Tax Credit Extended

First-Time Home Buyer Tax Credit Extended For Qualified Service Members

Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.


# Qualified service member” means a member of the uniformed services of the U.S military, a member of the Foreign Service of the U.S., or an employee of the intelligence community.
# “Official extended duty” means any period of extended duty outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010.

For those who are qualified service members, you have an extra year to cash in on the credit. Your new deadline is April 30, 2011.

There has been another modification to the credit for members of the armed service that deals with the Tax Credit Recapture Rules. Currently, a buyer must repay the credit if they move out of their new home within three years. But you are exempt if the move is due to government ordered extended duty service.

To get the first-time home buyers credit, you will need to claim it on your federal income tax return. There is a specific form (IRS Form 5405) that helps you determine how much the credit will be. Consult a Real Estate Professional as well as a Tax Professional about the credit to ensure it is submitted correctly.

For those interested in the credit, visit FederalHousingTaxCredit.com to find out more information.

New custom home builders in El Paso Tx

EnergyStar Builders


When building a custom home, there are many items that go into the final purchase price. read more...

Search and view home builders in El Paso, Texas using the quick links and information you see below. Each of the Texas home builders listed below offer new homes for sale and new home communities throughout El Paso. To learn more about each individual home builder, visit their websites where you can discover new home designs, floor plans, contact information, and community locations.

Sanderson Custom Homes – Sanderson Custom Homes is a custom home builder in El Paso, Texas. Sanderson Custom Homes has 17 different floor plans to choose from. Each floor plan ranges from 1,921 to 3,600 square feet, with 3 to 5 bedrooms and 2 to 4½ baths. Sanderson Custom also has some move-in ready homes that start at the high $200s.

Classic American Homes – Classic American Homes has built over 5,000 homes in El Paso, Texas. They currently have 13 communities in the El Paso area. For more information please visit the Classic American Homes website.

Winton Homes – Winton Homes currently has 13 communities in El Paso. Winton Homes also has 9 communities in Las Cruces. Winton Homes is a custom home builder that only builds in Texas. These homes start at the high $100s.

Tropicana Homes – Tropicana Homes is a Texas single family home builder. This local El Paso home builder has homes ranging from 1,791 to 3,419 square feet with 3 to 4 bedrooms.

West to East El Paso Tx Real Estate - Ft Bliss Homes for Sale

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FHA Loan Qualification Tips

Here are some things you can do to improve you debt-to-income ratios to qualify for an FHA loan. Your objective is to reduce your debt-to-income.

1. Pay down/pay off debt like credit cards that show up on your credit report.

2. Teachers should try to get your student loan deferred. ( these payments do not have to be included in your debt if deferred for 12 months).

3. Pay off an auto loan (this is one of the biggest killers on a credit report)

4. Consider a home in a lower price point

Luxury Homes for Sale in El Paso

A great luxury home in Leguna Meadows in the El Paso area. If your investment goals are for single family residential property a great property in the El Paso - Canutillo Tx Market is LAGUNA VISTA, EL PASO TX 79932 . This is an ABSOLUTELY SPECTACULAR luxury property! Over 3000 sq. ft., formal entry, formal dining Rm, formal Lv Rm, OFFICE, Kitchen is open to comfortable family rm, 2 bedrms have private baths, 2 bedrms share a continental bath, plus a powder rm for guests.Over size garage for the long vehicle. Lots of quality and high end appliances. ENERGY STAR for low heat & cool bills. All this in Laguna Meadows.

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Relocating to El Paso- Fort Bliss | Find Homes For Sale

As a Buyer’s Agent and REALTOR® I have access to any property in the El Paso Tx , Fort Bliss and Horizon City area no matter who listed the property. So even if the house is a foreclosure a Buyer's Agent can and will get you access to the property.

When searching for a home it’s important to be independently represented. If you contact the selling agent a/k/a the LA you are talking to the agent that represents the seller ONLY. The LA may get you to sign with him/her and may or may not tell you that they will act as an Intermediary. As you may know the Seller’s Agent does not owe you any duty to protect your interest. But when he says he will represent both seller and buyer he must not disclose any confidential information to you about the seller and vice-versa and he must disclose material information to you and vice versa. It gets pretty sticky when, as a seller’s agent, you already know so much about your seller and now must act as an impartial party to the transaction.

I have never and will never act as a intermediary because of the possible conflict of interest this presents. This is the only licensure that allows dual agency. As you can see I feel passionate about this subject because home buyers are not aware of the fiduciary duty owed to them by agents. It’s like appearing in court with the same attorney as your opponent. I use this analogy because I was in the legal field for 20 years.

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