St George Utah Real Estate Information

Senate agrees to extend first-time buyer's tax credit

Posted at 5:08 PM, Oct. 30, 2009

Senators have agreed to extend the $8,000 first-time homebuyer tax credit originally set to expire on November 30. Once the Senate officially votes on the bill it will move to the House of Representatives, which strongly supports the extension. The Obama administration has also signaled its strong support for an extension of the tax credit.

Aside from the first-time homebuyer credit, the new plan would offer a $6,500 credit for repeat or move-up homebuyers who have lived in their primary residence for five years or more. The tax credits would be available to buyers who sign purchase agreements on a new or existing primary residence between December 1, 2009 and April 30, 2010. Buyers would have until June 30 to close on their new homes.

There is an $800,000 price limit on all homes eligible for the credit. The income limits for all buyers would rise to $125,000 per year for individuals and $225,000 for married couples. Under the current program, the limits are $75,000 and $150,000 respectively. The first-time homebuyer credit is also available to those who have not owned a home in the previous three years. The credit does not have to be repaid unless the home is sold or ceases to be the primary residence within three years.

According to the Treasury Department, more than 1.2 million borrowers have claimed $8.5 billion of the $13.6 billion set aside for the first-time homebuyer tax credit.

{ 1 comments } { add comment } { Permanent Link }
View more entries tagged with: Tax Credit, Firsttime Home Buyers, Buying A Home

Hiking the Grand Canyon

Posted at 1:02 PM, Oct. 16, 2009

I just recently hiked the Grand Canyon from the North Rim to the South Rim and here is a story about my experience:

Fear gripped every living cell in my body as the nine of us grabbed our shiny new trekking poles and headed for the trailhead at the North Rim of the Grand Canyon that cool fall morning. With brand new back packs slung over our shoulders filled with provisions, change of socks and underwear, and as much water as we could comfortably carry, we were about to experience the adventure of a lifetime.

There was no turning back; I couldn’t chicken out now. I had trained diligently for months to get into shape for this hike, both physically and mentally. And yet, here I stood at this long awaited moment, trembling; not from the chill in the air, but from fear that totally overtakes you as you venture into the unknown. None of my hiking partners seemed to be afraid as we stood at the top of this huge precipice looking out into this vast wilderness, known as the Grand Canyon. No, they appeared jubilant at the prospect of conquering this commanding and wondrous place that has fascinated and seduced mankind for centuries.

I swallowed hard and got in line with my fellow hikers and started down the trail determined not to let them see that I was practically paralyzed with fear. I kept telling myself that I could do this; that I was strong and in good shape, and that everything would be fine.

As we progressed down the trail, my fears began to fall away. My preconceived idea that the trail would be just a few inches wide and that I may drop off thousands of feet to my death soon vanished. The trail was actually quite wide and well groomed. There were very few places along the trail that had any sheer cliffs and there was always plenty of room for both hikers and mule trains. Our guides had counseled us at the beginning of the hike that mules and uphill hikers had the “right of way” and that we must yield to them.

The beauty and grandeur of this place soon consumed me. I was completely in awe and wanted to drink in, and savor every moment. Around each new corner someone in our party would shriek with joy as a new vista, waterfall, animal, or rock formation lay ahead. I wondered about the first group of humans who forged this trail thousands of years ago. What did they think? Why did they push on in this formidable wilderness? Was there something sacred or spiritual here that summoned them? I certainly felt a sense of spirituality and calm here and I wasn’t afraid anymore.

When we finally reached the campground where we would rest for the night, I was ready to be done for the day. I had developed blisters on both of my heels and on the bottom of my left foot, and the muscles in my legs were spent. All I could think about was sleep.

We ate our supper of chicken fajitas prepared by our guides, got ourselves ready for bed, and got in our tents to sleep and allow our bodies to recover for the beginning of the ascent up the South Rim the next morning. I was so tired and yet so excited from all of the events of the day that I couldn’t fall asleep. I laid awake for hours just looking up at the big black sky that was full of more stars than I had ever seen, and kept thinking about the words from my friend and coach, Hal. He told me over and over the past several months as he was helping me train for this endeavor that I wouldn’t realize the magnitude of this experience for several days after the hike was over. I wondered what else I would realize beyond the grandeur and beauty of this awesome place.

Seeing the Lodge at the end of the trail was exhilarating. We had done it! We were there! All of the members of our party were ecstatic. We had just hiked the Grand Canyon! I thought to myself, OK, now I know what Hal was talking about. I had just conquered the Grand Canyon! And it was the most difficult, yet fulfilling, thing I have ever done in my life.

{ 3 comments } { add comment } { Permanent Link }
View more entries tagged with: Grand Canyon, Hiking, North Rim, South Rim, Hiking The Grand Canyon