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Feds Cut Interest Rates, IRS and the Federal Tax Lien Block

 Great News for Homebuyers!!Fed Cuts Key Interest Rate to Historic Low

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Irving, Texas by providing you with a relationship based on trust and experience.

The Federal Reserve yesterday slashed its benchmark federal funds rate – the overnight rate at which banks lend to each other – from 1 percent to a target range of 0 percent to 0.25 percent, the lowest rate on record.

In the last 15 months, the target federal funds rate has been cut 10 times. By dropping this key interest rate to almost nil, the U.S. central bank has exhausted what has historically been its most fundamental tool for managing the economy. With yesterday's announcement, the Fed has done all it can with ordinary rate cuts, and said that because of continuing weak economic conditions, it is likely to leave its key short-term lending rate at "exceptionally low" levels for "some time."

Fed policymakers are now promising aggressive new initiatives to combat the country's deepening recession, vowing to use "all available tools" to shore up the U.S. economy and provide “sustainable economic growth.”

I specialize in The Irving Texas Real Estate. I have lived and worked in this area since 1985. Click on Homes for Sale in Irving to see every home listed in this great city....I would love to help you.

The Internal Revenue Service (IRS)  announced an expedited process that will help prevent a federal tax lien block on the refinancing of mortgages or the sale of a home by financially distressed homeowners.

If taxpayers are looking to refinance or sell a home and there is a federal tax lien filed, there are options, the IRS said in a press statement. Taxpayers or their representatives, such as their lenders, may request that the IRS make a tax lien subordinate to the claim by the lending institution that is refinancing or restructuring a loan. Or, under certain circumstances, taxpayers or their lender representatives can petition the IRS to fully dismiss its claim if the home is being sold for less than the amount of the mortgage lien, the IRS explained.

The process to request a subordination or dismissal of a tax lien takes approximately 30 days after the submission of the completed application.

The real estate industry can be quite confusing if you have never been involved in it.  It can be a confusing place for veterans, as well.  Because of the overwhelming need for experience and expertise in the industry, it is vital that your choice in a realtor or realtors in Irving, Texas

How do you know that you are making the correct decision?  What sets the best realtors apart from the others available?  On what should a prospective buyer or seller base their decision?  Here, you will find the information required to make your choice a simple one.I hold the keys to every listed home for sale in Irving, Texas...

..click on Homes for Sale in Irving to start your home buying adventure...

Texan Attitude

Texas Has an Attitude

 

Texans have an attitude too!  That is why we created 23,000 new jobs in October – the only state in the nation that created jobs, all other states lost jobs.  How is that for defying economic trends and forecasts?

 

Texas also has the 15^th largest economy in the world, just behind Canada at 12^th place and Mexico at 14^th place.  And with our economic growth we are expected to surpass Mexico with its 109 million people this year. 

 

Texans have an attitude!  If you plan on moving to the Lone Star State and the DFW area, give me a shout! I would love to help you find your place in Texas!!

 

Area Update...

Carrollton

• Castle Hills continues to exceed projections as the development moves north with new villages near the new 121 Tollway.  Also, Killian Middle School and Independence Elementary opened this year in north Castle Hills.  Other new subdivisions sprout along 121.
• The new Carrollton (Green Line) Dart Rail is scheduled to open in December 2010.  The city plans major development in Old Town with brownstones, apartments, retail, etc.
  

          www.cityofcarrollton.com

Coppell

• Sprouts – the City Council on December 9^th will consider approval of the request by Sprouts for their new store at the NW corner of Denton Tap & Sandy Lake.  The P&Z has already given approval and preliminary construction has already begun.  Also, the new Market Street Grocery and Center at Denton Tap & 121 Tollway opens in January.  Together these two stores will provide almost 600 new jobs.
• Three new upscale housing subdivisions along Denton Tap Road with Toll Brothers and David Weekley are opening – price ranges $475,000 to $1.1 million.

           www.ci.coppell.tx.us

Cypress Waters at Northlake

• Lucy Billingley’s new 10,000 home development is expected to begin as early as late 2009.  It will consist of multi-family, condos, townhomes, garden homes and single family.  The Coppell ISD has purchased 4 school sites – 2 elementary, 1 middle and 1 high school site for the development.

Las Colinas

• Hines Development has opened two new premier housing developments along Riverside Drive and builders are now selling beautiful home sites.   The neighborhoods are Riverside Village and the Lakes of Las Colinas and the streets are now in.  Approximately 700 homes will be built with a price range from $300,000 to $1 million.
• CFB ISD has reserved a site for a new middle school along LBJ Freeway near Riverside Drive for La Villita Middle School.  Next to this site the school district has also reserved a site for its next football stadium to serve the district’s growing population in Irving and Coppell.
• The Las Colinas Urban Center is exploding with new growth with the construction of the new Water Entertainment Center, the new Irving Convention center on Las Colinas Blvd (opens November 2010), 3 new hotels, and over 1,500 new condos and apartments, many constructed by Lucy Billingsley.
• The new Dart Rail Line (Orange Line) opens December 2012 from Downtown Dallas to Las Colinas.  Acquisition of land has begun.

Valley Ranch

• Everest Heights Mall – the new South Asian Mall at LBJ & Bush Tollway is now under construction and scheduled to open in late 2009.  It will have 45 retail stores, a six screen theatre, concert hall and banquet facilities, fine dining restaurants, food court and Asian grocery facilities.  This will be the finest Asian mall in the nation and will provide up to 800 new jobs.  It will serve the over 100,000 South Asians that now live in the Dallas suburbs.  Please go to www.everestheights.com for a virtual tour of this exciting new mall.

         www.ci.irving.tx.us

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