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How would you like to view a list of activities for the kids to do during spring break?
It's time to plan for Spring Break in Kansas City and that means many terrific family fun outings, great classes for Kansas City Kids, and Special Spring Break Programs! This is the guide to Spring Break in KC!

To view a list of activities for the kids to do during spring break, go to: Where KC Parents Click' > Spring Break in Kansas City 2010

Let us know what you think or add to our blog by writing a comment.

Blog post written by the Dowell Taggart Team of RE/MAX Best Associates

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The Top 10 Kansas City banks with problem assetsthat exceeded value of equity - KansasCity.com
Ten Kansas City area banks ended 2009 with problem loans and real estate foreclosures that exceeded the value of their owner’s equity.

Problem assets don’t mean banks will lose that much money. The amounts have been reduced to show what value remains. Banks also have set aside reserves to cover potential losses.

But the rising levels of problems highlight the industry’s deeper struggle with tough real estate markets. Seven banks on the list weren’t there a year ago, and three of those stand out as among the larger Kansas City banks based locally.

2 banks areeach based out of Overland Park, Olathe and Leawood, Kansas.

The Top 10 Kansas City banks that have problem assets are:

1) Bank Midwest based in Kansas City
2) Hillcrest Bank in Overland Park, Kansas
3) First National Bank of Olathe, Kansas
4) BC National Bank in Butler, Missouri
5) Security Savings Bank in Olathe, KS.
6) Armed Forces Bank in Leavenworth, Kansas
7) 1st Financial Bank in Overland Park, KS.
8) Alliant Bank in Sedgwick, Kansas
9) Yown & Country Bank in Leawood, KS.
10) Heartland Bank in Leawood, Kansas

For more information, go to: At end of 2009, 10 banks had problem assets that exceeded value of equity - KansasCity.com

Let us know what you think or add to our blog by writing a comment.

Blog post written by the Dowell Taggart Team of RE/MAX Best Associates

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Bank regulations protect against overdraft
Jessica Janasz didn’t think twice before swiping her Commerce Bank debit card to pay for a $10 haircut.

The next day and one debit card purchase later, she checked her online account and realized she had been charged $55 in overdraft fees.

“I thought it was absolutely ridiculous that I was charged so much,” said Janasz, a junior from Overland Park.

Janasz isn’t alone in her frustrations with overdraft fees. According to a 2008 report by the Federal Deposit Insurance Corp., nearly half of people ages 18-25 incur fees each year for attempting to withdraw more money from an account than is available.

Big Bucks

Banks in the United States stood to collect $38.5 billion in overdraft fees in 2009, according to data from Moebs $ervices, an economic research firm.

However, new Federal Reserve regulations set to take effect this summer will soon cause banks to face stricter rules for charging overdraft fees.

The Federal Reserve regulations will require banks to explain overdraft policies and get written consent from customers who enroll in overdraft protection programs. The alternative would be for customers to have bankcard withdrawals denied when the checking account has no money.



Even with the changes, consumer advocates are demanding more protection. Director of financial services for the Consumer Federation of America Jean Ann Fox said the new Federal Reserve regulations don’t go far enough.
Fox said the regulations don’t protect consumers from disproportionate charges, additional fees assessed when charges aren’t paid and charges from using paper checks.
“Competition hasn’t disciplined banks and the Federal Reserve hasn’t taken the necessary steps, so Congress needs to take action,” Fox said.
The Consumer Federation of America is supporting the passage of House Bill 3904 and Senate Bill 1799, which would “amend the Truth in Lending Act to establish fair and transparent practices related to the marketing and provision of overdraft coverage programs at depository institutions, and for other purposes,” the legislation states. Both bills have been held up in committees since the fall.
U.S. Rep. Dennis Moore is a chairman on the Financial Services committee that is currently considering House Bill 3904. He said the Federal Reserve regulations were a step in the right direction, but more should be done to protect consumers.
“Congress needs to ensure a $2 cup of coffee doesn’t end up costing the consumer $40 in fees,” Moore said through e-mail.
Robert DeYong, director of KU Center for Banking Excellence, said students don’t need to wait for the law to offer protection from overdraft charges.
“The best way to avoid fees is to keep track of what you spend,” DeYoung said. “You shouldn’t write checks or use debit cards without writing it down in a bank book.”
Daniel Rezaiekhaligh, a senior from Kansas City, Mo., said he learned to be more diligent about checking his account records after he was charged $80 in fees from Bank of America for a $1.80 purchase.
“Once you have it happen, you’ll see it’s such a scam,” Rezaiekhaligh said.
Rezaiekhaligh said it helps to keep track of finances, but banks also need to be more responsible for telling their customers about overdraft charges.
“Banks will notify you about anything else, but not about overdrafts,” Rezaiekhaligh said. “You never hear, ‘Hey, not only are you out of money, but we’re charging you $25 more dollars.’”
In a statement about its overdraft policies, Commerce Bank said, “Commerce Bank has invested in providing more information and services to help customers effectively manage their finances to avoid overdrafts.”
A Bank of America representative did not respond to an interview request.
In the meantime, Fox, from the Consumer Federation of America, has one suggestion: “Leave your debit card at home.”

For more information, go to: Bank regulations protect against overdraft:
Check out Braden Katz's article for more information about debit cards and overdraft charges.


With the new regulations set to begin this summer and more legislation pending Congress, banks will soon have to readjust their policies.



Let us know what you think or add to our blog by writing a comment.

Blog post written by the Dowell Taggart Team of RE/MAX Best Associates


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Google real time search has helped Twitter to grow by 9% recently
According to ComScore, Twitter has increased its unique visitors by 9% from December to January 2010. The main source, if not all, of the increase of traffic is Google according to Hitwise.
Google introduced real time search in December and entered into an agreement with Twitter to show updates called tweets. Google will show tweets from trendy queries.
I have noticed that Twitter traffic has increased in Kansas City and the interest in attending Twitter seminars and tweetups (similar to a meetup) has increased the past 3 months.
A restaurant in Virgina and a business in Texas have discovered ways to increase their business sales by 50%. These same results can be achieved in Kansas City by utilizing a social media plan.

If you need help developing a social media plan that includes Twitter, maybe we should talk. I know some people I can get you connected with here in Kansas City.

Let us know what you think or add to our blog by writing a comment.


Blog post written by the Dowell Taggart Team of RE/MAX Best Associates

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11 Things To Do in Kansas City this weekend
11 things to do this weekend in Kansas City:

1. ELTON JOHN & BILLY JOEL
The Piano Men rock out at the Sprint Center Saturday night.

2. COLLEGE BASKETBALL
The Big 12 season is winding down and March Madness is getting ready to start. K-State plays Missouri at 7:05 and Kansas plays Oklahoma State at 4.

3. THE OLYMPICS
This is the best winter Olympics off of USA soil for the US. Things will be winding down this weekend. How will we restart next week?

4. WINTER JAM TOUR
Newsboys headline the largest Christian music tour in the United States, Sunday at Sprint Center.

5. JOCO HOME AND GARDEN SHOW
Thinking spring? Check out some of the newest landscaping ideas at the Overland Park Convention Center.

6. BROKE-OLOGY
A new play by a local playwright highlights the struggles to stay alive -- financially and spiritually -- of a KCK family. It's playing at the Kansas City Rep's downtown stage.

7. MISSOURI MAVERICKS
If hockey from Vancouver isn't enough for you, catch the Missouri Mavericks this weekend. They play Tulsa on Friday, Wichita on Saturday. Both games are at the Independence Events Center.

8. SKATE WITH CLIFFORD
The big red dog goes ice skating at Crown Center on Saturday morning, from 10:00am until Noon.

9. BENEFIT FOR HAITI
Gospel singer Victoria Blaise headlines a benefit concert for Haiti, Friday night at the Mabee Theater on the Rockhurst campus.

10. RACE TO NOWHERE
It's a bike race that doesn't have a starting line (or a finish line): the 12th annual Race to Nowhere. Bikers will be pedaling away to raise money for the Mid-America MS Achievement Center. The fun is at Scott Fitness, 36th & Broadway in KCMO.

11. Watch "Shutter Island"
Enter a AMC poll and see if "Shutter Island" can remain at the top of the box office. Watch it at your favorite local AMC Theatre.

Let us know what you think or add to our blog by writing a comment.

Blog post written by the Dowell Taggart Team of RE/MAX Best Associates

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Rules for using Twitter to promote your Kansas City business - What you mean there are rules?
With millions of people connecting through social media, advertisers and marketers are hustling to get in on the action. Twitter has grown from a million tweets a day in 2009 to 50 million tweets a day in February 2010. In the past year we’ve seen many companies and brands attempt to step into this new world only to fail miserably. After researching successful and analyzing successful tweeters, I have found a successful formula To be an effective marketer on Twitter.

Marketing and advertising on Twitter requires a bit of a shift in your mindset. Twitter is all about simple conversations; you can’t use press releases, marketing copy and other one-way communication tactics and expect results.The new social media requires interaction—with you and with each other. Matter a fact, customers crave it and if they don't get it, they will go else where on the web.Tweeting is one-to-one, with the benefit of being in a public space where other customers may overhear your conversation and interact with each other on your behalf. Here are my 9 Twitter rules:

#1 Know the rules - Get to know your friends and neigbors
It’s important to remind yourself of the fact that Twitter is a real life community and that every community has it’s own set of rules. Before you jump into the conversation, spend some time watching and learning. You’ll find that most people are very friendly and supportive, but it’s best to understand the ground rules first.

The easiest way to jump in is to ask for help. Seek out a pro in your community and seek guidance. This may seem strange at first because brands are used to being on the other end of the spectrum, typically telling consumers what to do. Asking for advice might have you feel as if you are making your brand vulnerable, but the fact that we as a community are helping each other out, is what makes social media great. 

Use twitter searches like Twellow and Nearby Tweets to find local tweeters. 

Another way to find local tweeters is to go Google and do a search of your community. Next, click on show options on the line that shows the number of results. On the left chose updates. The results will show local social media results with the keyword of your city.

#2 Connect person to person - People don’t talk to brands, they talk to people
It doesn’t matter how large your company is. On Twitter, people want to connect to a person. They are not interested in talking to your ‘brand’. Make your updates personable and human, not scrubbed and polished like news columns. It’s fine to be a little rough around the edges. Talk as though you are talking to a group of friends around a dinner table (just tone down the language).

If you can, identify a real person to write the updates to give a face to your Tweets. For example, Garmin's Twitter account (@JakesJournal) is headed by Jake from Garmin. Jake from Garmin is a person who manages Garmin's blog team and syndicates their post on Twitter.

By using Twitter, Garmin is offering an alternative, less corporate confined outlet for customers to receive support. Customers are able to ask questions and be communicated with on their own turf; no more having to wait in long lines, no need to press 3 for more options!

#3 Create a conversation - Twitter is a two-way street
Some companies might eye Twitter as another ‘channel’ to conquer. This kind of thinking is dangerous with interactive marketing. Maybe that is why Twitter is managing to handle 50 million tweets a day. Social Media is not about building a channel; it’s about 
creating a conversation. Your job should be to get people talking by posing questions, asking for input and connecting people as a trusted third party.

Creating a conversation requires something that many marketers are not used to: actively listening to customers. The new age of marketing and advertising as evolved into social interaction. This back and forth motion is what makes social media wonderful and helps build an emotional connection between your brand and consumers. Since consumers now have more choices and are able to jump from brand to brand in an instant, this relationship has become more crucial than ever.

You'll find more valuable friends when you can engage in a conversation. During my research I asked questions to 35 tweeters. Out of 35 only 2 responded back with me with 48 hours. Do you think I revisited the tweeters who didn't reply to my simple questions? Not only have I not revisited their accounts, but I also think they are using Twitter and all of social media the wrong way. 

I'm tired of people just trying to sell me something, aren't you?

#4 Promote a dedicated ambassador - Make Social Media a part of your plan
Social Media outlets like Twitter work best when they are frequently updated. You’ll find that the most prolific companies on Twitter have tens of thousands of updates. This may seem like a lot of work, but it doesn’t have to be; these updates tend to be short, quick and off-the-cuff.

I find that it works best when a single person internally to act as a social media liaison. It is ok for more person in the company to be tweet about the company. Just let it start with one person and have the rest of the team retweet and create discussions about new products, services or news. 

When designating ambassadors for your company, be sure to establish some “rules of engagement”. This will serve as a guideline on dealing with and deciding on conversations they should participate in and which ones should get escalated within your organization.

Remember it is all about engaging a conversation with your customers.

#5 Have something to offer - Give people a reason to follow you
People love to pass on information and if people are following your brand on Twitter, they are already showing a proclivity to your message. So why not reward them? Offer inside information, special offers or just one-to-one conversation with customers who follow you through Social Media. People love to spread valuable news and entertaining stories.

Once you have been using Twitter for a while, you’ll notice key people that like to talk about your company (aka “Influencers”). These people are worth more than you can imagine! Encourage users by converting them into brand ambassadors: Invite them to your private product launches, let them contribute to new feature requests, ask them how you can improve. Not only will you gain firsthand, unfiltered information on how your products are used in the real world, you’ll also activate a network of ambassadors to give you the best thing you could ask for: positive word-of-mouth.

Your influencers are your companies bullhorns. Seek them out and share quality tweets with them. Your influencers will share valuable information with their followers. That is how they became influencers. 

An influencer can get your message out to thousands of people in a short period of time.

#6 Twitter and your website - Integrate your messaging
Twitter is a very flexible technology, which is what makes it so powerful. The fact that Twitter can be set up to automatically update your followers every time you post a blog entry or that any RSS feed can be re-broadcasted through your Twitter postings, are great examples of Twitter’s strengths. 

Another great option is the ability to add buttons, badges and widgets to sections of your other sites (articles, pages, etc.) so that visitors are able to “Tweet” it’s contents. Each article or page can be linked with a button that allows customers to send an update to their followers with a quick blurb and a link to your page. Again, people generally only Tweet interesting or compelling content and a list of products or features may not be very intriguing to them.

Find awesome add-ons here: http://twitter.com/badges and http://sharethis.com/

#7 Tracking Conversations - Listen and Learn
By using the @reply feature, it’s easy to discover people talking about your brand. The Twitter search function also allows you to search by your company or product name. Use these tools to discover the things being said about you in real-time. Stay on top of what’s being said about you by frequently checking your @replies; you might be surprised by what you find.
More advanced tools also exist that allow you to graph conversation activity over time, as well as monitor positive and negative sentiment amongst users. Using these tools help to provide you with a more in-depth understanding about what people are saying; which in turn will help you develop more relevant conversations. Companies likeTrendrrInfegy, ScoutLabs & Radian6 offer more robust monitoring tools.

Start a hashtag (#business name) for your business, product (#product)/or service (#service) to help track tweets.

A club that I participate in is the Social Media Club of Kansas City. Their hashtag is #smckc. Hashtags help your customers, followers and members easily follow you.

My favorite Twitter application for monitoring Twitter is Hootsuite. Hootsuite is an online application that  allows you monitor multiple twitter accounts, conversations as well as delaying tweets. If you use Hootsuite correctly, it can help easily monitor conversations on Twitter. 

#8 Start a Tweetup - Meet in Real Life
Twitter is a great tool to create online conversations. The positives are numerous. If you want to add to Twitter, start promoting tweetups. A tweetup is nothing more than a meetup, a live meeting or gathering. You could promote a club or organization. If you are a business you could promote a daily discount or if you are a restaurant you could promote a lunch special.  

Meetups have been popular for several years. Tweetups have increasingly become popular the past couple months. A tweetup is gathering of people to socialize and network. There are claims by some businesses that 1/2 of the daily revenue comes from promoting tweetups. A restaunrant in Virgina claimed that they had 60% more lunch patrons due to promoting lunch tweetups and a BBQ restaurant in Texas reported recently that 73% of their sales come from promotions on Twitter such as tweetups.

Tweetups don't have to be for only the hardcore tweeters. Anyone can attend. The fun is socializing and sharing.

If you want to see how a tweetup works, come to our next tweetup on March 10th. The March 10th tweetup will start at 5:30 the Fox and the Hound Restaurant. If you want to sponsor a door prize contact me. If you know Martin and myself, we will have some networking activities planned. Our hashtag is #kcn.


#9 Most Important - Remember Who You Are Tweeting to
People who read your tweets really don't care about you. They really care about themselves. Remember this! Share worthwhile content that will save them time, money, make them feel good or will help them improve their life.

What do I mean? Lets say you are in real estate like myself. Do you think my customers only want to hear about real estate? What happens if they have bought a home from me, do you you think they want to hear about real estate from me everyday? Experience tells me that an average person moves every 5-7 years, so I need to find lots of content to fill in. My goal is to provide information so when my customer is ready to move or know of someone ready they think of me.

What do I tweet? I tweet coupons that can save my customers money, ideas about decorating, things to do, people who can help make their lives easier. This morning I tweeted about a professional organizer. He can come into my customers homes and make their lives easier. Directly, that tweet will not benefit me. Indirectly, I'm promoting a business to my customers that will help them. Hopefully, my customers and followers remember me.

If you have a product or service that you want to reach 100,000 people, send me a tweet. 


Why not start using some of these rules for Twitter? It is an easy way for followers to find you and an easy way to get found on Google.

If you have any ideas, please share. In the meantime if I can help you, send me a tweet.

@DowellTaggart




Let us know what you think or add to our blog by writing a comment.


Blog post written by the Dowell Taggart Team of RE/MAX Best Associates

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Who is more powerful?
Who is more powerful is a loaded question. To most people, the question would be answered differently. 

I guess it depends on your frame of reference. 

If you're in the military, it would probably be the top military man.

If you're in the state government, it would probably be the governor.

If you're a grade school kid, it would be the bully or tough kid of the school.

Yesterday, I asked the question to a group of people. And as I suspected I received many different answers. I heard the President, I heard large corporations, I heard Sam Walmart (Although I'm sure he meant Sam Walton and I think he is invested in smaller real estate right now), I heard Gates and that guy from Omaha (that is exactly what she said, "that guy from Omaha").

Interesting enough, I asked the same question to my 13 and 14 year old boys. Guess what they said? 

They said,"Pick a keyword dad and let me look it up on Google".

Of course I picked a few keywords and they looked them up.

Interesting enough, we all have a different person who we think is most powerful. 

If you are like my kids, maybe the most powerful people are the ones who dominate their industry on Google. The ones who dominate are the influencers of your industry.

If it is important to be powerful and an influencer in your industry, maybe it is a good time to start a blog and applying social media to your business. 

If you need help, maybe we should talk. I'm not a social media expert, but I know some who are experts. 

Let us know what you think or add to our blog by writing a comment.

Blog post written by the Dowell Taggart Team of RE/MAX Best Associates

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Free IHOP pancakes on February 23 benefits the Children's Miracle Network
IHOP, of Olathe, has announced plans to serve millions of free pancakes in celebration of National Pancake Day on Tuesday, February 23, 2010. You can get a free short stack of their signature buttermilk pancakes from 7:00 a.m. to 10:00 p.m.

While the pancakes are free, IHOP hopes the program will raise $1.75 million for Children’s Miracle Network, an international non-profit organization that raises funds for children’s hospitals, and other worthy local causes. They’re asking guests to donate what they would have paid for the free pancakes, or more, to the Children’s Miracle Network.

This is really cool because through my affiliation with RE/MAX I'm very familiar with the Children's Miracle Network. The Children's Miracle Network is a great non-profit organization for Children's Mercy Hospital.

In the Kansas City area there are IHOP locations in Grandview, south Kansas City, Overland Park, Merriam, Lee’s Summit, Olathe, Independence, Shawnee, Kansas City, and Kansas City, Kansas."

Let us know what you think or add to our blog by writing a comment.
Blog post written by the Dowell Taggart Team of RE/MAX Best Associates
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J.D. Power ranks Kansas City International Airport #1
J.D. Power ranks Indianapolis airport best

J.D. Power and Associates awards trophy

Kansas City International Airport ranked first among medium-size airports by J.D. Power and Associates. A medium-sized airport is considered an airport with less than 10 million visitors.

Let us know what you think or add to our blog by writing a comment.

Blog post written by the Dowell Taggart Team of RE/MAX Best Associates
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Are you a HyVee or Price Chopper Fan?
Ever since the Kansas City Chiefs pulled a fast on on the Kansas City grocery store, Price Chopper, for HyVee there has been some bad words flying around.

You'll hear that HyVee runs ads and the food on the ads is not in the store. I know for myself this has happened several times. Sure HyVee will give a rain check. But I have had rain checks that couldn't be redeemed within 2 weeks.

On the Price Chopper side, you'll hear that different stores will redeem coupons differently or will run ads independently of each other. Price Chopper is over coming that by introducing a new website and coupon policy on March 17th.
   
No longer will we hear Chiefs and Chopper in Kansas City, thanks to the KC Chiefs mismanagement. I have gotten over the KC Chiefs starting this feud. Look at how they have ran their pro football organization the past 5 years. I'm actually surprised that Price Chopper stayed as a sponsor of the Chiefs for so long and it now makes sense why Price Chopper being aligned with the area colleges is a good thing. There are more events and a better chance Price Chopper will be aligned with a winning team.

Oh, by the way, are you a HyVee or Price Chopper Fan?

Let us know what you think or add to our blog by writing a comment.


Blog post written by the Dowell Taggart Team of RE/MAX Best Associates

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Survey reveals that local KansasCity politicians need to do less bickering
Greater Kansas City Chamber of Commerce Poll Shows KC Area Needs New Direction, New Energy

"In a survey of 800 Kansas City area voters – from both Kansas and Missouri – residents say: For the area to reach its full potential, local politicians need to do less bickering and more working across boundaries. They also say the business community needs to take a stronger leadership role to diminish the importance of the state line.

The poll was commissioned by the Greater Kansas City Chamber of Commerce, a longtime advocate of regional collaboration. The survey of 800 registered voters was conducted in mid-January, 2010, by pollster Neil Newhouse, Public Opinion Strategies, and was released at The Chamber’s annual Governors’ Summit on Regional Economic Development, held Wednesday at Liberty Memorial."

Do you agree with the results of the survey?

Let us know what you think or add to our blog by writing a comment.

Blog post written by the Dowell Taggart Team of RE/MAX Best Associates
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It may cost Kansas City home owners more to sell their homes in the near future!
Change is Coming Kansas City Home Owners, Bring Out Your Change!

"Is it a good time to sell Kansas City Real Estate?  I mean, interest rates are good, and the stimulus package should bring more Kansas City home buyers, right?"

Yes and yes.  Add the fact that Winter buyers in Kansas City are traditionally more focused, and have less competition, and we are definitely in the "Selling Season."


So, what are the specific factors that drive our Kansas City real estate market? There are many factors that contribute, but the common influencers include;

1-$8,000 First Time Buyer Tax Credit

2-$6500 Move-Up Buyer Tax Credit

3-Record low mortgage rates

4-Stabilizing home values

5-Increased Buyer Confidenc
e

Why "Increased Buyer Confidence", you ask?  OK, I understand unemployment figures are still higher than anyone would like....A wage-earning, working person has more to be confident about than someone who may be unemployed, or underemployed...Makes sense.  And I realize tightening of FHA home lending guidelines will make money tougher to come by in the second half of the year.

Yet the numbers tell a different story for the first half of 2010.  Home starts are up and rising.  Resale numbers are growing as well.  And conversations with jumbo loan lenders lead us to believe that homes selling above the median (for us in the Kansas City Metro around $229,000) are picking up momentum....Consumers are EXPECTING good news.

In the face of short-term optimism, our local market will face challenges this year....

1-Interest rates WILL rise The Treasury department voiced its intention to discontinue purchasing mortgage-backed securities....READ AS FAILING OR DEFAULTED MORTGAGES....FHA lending guidelines are tightening, with minimum score requirements and rising upfront mortgage insurance premiums adding fuel to an unstable fire.

2-Home values are stabilizing.  Look, no more fat to cut, very few "low ball" offers accepted....Foreclosure sellers,and pre-foreclosure sellers have seen values stabilize.  As sales on resale homes increase, the market is moving from a "Buyer's" focus to a Neutral focus....

3-Obama steps out.  The Tax Credit Incentives are expiring, with contracts accepted into the program only until April 30th.  The process to redeem the credit is also tightening....In a discussion with a well-known, local CPA firm, I learned that the program has had it's fair share of attempts of consumers attempting to dodge the guidelines in an effort to secure a credit they may not have earned fairly.  As a result, processing the credit takes more effort, and receiving your check will take more time.

So What's Next?", you ask....

Hum....Sold my crystal ball at a mid-winter garage sale to Bernie Madoff's lead defense counsel, so I'm left with chicken bones and the coin toss....Or my ten year-old can make one of those paper thingys you run with both hands....LOVE CHANGE.  Eat it with a spoon, embrace it.

You should be left with a fair number of questions about what best course to take as a home-seller, or home-buyer.  If you are able, BUY NOW.  Take advanttage of the programs available, and the current climate.  Run with it.

Are you selling?  Tougher questions for you....More variables than I can address in a blog post....Should we talk?

As always, "If you believe an professional is expensive, screw it up with an amateur and then call me to fix it."

Blog post written by the Dowell Taggart Team of RE/MAX Best Associates. Your Kansas City Real Estate Marketing Masters!

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Kansas City Home Buyer Tax Credit - Is It As Simple As It Seems?
Buyer Tax Credit : Is It As Simple As It Seems?

The Home Buyer Tax Credit is not as simple or straightforward as clients might believe...Here are some nuances that will affect home buyers who plan to use it.
  • To qualify for the move-up tax credit, a home owner must have occupied the same principal residence for five of the last eight years consecutively.
  • Buyers can elect to claim the credit on either their 2009 or their 2010 tax return, whichever is best for them.
  • Buyers who claim the credit in 2009 can’t file electronically because the Internal Revenue Service hasn’t put the required forms on line. The wait for a refund is three or four months.
  • The home can be a mobile home or travel trailer that is fixed to land owned or leased by the home owner. A mobile home or travel trailer that is actually mobile doesn’t qualify.
  • The home can’t be purchased from a close relative, including a parent, spouse, child, grandparent or grandchild.
  • A buyer who earns no taxable income or doesn’t owe any federal income tax can qualify for the tax credit and file a tax return just to claim it.
There is a "perfect storm" of sorts brewing in our industry, with the Treasury Department ceasing to purchase more mortgage-backed securities linked to the termination of the Home Buyer Tax Credit, we foresee higher interest rates along with a general tightening of the "credit noose"...Transalation, it's gonna get harder to get a new mortgage after May 1.

Source: Bankrate.com, Marcie Geffner (01/21/2010)

Submitted by Martin Taggart, Blogger, Kansas City Real Estate Junky
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