Thousands of Dollars Could Slip Through Your Fingers!
The heat is on for those who are out shopping for homes right now – as the Homebuyers Tax Credit is about to come to an end. Last November, the government expanded and extended the new Homebuyers Tax Credit. According to the program, first-time homebuyers are eligible for a tax credit of up to 10% of the purchase price of the home, with a maximum credit of $8,000. And current homeowners are eligible for up to $6,500.

Although military personnel may qualify for a special extension, the vast majority of homeowners must have contracts in effect no later than April 30, 2010 and must close no later than June 30, 2010 to qualify for the credit. This means that homebuyers now have less than one week to get their paperwork going to qualify for this credit, before it goes away!

Here are some important details about this tax credit.
Dollar-for-Dollar Benefit: The benefit of a tax credit is that it’s a dollar-for-dollar benefit, rather than a “tax deduction” or reduction in tax liability that would only reduce $1,000 to $1,500 when all was said and done. So, if a first-time homebuyer who qualified for the entire benefit were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.
Even Better… It’s Refundable!
Remember, because it’s a tax credit, it’s refundable! That means a homebuyer can receive a check for the credit if he or she has little or no income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000!
What are the Income Caps?
Single tax filers with incomes up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers with incomes of $145,000 and above are ineligible. Joint filers with incomes up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers with incomes of $245,000 and above are ineligible.
What’s the Maximum Purchase Price?
Qualifying buyers may purchase a property with a maximum sales price of $800,000

(Taken from “Weekly Mortgage Market Update….Tyler Osby Team)

These were done by volunteers earlier today on Court Avenue.

For 12 years, Forbes has been ranking the Best Places for Business and Careers and, at the top of this year’s list, was Des Moines , Iowa . “ Des Moines favorable regulatory environment and well-educated workforce makes it an attractive destination for high-value-added, well-paying industries,” stated Sunayana Mehra, an economist at Moody’s Economy.com.

With a metro area comprised of 562,000 people, Des Moines business and living costs are more than 10% below the national average. In addition, 33 percent of adults are college educated, while 92 percent possess high school diplomas. The economic and housing outlook for Des Moines also looks bright. Employment rates are expected to increase 2.7 percent over the next three years and household incomes are projected to rise 2.9 percent.

Forbes gathered a variety of statistical data from over 200 cities, ranking them based on items such as business and living costs, past and projected job growth, educational attainment, projected economic growth and quality of life. For more information, please read the complete article published on Wednesday, April 14, 2010.

Editor’s Note: This was originally ran as an April Fools Joke, but what a great concept.

Des Moines is becoming the Art Capital of the Mid-West! This week it was announced that a new school for the arts would be created and moved into the Ruan Center with classes starting Fall of 2011. With Wellmark Blue Cross Blue Shield moving into their new headquarters this summer/fall, the 2nd tallest building in the city would have had a tremendous amount of office space come open on the market. Problem solved! A newly chartered school for the arts is taking over the space.

Organizers stated that the new school, to be called, the Des Moines School of Art & Design, will be headquartered in downtown Des Moines. The Ruan Center will become the new home for up approximately 1,000 students, with campus housing for 730 of them in the Ruan Center. Previous office space will be converted to dormitories for the students and the remaining floors will become educational classes.

The school will over Bachelors of Arts and Masters of Fine Arts in photography, graphic media, paint, film/video, visual arts, architecture and design. With tuition starting at $30,000 a year for off-campus students and $42,000 a year to

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