What tax credits are there for homeowners?
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Property taxes and mortgage interest payments are tax deductible. If you have an office in your house that meets the federal requirements (discuss with your accountant), you can figure out the square footage of the office compared with the total square footage of the home and you can take that percentage of the cost of utilities, repairs, etc. off your taxes.
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H&R Block can answer that. Or call your State tax commision.
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From the book "422 Tax Deduction for Businesses and Self Employed Individuals" http://www.amazon.com/exec/obidos/ASIN/0917510240/powerhomebizguid by Bernard Kamoroff, here are some of the items you can deduct:\n\naccountant fees\naccident insurance\nadvances paid to contractors, vendors\nadvertising and promotional expenses \nalarm systems \nair fare (deductible if certain requirements are met - business expense)\nallowance for bad debts\nanswering service fee\nappraisal fees\nassessments of local governments for repair (not construction) of streets, water lines, etc\nassociation dues, including community service organizations such as Rotary\nATM fees for withdrawing money of the business\nattorneys\naudits \nautomobiles used for business\nawards to employees\n\nThat's just for Letter A. There are a LOT more you can deduct. I suggest you get a copy of this book to help guide you and make sure you are maximizing your tax deductions.
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1) Loan to Value (LTV) - If you have excellent credit, you m,ay qualify for 100% financing if the property is to be your primary residence (not rental property). However, this also means that you are borrowing all you need and your payment will be higher. I recommend at least 5-8% down if you have some savings set aside.\n\n2) Value - try and get something in your price range. This sounds like common sense but you would be surprised. Price out your monthly loan payment options (but don't get an interest only loan just to afford it..that is never a good idea). Get you mortgage broker/lender to help you with this so that you can know in what price range to shop for....\n\n3) Expenses - Utilities are dependent on the condition of the property and your usage. But you do need to remember that you will have to pay annual real estate taxes and annual home-owner's insurance. These are conditions to your loan and you cannot get around it.
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You need to do some math. What are you spending now on rent for a similar place? Now figure out how much the mortgage, homeowner's dues, and property taxes are. Then factor in the tax deduction for the mortgage interest and property taxes. You may qualify for a first time home buyer's tax credit, check with your county. Then compare what you're spending on rent versus what you would be spending on the condo. If they are close, then yes it is a good time.
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Try to find a rent to own. My husband and I had bad credit and wanted our own home. \nWe looked in our daily local newspaper and found a 3 bedroom -2 bathroom ,2+ acres and all we had to do was sign the lease and give a 1000.00 down and we were in.\nA lot of rent to owns don't do a credit check. \nWe pay 640.00 a month and that includes insurance and water.\nWe pay 200.00 a yr in taxes. We have now been in our home 1 yr and loving it!
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Tax credits will be available to buyers of gas-electric hybrid cars — anywhere from $1,700 to $3,000 depending on the model. \n\nas much as $500 in credits can be claimed by taxpayers who buy home insulation and energy-saving exterior windows, as well as more-fuel-efficient appliances, heat pumps and solar-powered hot-water systems.\n\nsingle parent with two children will be able to claim the credit if the parent earns less than $36,348. For two parents filing jointly, the cutoff will be $38,348. \ntaxpayers (those who do not itemize deductions in 2006, will rise to $10,300 for a married couple filing jointly, and $5,150 for singles. The amounts for 2005 were $10,000 and $5,000.\n\nFood product makers must provide more labeling information to alert customers who are allergic to such ingredients as milk, eggs, wheat and peanuts.\n\n\nElderly Americans on Social Security will get an automatic cost-of-living increase of 4.1% this month. But about 25% of the increase will be reclaimed to pay for higher monthly premiums for Medicare's Part B, which covers visits to doctors' offices and some outpatient procedures.
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Paying parents do have tax incentives.  They can claim that child on their taxes.
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It depends on the city or jurisdiction where the property is. In my city, the Homestead Exemption gets me the first $50,000 of my home's assessed value free of taxes, and gets me a cap of no more than an 8% increase in the dollar amount of taxes paid in any year. Pretty nice! \n\nYour realtor can give you all the in's and out's of your area's Homestead Exemption as well as help you enroll. Normally it is a short form added to your regular home purchase forms (like one more form is going to make a difference in that mountain of paper!) plus each year at tax time you usually have to send back a form to confirm you are still living in the home (as opposed to renting it out which would usually cause you to lose the exemption).
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try www.property shark.com It only applies to certain states so I'm not sure if you state is included but worth a look. Or you could contact your local real estate agent- they will tell you.
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contact www.naca.com\n\nThey are a non-profit housing advocacy group and they either finance their own mortgages or work with big lenders such as Bank of America.  They will work with you to improve your credit also.
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Contact fannie mae (www.efanniemae.com)  they have recently added some programs for their MyCommunityMortgage thing that is meant to help people like yall.  I work at a mortgage company and we have been able to get people in homes when they had bad/nocredit no savings no down payment no assests. Youd be surprised what you can get if you go through the right lender. good luck!!!
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You should payoff your mortgage if you have the money anyway.  The tax credit isn't worth the interest payments on a 30-yr mortgage.
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On the Federal level it is doubtful there are any tax-benefits unless maybe you build "affordable" housing. As far as state and local tax breaks are concerned: possibly. I doubt San Diego or California has any such incentives. If you build in an area without any hotels/condos and have a community or state wanting to build up their own tourism industry, then there may be generous tax abatements, tax deferrals, and other incentives.
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you can google for tax reposessions, it will sort them according to state. There are usually onle a few auctions per year, while they are open to the public they are not highly advertised. A lot of websites will charge you money to the information, as long as you have a credible site you should be safe. \n\nalso, a good real estate agent and help you find listsings to HUD houses. those are forclosures.
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its called a realestate agent or you can go by taxes your house is probably assesed by your town or county!
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The government already subsidizes green homes, but the more apporiate question is to what degree.  It is clear that tax credits for renewable energy are in everyones best interest.  Just think if Gore had been elected and his proposal to give up to $4000 tax credit for RE had passed, maybe gas would not be $3.00 per gallon