Lilac City Real Estate

As Seen on TV

My TV News Interview

 

Friday, April 30th was my big day on the local ABC News affiliate KXLY. Television reporter McKay Allen contacted me to inquire on business activity for the last day of the Federal Home Buyer Tax Credit program.

I was happy to oblige as they say any publicity is good publicity. I don't know if I agree with that but I was willing to appear on camera for a chance to give my Spokane real estate business some free media exposure. We met in Browne's Addition where the day before I had previewed a new condo conversion for a Spokane home buyer client that has been working with me for the past few months to find just the right place for him to reduce his commute which presently all the way from the slopes of Mount Spokane.

Reporter McKay Allen interviewed me for quite a few minutes but most of my words ended on the cutting room floor.

Here is what ended up on the six o'clock news that day:

 

Here is a quote from the news story:

SPOKANE -- At midnight Friday the first-time homebuyers tax credit comes to an end. Even though its been around for months some are scrambling to get a contract signed in time.

Spokane Realtor Jim Grapes has been busy keeping his buyers close and his sellers even closer.

“I asked my homeowners that are selling, my listings to stay close by their phone in case we need to jam a contract through sometime this evening,” Jim said. “Don't go to the movies and turn off your phone or something like that, just stay available.”

After an already busy real estate day he's preparing for a deluge of last minute offers, people trying to claim the tax credit before the clock strikes midnight.

 

Extra Time for Some Armed Forces Personnel

However, for servicemen and women serving outside the United States have an extra year to qualify for the Home Buyer Tax Credit (see IRS Form i5405).

You have an additional year to purchase a home if you (or your spouse if married) if:

1) You are a member of the uniformed services (the Army, Navy, Air Force, Marine Corps, and Coast Guard) and are on qualified official extended duty outside the United States for at least 90 days during the period beginning after December 31, 2008, and ending before May 1, 2010.

Qualified official extended duty. You are on qualified official extended duty while:
• Serving at a duty station that is at least 50 miles from your main home, or
• Living in Government quarters under Government orders.

If you meet both of these conditions, you do not have to purchase your home during the regular time periods.  Instead, you can qualify for the credit if you purchase your main home before May 1, 2011, or if you enter into a contract before May 1, 2011, to purchase the property before July 1, 2011.