Home-buyer tax credit: Do you meet the time limit?
By David Grant | 11.06.09
When President Obama signed an extension and expansion of the home-buyer tax credit into law Friday, he gave Realtors, homebuilders, and prospective home buyers a reason to cheer.
But the legislation also has many Monitor readers asking questions about whether or not they can take advantage of the offer — a tax incentive of up to $8,000 for new home buyers and $6,500 for those who have lived in the same home for five or more of the last eight years (more on this in a second).
On to the questions, with special thanks to Robert Dietz, an economist with the National Association of Home Builders (NAHB), for his expertise.
1. Michele: “My husband and I sold our house, which we resided in for 5.5 years in April and we have been renting since. We would have an offer on a house now (short-sale) so may not close until February. Would we qualify? As we are not currently owners, but renters. It’s a little confusing with some of the wording, when it says ‘you must have occupied the home you owned for 5 of the last 8 years.’ This almost seems to include renters, as well.”
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After dismal jobs report, unemployment rate could hit postwar high
By Laurent Belsie | 11.06.09
It’s beginning to look like America’s unemployment rate is going to get worse before it gets better.
That’s a political problem. Now that the rate is officially in double-digits, the pressure is certain to build on President Obama and Congress to find ways to create new jobs. Economically, however, the picture isn’t quite as scary as it looks.
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Home-buyer tax credit: more questions answered
By David Grant | 11.06.09
When Congress moved extended the first-time home-buyer tax credit Thursday, it also allowed existing homeowners to participate in the program. After reporting on who the new program would help, readers already in the process of selling and buying homes had questions. Although we don’t know the specifics of any particular case, here are some answers based on general principles.
Jorge: “When does the program start? I already signed a contract, it closes in December & have owned our house for 11 yrs…. Do we qualify for the $6,500 credit?”
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What the $6,500 homebuyer tax credit means for you
By David Grant | 11.05.09
For answers to several questions raised by comments and questions on this article, see our subsequent report.
During the first round of the government’s homebuyer tax-credit program, only first-time purchasers could qualify for up to $8,000 in tax credits. But this time, many current homeowners could get in on the deal, too.
On Thursday, the House and Senate passed an extension of the popular homebuyer program that would allow people who have owned their homes for at least five years to buy a new home and get up to $6,500 off their tax bill. Why the switch?
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Unemployed? This week’s Top 7 job offers
By David Grant | 11.05.09
Got the skills to be a full-time e-mail czar? What about making sure that all of Idaho’s anadromous salmonids are looked after? Or you could help crush cars. We’ve got a little bit of everything, from Phoenix to Danbury, Conn., in this week’s top jobs.
1. E-mail Czar
Employer: Village Voice Media.
Wages/salary: Not listed.
Details: Needs a candidate who will “eat, sleep and drink email” and increase Internet subscriptions from 750,000 to 2 million. Ideal candidate will be a “goal driver, possess strong creativity and revenue producing marketing ideas and the strongest of communication skills.”
Location: Phoenix, Dallas, Denver.
2. Entry Level Sales - Master Cutlery
Employer: Master Cutlery.
Wages/salary: $40,000-$50,000
Details: Salesperson will be challenged to identify new accounts, reactivate inactive accounts and grow existing business for a company best known as a manufacturer and distributor of “top quality swords, tactical and hunting knives.”
Location: Secaucus, N.J., (pop. 15,931, median family income $72,568) hosted the 2009 WNBA draft in April.
3. Deputy Columbia/Snake Salmon Recovery Program Manager
Employer: Bureau of Reclamation
Wages/salary: $80,402-$104,525
Details: Responsible for assisting in “administering and implementing the Pacific Northwest region’s endangered species activities.” The position’s primary responsibility is to “oversee implementation of actions required by Biological Opinions and related documents for Endangered Species Act listed species, particularly anadromous salmonids.
Location: Boise, Idaho, (pop. 203,818, median family income $64,519) is home to the Basque Museum, the only one of its kind in North America.
4. Animal Food Preparer
Employer: San Diego Zoo
Wages/salary: $11.42-$12.93 per hour
Details: Essential functions of this position include the preparation of food for the bird collection, chopping various fruits and vegetables, handling insects, fish and other food items as well as washing bird trays. Selected applicant will be required to maintain live forage items such as mice, lizards and insects.
Location: San Diego (pop. 1,264,263, median family income $72,407) is home to the University of California - San Diego, whose mascot is the “Triton.”
5. Auto Dismantler
Employer: Tolpa’s Auto Parts
Wages/salary: Not listed.
Details: After the “cash for clunkers” program, auto parts store needs immediate assistance to meet government required mandate of 180 days to crush all vehicles.
Location: Remsen, N.Y, (pop. 1,958, median family income $41,042) is the home of world-class luger Erin Hamlin, who won the 2009 World Luge Championship, the first American to have done so in 16 years.
6. Brain Trainer
Employer: Learning Rx
Wages/salary: $15-$20 per hour.
Details: Are you sharp, smart and quicker than your peers? Need trainers to work with adults and kids 4-5 days a week during afternoons and evenings.
Location: Chester, N.J., (pop. 7,282, median family income $133,586) was once known as “Black River,” although the Chester Historical Society attests that no one knows when the name was changed.
7. Professional Superhero
Employer: 7 Promotions Inc.
Wages/salary: Not listed.
Details: Looking for an Account Manager to add to an “illustrious team of overachievers” at one of the “fastest growing privately owned sales and marketing firms in Westchester County,” Conn.
Location: Danbury, Conn., (pop. 78,575, median family income $76,492) was where singer Tracy Chapman spent her youth and graduated from high school.
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— David Grant is a Monitor contributor. For last week’s intriguing offers, click here. And follow us on Twitter.
