How Do I Claim my Homebuyers Tax Credit?

You've decided to purchase a home and take advantage of the Extended Home Buyer Tax Credit. Here's what you need to do to get your benefit:

First, you have the option for filing an amended 2009 return or filing for tax credit on your 2010 tax return.

• You must have bought - or entered into a binding contract to buy- a principal residence on or before April 30, 2010.
• 
  If you entered into a binding contract by April 30, 2010, you must close (go to settlement) on the home on or before June 30, 2010.

2009 Tax Return

• Purchasers of conventional homes should include a copy of Form HUD-1, Settlement Statement, or other settlement statement showing all parties' names, property address, purchase price and date of purchase.

Move-up Home Buyer Tax Credit - To be eligible for this, taxpayers must show that they lived in their old homes for a five-consecutive-year period during the eight-year period ending on the purchase date of the new home. For long-time residents claiming the credit, the IRS recommends attaching, in addition to the documents described above, any of the following documentation of the five-consecutive-year period.

• Form 1098, Mortgage Interest Statement, or substitute mortgage interest statements,


• Property tax records or


• Homeowner's insurance records.

There is much more helpful information on the government website. For Frequently Asked Questions, different scenarios and more - try this page. Make sure you have all "your ducks in a row" so you don't miss out on this tax credit. If you have any questions, give us a call. If we don't have the information, we'll direct you to the appropriate people.

BOB 979-2883 BILL 770-2455

Your Neighbors Trust the Eisenlauer Team

My post title is an example of Comparability as described by Tim Ash. His article in Website magazine also quotes Dr. Robert Cialdini for ways to create influence and trust in today's marketplace. Do you agree with his 6 universal principals?

• Reciprocation - we tend to return favors - so give in order to get.
• Scarcity- If its unavailable - I want it. Even perceived scarcity generates demand.
• Authority - If an expert says it - it must be true.
• Consistency - If people take even a small stand, they're likely to honor that commitment.
• Consensus - People look for 'social proof' of what others are doing.
• Liking - People are likely to buy from people they like.

Put us to the test, The Eisenlauer Team wants to be your local real estate experts. We're giving, we are unique, we can speak with authority because of our longevity in the Des Moines market. People like us and we're nice and dog-gone-it, nice is important. You'll like us. Ask your neighbor.

Bill Eisenlauer 770-2455 or Bob Eisenlauer 979-2883