With a steady stream of service members relocating to and from NAS JRB New Orleans and NSA New Orleans, it’s important for you to know that military home buyers with a period of duty outside the United States can still qualify for the tax credit provided you meet the following criteria:

From Federal Housing Tax Credit site:

Extension of Tax Credit Deadlines

• The home buyer tax credit is available for qualified purchases with a binding sales contract in place on or before April 30, 2010 and closed by June 30, 2010.
• However, for qualified service members who are ordered on a period of official extended duty, these dates are extended for one year. For these home buyers, the tax credit applies to sales with a binding sales contract in place on or before April 30, 2011 and closed by June 30, 2011.
• A person who is forced to return to the U.S. for medical reasons before completing an assignment of at least 90 days of qualified official extended duty outside of the United States may qualify for the one-year extension.

Definitions

• “Qualified service member” means a member of the uniformed services of the US military, a member of the Foreign Service of the US, or an employee of the intelligence community.
• “Official extended duty” means any period of extended duty outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010.

More information about the Federal Tax Credit

For more information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please

Take a driving tour with me of the Point and I bet you’ll fall in love as well….

If you don’t see the video displayed above, please click here

More information about Algiers Point

I was recently in San Diego and Newport Beach and I have to say that I was hard pressed to leave.  It’s a stunningly beautiful place and the weather is exceptional – it’s no wonder that real estate is so expensive there.

Moving anywhere new always brings at least a little bit of culture shock…from the different weather to the strange local customs and food.  Although, I have to say that I think you’ll enjoy our seafood a lot more than we enjoyed what they served in California.  No offense, but adding a little seasoning wouldn’t kill anyone there, would it?

Anyway, as you prepare for your move, it’s always a good idea to do a little research about your new city.  Since you’ve probably already heard the stories about Mardi Gras and the French Quarter, it’s up to me to let you know a few things you might not have been told.

• Despite our reputation for debauchery, New Orleans is a kid friendly community with plenty of fun to be had by families.  From the world class zoo and aquarium to the festivals that are held all around the city and in the adjoining parishes, there is always something to do to combat the dreaded “I’m bored….”
• Culture abounds in New Orleans, with an active arts community including the oldest opera association in the United States.
• Outdoor activities such as camping, hiking and canoeing are all available in the area when you know where to find them
• The weather in New Orleans is a far cry from what you are used to in San Diego.  While April and October offer some of the most beautiful days in the city, the rest of the months can be a little challenging.
• When compared to southern California, we have very affordable homes.  Before deciding on a housing budget, be sure to check your 2010 BAH Rates.

And, if all else fails, the beach is only a couple of hours away….

It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!

The one thing that stood out to me when house hunting was that most of the homes were pretty much the same from neighborhood to neighborhood.  There seemed to be about a half dozen floor plans that all looked the same from the outside and were all finished the same on the inside.   I mean, really, how many times can you look at the same old, same old and get excited about the thought of putting your roots down there?  I even asked the agent who was helping us “where are the houses that have some character?”

If you are looking for a home that goes beyond the traditional subdivision and isn’t part of the McMansion set that seems to be the rage in new construction, consider expanding your search to a home in one of the historic neighborhoods on the West Bank of New Orleans.

There are certainly pockets of older homes sprinkled across the area, but the biggest concentration of historic housing on the West Bank is in Algiers Point and the City of Gretna.  Homes with beautiful wood floors and original pocket doors.  Homes with fancy trim and brackets and columns framing front porches that are made for sitting and people watching.  Homes that were built with pride by craftsmen, not by a construction crew waiting for the whistle to blow and end the day.

Owning an older home certainly comes with its own challenges.  If you can’t stand the thought of a drafty window or can’t live without a double car detached garage, then you might not be happy with a house that is living, breathing, and needs to be loved and maintained.  If, on the other hand, you swoon over transoms and fireplace mantles and gingerbread trim…a historic property might be just the right place for you to call home.

Are you relocating to or from the New Orleans area or NAS JRB New Orleans?  The West Bank Living Team would love to assist you with any of your real estate needs.  Different by design, we offer the services of both buyer and seller specialists who are dedicated to representing you and only you during your purchase or sale.  Contact us for more information about homes for sale on the West Bank or for a free, confidential market analysis of your home.

Here are details on the new credit, courtesy of the National Association of Realtors:

Who Qualifies for the Extended Credit?

• First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
• Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Is Available?

The maximum allowable credit for first-time home buyers is $8,000.

The maximum allowable credit for current homeowners is $6,500.

How is a Buyer’s Credit Amount Determined?

Each home buyer’s tax credit is determined by two additional factors:

1. The price of the home.
2. The buyer’s income.

Price

Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income

Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009,  single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount of the credit will be recouped on the sale.

More Tax Credit Information from the National Association of REALTORS:

The Basics: Extended Home Buyer Tax Credit

How to Get: Extended Home Buyer Tax Credit

2009 First-Time Home Buyer Tax Credit

How to Get: 2009 First-Time Home Buyer Tax Credit

Timeline

Getting the Credit

How to Get the Extended Home Buyer Tax Credit

Applying the Credit to Your 2009 or 2010 Return

Determining Your Credit Amount: Form 5405

Bridge Loans: How to Get the Credit Upfront

NAR Tax Credit Resources

Tax Credit Comparison Chart (PDF: 455K)

Home Buyer Tax Credit FAQ (PDF: 596K)

President’s Podcast: Tax Credit Expanded and Extended

Please note that I am not a tax professional.  If you need more specific information about how the tax credit can benefit you or how to file for your credit, please contact your personal tax professional or the Internal Revenue Service.

If you are considering buying a home on the West Bank of New Orleans, please contact the West Bank Living Team and let us tell you how we are different by design, with dedicated buyer and seller agents who work for YOU.  It would be our pleasure to assist you with any of your real estate needs.

While the typical visitor takes in the sights and sounds of the French Quarter and eats their way through the city until they are ready to pop the buttons off of their pants, residents know that the New Orleans and the surrounding areas have so much more to offer.

Cultural Events.  Did you know that New Orleans is home to the oldest American opera association?  Or that if you’ve heard enough jazz for the day, you can take in a performance by the symphony?  If you prefer a little dancing with your music, the ballet would make a perfect night out as well.

Read more about the many cultural events in New Orleans.

Festivals and fairs.  I don’t think there is a person in the city who doesn’t attend at least one or two festivals a year.  Whether it’s a fundraising event for a local school,  a food festival, or the big daddy of them all, the New Orleans Jazz and Heritage Festival, your calendar can quickly be filled to overflowing with the large number of events that are scheduled throughout the year.  2009 New Orleans Festival Calendar

Family friendly fun. A common misconception is that New Orleans is not a kid friendly town.  Au contraire!  We have a wide variety of things to do and places to go that are not only family friendly, but designed specifically with the kids in mind.  Family activities in New Orleans

Military specials.  For military personnel being transferred to New Orleans, there are even some extra special on base activities just for you!  One of the most fun is the Welcome Home Troops Parties that are held at NAS JRB New Orleans on a regular basis.  The parties will continue until every single serviceperson returns home.

This is just the tip of the iceberg!  It’s no wonder that New Orleans was honored as a cool city…and that’s why I’m still proud to call it home.

Relocating to New Orleans? The West Bank Living team would be thrilled to help you find the right place to call home.

Copyright 2009.  West Bank Living.  All rights reserved.

Unfortunately, I could not help him.

Since he already has an agent who showed him property and wrote his offer, I referred Joe back to her.  His response? “This is only the third contract she has ever written and she doesn’t know what to do”.

While I have all the sympathy in the world for Joe, there was nothing I could do beyond advise him to go to his agent’s broker for assistance (something the agent should have done if she was over her head!).

All too often, out of town buyers and military relocations have no way of determining if the local agent they are choosing to work with is knowledgeable about an area and savvy enough to get them to a successful closing.

When people decide to sell their homes, they generally spend some time researching and interviewing agents to find one that specializes in their neighborhood and has the skills to best represent them.  They ask friends and family for referrals to agents they have used and been happy with.

So why, as a home buyer, would you not spend a little time doing that same research to find a good buyer’s agent?

If you don’t have anyone local to give you a referral to a great West Bank REALTOR, here are a few tips for choosing an agent to represent you in your next relocation home purchase:

• While you are cruising through all of the online listings looking at homes in the community you want to live in, note the names of some of the active, local agents and google them.  Which ones are easy to find and which ones are invisible?  Even a new agent should have a website with community information on it.
• Search online for information on your favorite West Bank neighborhoods.  Is there an agent who is providing good information about it?
• Once you have a few names, give each of them a call or send an email and explain your wants, needs, budget and time frame for relocating.  How do they respond to you?  Do they answer the phone or never call back?  Do they respond quickly to email or is it the next day before you hear from them?  Above everything else, you need to feel comfortable communicating with your REALTOR and know that they will be available to you.
• Narrow your choices to one agent and work with them exclusively. Many people think that by working with multiple REALTORS they will find a home faster.  Not true.  All agents have access to the same information – it’s what they do with that information that sets them apart from each other.

If you have questions about relocating to the West Bank of New Orleans, it would be my pleasure to help.

Related posts:

• Real Estate Talk for Buyers
• Relocating to New Orleans and the West Bank

Copyright 2008.  Lisa Heindel and West Bank Living.  All rights reserved.

While a PCS is just a normal part of being in the military, it doesn’t make your upcoming move any easier or less stressful.  After choosing the right West Bank agent to help sell your home, the next most important choice you have to make is determining who will assist you in finding a new home in your new community.

If you are relocating from the West Bank to another part of the country, I can help you find just the right REALTOR in your new destination.  As part of a nationwide network of agents who are dedicated to assisting military families with their relocations, I have contacts who specialize in the areas surrounding major military bases from coast to coast (and Alaska and Hawaii too!) and who know the schools, neighborhoods and ins and outs of the community.

Don’t stumble through your military relocation alone – give me a call.  While you are packing, I’ll find the right partner for your next move.

Copyright 2008.  Lisa Heindel and West Bank Living.  All rights reserved.

I don’t know how many of you remember when Dear Abby used to organize an annual mail drive to get letters to troops, but that program, along with the ability to address mail to “Any Service Person”, stopped in 2001.  Since then, Email Our Military has stepped in to fill the gap.

From the website:

How It Works

Using eMail, eMOM provides a safe way for people to continue the tradition of “Any Service Member” mail with a much more personal touch. Service Members register with us for support and are matched with civilians who have registered to send and show their support to our troops.

With the holidays fast approaching, I can’t think of a better time to stay in touch with our troops who are so far away from home, friends and family and would appreciate the support from the people they are protecting on a daily basis.  The website has suggestions for gifts, cards, and fun, easy classroom projects for kids and scouting groups to create.

Please take a few minutes to visit the site and Email our Military – you’ll be glad you did.  You can follow along and get updates on Twitter as well: @mailourmilitary.

Need a little push?  This video says it all…

Copyright 2008.  Lisa Heindel and West Bank Living.  All rights reserved.

Although praise is deservedly lavished on military service members serving this country, we sometimes overlook their support system at home; their military spouses.

Long deployments to far away lands are no easy task. Military service members are in harms way and away from the family they love for extended periods of time. The wives and husbands left at home have an equally daunting task in that they’re charged with keeping the home fires burning.

In recognition of their countless contributions and sacrifices, Military Spouse Magazine is accepting nominations for the 2009 Military Spouse of the Year.

Read Jesse’s entire post here.

Do you know of a military spouse that is deserving of this award?  Heck, it could even be you!  Nominations are being accepted through October 8, 2008 at www.msoy.milspouse.com.  It only takes a few minutes of your time to nominate a spouse from any branch of the military, and civilians can nominate candidates too.

One of the coolest things about belonging to a national network of REALTORS is sharing information across the industry that can benefit not only the agents but our friends and clients as well.  If your next PCS takes you to Jesse’s part of the country, be sure to give him a call.