We all know that change is inevitable, and I have recently found that I am no exception to that rule. It is with a fair amount of sadness but twice as much excitement that I announce I am no longer with Access Realty, but starting a new chapter in my life and career with Lambros Real Estate ERA.

I want to thank all of my current clients for making this transition with me. I look forward to being able to serve you even better now with the full power of Lambros and ERA behind me. It has taken a couple of weeks to fully transition to my new real estate home but am now up and running stronger than ever.

My new contact information is as follows:

Owner Financing Available on all RiverRidge Subdivision Lots

Our clients with Superior’s RiverRidge subdivision are offering owner financing terms! Please contact Kevin Ray at (406) 207-1185 for more information. RiverRidge is like no other community we know of. It features private Trout Ponds and a Nature Trail situated alongside the Clark Fork River.

Come and experience a Superior Lifestyle…

View more videos or our Video Tour of Missoula.

New Legislation

New legislation, the Worker, Homeownership and Business Assistance Act of 2009, which was signed into law on Nov. 6, 2009, extends and expands the first-time homebuyer credit allowed by previous Acts. The new law:

• Extends deadlines for purchasing and closing on a home.
• Authorizes the credit for long-time homeowners buying a replacement principal residence.
• Raises the income limitations for homeowners claiming the credit.

Under the new law,an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2010 and close on the home by June 30, 2010. For qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 return.

For the first time, long-time homeowners who buy a replacement principal residence may also claim a homebuyer credit of up to $6,500 (up to $3,250 for a married individual filing separately). They must have lived  in the same principal residence for any five-consecutive year period during the eight-year period that ended on the date the replacement home is purchased.

People with higher incomes can now qualify for the credit. The new law raises the income limits for homes purchased after Nov. 6, 2009. The credit phases out for individual taxpayers with modified adjusted gross income (MAGI) between $125,000 and $145,000 or between $225,000 and $245,000 for joint filers. The existing MAGI phase-outs of $75,000 to $95,000 or $150,000 to $170,000 for joint filers still apply to purchases on or before Nov. 6, 2009.

General Information

Homebuyers who purchased a home in 2008, 2009 or 2010 may be able to take advantage of the first-time homebuyer credit. The credit:

• Applies only to homes used as a taxpayer’s principal residence.
• Reduces a taxpayer’s tax bill or increases his or her refund, dollar for dollar.
• Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.

The credit is claimed using Form 5405, which you file with your original or amended tax return.

Source. IRS.gov

Call Us Today!

Access Realty
Kevin & Monica Ray
Office: 406-822-SOLD (7653)
Cell: 406-207-1185
Email: RayTeam@YourMT.com

Montana Real Estate Resources

This site contains information on all areas related to Montana Real Estate. Browse the articles below for information on investing, moving, buying, selling, and more!

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Recent Articles

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• Missoula Real Estate Market Stats for December 2009, 59804
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Missoula’s 59808 zip code continues to struggle.  While it has, by far, the most sales of all areas of Missoula, its numbers for 2009 were significantly below those of 2008.  2009 finished almost 5% below last year in the number of homes sold, well over 12% below last year in total value of homes sold and more than 8% below last year in average sales price.

At the end of December 2009, there were 182 homes for sale in Missoula‘s 59808 zip code with an average list price of almost $319,000. Homes for sale in Missoula‘s 59808 zip code, range from $68,000 to $1,800,000.

View Real Estate Market Reports for all of Missoula Montana

Missoula’s 59804 zip code was one of the top three best performing areas in Missoula so far as the number of homes sold, the total value of those homes and the average sales price of homes.  So it can be argued that 59804 was Missoula Montana’s best performing zip code.  One of 3 zip code which actually outperformed 2008 in many aspects.

At the end of December 2009, there were 61 homes for sale in Missoula‘s 59804 zip code with an average list price of just over $548,000, this number is inflated due to some very high priced homes. Homes for sale in Missoula‘s 59804 zip code, range from $119,900 to $5,850,000.

View Real Estate Market Reports for all of Missoula Montana