Archive for the 'Waterbury' Category

Legislation passed by Congress, and signed by the President, allows “repeat” or “move up” buyers to qualify for a federal tax credit of up to 10% of the purchase price up to $6500. This is an element of the homebuyer’s tax credit that previously was only available to first time buyers but now has been expanded. To qualify, a “repeat” buyer must have lived in a home they used as their primary residence for a at least 5 consecutive years out of the past 8 years. The purchase price of the new home cannot exceed $800,000 and annual income cannot exceed $125,000 (single filers) or $225,000 (married filing jointly). The new home must be used as the purchaser’s primary residence and the cost of the new home being purchased does not have to be higher than the previously owned home. The buyer must be under contract by last day of April 2010 and close on or before June 30th of next year.

The tax credit is still obtainable to first time purchasers for 10% of the purchase price up to $8000. A first-time purchaser is defined as anyone who has not owned a home in the past 36 months. The end of April deadline and income limits outlined above also applies to first time purchasers.

It is a grand time to buy or sell in Vermont! Our marketplace continues to rank among the best in the country – prices are stable, interest rates are at historical lows, homes are affordable and there’s a good supply of inventory to choose from. Contact a BCK or Stowe Realty agent today to discover how both sellers and buyers win using a BCK Real Estate Company agent.

The latest issue of Yankee Magazine is on the newsstands now.  There is a great article about the VT Route 100 corridor being among the best foliage drives in all of New England.  The article features a number of landmarks in two of the many towns that BCK Real Estate serves.  Check out the picture of the bookstore in Rochester on page 44. It is right next door to the BCK Real Estate office in Rochester.  Ben & Jerry’s, a short distance from the BCK Waterbury VT office is also featured.  Contact Kip Matthews at the BCK Waterbury office (802) 244-1250 or Erik Baier at the BCK Rochester office (802) 767-9900 to learn how to make your Vermont vacation permanent!

The clock is winding down on the $8,000 Federal Tax credit for first time Vermont home buyers.  This free cash incentive is available for first time buyers who purchase by November 30th.  You must actually close by that date to qualify. Given that the typical home buying process in Vermont is 45 to 60 days, the window of opportunity to get a new home under contract is only a few more weeks.

Economic indicators are telling that the economy is on the upswing.  That fact combined with historically low mortgage interest rates and an $8,000 tax credit means now is the time to buy. Remember, just one additional payment of $8,000 can save you more than 15% of the total interest paid over the life of a typical $150,000 mortgage.

Contact your BCK Real Estate professional today to learn how to seize this once in a generation opportunity.  Call or stop in to any of our five realty offices located in Barre, Waterbury, Montpelier, Northfield or Rochester, Vermont.