Extended and Expanded Tax Credit

Well after lots of hard work, we finally got the Tax Credit extended and (Thank you Congress!) expanded.  Not only do "first-time" homebuyers qualify for the tax credit, but now individuals who have lived in their homes for 3 years or more can get a lower tax credit (every little bit helps doesn't it!) for themselves.

This is very good news.  While I think there was the hope that the previous tax credit would stabilize the housing market, it appears that the new stimulus may actually stimulate the housing market, much like the Cash for Clunkers did for the auto industry.

Two things to remember ... these are TAX CREDITS!  They will be applied to your tax return and you aren't going to get a check from President Obama as so many people believe.  When you file your taxes you will get the tax credit ... if the government owes you $1250 on your taxes, then you will get that plus the housing credit.  If you owe Uncle Sam some taxes, then it will be deducted from the tax credit.

As always, please consult with a qualified tax professional to better understand the programs mentioned above.  I am not a tax professional and only providing information that has been provided to me that is deemed reliable but not warranted.  (Don't you love disclaimers!)

Dana Couch-Davis
Crye-Leike, REALTORS
901.570.6059

Time to Begin

This won't be a blog just about real estate ... although seriously that is the thing I am most interested in at this time.  I will be putting information out here about various things such as trends in the Memphis-Shelby County market, things that are happening in Memphis (this is one happen' town) and when I come across a great place to eat or shop I'll put that on here as well.

For those who haven't visited Memphis, it is one great town.  And I should know since I've lived in Atlanta, Washington, Baltimore, and Brussels during my lifetime.  Oh, by the way, I've lived in Memphis as well.  In fact, Memphis is where I grew up ... right over in East Memphis.

There's been a lot of good press about Memphis over the years and at times there is some bad press ... but all in all .... Memphis is a great place to live.  The city is host to a variety of cultural activities including various types of theatre, sports events (even if Iverson does leave the Grizzlies they still rock), and so many more things that you will want to participate in.  So I'm going to go out and seek these things out and will keep you updated about them.

So welcome to my hometown, Memphis, TN.  Lots of people have and do call Memphis home.  Among them was Elvis Presley, baseball legend Tim McCarver, actress (and one of my favorites) Cybill Shepherd, Dixie Carter went to school here, John Dye of Touched by an Angel was also a student in Memphis, W.C. Handy, all of those Blues artists that used to sing and perform on Beale St. and later at Blues Alley, and so many others.

Welcome to Memphis ... also known as the Bluff City ... River City .... and the Home of the Blues!