Austin Real Estate News

Archive for November, 2009

Austin #8: Best for Small Biz

Written by reillyrealtors in Austin News No Comments »

CNNMoney.com ranks Austin as #8 out of 50 best places to launch a small business. You can read the full story at Best Places to Launch, but the reasons for Austin making the list include:

  • Business friendly tax environment (no state income tax and no corporate income tax)
  • Strong support for business (especially technology)
  • Fast population growth (doubled in 20 years)
  • Skilled workforce (thanks to being home to the University of Texas)



Buyer Tax Credit Extension, Expansion

Written by reillyrealtors in Legislation No Comments »

Congress passed legislation today that, with Obama’s signature (expected Friday), will extend and expand the home buyer tax credit. Here are the details:

  • New home buyers can receive up to an $8,000 tax credit through June 2010 (the previous legislation is set to expire in November 2009)
  • Current home owners who have have lived in their home for at least 5 years can get up to a $6,500 tax credit if they purchase a new home priced up to $800,000
  • Home buyers have until April 30, 2010 to put a home under contract and must close by June 30, 2010
  • Individuals earning up to $125,000 and couples earning up to $225,000 are eligible for the credit (the income levels were previously $75K/$150K)

Learn more about the Home Buyer Tax Credit Legislation.