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Welcome to Bainhomes.com the web site of the Bain Team -- Tom Bain, Realtor®, G.R.I., and Jean Bain, Realtor®, e-Pro®. Our purpose is to provide Buyers and Sellers with the highest level of service and most complete information possible. We are partnered with Coldwell Banker Burnet to give our clients a true one-stop-shopping opportunity for home buyers and sellers. These services include the professional coordination of the home search, property marketing, negotiation of purchase or sale and details of closing. Our 20+ years of experience along with the Coldwell Banker Burnet resources make us a winning combination for you!
Watch our video to learn about our services:
As a Buyer or Seller in the market, you deserve:
 — Complete market data, not slick sales pitches.
— Representation with strong negotiating for you.
— Top of the line marketing and technology services to differentiate you.
— Step-by-step assistance with all phases of buying and selling.
— An advocate and partner with experience!
If you're interested in Buying or Selling, give us a call. It pays to shop around and see what the market has to offer. We're convinced that the knowledge, services, experience and commitment we offer is top of the line!
IN OUR QUEST TO BRING THE MOST ATTENTION TO OUR CLIENTS' LISTINGS, we had a listing of ours featured on the "Today Show" on November 13, 2009.
Visit msnbc.com for Breaking News, World News, and News about the Economy
Market Update – Keeping You Informed (SEE TAX CREDIT EXTENSION ANNOUNCEMENT BELOW!)
The current economy and resulting real estate market is very challenging. Now, more than ever, real estate professionals AND Buyers and Sellers need to be aware of the current market situation in order to make informed decisions.
Click the links below to see the LATEST real estate statistics showing Active and Recently Sold properties from the Minneapolis Area Association of Realtors for the following cities:
Also, according to the Minneapolis Area Association of Realtors:
Housing Tax Credit Extended and Expanded -- November, 2009
Bringing the Dream of Homeownership Within Reach
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:
- Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
- Expands the credit to grant a $6,500 credit to current home owners purchasing a new or existing home between November 6, 2009 and April 30, 2010.
Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream.
Who Qualifies for the Extended Credit?
- First-time home buyers who purchase homes between November 6, 2009 and April 30, 2010.
- Current home owners purchasing a home between November 6, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase
Which Properties Are Eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Is Available?
The maximum allowable credit for first-time home buyers is $8,000.
The maximum allowable credit for current homeowners is $6,500.
How is a Buyer's Credit Amount Determined?
Each home buyer’s tax credit is determined by tow additional factors:
- The price of the home.
- The buyer's income.
Price
Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.
Buyer Income
Under the Extended Home Buyer Tax Credit, which is effective on November 6, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.
These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 5, 2009, please see 2009 First-Time Home Buyer Tax Credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.
Can a Buyer Still Qualify If He/She Closes After April 30, 2010?
Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.
Count on us to supply you with the most current and full information on the market including detailed data on your home and/or the homes in the areas you have interest!
  
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The materials contained within this page may not be reproduced without the express written consent of COLDWELL BANKER BURNET. The information herein is believed to be accurate and timely, but no warranty as such is expressed or implied.
