IRS Warns Taxpayers to Beware of First-Time Homebuyer Credit Fraud

WASHINGTON — The Internal Revenue Service today announced its first successful prosecution related to fraud involving the first-time homebuyer credit and warned taxpayers to beware of this type of scheme.

On Thursday July 23, 2009, a Jacksonville, Fla.-tax preparer, James Otto Price III, pled guilty to falsely claiming the first-time homebuyer credit on a client’s federal tax return. Price faces the possibility of up to three years in jail, a fine of as much as $250,000, or both.

for the full story on the IRS credit fraud

TLC Casting Buyers and Sellers for Moving Up

TLC Casting Buyers and Sellers for Moving Up
Cable network, The Learning Channel (TLC), is currently casting for its hit series Moving Up, hosted by Doug Wilson. Producers are looking for buyers and sellers who are under contract and planning to move in June. Interested candidates must still occupy their current home. Buyers moving into a home that is already vacant are not eligible. Both residences must be within 45 minutes of Manhattan.

The series follows a chain of homeowners as they go through the renovation and/or redesign process in their new home. Moving Up offers the former homeowners the rare chance to visit their once beloved homes and see all of the new changes. Opinionated consumers who demonstrate compelling ideas to alter the house are preferred.

Contact Jodi Friedman at (212) 974-9050, ext. 125 or JFriedman@bbcnyproduction.com if you or someone you know would be a good fit for the show.

Thoughts on Home Staging

It is a quick, intensive house make over that creates a theater for the home buyer. Staiging is a hybrid of advertising and marketing, which carefully designs the house to appeal to the statistically probable buyer.
Stagers create a property to appeal to the buyers not how they live NOW but how they aspire to live.
Homes that have been staged get faster market attention, sell rapidly for a higher price, are more organized and make the moving process lerss stressful for the seller

BREAKING NEWS Home Buyers Tax Credit Bill

A bill just passed the senate that will be a great way for buyers to BUY NOW!


Here are some of the things that this bill will do:



Provide a direct tax credit to any one who purchases any home!

Amount of the tax credit would equal 10% of the purchase price or $15,000, whichever is less

Purchses must be made within one year of this legislation being enacted

This tax credit would not to be repaid unlike the current tax credit

Taxpayers would be able to claim the credit on their 2008 income tax return

This will only apply to the purchase of a principal residence

The Credit would be recaptured if the home sold within two years of purchase

This would sunset the current $7,500 housing tax credit on the date of enactment



Check with your preferred mortgage specialist to find out what information they have on this exciting possibility.



Will Keep you posted