Homebuyer Tax Credits extended to current homeowners

Posted on November 10, 2009 by timpareti
President Obama Friday signed a bill that extended  the $8,000 First Time Homebuyer Tax Credit and Advance Loan Program to April 30, 2010. This is attractive for all homebuyers. See below:
Feature
Original Program
Extension
Deadline
Must fund by Nov. 30, 2009
The measure is written differently so that a sales contract must be in place by April 30, 2010 – but homeowners have an additional 60 days to close.
 
Dollar Amount and Eligibility
Up to $8,000 for first-time home buyers (or 10 percent of the purchase price of the residence) if purchased Jan. 1 – Dec. 1, 2009
 
A FTHB was defined as someone who had not owned a home during the previous three years
Up to $8,000 for first-time home buyers

– OR –

 
$6,500 for current homeowners who have lived in their current residence for 5 consecutive years and are purchasing their next property
 
Income Cap
$75,000 (individual)
$150,000 (married couples)
 
$125,000 (individual)
$225,000 (married couples)
 
Increases in the cap make the measure available to a broader group of customers.
Purchase Price
N/A
$800,000 or less
Repayment requirement
Must live in home for 3 years or be required to repay the credit
Same
 
 
 
 
 
      Closed Sales 
    Stat Street #   Str Name Sfx Unit # City   LP/SP     # Rms
    CLSD 1819   Lemar Ave   Evanston   $43,000  (F)     5
    CLSD 3217   Lake Ave   Wilmette   $45,000      
    CLSD 2106   Keeney     Evanston   $92,000  (F)     5
    CLSD 314   Adams St   Glencoe   $183,000     6
    CLSD 932   Dodge Ave   Evanston   $185,000     7
    CLSD 835   Judson Ave 406 Evanston   $197,500     6
    CLSD 1211   Ridgewood Rd   Highland Park   $200,000     6
    CLSD 116   Ridge Ave 1N Evanston   $232,000     7
    CLSD 500   Sheridan Rd 1E Evanston   $240,000     6
    CLSD 940   Augusta Way 314 Highland Park   $275,000     4
    CLSD 636   Dodge Ave   Evanston   $300,000     6
    CLSD 3509   Central St   Evanston   $305,000     6
    CLSD 2720   Central St 4A Evanston   $312,500     6
    CLSD 935   Westmoor     Winnetka   $325,000     6
    CLSD 1248   Lynn Ter   Highland Park   $380,000     9
    CLSD 602   Hinman Ave 3N Evanston   $390,000     6
    CLSD 871   Longwood Dr   Lake Forest   $425,000     7
    CLSD 1960   Berkeley Rd   Highland Park   $450,000     8
    CLSD 681   Highview Ter   Lake Forest   $460,000     7
    CLSD 1122   Brummel St   Evanston   $475,000     8
    CLSD 333   Wesley Ave   Evanston   $484,500     9
    CLSD 200   Lakewood Pl   Highland Park   $485,000  (F)     8
    CLSD 755   Northmoor Rd   Lake Forest   $485,000     7
    CLSD 1180   Hilary Ln   Highland Park   $535,000  (S)     10
    CLSD 2148   Beechwood Ave   Wilmette   $542,000  (S)     6
    CLSD 2215   Lincolnwood Dr   Evanston   $590,000     7
    CLSD 801   15th St   Wilmette   $613,000     7
    CLSD 1016   Hibbard Rd   Wilmette   $680,000  (S)     10
    CLSD 206   Green Bay Rd   Winnetka   $700,000     7
    CLSD 2015   Thornwood Ave   Wilmette   $870,000     8
    CLSD 1064   Sheridan Rd   Wilmette   $875,000     12
    CLSD 836   Sheridan Rd   Wilmette   $1,010,000     11
    CLSD 2810   Sheridan Rd   Evanston   $1,041,685     11
    CLSD 693   Greenwood Ave   Glencoe   $1,095,000     13
    CLSD 164   Spring Ln   Winnetka   $1,095,000     9
    CLSD 2022   Lincoln St   Evanston   $1,115,000     10
    CLSD 1000   Chestnut Ave   Wilmette   $1,125,000     12
    CLSD 300   Sunset Rd   Winnetka   $1,160,000     11
    CLSD 300   Sunset Rd   Winnetka   $1,160,000     11
    CLSD 1640   Maple Ave 1606 Evanston   $1,300,000     7
    CLSD 384   Hawthorn Ln   Winnetka   $1,300,000  (F)     13
    CLSD 640   Waukegan Rd   Lake Forest   $2,060,000     11
 
Prepared By: Tim Pareti, ABR - Prudential Rubloff 11/10/2009 02:18 PM

 

 

Pending Sales 

    Stat Street #   Str Name Sfx Unit # City   LP/SP     # Rms
    PEND 2311   Lake St   Evanston   $82,070     5
    PEND 1941   Grey Ave   Evanston   $99,900     0
    PEND 435   Ridge Rd 102 Wilmette   $149,000     4
    PEND 339   Custer Ave 1 Evanston   $159,000     5
    PEND 503   Sheridan Rd A3 Evanston   $164,500     4
    PEND 712   Hartrey Ave   Evanston   $199,000     7
    PEND 1500   Hinman Ave 102 Evanston   $239,000     5
    PEND 468   Naida Ter   Highland Park   $250,000     5
    PEND 847   Judson Ave 3 Evanston   $269,900     7
    PEND 887   Barberry Rd   Highland Park   $299,999     7
    PEND 601   Linden Pl 124 Evanston   $349,000     5
    PEND 1889   Maple Ave S4 Evanston   $369,900     7
    PEND 2665   Crawford     Evanston   $385,000     7
    PEND 680   Strawberry Hill Dr   Glencoe   $495,000     8
    PEND 1708   Harrison St   Evanston   $499,000     7
    PEND 2103   Lincoln St   Evanston   $520,000     8
    PEND 3215   Illinois Rd   Wilmette   $525,000     10
    PEND 491   Drexel Ave   Glencoe   $529,000     9
    PEND 1401   Lake St   Evanston   $559,000     9
    PEND 124   Sixteenth St   Wilmette   $559,000     7
    PEND 564   Ryan Pl   Lake Forest   $589,000     8
    PEND 237   Elder Ln   Highland Park   $599,000     7
    PEND 1937   Washington St   Wilmette   $599,000     8
    PEND 1420   Sheridan Rd 6H Wilmette   $615,000     6
    PEND 1351   Scott Ave   Winnetka   $619,000     8
    PEND 1939   Sherman Ave 2E Evanston   $650,000     6
    PEND 199   Wentworth Ave   Glencoe   $699,500     9
    PEND 431   8th St   Wilmette   $849,000     11
    PEND 1321   Hackberry Ln   Winnetka   $849,000     8
    PEND 1303   Holly Ln   Winnetka   $975,000     9
    PEND 46   Scott Loop     Highland Park   $995,000     13
    PEND 1011   Oak     Winnetka   $1,099,999     10
    PEND 1140   Ash Lawn Dr   Lake Forest   $1,199,000     14
    PEND 900   Forest Glen West     Winnetka   $1,339,000     12
    PEND 555   Walnut St   Winnetka   $1,350,000     10
    PEND 191   Apple Tree Rd   Winnetka   $1,400,000     12
    PEND 465   Adams Ave   Glencoe   $1,450,000     11
    PEND 1360   Lakewood Dr   Lake Forest   $1,495,000     13
                           
                           
 
Prepared By: Tim Pareti, ABR - Prudential Rubloff 11/10/2009 02:27 PM

 

Based on information from Midwest Real Estate Data for the period Nov. 2 through Nov. 10, 2009. Listing and solds by various participants of MRED. For more real estate information, please call me at 847-512-2724 or email me at TPareti@rubloff.com


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