Real Estate in the Finger Lakes of NY

Shari Landsman, Licensed Real Estate Salesperson and EcoBroker at RE/MAX In Motion in downtown Ithaca has earned the National Association of Realtors (NAR) Green Designation.

The NAR Green Designation is a real estate designation that helps real estate professionals be an advocate for green principles in the design and use of homes and a positive force for creating sustainable communities.

The designation also provides real estate professionals with knowledge and awareness of green building principles applied in residences so that they can guide buyer-clients in purchasing and retrofitting green homes as well as help sellers by listing and marketing the green features of their properties.

Shari's knowledge and awareness of green building principles enhances her ability to help local home buyers and sellers who want to or have been thinking about going green.   This is the second green designation for Shari; she earned her EcoBroker's certification last year.

To learn more about going green with real estate please visit www.greenresourcecounsil.org and to learn more about Shari Landsman, visit www.ShariLandsman.com

RE/MAX in motion is a full service Real Estate Brokerage that serves Tompkins, Tioga, Cayuga, Seneca, and Schuyler Counties. www.REinMotion.com

Everywhere you turn, it's first time home buyer tax credit this and tax credit that.   So even in my fear of "beating a dead horse"   (I don't like that phrase - I'm a fan of horses) overkilling the subject there are some nuances and requirements for first-time home buyers to qualify for the tax credit, such as...

Did you know that you must 'close' on your home no later than December 1, 2009?  That means property needs to be transfered into your name by Dec. 1, 2009.   And where I practice real estate (Ithaca NY) getting to the closing table takes at least 45-60 days.  Just to be even clearer, that's AFTER a purchase offer has been signed and accepted.   So please don't wait until October to start looking for a home, you are only hurting yourself!

Did you know that a first-time home buyer is someone who has not owned a home in the past 36 months? (i.e. 3 years)  Yes, that's right!  If you were a home owner and then sold your home 3 years ago you can still qualify for the credit!  DISCLAIMER! according to the IRS they are checking actual closing date to closing date.  For example if you closed on your home June 1, 2006 and are scheduled to close on your new home June 2, 2009 you will qualify - congratulations.   IF you sold your home July 1, 2006 and are scheduled to close on your new home June 30, 2009 - you do not qualify. 

Did you know if you 'bought' your home from a relative that you do NOT qualify for the tax credit?  That's right, the IRS deems non-arms length sales (meaning between relatives, not strangers) unqualified for the tax credit.

I suggest consulting with your tax preparer for all the details on the tax credit and for help with buying your first home, I would like to suggest contacting me!

Lindsay Hart is licensed real estate agent @ RE/MAX In Motion, not a tax advisor.  Please consult your tax professional if your situation is unique.