The IRS just released a revised Form 5405 to reflect the changes to the tax credit made in the extension enacted in November 2009. The release reminds taxpayers that all tax returns claiming the tax credit must be filed manually (i.e., they cannot utilize the IRS E-File automatic system). The revised form includes a section for those repeat buyers who are eligible to claim the $6500 tax credit. The HUD-1 (the settlement statement sheet you get at a closing) must be filed with all returns claiming the credit (both the $8000 and $6500 credits). Individuals who claim the repeat buyer credit must also provide evidence that they have owned and used the prior residence for 5 consecutive years. The instructions indicate that property tax or homeowners insurance records are sufficient for this purpose.  Here is a link to the IRS website for ALL the FUN Details!!!!

Finished taking off the ceiling and the rest of the floor. Keeping a worksite clean while removing lathe and plaster is a job in and of itself. We plan on framing in some walls and starting the plumbing and electrical this week.

Our current project is combining an upstairs bath and an adjoining room to make a new master bath and dressing area. The photos above are from the same angle showing the wall between the rooms being taken out.

Welcome to our new blog site.  I am really looking forward to having a blog and the interaction it will bring with you all.  I am going to try and blog at least once a week if not more so please come back here often.  I plan on posting info and thoughts on remodeling jobs I am currently working on.  I will also probably share my thought on the real estate side of things too.  Feel free to leave your comments I would like to keep the forum open for questions and answers about any topic related to housing. Blog On!