Transients Take Over Vacant Home

Last week, I was previewing a few homes for a client in the Downtown Phoenix Area. After trying the key on the front door (to no prevail), I went around to the backyard. I noticed the back door was wide open & there were some clothes in the storage shed. It appears that some transients have taken over the home. I made a decision to not go in the house due to the safety factor. I called the listing agent and advised him to call the police.

Here are a couple pics that I took.

Arizona First Time Buyer Tax Credit

Here is a basic summary of how the Tax Credit works:

- First-time home buyer tax credit of 10% of the purchase price of the home not to exceed $7,500

- In the case of two or more individuals who are not married, $7,500 is the total credit for all individuals combined

- “Refundable” credit means that if the actual tax liability was, say, $5,000, the purchaser would have the entire $5,000 tax liability wiped out plus they would receive a tax credit refund of $2,500

- Phase out if modified adjusted gross income exceeds $75,000 ($150,000 if married, filing jointly)

- Completely goes away if income reaches $95,000 ($170,000 if married, filing jointly)

- First Time Home Buyer defined as not owning a home within 3 years

- Cannot purchase home from a related person

- Recapture of credit over 15 years (accelerated recapture if the home is sold or ceases to be primary residence

- Applies to purchases made between April 9, 2008 and July 1, 2009

If you would like a detailed breakdown of how this program works, please let me know.