John L. Scott Real Estate
Sunday, December 16, 2018
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Treasure Valley New Housing Market
Get an inside view of the Boise Idaho real estate market. Craig Groves writes on local market trends.
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Wednesday, June 22, 2011
What Shrinking Inventories Mean for Home Sales.
Posted by Craig Groves at 6/22/2011 7:37:00 PM
Friday, May 15, 2009

The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to purchase.

 
For Married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first time homebuyer tax credit.
 
HOWEVER…Unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter.
 
Additionally…Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first time home buyer.
 
So…for any financially or credit challenged first-time home buyers…it’s time to start working on your parents or grandparents to help you purchase your first home! They can even co-sign and be in title and you can still receive the tax credit! Win-win!
Posted by Craig Groves at 5/15/2009 11:45:00 PM
Thursday, November 15, 2007
Real estate mogul Donald Trump discusses whether now is the time to buy real estate, particularly properties in foreclosure, with CNBC's Erin Burnett.
Posted by Craig Groves at 11/16/2007 12:22:00 AM
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