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Extreme Home Make Over In Texas…With My Parents?

January 19th, 2010 Categories: Tx Real Estate News

That’s right ABC’s Extreme Make Over Home Edition hit Kemah Texas last week as it’s 7th season of helping needy families rolls on.

According to my inside source (my Mom and one of the volunteers) the episode is this seasons 2 hour finale and helps a family with 9 adopted special needs kids that is recovering from the devastation of Hurricane Ike. They deserving family was recently living in a 20 foot trailer…all 11 of them!

Thanks to Ty Pennington and his gang of 1,500+ volunteers that included actress Jessica Alba, members of the Houston Texans and of course my parents the home was finished on time and true to what you see on television they really did have to “MOVE THAT BUS”!

This blog was brought to you by Jeremy K. Frost ~ REALTOR

Proud son of some pretty cool parents!

For all your real estate needs.

(512)636-2746        Jeremy@FrostFinds.com

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Nine Consecutive Gains for Pending Home Sales

December 16th, 2009 Categories: Tx Real Estate News

Washington December, 2009

Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in October, increased 3.7 percent to 114.1 from 110.0 in September, and is 31.8 percent above October 2008 when it was 86.6. The rise from a year ago is the biggest annual increase ever recorded for the index, which is at the highest level since March 2006 when it was 115.2.

If you are considering selling your property, NOW is the time!

Contact Jeremy K. Frost ~ Realtor

(512) 636-2746 or Jeremy@FrostFinds.com

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House votes to expand homebuyer tax credit

November 6th, 2009 Categories: Tx Real Estate News

House votes to extend homebuyer tax credit into spring,

expand it beyond first-time buyers

 

WASHINGTON (AP) — Buying a home is about to get cheaper for a whole new crop of homebuyers — $6,500 cheaper.

First-time homebuyers have been getting tax credits of up to $8,000 since January as part of the economic stimulus package enacted earlier this year. But with the program scheduled to expire at the end of November, the House voted 403-12 Thursday to extend and expand the tax credit to include many buyers who already own homes. The Senate approved the measure Wednesday, and the White House said President Barack Obama would sign it Friday.Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time homebuyers — or anyone who hasn’t owned a home in the last three years — would still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30.

“This is probably the last extension,” said Sen. Johnny Isakson, R-Ga., a former real estate executive who championed the credits.

The homebuyers tax credit is one of two tax breaks totaling more than $21 billion that was included in a bill extending unemployment benefits for those without a job for more than a year. The other would let companies now losing money recoup taxes they paid on profits earned in the previous five years.

“We are still in a world of economic hurt, and Congress must continue to act boldly and creatively,” said Sen. Max Baucus, D-Mont., chairman of the Senate Finance Committee. “With the right mix of tax breaks and investments we will get through this recession and get folks working again.”

The real estate industry has been pushing to extend and expand the housing tax credit. About 1.4 million first-time homebuyers have qualified for the credit through August. The National Association of Realtors estimates that 350,000 of them would not have purchased their homes without the credit.

Extending and expanding the tax credit for homebuyers is projected to cost the government about $10.8 billion in lost taxes. While the measure passed the Senate by a 98-0 vote, Sen. Kit Bond, R-Mo., questioned its efficiency in stimulating home sales.

“For the vast majority of cases, the homebuyer tax credit amounted to a free gift since it did not affect their decision to purchase a home,” Bond said. “And for the small minority of buyers whose decision was directly caused by the credit, this raises the question of whether we are subsidizing buyers who may not have been able to afford buying a home in the first place.”

The credit is available for the purchase of principal homes costing $800,000 or less, meaning vacation homes are ineligible. The credit would be phased out for individuals with annual incomes above $125,000 and for joint filers with incomes above $225,000.

The credit would be extended an additional year, until June 30, 2011, for members of the military serving outside the United States for at least 90 days.

Expanding the tax credit for money-losing companies is projected to cost $10.4 billion.

The business tax break would allow money-losing companies to use current losses to offset taxable profits earned in the previous five years, giving them refunds of taxes paid in those years. Under current law, businesses with annual gross receipts of more than $15 million can claim losses back only two years.

The tax break would help industries suffering losses in 2008 or 2009, including retailers, homebuilders and newspapers. Congress included a scaled-back version of the tax break — for companies with revenues of $15 million or less — in the economic recovery package enacted in February. The new tax break would be available to companies of any size, providing a quick source of cash.

The U.S Chamber of Commerce has been a big backer of the tax break for money-losing companies.

“It frees up capital that they can use to maintain jobs and potentially even hire new people as the economy returns,” said Caroline Harris, senior tax counsel for the U.S. Chamber of Commerce.

The tax breaks would be paid for largely by delaying a tax break for multinational companies that pay foreign taxes. It was passed in 2004 and originally was to have taken effect this year, but would now be delayed until 2018.

The bill is H.R. 3548.

This blog was brought to you by Jeremy K. Frost ~  REALTOR

For all your real estate needs!

512-636-2746 or Jeremy@FrostFinds.com

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Austin Area Green Homes

June 16th, 2009 Categories: Tx Real Estate News

Homebuilders and homebuyers across the country are increasingly interested in green building. But what exactly makes a home green?

Green building means improving the way that homes and homebuilding sites use energy, water, and materials to reduce impacts on human health and the environment. Building a green home means making environmentally-preferable and sustainable decisions throughout the building process-decisions that will minimize the environmental impact of the home while it is being built and over the many years it will be lived in.

Typical features to look for in ENERGY STAR qualified homes include:

These energy efficiency improvements save homeowners money — about $200 to $400 per year on utility bills. More importantly, monthly energy savings can easily exceed any additional mortgage cost for the energy efficiency improvements, resulting in a positive cash flow from the first day of home ownership. As a result, the cost-effectiveness of ENERGY STAR improvements can help offset additional costs associated with other green home features.

What should home buyers look for first in a green home?

Energy efficiency is the place to start. That’s because the energy used in homes often comes from the burning of fossil fuels at power plants, which contributes to smog, acid rain, and risks of global climate change. So, the less energy used, the less air pollution generated. And the easy way to make sure a new home is energy efficient is to look for the blue ENERGY STAR mark, the government-backed symbol for energy efficiency.

ENERGY STAR qualified homes are independently verified to meet strict guidelines for energy efficiency set by the U.S. Environmental Protection Agency. These homes save money on utility bills, provide a more comfortable living environment with better indoor air quality, and help protect the environment.

Are you looking for an Austin area Green Home or trying to make your current home more efficient?

 Jeremy K. Frost is one of about 350 Central Texas Realtors (out of almost 20,000)  that has received extensive GREEN training in new construction and resale homes by the EPA / Energy Star.

Contact Jeremy today for all your GREEN real estate needs!!! ~ Your Energy Star Rated REALTOR!!!

512-636-2746 or Jeremy@AustinHomeAndLand.com

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This Month in Real Estate - April 2009

April 23rd, 2009 Categories: Tx Real Estate News

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Texas Real Estate Texaplex Video

March 10th, 2009 Categories: Tx Real Estate News

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Monthly Review of the Texas Economy December 2008

January 13th, 2009 Categories: Tx Real Estate News

Click here for the full review Texas Economy December 2008

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TEXAS A&M REAL ESTATE MARKET OUTLOOK FOR CENTRAL TEXAS

November 3rd, 2008 Categories: Austin Real Estate News, Tx Real Estate News

Dr. Mark Dotzour of the Texas A&M Real Estate Center gave a Market Outlook presentation yesterday at Realty Roundup.  In general, Dr. Dotzour has some serious concerns about the government’s proposed solutions to economic woes, but does think the Central Texas economy is holding steady, particularly with respect to jobs, property values and population growth. Below are a few specifics.   

Dr. Mark Dotzour

ABOR Realty Roundup

Oct. 22nd, 2008

-          Dr. Dotzour began with an indictment of local news media, and a recent headline in Austin that projected a decline in real estate values.  Dotzour said that the “evidence” is merely speculation on the part of two analysts, and that the headline should have read “Two guys speculate that home prices could possibly drop sometime in the future.”  He cited Austin MLS statistics that show that prices have historically remained on a slow and steady increase for people willing to hold onto property at least 3-5 years, and concluded that anyone who tells a buyer with the desire and means to purchase property to wait is doing them a great disservice.

-          Regarding inventory of homes for sales in Austin, Dotzour said we’re holding at 6-6.5 months, which he said is the point where we consider a market “balanced” between the interests of buyer and seller.  According to Dotzour, there is no time in the last 18 years when home values did not rise overall in Austin.

-          He said there will continue to be a lot of homes sold in Texas, where we still have positive job growth, and a population that is expected to grow 13-million by the year 2030.  Read the rest of this entry »

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Recession-Proof Your Home

August 19th, 2008 Categories: Tx Real Estate News

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