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With the Fort Lauderdale Boat Show just hours away, boaters and brokers alike are ‘reeling-up’ for a spooktacular weekend. Everything you need for your boat and waterfont property will be there.

This week we are featuring homes that are known for their proximity to the Bay.

8525 Old Cutler Road
http://sef.mlxchange.com/Pub/EmailView.asp?r=11302336&s=SEF&t=SEF

520 Brickell Key Drive #APH10
http://sef.mlxchange.com/Pub/EmailView.asp?r=55688194&s=SEF&t=SEF

Deering Bay Marina http://sef.mlxchange.com/Pub/EmailView.asp?r=335671402&s=SEF&t=SEF

SHOW LOCATIONS

Bahia Mar Yachting Center
801 Seabreeze Blvd.
Ft Lauderdale 33316

Las Olas Municipal Marina
2 South New River Dr. East
Fort Lauderdale, FL 33301

Hall of Fame Marina
435 Seabreeze Blvd.
Ft. Lauderdale 33316

Hyatt Pier 66 Resort & Marina
2301 SE 17th St
Fort Lauderdale, FL 33316

Greater Fort Lauderdale/Broward County Convention Center

1950 Eisenhower Blvd.
Ft. Lauderdale, FL 33316

Hilton Fort Lauderdale Grande Hotel
1881 SE 17th St
Fort Lauderdale, FL 33316

Lizzie Padro & Co. specializes in marketing and selling South Florida Real Estate. Please contact us if we can be of assistance with any of your Real Estate needs.

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.

Latest news:

Home Buyer Tax Credit Has Added Benefits for Armed Services Members, Others (Nov.11)Tax Credit Extension a Positive Step Toward Real Estate Recovery (Nov.5)President’s Podcast: Tax Credit Extended (Nov. 5)

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 tow 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 IncomeUnder 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.

Please contact Lizzie Padro & Co. is you or anyone you know is interested in taking advantage of the extended buyer tax credit.

Michelle Beyer
Realtor-Associate
Lizzie Padro & Co.
Coldwell Banker Residential
(786) 326-4430