Latest News
First Time Home Buyers are my specialty!
Wedneday March 17, 2010 4:23pm, by Dennis Drozd
Did you know my specialty is educating and working with first time home buyers? It may all seem very overwhelming but I can assure you it's not. I'll give you simple and straight forward answers to all of your questions. Feel free to call and ask me about any aspect of home buying or selling. There is no obligation, just my free advice. So go ahead and call me, Dennis Drozd with RE/MAX 310-402-4332. Look forward to hearing from you.
$8000 tax credit expires soon!
Wedneday March 17, 2010 4:08pm, by Dennis Drozd
The federal tax credit for home buyers was extended and expanded late last year. Qualified first-time buyers may be eligible to receive a tax credit of up to $8,000 on homes purchased before April 30, 2010. Repeat buyers may be eligible for a tax credit of up to $6,500. Visit for more information about the federal tax credit for home buyers, including eligibility requirements.
Source: CAR
SOLD in 9 Days! - Hollywood Hills Modern Ranch
Tuesday March 24, 2009 9:18pm, by Dennis Drozd
This completely designer remodeled home located in the Hollywood Hills features 2 bedrooms + 2 baths + 2 car garage, 1312 sf. of interior living space, ample private outdoor living space, 9030 sf. corner lot nestled on a private cul-de-sac. Stunning eat-in kitchen with granite counters, brand new stainless steel appliances, travertine floors and 42" custom cabinets. Wood floors and...Read more »
FHA Loan Limits Increase to $729,750
Friday February 27, 2009 5:00pm, by Dennis Drozd
The Federal Housing Administration (FHA) single-family loan limits have been revised as a result of the American Recovery and Reinvestment Act of 2009 (ARRA). The new loan limits, reflecting an increase from $625,500 to a maximum of $729,750, are effective for those loans for which credit is approved in 2009 and will remain in effect until Dec. 31. Call Maria at 818-571-6368 for more details.
Source: CAR
Up to $8,000 Tax Credit Available for 2009 First-Time Homebuyers
Thursday Febraury 26, 2009 4:29pm, by Dennis Drozd
WASHINGTON — The Internal Revenue Service announced today that taxpayers who qualify for the first-time homebuyer credit and purchase a home this year before Dec. 1 have a special option available for claiming the tax credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year.
Qualifying taxpayers who buy a home this year before Dec. 1 can get up to $8,000, or $4,000 for married filing separately.
“For first-time homebuyers this year, this special feature can put money in their pockets right now rather than waiting another year to claim the tax credit," said IRS Commissioner Doug Shulman. “This important change gives qualifying homebuyers cash they do not have to pay back.”
The IRS has posted a revised version of Form 5405, First-Time Homebuyer Credit, on IRS.gov. The revised form incorporates provisions from the American Recovery and Reinvestment Act of 2009. The instructions to the revised Form 5405 provide additional information on who can and cannot claim the credit, income limitations and repayment of the credit.
This year, qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.
The amount of the credit begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.
For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase.
The IRS also alerted taxpayers that the new law does not affect people who purchased a home after April 8, 2008, and on or before Dec. 31, 2008. For these taxpayers who are claiming the credit on their 2008 tax returns, the maximum credit remains 10 percent of the purchase price, up to $7,500, or $3,750 for married individuals filing separately. In addition, the credit for these 2008 purchases must be repaid in 15 equal installments over 15 years, beginning with the 2010 tax year.
Source: IRS
Dennis' interview with ABC News
Thursday November 13, 2008 8:59am, by Dennis Drozd
A special thanks to Brad for giving me the opportunity to share my thoughts on the market.
Foreclosure Moratoriums.mp3(543kbs)
Qualify For A Loan.mp3(436kbs)
Verifying Income.mp3(460kbs)
The accuracy of all information, regardless of source, is deemed reliable but is not guaranteed and should be independently verified. The information at this site is provided solely for informational purposes and does not constitute an offer to sell, rent, or advertise real estate outside the state in which the owner of the site is licensed.
