Will Congress Extend The First Time Homebuyer Tax Credit???

Will they or won't they... Let's hope they do.  The Senate will vote this week on whether or not to extend the $8,000 first time home buyer tax credit until April 30, 2009.  It looks promising....

The first time home buyer tax credit extension is definitely the talk of the real estate and mortgage industry at the present time.  With the expiration on the tax credit looming, November 30th, many real estate agents, mortgage brokers and homebuilders are pushing lawmakers to send the credit before it expires on November 30th.  The expiration date of November 30th is on the closing of a home so those first time home buyers starting the process now will not benefit from the tax credit.

Senator Bill Nelson of Florida feels that the tax credit should be able to be extended by the end of the week.  He made the statement while with President Barack Obama so this is a very positive sign.  Senator Majority Leader Harry Reid and Senate FInance Committee Chairman Max Baucus are hoping to add an extension of unemployment benefits along with the extension of the home buyers tax credit.

Baucus and Reid have proposed the extension of the home buyers tax credit through 2010 in which the full $8000 will be received.  The tax credit would then be reduced by $2000 each quarter until expiring at the end of 2010. There is very little question as to whether the first time home buyers tax credit has helped the housing industry.  For the last three months we have seen home prices stabilize or move higher which has been greatly aided by the tax credit.  It will be interesting to see how the housing market reacts if the tax credit is not extended.

•  FIRST TIME HOME BUYER TAX CREDIT EXTENSION – APRIL 2010 FOR FULL $8000?

Keep your fingers crossed!

Sell Your House Super Fast!

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We are local investors and can make you a fair offer on yours house to close quickly.

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Or call 512-410-0068

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$8,000 First Time Home Buyer Tax Credit F.A.Q.

So we finally got the interview with our accountant Cameron Hollis recorded and edited down to the point where it could be shared with everyone.  Every single day we get questions about the $8,000 first time home buyer tax credit.  Do I qualify for it? How do I get it? Does it work with the owner financed homes that you sell?  We quizzed Cameron on these questions and more so that you can have an answer from an expert that helps people file for the credit every single day!  Watch the video interview below!

I hope that we answered all of your questions.  Let's reiterate some of the key points here:

"A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a primary residence on or after January 1, 2009 and before December 1, 2009. Unlike the first tax credit enacted in 2008, the new credit does not have to be repaid. One thing is for sure, the enhanced tax credit is providing an excellent opportunity for new home buyers. It’s no secret that we are in a struggling economy and the government has been taking steps to try and revive it, especially the housing market which many say is the heart of the problems.

The American Recovery and Reinvestment Act of 2009 (The official name of the tax credit) has a few key components that home buyers should be aware of.  Most importantly … it’s for first time home buyers and the credit does not have to be paid back. The credit is equal to 10% of the homes purchase price or a maximum of $8,000.00, and is available for any home bought on or after January 1, 2009 and before December 1, 2009.  Single taxpayers with an annual income up to $75,000 and married couples with an income up to $150,000.00 can receive the tax break.

So with all this talk about first time home buyers lets be sure that you understand exactly what the government defines as a first time home buyer. The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the past three-year period prior to the new home purchase. In addition for married couples, the law looks at both parties individually but it affects the couple as one. In other words, if you have not owned a property  in the past three years but your spouse has owned a principal residence, neither you or your spouse qualify for the tax credit." (From - What Does The 8000 Dollar Tax Credit For First Time Homebuyers Mean To You?, March 4, 2009)

Time is running out, you must purchase a home by November 30, 2009 to receive your $8000 tax credit.  This program is available to our owner financed home buyers and we will even set you up with Cameron to walk you through the paperwork.  Contact us right away so that we can find you your dream home.  Call Nick or Brett at 512.456.3657 or visit www.nobankhome.com for more details on our owner finance program.

Beautiful Round Rock Home - Tons Of Unique Features

Today we are featuring an absolutely beautiful home that we are offering with owner financing in Round Rock, Texas.  The home is located in Shadow Pointe Subdivision which gives you easy access to SH-45 and Dell.  Watch the video below for details and pictures of the home.





We are offering this home with owner financing with a mere 10% down.   Whether you have good, bad, or ugly credit, we can sell you this home.  We have many other Round Rock homes as well as many homes all over the Austin Metro area.  Visit www.nobankhome.com for more info.

What is Owner Financing?

"What is owner financing?"  I get this question every single day, so I guess it's a good topic to cover here.  

In a nutshell Owner financing is when a buyer of a home pays the owner, who finances the purchase of the home, instead of paying a mortgage company. This type of transaction allows for lots of flexibility, because the new home buyer does not always have to meet the strict credit and income requirements that are needed by the banks.

An owner financed home seller has the discretion to sell their home to someone that they feel would be a good buyer, whatever their credit situation may be.  

Owner financing is not rent-to-own and it is not a lease option.  With owner financing the new buyer will receive the deed to the home and now be the new home owner starting the day of closing.  The owner financed seller becomes the bank and receives the mortgage payments from the new buyer.  

Owner financing is a great way for a person that may be self-employed or have some credit problems to purchase a home.  For more information and a free report all about owner financing visit www.nobankhome.com 

Enjoy Austin, Live in Elgin. Elgin Texas Home for sale with owner financing.

Elgin, Texas


From the City of Elgin Website:


Long recognized for its Sausage and Bricks, Elgin Texas proudly bears the twin titles of the “Sausage Capital of Texas” and the “Brick Capital of the Southwest.” But today, Elgin is known for much more than these two industries which have been for decades, and remain today, solid economic foundations for the community. Today Elgin is a city on the move, rich in heritage, progressive in spirit, and optimistic of its future.




This great Elgin, Texas home is located close to Elgin schools and has easy access to Hwy 95 and Hwy 290.

Austin Housing Market Back on Track??

Although the Austin real estate market has faired well compared to the rest of the country, there is no denying that we took a hit as well.  We may be seeing the light at the end of the tunnel, but we are not quite out of the tunnel yet.  Last month, the July real estate statistics were released for Austin home sales and showed that we are back to 2008 sales levels and way up over sales from the beginning of the year.


A WebNewsWire article on September 24th explains: 

"REAL ESTATE STATISTICS JUST RELEASED FOR JULY 2009 SHOW A REBOUND IN AUSTIN HOME SALES, WITH 2,069 HOMES SOLD. THIS IS COMPARABLE TO THE 2,068 HOMES SOLD IN JULY OF LAST YEAR, MARKING A 61 PERCENT IMPROVEMENT OVER JANUARY 2009 AND ONLY A TWO PERCENT REDUCTION IN OVERALL HOME PRICES FROM LAST YEAR. EXPERTS IN THE AUSTIN REAL ESTATE MARKET BELIEVE THIS INDICATES A RECOVERY IN THE HOUSING INDUSTRY, LONG BELEAGUERED BY THE SAME CONCERNS THAT HAVE PLAGUED THE NATIONAL REAL ESTATE SCENE." -Submitted by AustinREBroker on September 24, 2009

A September 18th Press Release from the Austin Board of Realtors (ABOR) shows that August home sales in Austin were down again.  

In August 2009, 1,793 homes were sold, a 10 percent decrease from 1,994 homes sold in August 2008. The median home price for Austin in August 2009 was $189,000, a four percent decrease from the same month the prior year.

“It’s fairly normal for our market to slow down in autumn. Although we’ve been encouraged by stable home prices and volume in recent months, we are clearly not out of the woods completely,” said Jay Gohil, chairman of the Austin Board of REALTORS®. “Looking ahead, it will be interesting to see what impact the November 30 deadline for the first-time homebuyer tax credit has on demand this fall.”

Austin Board of REALTORS® releases August 2009 real estate statistics

I think its fair to say that the hemorrhaging in the market, at least in Austin, has stopped but the recovery will not be without its hiccups.   As Mr. Gohil mentioned the $8,000 first-time homebuyer tax credit may have an impact on demand in the housing market over the next two months.  Its a buyer's market and the government is insentivizing people to purchase a home now. I cannot think of a better time than now to buy an Austin area home.

Sunday Tour Of Homes - Owner financed homes in Hutto, Texas.

SUNDAY, SUNDAY, SUNDAY!!


Sunday September 27, 2009 from 2:30pm-4:30pm we will be hosting a tour of 5 owner financed homes in Hutto, Texas.   Call Brick Home Partners to learn more about how we OWNER FINANCE our homes to YOU! NO BANKS NEEDED!!

Watch this video for home and tour information.




If you would like to arrange a Private Tour of any of our fine homes, Please CALL NOW! 512-456-3657

Here is the list of homes for this Sunday:

OWNER FINANCING AVAILABLE ON THESE FINE HUTTO HOMES: Sunday Tour of Homes: 2:30pm – 4:30pm

121 Quail Hollow Drive 

Huttto, TX 78634

$134,900 1394 SqFt.

3 Bedroom 2 Bath plus additional study with glass beveled doors in front.

79 E, 1660 S , right on meadow lark. 

514 Garrett Court 

Hutto, TX 78664

$119,900 3 Bed 2 Bath

3007 Hanstrom Ct. 

Hutto, TX 78634

$152,900 2392 SqFt.

4 Bed plus office 2.5 Bath

119 Brooke St.

Hutto, Texas 78634

$129,900.00
3 bedroom 2 Bath


413 Blackman Trail 
Hutto, TX 78634
$179,900  3,100 SqFt.
5 Bedroom  3 Bath - Legends of Hutto Subdivision

Pflugerville, TX Owner Financed Home. Bad Credit OK!

Located just 12 minutes from downtown Austin, Pflugerville has quickly become a hot spot for real estate over the last few years. Census data shows that the population has more than doubled since 2000. Per economic law with an increase in demand comes an increase in price, however there are still great deals that can be found in the Pflugerville market.


Brick Home Partners is now offering several Pflugerville homes for sale with owner financing. If you have been turned down by the bank, or know that you would because of bad credit or self-employment we can help. We look at you and your ability to make your mortgage payments not some silly number that the banks seem to care so much about.


See our newest available Pflugerville home in the video below.



Contact us by phone (512)456-3657 if you would like to take a look at this or any of our other owner financed properties or visit www.nobankhome.com to learn more about owner financing.

Federal Housing Tax Credit - AKA The First Time Home Buyer $8,000 Tax Credit

In a couple of days we will put up an interview with our accountant Cameron talking about the 1st time home buyer $8,000 tax credit, but because we get questions everyday about this program we wanted to get the discussion started now.  FYI, Cameron is the expert on this subject so make sure you check back in later this week for his interview.


Most important eligibility requirements for getting your $8,000 tax credit:

• You and your spouse have not owned another principal residence at any time in the last 3 years.
• You must have a Social Security number or an EIN number. (i.e. you pay taxes).
• Your gross income must be less than $75,000, or $150,000 if you file a joint return.
• You must purchase a home between January 1, 2009 and December 1, 2009.

The biggest question that we get is 'do owner financed homes qualify for the $8,000 tax credit?'  The answer is 'Yes' you can receive the tax credit if you purchase one of our owner financed homes.  It takes several weeks to receive the tax credit after you purchase the home so you are not able to use the $8,000 for your down payment of one of our owner financed properties, however you can use it for buying down the principal amount on your home and ultimately lowering your payments.  

Many of our buyers use the tax credit to pay back a friend or loved one that loaned them the down payment for their home.  So even if you don't have money for a down payment you can borrow it from someone that you know and pay them back when you receive the tax credit.

Give us a call if you have any questions about the tax credit and purchasing one of our owner financed homes.  Brick Home Partners 512.456.3657

Custom Kyle Texas Home Offered With Owner Financing.

This gorgeous Kyle, Texas home is now available for sale with owner financing.  The home is located in a quiet cul-de-sac on a 1/2 acre lot.  There are 3 bedrooms, 2 bathrooms, 2 living areas, 2 fireplaces, and a loft that can be used as an office or as a third living area.  

If you have good, bad, or even ugly credit you are approved with owner financing.  

 

Owner Financing means you don't have to go through all the red tape and long approval process associated with the traditional mortgage. With Our Home Ownership Program, you could get your Financing Approval in a matter of days instead of the 30 to 45 to 60 days it takes to get approved for a Bank loan. Once approved, you could move into this home in as little as 2 weeks, or if it is already vacant you could apply today, get approved tomorrow, and close/move in the next day! 

We Specialize in Assisting the Credit Challenged in purchasing a home of their own. We work with Self-Employed people with good credit, but because of their Legal Tax Deductions, they don't show the Income necessary to Qualify for a Bank loan. We also work with those with less than perfect Credit. We understand that life happens, and challenges to our credit arise. If you have a steady income and can afford a reasonable House Payment, we can get you into a new home, and help to start you on the path towards improving your overall credit worthiness. Take Advantage of ALL the Benefits of Home Ownership, Including all the Tax Benefits and the $8,000 Federal Tax Credit for those who Qualify! (Must Purchase on or before November 30, 2009) 

Call us today at 512-456-3657 or visit www.nobankhome.com for more information about our owner finance program.