Home Buyer Tax Credit Ends on April 30th 2010

Grand Bay Building and Remodeling wants you to take note: The first time home buyer and repeat buyer tax credits are nearing their expiration date. We know that time flies by and things get put on the back burner until it's too late. Don't let that happen to you if you are interested in buying your first home. Along with the $8,000 first time credit is an amzing $6,500 credit for repeat buyers. This is great news if you are considering purchasing another home.

As mentioned in the following statement from the National Assocaition of Home Builders, The contract needs to be signed by April 30th but the actual sale of the home needs to be closed by June 30, 2010. So there is still time... don't miss this opportunity.

NAHB REMINDS HOME BUYERS: TAX CREDIT EXPIRING SOON
WASHINGTON, March 4 - The National Association of Home Builders (NAHB) wants potential home buyers to be aware that they still have the opportunity to take advantage of the $8,000 first-time home buyer or $6,500 repeat buyer tax credits, as long as they act quickly--the credits expire on April 30, 2010.

"It's not too late to take advantage of the home buyer tax credit," said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, Mich. "There are plenty of existing homes on the market, and even though the move-in ready newly constructed homes inventory has dwindled, builders may still be able finish a home in time."

The IRS provides an additional two months beyond the deadline to close the deal. Buyers who sign a sales contract by the April 30 deadline are still eligible if they close the sale of the home by June 30, 2010.

More people than ever before are eligible for a home buyer tax credit, NAHB estimates that close to 70 percent of all potential buyers should qualify for some form of a credit.

"First-time" buyers don't have to be buying their first home ever; they are defined by the IRS as those who have not owned a principal residence in the past three years. Repeat buyers may be eligible for a new $6,500 credit, as long as they have owned and lived in their current home at least five consecutive out of the past eight years.

The current credits also increase the income limits, enabling single taxpayers with incomes up to $125,000 and married couples earning up to $225,000 to potentially qualify for a full credit.

NAHB's Web site at www.federalhousingtaxcredit.com, which has received more than 6.5 million visitors since the site launched, provides basic information about the credits, detailed question and answer sections, and links to additional home-buying resources for consumers.

"If you've been considering buying a home for any reason, the home buyer tax credit, in addition to historically low interest rates and competitive home prices, make it an ideal time to buy," said Jones.


Our weather this week in Traverse City continues to be beautiful - blue skies and sunshine. It's perfect to check out local available real estate.

Remember- after you find that perfect home, Contact Nancy at Grand Bay Building and Remodeling ph. 231 995 9057 to put the final touches on your purchase to really make it your own.

Traverse City MI Home Expo Feb 27 and 28th 2010

Spring must be on the way it's time for the annual Home Expo sponsored by the HBA of the Grand Traverse Area. Grand Bay Building and Remodeling's booth is located in the main lobby area #311. We will have sign up available for various seminars that we are offering in the upcoming weeks


Victor has a seminar on Sat. Feb 27 10:30 am in the meeting room area of the Expo:
Let's Talk Budget. He'll explain why we don't like to dance around the topic.

Also, new this year- the Home Builders have a wonderful playhouse as a door prize. Any one who attends the Expo can win!!

We know it's great - Victor and I put many hours into making this happen. The house was built in sections so that it can be taken apart and moved- that's how it fit inside the school for this event.

Sat Feb 27 9am - 6pm
Sun Feb 28 11am-4pm

TC East Middle School 1776 3 Mile Rd N TC MI 49686

www.hbagta.com

Grand Traverse Area Women Build Lowe's Clinics

As a woman builder with Grand Bay Building and Remodeling, I was excited and honored to be asked by the Grand Traverse Area Habitat for Humanity to participate as the House Lead in the 2010 Women Build taking place in Leelanau County this spring and summer 2010. We are kicking off the build on site May 1st. In anticipation of the number of women interested in participating, classes are being offered at Lowe's so we can all hit the hammers running...

The first class is Saturday March 6th at the Lowe's in Traverse City. Read the following press release for all the info:



Press Releaase
Lowe’s of Traverse City to Offer FREE How-To Clinics for Women, In Preparation for Nation Women Build Week (May 1-9).

For women who want to build a village, but don’t know where to start, Habitat for Humanity-Grand Traverse Region and Lowe’s of Traverse City have the answer. As the 2010 underwriter for Habitat for Humanity International’s Women Build program, Lowe’s is hosting how-to clinics at its Traverse City store to help prepare women volunteers to build a Maple City area house this spring.

The free clinics not only teach women home construction basics, they provide extensive hands-on opportunities to practice these new skills. Each of the clinics will help educate the volunteers on basic construction and tool safety techniques, enabling them to be confident and effective in their volunteer efforts with Habitat for Humanity. Among other things, women will have the opportunity to practice using power tools, framing walls and installing drywall.

Clinics will take place at Lowe’s of Traverse City on the following dates:

How to Safely Use Hand and Power Tools & Saturday, March 6th

How to Frame for Walls and Roofs 9am-11am



How to Install Exterior Siding & Saturday, March 20th

How to Install Roofing Shingles 9am-11am



How to Install Insulation and Drywall & Saturday, April 3

How to Finish Interior with Paint and Trim 9am-11am

How to Safely Use Hand and Power Tools & Saturday, April 17th

How to Frame for Walls and Roofs 9am-11am



To sign up for the clinics or to learn more about Habitat for Humanity’s Women Build program, interested volunteers should contact HFH-GTR at 231.941.4663. PLEASE REGISTER IN ADVANCE. Registered volunteers should wear comfortable clothing and bring a ready-to-learn attitude. All supplies will be provided on site.

Lowe’s is a national partner with Habitat for Humanity International and is the underwriter of Habitat’s Women Build program, which actively engages women in construction to address the problem of substandard housing.

With Lowe’s support women are redefining home making by building homes that move families out of substandard housing. Women Build is a program of Habitat for Humanity International. Lowe’s, a Fortune 50 company with more than 58 years in the business of home improvement, is the Women Build underwriter. For more information about Habitat for Humanity International’s Women Build program, visit www.habitat.org/wb.



National Women Build Week is May 1-9. Construction for the Sandra M. Schlueter Memorial Women Build will begin on Saturday, May 1st. For more information or to sign-up for a Lowe’s Clinic, contact: Carrie Ullery-Smith at: 231.941.4663 or at: cullerysmith@habitatgtr.org



- About Habitat for Humanity-Grand Traverse Region -



Habitat for Humanity-Grand Traverse Region, serving Grand Traverse and Leelanau counties, is a locally run affiliate of Habitat for Humanity International - a nonprofit, ecumenical Christian housing organization.



Habitat for Humanity works in partnership with people in need to build and renovate decent, affordable housing. The houses then are sold to those in need at no profit and with no interest charged. Volunteers provide most of the labor, and individual and corporate donors provide money and materials to build Habitat houses.



Partner families themselves invest hundreds of hours of labor - sweat equity - into building their homes and the homes of others. Their mortgage payments go into a revolving Fund for Humanity that is used to build more houses.



Habitat for Humanity-Grand Traverse Region also operates a ReStore that sells new and used building materials, household items and fixtures. The ReStore is open to the public Monday - Saturday and is located at 1129 Woodmere Ave in Traverse City.

For more information about Habitat for Humanity-Grand Traverse Region, call 231-941-4663 or visit www.habitatgtr.org.

In addition, volunteers are invited to visit www.habitatvolunteer.blogspot.com and can follow Habitat for Humanity-Grand Traverse Region on Twitter at www.twitter.com/hfhgtrvolunteer.

I'm looking forward to meeting some awesome women, Nancy Lisabeth, Grand Bay Building and Remodeling 231 995 9057

Positive Trends at 2010 Builders Convention in Las Vegas

Builders are back from Convention with renewed spirits for the coming season. Over 50,000 converged on Las Vegas for the 2010 Internation Builders Show - IBS. Professional builders are survivors and we are primed and ready for the start of the recovery. NAHB's chief economist David Crowe stated that he thinks ths Recession is over--Yeah!! Apparently it may not be as strong of a recovery as we really want but it will be a recovery.

He and several economists mentioned some positive trends for 2010: low interest rates, stabilized home values and strong home affordability.

As a builder and remodeler for many years, we at Grand Bay Building and Remodeling have seen the cycle of the market many times. As optimists, we are encouraged by the signs and activity in our Traverse City, Michigan market. New home construction may be slowed but remodeling is continuing to happen. As home values stabilize -which is the economists' trend prediction, there really is no better time to remodel. Builders, suppliers and trades are ready to embrace your project with renewed energy.

Now is a perfect time to discuss your project and have it ready to roll with the mild weather. Call me: Nancy Lisabeth at Grand Bay Building and Remodeling 231-995- 9057

Lead Paint- Was Your Home Built Before 1978?

The EPA is in the process of enacting new regulations regarding lead paint and the remodeling of homes bulit before 1978. It has long been known that young children should not be exposed to lead paint. Paint in older homes is a common source of lead paint exposure.

In about six months, new lead paint regulations will be going into effect. Grand Bay Building & Remodeling is following this issue very closely as it will effect remodeling work that we do on pre 1978 homes. This new regulation will apply to disturbed areas of more than 6 square feet of interior painted surface or 20 square feet of exterior surface- pretty much any remodeling project done on a pre 1978 home.

We know that remodelers will be required to use lead-safe work practices as defined by the Lead Renovation,Repair and Painting Program Rule. So,in the next few months,Grand Bay Building & Remodeling will have someone on staff becoming certified by an EPA-certified trainer.

Estimates for how much this will add to the cost of the average project are not yet determined. We in the industry will have a better understanding of the requirements once we are certified. Then, the remodelers and trade associates will be able to determine the economic impact of the regulation for the consumer.

Once the rules are proposed, they will be posted at www.epa.gov and open for public comment before becoming final.

I'm sure we will be hearing more about the lead paint issue in the coming months,
Nancy Lisabeth, Grand Bay Building & Remodeling in Traverse City, MI 231 995 9057

Tax Credits For Nearly 70% of New Home Buyers With New Law

What great news for both new home buyers and the construction industry. When the President signed the tax credit extension on Nov 6th, he certainly gave the housing industry a shot in the arm.

It's been estimated that nearly 70% of all potential home buyers should qualify for some type of credit. It's now available for move-up buyers, move-down buyers and those who have previously owned a home.

As recently stated in an erelease by the NAHB: "A leading source of consumer information on the tax credit is NAHB's Web site at www.federalhousingtaxcredit.com, which saw a huge increase in visits in the days after the new law was signed. It provides basic information about the first-time and repeat buyer credits, detailed question and answer sections, and links to additional home-buying resources for consumers.

NAHB estimates that the home buyer tax credit will create 211,000 jobs and generate 180,000 additional home sales in the coming year. It is also expected to generate $9.6 billion in wage income and $6.9 billion in federal, state and local taxes."

I think that this recreation of jobs which have been lost will be a strong beginning for the resurgence of an industry which means so much to the national economy.
Nancy Lisabeth - Grand Bay Building and Remodeling LLC

Update on Home Buyer Tax Credit Extension

Good news! The extension has passed 2 votes by a huge margin and will now face a final vote- late Thursday Nov 5th. Then- it's on its way to the House and the President's desk.

This extension appears to be an expanded version of the first credit. The proposal will provide the $8,000 tax credit for first-time home buyers and up to $6500 for move-up buyers who have been in their current principal residence at least 5 years. Incomes should be adjusted as well increasing to $125,000 for an individual and $225,000 for couples filing jointly.

This would be great news for the home construction industry as it begins to recover. As we have come to know- HOUSING equals JOBS!! and the country could sure use more of those.

Contact your Senator to voice your support of the Tax Credit Extension- by Nancy Lisabeth, Grand Bay Builders ph. 231 995 9057