Exclusive Steamboat Properties

Archive for November, 2009

Happy Thanksgiving From Steamboat!

Today is opening day.  Where were you?  We are waiting for you in the boat.  What a perfect blue-bird day.  Can you name the runs in the background?

Ski In Ski Out At Edgemont…

               The Simplicity of Owning at Edgemont

I. Completion in January 2010

Buyers will have plenty of time to enjoy ski season 2009-2010 from their new doorstep.

II. Simple, Reliable Financing

Finding financing in today’s lending environment can be cumbersome, even for buyers that have strong qualifications. Feel confident that financing options are in place for Edgemont.

Edgemont has built relationships with four, leading lending institutions that have become intimately knowledgeable about the Edgemont community, and have pre-approved their residences for condominium financing. Each of these lenders offers unique financing programs to fit a buyers’ needs. (Follow the link below to download a list of the preferred lenders). Read the rest of this entry »

New Tax Credit…It’s Not Just For First Time Home Buyers Anymore!

Q: What has stayed the same in the new law?

 1) First-time home buyers still get a credit of as much as 10% of the purchase price, up to a maximum $8,000. “First-time” means people, including both partners of a married couple, who haven’t owned a principal residence for three years before the purchase.

 2) All taxpayers who claim a credit must use the home as a principal residence for the next three consecutive years.

 3) The credits offer dollar-for-dollar reductions of tax and are refundable. This means that a taxpayer who doesn’t pay enough tax to offset the credit can get a refund. For example, if you qualify for an $8,000 credit but only owe $5,000 in tax, you could receive a $3,000 check from the Internal Revenue Service.

4) Under the new law, as under the old, 2009 home buyers may claim the credit on either their 2008 or 2009 returns, and 2010 buyers may claim the credit on either their 2009 or 2010 returns.

 5) Taxpayers do not qualify for a credit if they buy from a lineal ancestor or descendant, including parents or grandparents and children or grandchildren.

 Q: What has changed?

 Several important features took effect as of Nov. 6:

 1) To take advantage of the tax credits, a buyer must have a contract in place before May 1, 2010, and you must close before July 1, 2010. No further extension is expected. Read the rest of this entry »

For The Record…Steamboat’s Crazy Crime Time

The crime in Steamboat,  fortunately is minimal… the occasional loose dog,  DUI or some tipsy person is escorted home or taken to detox (I’ve lived here 10 years and still don’t know were that is, thank God).   Well, here is a doozy which was in the Steamboat Today police blotter yesterday.  Let me know if you’ve seen a better one…

1:28 p.m. Police were called to a report of a suspicious incident near Rotary Park where a man’s dog reportedly found a beer bottle, a vodka bottle, and a pair of women’s underpants.

Good doggie.  I feel compelled to comment on this because the temperature was in the single digits…I’m thinking that…never mind.

Home Buying Is Easier In Steamboat Springs

More Homebuyers Qualify for Tax Credit

Congress just passed an expanded version of the $8,000 first time home buyer tax credit that was set to expire on November 30. “The new version of the tax credit has the potential to stimulate the housing market even more than the old version due to the fact that more people will qualify under the new rules,” said Gibran Nicholas, Chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. “Although the tax credit remains at $8,000 for home buyers that have not owned a primary residence in the last three years, it has been expanded to include a $6,500 tax credit for home buyers that have lived in their current primary residence for at least five consecutive years out of the past eight years. Under the old rules, move-up home buyers did not qualify.” Consider these three examples:

 Example 1:

     Jane purchased a home in 2002, lived there for 5 years as her primary home, moved out  in 2007, and turned that home into a rental property. If Jane decides to buy a new primary residence today, she would qualify for the $6,500 tax credit based on the fact that she lived in the same residence as her primary home for at least five consecutive years out of the past eight.

Read the rest of this entry »