The Benn Pacific Blog

Sort by Month: March 2009

Tuesday, March 31, 2009

Glass Half Full

I heard a quote recently that was attributed to Sam Zell…perhaps the greatest real estate investor in modern times.  He is credited with saying, “Dear God please give me one more recession, I promise I won’t waste it this time.” 

I think that adequately sums opportunities that abound in a market like this when combined with the correct outlook and attitude.  I don’t think we can argue that the US financial system, despite recent setbacks, is still the best system built yet, and the ingenuity and acumen of American business remains intact.

Couple that with an increasing population base (unlike Japan), a more global economy with more travel access, a finite supply of land in Hawaii and a potentially inflationary market in the near future and one might start to recognize that while we cannot call a bottom to this market…it may not be such a bad time to get in!

Posted by Trevor Benn on March 31, 2009 at 12:03 PM
Real Estate News • (1) CommentsPermalink

Friday, March 06, 2009

$8,000 FOR FIRST TIME HOMEBUYERS

Read more about President Obama’s “First-Time Homebuyer Tax Credit.”  Take advantage of this opportunity before it sunsets on December 1, 2009!

Click Here.

Here’s the basic qualifications:
1)  You must NOT have owned another primary residence in the past 3 years
2)  You must make under $75,000 if single, or $150,000 if married
3)  Must buy (closed transaction) between Jan 1, 2009 and December 1, 2009

Cool features:
1)  You dont have to repay this credit…not like the previous credit from 2008 which acted like an interest-free loan (except in the case described in item #1 below).
2)  The $8,000 credit is a dollar-for-dollar credit on your taxes.  So if you owe $6,000 and get the credit you will get a refund check for $2,000

Not-so-cool feature:
1)  If you sell your home within the first three years the entire amount of the credit will be recaptured.

**DISCLAIMER:  Benn Pacific Group and its agents, employees and affiliates are not CPA’s.  Consult your tax professional to examine if this credit would apply to you.**

 

Posted by Trevor Benn on March 06, 2009 at 01:16 PM
Real Estate News • (4) CommentsPermalink
Page 1 of 1

Buying a Home

For many, a real estate purchase may be the biggest purchase of their lives. As a result, the buying process can seem daunting and difficult…

Read our Steps to Buying

Selling a Home

Selling can sometimes seem like an overwhelming process, but with our help… it doesn’t have to be. With our expertise and strategies…

Read our Steps to Selling