Heading out to do my Investmen…
February 28, 2009 by Thach
Filed under Twitter Updates
Heading out to do my Investment seminar at 10am. Check out info at thachnguyen.com.
Seattle Mortgage Reel Weekly Recap, February 27, 2009
February 28, 2009 by TheMortgageReel
Filed under Real Estate Review
Just finish meeting w.James Su…
February 27, 2009 by Thach
Filed under Twitter Updates
Just finish meeting w.James Sun about raising money for new commercial project.
Now speaking at T.T Minor school.
Tuesday, February 25, 2009
February 25, 2009 by Thach
Filed under The Power of Intention
Gratitude:
I am so grateful for Camie for being fearless and hard working.
I am so grateful for Camie’s mom for watching both of our kids during the day when we are at work.
I am so grateful for both of my kids for being happy and healthy.
I am so grateful for all of my brothers and sister doing well in these tough times.
I am so grateful for my assistant Alicia for working very hard everyday and being committed to the vision of inspiring and empowering billions of people.
I am so grateful for all of the real estate leads that have been coming to me in the last 5 days.
I am so grateful for all of the people who are excited about being a Contribution Expert.
Intention:
Today I am intending to…
Feel good.
Be satisfied yet eager for more.
Be at peace.
Just know and allow it to flow to me.
Delegation:
I am so thankful for my Divine Team for assisting me with…
Having 30+ people sign up to be at my investment seminar this weekend and at least 10 of them are qualified and eager to start their investing now or s.b.
Having the perfect sponsorship package for the next CNP event and we have perfect partnerships with some great cooperate and small companies or s.b.
Getting the Rainier Beach Performance Center for the seminar the day of the CNP live event and it is the perfect spot or s.b.
Having 2500 postcards get sent out to the renters on Beacon Hill to inviting them to our next FTHB Seminar and the outcome is 10% of them attend and begin the journey of home ownership or s.b.
Having all of the BOA local branches advertising the FTHB Seminar and we generate at least 10+ perfect buyers to come to the next event and they are ready to purchase or s.b
Having all my yard sign I make be so effective that we get 10+ perfect buyers to come to the next FTHB seminar and we got 10+ perfect sellers who want us to sell their homes or s.b.
Having 40+ perfect clients that we help buy, sell or invest every month or s.b.
Meeting w/Zita Gustin pres. Of…
February 24, 2009 by Thach
Filed under Twitter Updates
Meeting w/Zita Gustin pres. Of Ewomen network.
Discussing future collaboration.
Economic Stimulus Plan
February 24, 2009 by Thach
Filed under Real Estate Review
Tax Credit for Homebuyers
First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction – a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income.
The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. Buyers will have to repay the credit if they sell their homes within three years.
Tax Credit Versus Tax Deduction
It’s important to remember that the $8,000 tax credit is just that… a tax credit. The benefit of a tax credit is that it’s a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a homebuyer were to owe $8,000 in income taxes and would qualify for the $8,000 tax credit, they would owe nothing.
Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a homebuyer is liable for $4,000 in income tax, he can offset that $4,000 with half of the tax credit… and still receive a check for the remaining $4,000!
Phaseout Examples
According to the plan, the tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000.
To break down what this phaseout means to homebuyers who are over those amounts, the National Association of Homebuilders (NAHB) offers the following examples:
Example 1: Assume that a married couple has a modified adjusted gross income of $160,000. The applicable phaseout to qualify for the tax credit is $150,000, and the couple is $10,000 over this amount. Dividing $10,000 by $20,000 yields 0.5. When you subtract 0.5 from 1.0, the result is 0.5. To determine the amount of the partial first-time homebuyer tax credit that is available to this couple, multiply $8,000 by 0.5. The result is $4,000.
Example 2: Assume that an individual homebuyer has a modified adjusted gross income of $88,000. The buyer’s income exceeds $75,000 by $13,000. Dividing $13,000 by $20,000 yields 0.65. When you subtract 0.65 from 1.0, the result is 0.35. Multiplying $8,000 by 0.35 shows that the buyer is eligible for a partial tax credit of $2,800.
Remember, these are general examples. You should always consult your tax advisor for information relating to your specific circumstances.
Homes that Qualify
The tax credit is applicable to any home that will be used as a principle residence. Based on that guideline, qualifying homes include single-family detached homes, as well as attached homes such as townhouses and condominiums. In addition, manufactured or homes and houseboats used for principle residence also qualify.
Higher Loan Amounts
More good news – there is an extension on the additional tier of conforming loan amounts which had been first established in 2008. This tier of home loans are those greater than $417,000, and with a maximum that depends on the area, but is not greater than $729,750. These loans will again be eligible for rates that are slightly higher than conforming loan rates, but less expensive than the standard “jumbo” loan rates.
Additional Housing-Related Provisions
Tax Incentives to Spur Energy Savings and Green Jobs — This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.
Landmark Energy Savings — This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.
Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing—This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs.Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section 
to increase energy efficiency, including new insulation, windows, and frames.
Expanding Housing Assistance—This provision increases support for several critical housing programs. It includes $2 Billion for the Neighborhood Stabilization Program to help communities purchase and rehabilitate foreclosed, vacant properties.
More Help for Homeowners in the Future
Another thing to keep an eye on in the coming weeks is President Obama’s plan to help struggling borrowers before they are faced with a default on their mortgage.
According to reports, the Obama administration is discussing plans to help borrowers who are struggling to stay afloat, but who have not yet fallen behind on their payments. At this point, details are scarce; however, reports indicate that President Obama is looking to spend approximately $50 Billion to directly help homeowners before they face foreclosure and financial disaster.
While this is good news for individual homeowners, it will likely be good for the housing industry as a whole. That’s because, assisting struggling borrowers before they default should help stop the wave of foreclosures, which are estimated to top two million this year. That, in turn, will help stabilize home prices.
The Economic Stimulus Plan is huge, and impacts a number of industries. I’ve highlighted some of the major provisions that may impact you now and in the future.
As always, if you have any questions or would like to discuss how this may specifically impact you, I’d be happy to sit down with you. Just call or email me to set up an appointment.
Out w/camie and both kids at g…
February 22, 2009 by Thach
Filed under Twitter Updates
Out w/camie and both kids at grandma hm, ready to go eat dinner.
Seattle Mortgage Reel Weekly Recap, February 20, 2009
February 21, 2009 by TheMortgageReel
Filed under Real Estate Review
Find out how the new stimulus impacted your largest and most sacred investment, your home. What will this mean for new home buyers, find out the incentives and changes made to improve opportunities. Educate and inform yourself as a current or future home owner, visit the Seattle Mortgage Reel.
Friday, February 20, 2009
February 21, 2009 by Thach
Filed under The Power of Intention
Gratitude:
I am grateful for finally securing the space for the CNP Expert Training for March 25th and the live CNP event on April 25th.
I am grateful for having the opportunity to inspire about 35 students this morning at Interlake High School.
I am grateful for all of the miracles that have been showing up in my life everyday.
I am grateful for all the relationships that I have out in the community.
I am grateful for the listening of all the people out in the community that are saying good things about me.
Intention:
My intention today is to…
Feel good.
Enjoy the unfolding.
Just know and have certainty.
Delegation:
I am so thankful for my Divine Team for assisting me with…
Having my property I sold to Mike close on or before February 28th or something better.
Having someone come and buy out my apartment in Seattle or invest in it and they cash out my original investors or s.b.
Connecting with some perfect investors and raise $2 millions so we can take down a couple development sites with Rite Aid as our tenant or s.b.
Generating $100k in the month of February or s.b.
A New Use for The Law of Attraction
February 20, 2009 by Thach
Filed under Coaching Calls
Listen as Deborah coaches Thach about priorities, staying in the flow and how Law of Attraction can be used in a new way when contrast appears.
