Welcome to North Shore Real Estate

Real Estate in Alger, Baraga, Dickinson, Keweenaw, Ontonagon,  Marquette, Houghton and Iron Counties in the Upper Peninsula (U.P.) of Michigan

You have arrived at the North Shore Real Estate website.  Your source for real estate in the Upper Peninsula (U.P.) of Michigan.  We strive to make your search for upper michigan camps and cottages, waterfront property, riverfront property, residential lots / Upper Michigan Homes, vacant land, multi-family and commercial property a snap to find. 

We serve the following counties in the U.P. but are not limited to these areas.  Alger County, Baraga County, Dickinson County, Marquette County, Houghton County and Iron County.  Our real estate agents have the training and the specialized tools to make any of your real estate transactions as smooth and stress-free as possible.  If there is something in particular that you are looking for we can assist you in finding your dream home or that piece of land that you've always been searching for.

Our philosophy at North Shore Real Estate is to make sure that our clients are treated with respect and fully understand every aspect of the buying or selling process.  Buying your first home or even a second home is a very stressful process and we are here to help you out with all the details to make sure that your buying or selling experience goes as smoothly as possible.  We answer all of your real estate questions and address all of your concerns as promptly and as professionally as we can in an informed and forthright manner. 

 The Basics: Extended Home Buyer Tax Credit 2009/2010

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 up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 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. If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.

Latest news:
Tax Credit Extension a Positive Step Toward Real Estate Recovery (Nov.5)
President's Podcast: Tax Credit Extended (Nov. 5) 

Who Qualifies for the Extended Credit?

• First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
   
• Current home owners purchasing a home between November 7, 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.

If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see: 2009 First-Time Home Buyer Tax Credit.

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:

1. The price of the home.
2. 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 7, 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 6, 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.