Gayle Trainor
Associate Broker, QSC 719-499-5289
Gayle Trainor, Associate Broker with The Herman Group Real Estate prides itself on supporting those looking to buy or sell property.
Below you will find helpful resources that will help you on your journey.
If you have any questions, feel free to contact Gayle @ 719-499-5289 for a no obligation consultation. We are here to support you!
Government Agencies
Colorado Division of Real Estate
www.dora.state.co.us/real-estate
Learn about local regulations, housing trends, and state resources
City of Colorado Springs
www.springsgov.com
The official website for the City of Colorado Springs
Colorado Springs Chamber of Commerce
www.coloradospringschamber.org/
Known for competitive rates and creative solutions
Federal Housing Tax Credit
www.federalhousingtaxcredit.com
More info on the $8000 tax credit
Lenders
Lincoln Mortgage Inc
http://www.lincolnmortgageinc.com/
Get pre approved or just find out what your options are
Known for competitive rates and creative solutions
Schools
Colorado springs Schools
www.greatschools.net/city/Colorado_Springs/CO
Find info on top rated schools
Events and Entertainment
www.coloradosprings.com/
Your source for events, restaurants, movies, etc.
www.csindy.com
Local what's happening guide
www.colorado.com/Coloradosprings.aspx
Official site of Colorado Tourism
www.gazette.com/
Colorado Springs Daily Newspaper
Community
http://www.coloradospringschamber.org/visitor
Colorado Springs Chamber of Commerce
Contact me for more details!
Gayle Trainor
Associate Broker, QSC
The Herman Group
Real Estate
4065 Sinton Road
Colorado Springs CO 80907
Cell 719-499-5289
Fax 719-593-0835
Email: gayle@gayletrainor.com
Click here to find all the local golf courses
A Good Thing to Know:
Bringing the Dream of Homeownership Within Reach
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:
- Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
- Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.
Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream. If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.
Who Qualifies for the Extended Credit?
- First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
- Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see: 2009 First-Time Home Buyer Tax Credit.
Which Properties Are Eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Is Available?
The maximum allowable credit for first-time home buyers is $8,000.
The maximum allowable credit for current homeowners is $6,500.
How is a Buyer's Credit Amount Determined?
Each home buyer’s tax credit is determined by two additional factors:
- The price of the home.
- The buyer's income.
Price
Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.
Buyer Income
Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.
These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see 2009 First-Time Home Buyer Tax Credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.
Can a Buyer Still Qualify If He/She Closes After April 30, 2010?
Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale
For more info visit: www.irs.gov/newsroom/article/0,,id=187935,00.html
