Stats

LISTINGS Residential (Single Family & Condo)
March 8-14, 2010 758
Last Year 594
   
SOLDS  
Feb. 28 -March 6, 2010 205
Last Year  163
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IRS Clarifies What’s Needed to Claim Tax Credit

The Internal Revenue Service has clarified which documentation taxpayers need to submit to claim the first-time and move-up homebuyer tax credit.

While the IRS is still requiring the filing of Form 5405, it is not demanding that all parties’ signatures be on the HUD-1 settlement document in areas where requiring both the buyer and the seller to sign the document isn’t common.

The IRS clarification says: “In areas where signatures are not required on the settlement document, the IRS has clarified that it will accept a settlement statement if it is completed and valid according to local law. … The IRS encourages those buyers to sign the settlement statement prior to attaching it to the tax return.”

For repeat buyers, the IRS is seeking documentation that home buyers have lived in the previous property for a consecutive five of the past eight years. Proof can include property tax records, home owner insurance records, or mortgage interest statements.

Source: Washington Post (02/20/2010)

Statistics

LISTINGS Residential (Single Family & Condo)
March 1-7, 2010 696
Last Year 576
   
SOLDS  
Feb. 21 -27, 2010 215
Last Year  185
LISTINGS Residential (Single Family & Condo)
Feb. 22 -28, 2010 517
Last Year 513
   
SOLDS  
Feb. 14 -20 , 2010 131
Last Year  138

Statistics

LISTINGS Residential (Single Family & Condo)
Feb. 15 -21, 2010 451
Last Year 494
   
SOLDS  
Feb. 7 – 13, 2010 142
Last Year  130