March 2009 when it was 85.0; this follows an 8.3 percent increase in February. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, said favorable affordability conditions have been working with the tax credit. “Clearly the home buyer tax credit has helped stabilize the market. In the months immediately following the expiration of the tax credit, we expect measurably lower sales,” he said. “Later in the second half of the year, and into 2011, home sales will likely become self-sustaining if the economy can add jobs at a respectable pace, and from a return of buyer demand as they see home values stabilizing.”

The PHSI in the Northeast declined 3.3 percent to 75.1 in March but remains 27.2 percent higher than March 2009. In the Midwest the index increased 1.2 percent to 98.9 and is 18.5 percent above a year ago. Pending home sales in the South jumped 12.7 percent to an index of 121.2, which is 28.3 percent higher than March 2009. In the West the index rose 1.9 percent to 99.9 and is 8.8 percent above a year ago.

Read More

Written By: Walter Molony, Washington
Date: May 4, 2010
Article & Video Courtesy of: National Association of Realtors

Melissa's Favorite Derby Pie

Derby Pie

You might be overstuffed of Derby pie if you live in Louisville, but for those that may have watched the Kentucky Derby on TV and still think there is no problem celebrating with a wonderful dessert, then try this recipe. You will love it!

Ingredients:
1 cup light corn syrup
1 cup white sugar
1/2 cup butter, melted
1/4 teaspoon salt
4 eggs
2 tablespoon bourbon
1 teaspoon vanilla
1/2 cup semi-sweet chocolate chips
1 cup chopped pecans
1 9" deep dish pie crust (frozen or refrigerated)

Directions:
1. Pre-heat oven to 325 degrees.
2. Lay pie crust in bottom of pie dish.
3. In a saucepan, combine sugar, corn syrup, and butter. Cook over medium heat stirring constantly until butter melts & sugar dissolves. Remove from heat.
4. In a large bowl, mix eggs, bourbon, vanilla, and salt. Mix well.
5. Slowly mix sugar mixture into egg mixture & stir constantly.
6. Stir in chocolate chips & pecans. Pour entire mixture into pie crust.
7. Cook for 50 minutes or until pie is set and a golden brown.
8. Let it cool on a wire rack.


*Hint: Put a non-stick cookie sheet under the pie to keep droppings from burning in your oven.



Serve it warm with ice cream , serve it at room temperature....

Just Enjoy!!!

341 Piatt Place #104--Listed & Sold in 2 Days!

Listed & Sold in 2 Days!!

341 Piatt Place- Unit #104
$118,000
Dorsey Hills Community


First Floor Unit w/ New Carpet & New Paint!
Approx 1074 sq ft. 2 Bedroom. 2 Full Bath Unit.




Interested in a free comparative market analysis on your home or condo?
Don't worry, there's no cost or obligation to list.

Call Me!
Melissa Simms
502-315-1561
MelissaSimms@remax.net

Is Your Home Built Prior to 1978?

PLANNING ON REMODELING YOUR OLDER HOME?

THIS NEW LAW WILL AFFECT YOU......

New EPA Lead Certification Rule

As of April 22, 2010 the EPA will require individuals conducting lead-based paint activities (abatement, inspection, and risk assessment) in target housing and child-occupied facilities to be trained and certified. This new rule will affect anyone that owns a home built prior to 1978. All remodeling and repairs done in homes where lead based paint is present must now be done by certified contractors.

Learn more by visiting: http://www.epa.gov/lead


Are you concerned about lead paint and how it might affect your family?

Lead from chipping or peeling paint can mix with dust and soil in and around the home making it available for young children to ingest during normal hand-to-mouth play. In addition to chipping and pealing lead paint being a hazard, a freshly remodeled home can also be a danger. In the remodeling process lead dust and lead chips can mix with dust and soil from scraping and sanding old painted surfaces.

Lead paint in home building was not regulated until 1978, so most houses built before 1978 contain some lead-based paint. The older the house the greater the risk is for having lead contamination. Lead-based paint is not dangerous if it is properly cared for.

Wouldn't You Like to Live Here?

For Sale!----SOLD

10711 McMeekin Lane Unit 206
*Lowest Price in Dorsey Hills*
$115,000

• NEW CARPET, NEW PAINT!
  
• 2 Bedrooms & 2 Full Bath Condo w/approx 1100 sq ft
  
• Conveniently Located near Shelbyville Rd & Hurstbourne Ln
• 2nd Floor Unit features Open Floor Plan w/Vaulted Ceilings & Gas Fireplace
• Relax on the Private Balcony that backs up to trees & grassy area
• Kitchen features NEW dishwasher, breakfast bar, & white cabinetry that opens up to Large Great Room & Dining Area
• Master Suite w/Private Bath & Huge Walk-in Closet
• Maintenance Fee Includes: Trash, Sewer, Water, General Maintenance, Snow Removal, Landscaping, Clubhouse, Pool, Exercise Room, Tennis Court, Sauna
• Secure Building w/Intercom System
  

If you are a First Time Buyer or Empty Nester, this home is perfect! Don't worry about exterior maintenance....relax at the pool....enjoy weekends without yard work...exercise in the gym....or rent the clubhouse for parties!

Contact Me Today for a Showing!

Melissa Simms
MelissaSimms@remax.net
502-386-8739

Sold! 421 Downes Lane

SOLD!

421 Downes Lane
MacBrae Village
3 Bedrooms/2 Full Baths

Click Here for a Full Tour

This home is sold, but I'd love to help you find another.

Contact me....
MelissaSimms@remax.net
RE/MAX Associates