Real Estate

Hello and welcome to This Month in Real Estate. Im Jay Papasan.

The First Time Homebuyer Tax Credit has been extended and expanded, and the details can be found in our most recent special edition.

For December, we take a look at the results the incentive had on stimulating home sales since 2008.

According to the IRS, about 1.4 million people have taken advantage of the first time homebuyer tax credit.

Not surprisingly, California ranks number one with the number of people filing a claim for the tax credit, while Alaska and Wyoming are among the states with the fewest number of claims.

But those numbers dont tell the whole story. For more, we go to Bryon Ellington. Bryon?
Bryon: Thanks, Jay.

According to the Internal Revenue Service, every state in the Union has participated in the First Time Home Buyer Tax Credit.

If we look at the results according to the total number of claims, heres how the rankings shake out:

California is number one with more than 160 thousand tax payers taking advantage of the first time home buyer tax credit.

Texas is number two with over 131 thousand.

And Florida is number three with over 105 thousand.

But when we look at the data in terms of per capita claims, or the percentage of folks in each state who took advantage of the tax credit, we get radically different results.

Heres a look at the top three in terms of per capita participation in the tax credit

Nevada is in the number one position with more than 20 thousand claims out of a population of 2.6 million.

Utah is in the number two position with over 17 thousand claims out of a population of 2.7 million.

And Arizona is in the third position with over 38 thousand claims out of a population of 6.5 million.

Whats more, we find Alaska moving from near the bottom of the rankings to number 26 above California! And Wyoming, the least populated state in the U.S., moves to number 16. Thats just a bit behind Texas in terms of per capita tax payer participation.

Back to you, Jay

Jay: Thanks, Bryon. Thats it for This Month in Real Estate. Thank you for joining us.

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http://www.SunwestTrust.com, 800-642-7167, Self Directed IRA Custodian is known for its diversified business interests. These include self-directed IRAs that allow clients to invest their IRA in anything that the IRS will allow such as Real Estate, Mortgages, Limited Liability Companies and Private Stock. In addition to Escrow and IRA businesses, Sunwest also acts as a facilitator for 1031 tax deferred exchanges for real estate.

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Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across the nation. The aim of the consumer-oriented segments is to help agents combat the “doom and gloom” messages of the national print and television media with real information on real estate.

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Feb. 25 (Bloomberg) — Martin Cohen, co-chief executive officer at Cohen & Steers Inc., talks about the state of the commercial real estate market. (Source: Bloomberg)

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Feb. 17 (Bloomberg) — Craig Donohue, chief executive officer of CME Group Inc., talks with Bloombergs Erik Schatzker about growth opportunities in real estate and “green” products.
Donohue also discusses the outlook for investing in emerging markets, the potential opportunities in over-the-counter derivatives and the prospects of future mergers and acquisitions. (Source: Bloomberg)

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Feb. 12 (Bloomberg) — Nicholas Consonery, Asia specialist at the Eurasia Group, talks with Bloomberg’s Matt Miller and Carol Massar about China’s efforts to cool its economy.
Chinas central bank took the second step in a month to restrain inflation and damp asset prices, ordering lenders on the eve of a weeklong holiday to set aside larger reserves. (Source: Bloomberg)

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Digital Realty Trust Inc. (DLR) can get your pants off.

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Some stories that were a bit odd this past week. One correction: I misquoted the Judge in the second story. It should be correctly stated that the Judge said, “People are genuinely scared of sudden explosions.”

Music, used with permission – Kevin Macleod.

Images via Google Image Search.

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http://inflation.us/

After doing research on Loan Modification Default Rates and Shadow Inventory Rates i am in shock. This is very serious people. I feel very bad for all the responsible people who have been paying on their loans like clockwork hoping to use equity to subsidize their retirement. Can anyone say “poof”

Links
http://www.mgic.com/servicing/hamp_gse.html

http://mhanson.com/archives/242

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Onestopview.com News blogs on Real Estate and worldwide economy.
Free video property tours.

blog, facebook property, ftse, house prices, housepricecrash, nationwide, onestopview, primelocation, property price fal

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