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USE USAA AND THE EXTENDED TAX CREDIT TO PURCHASE YOUR CAMPBELL HOME IN COLORADO SPRINGS

Thursday, March 31st, 2011

In a city of over 600,000 where one third of the population are either retired or active military or family of active military, you can imagine the support that military personnel receive in Colorado Springs.  This is a military town and we love having you here.

The military has a rich history in El Paso County with Fort Carson, The United States Air Force Academy, Peterson Air Force Base, Schriever Air Force Base, and NORAD at the Cheyenne Mountain Air Force Station.  And, USAA’s (United States Automotive Association) Mountain States Regional Office, offering competitive banking, financial planning, insurance and home mortgages to military, is also located in Colorado Springs.   Our military families help make Colorado Springs a great place to live.  With five military installations in our backyard, we would like to think that we’re a welcoming destination for today’s military families.

Understanding how difficult a PCS relocation can be on our military members and their families, Campbell Homes seeks to provide you with a peace of mind home purchase and a smooth transition by accepting USAA Mortgage as the preferred mortgage lender for your new home in Colorado Springs.  Campbell Homes will gladly work with you and USAA Mortgage to provide a timely and low stress closing for your new Campbell Home in any of our seven communities.

Additionally, we want to take this opportunity to remind you, that as a military service member, you may still qualify for the $8,000 tax credit for first-time home buyers or $6,500 for repeat home buyers.

 

Based on unique circumstances affecting members of the military, the Foreign Service and the intelligence community, Congress has made the following exceptions for first time and repeat home buyers:

 

Extension of Tax Credit Deadlines

  • The home buyer tax credit is available for qualified purchases with a binding sales contract in place on or before April 30, 2010 and closed by September 30, 2010.
  • However, for qualified service members who are ordered on a period of official extended duty, these dates are extended. For these home buyers, the tax credit applies to sales with a binding sales contract in place on or before April 30, 2011 and closed by June 30, 2011.
  • A person who is forced to return to the U.S. for medical reasons before completing an assignment of at least 90 days of qualified official extended duty outside of the United States may qualify for the one-year extension.

Exemption From Tax Credit Recapture Rules

  • Typically, homes that are sold or that cease to be used as a principal residence within three years of the initial purchase are subject to recapture of the tax credit.
  • However, qualified service members who sell or move from a tax credit home within three years of the initial purchase due to official extended duty are exempt from the recapture rule.

Definitions

  • “Qualified service member” means a member of the uniformed services of the U.S military, a member of the Foreign Service of the U.S., or an employee of the intelligence community.
  • “Official extended duty” means any period of extended duty outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010.

Additional resources are available to assist military families relocating to Colorado Springs:

If you are a military or retired military family relocating to Colorado Springs, Colorado, let our Campbell Homes New Home Specialists help make your move to the Pikes Peak Region a smooth transition. As you search for your new home, you’ll find a lot of builders offering you the lowest priced product in town.  You’ll also find a lot of builders talking about “quality construction” as if it were an amenity.  Or, a grand gesture deserving a pat on the back.  But at Campbell Homes, we see it differently.  To us, quality is simply doing the right thing every time out, no matter what the project.  It means designing the best plans, investing in the best building materials, hiring the best team of craftsmen and offering our military home buyers the fairest pricing for the best built home on the market.

Our communities are conveniently located to the Air Force Academy, Peterson Air Force Base and Schriever Air Force Base.  You will also find our neighborhoods provide for a stress free commute to Fort Carson and NORAD. Our neighborhoods are located in the finest locations and master planned Colorado Springs Communities with excellent amenities and the best schools in Colorado Springs.

To find out more information on purchasing your stylish and comfortable NEW Campbell Home with peace of mind and your USAA Mortgage benefits, visit any of our Colorado Springs locations. Priced from the low $200s, Campbell Homes’ models are open daily to 6 p.m.  Or, for additional information visit our virtual sales office at www.CampbellHomes.com.

 

 

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Some of the nation’s top magazines have a lot to say about Colorado Springs?

Monday, September 20th, 2010

Each week New Homes for Sale Colorado Springs discusses useful information on homes, issues, community and more. Covering a different topic each week, this thought provoking and educational blog is provided by new homebuilder Campbell Homes in Colorado Springs, Colorado.   

Some of the nation’s top magazines have a lot to say about Colorado Springs? In 2006, Money Magazine named Colorado Springs the best big city to live in in their “Best Places to Live” feature. Also, Outside Magazine, in 2009, named Colorado Springs as the number one best city in America. Yes, Colorado Springs, located at the foot of Pikes Peak, is a great place to raise a family, open a business, live, and more.  But, Colorado Springs is also one of the best towns for the military in the country.

Colorado Springs Loves our Military Personnel

In a city of over 600,000 where one third of the population are either retired or active military or family of active military, you can imagine the support that military personnel receive.  This is a military town and we love having you here.

The military has a rich history in El Paso County. Colorado Springs saw its first military base in 1942 shortly after Pearl Harbor was attacked. For several years the city had been trying to attract a military installation to boost its flagging economy. In 1941, the city purchased 25,000 acres (100 km2) of what is now Fort Carson to try to lure a perspective Army installation. During this time the U.S. Army established Camp Carson near the southern borders of the city in order to train and house troops in preparation for World War II. It was also during this time that the Army began using Colorado Springs Municipal Airport. It was renamed Peterson Field and used as a training base for heavy bombers (the airport and base still share parts of the flight line).

 The Army expanded Camp Carson, a venture that increased growth in Colorado Springs and provided a significant area of industry for the city. Camp Carson was named for the Army scout General Christopher “Kit” Carson, who explored the vast western frontier during the 1800s. After World War II the military stepped away from the Springs, Camp Carson was declining and the military was activating and deactivating Peterson Field irregularly. That all changed when the Korean War erupted. Camp Carson, which had declined to only 600 soldiers, was revitalized along with many other parts of the Springs. In 1951, the United States Air Defense Command moved to Colorado Springs and opened Ent Air Force Base (named for Major General Uzal Girard Ent, commander of the Ninth Air Force during World War II).

After the Korean War, Peterson Field was renamed Peterson Air Force Base and was permanently activated. In 1954 Camp Carson became Fort Carson, Colorado Springs’ first Army post. Later that same year, President Dwight D. Eisenhower selected Colorado Springs, out of 300 other sites around the nation, to be the site of the United States Air Force Academy. A new and growing Army post, an Air Force Base, and the Air Force’s military academy together jump-started Colorado Springs’ growth.

The military boom continued and in 1963, NORAD‘s main facility was built in Cheyenne Mountain. This placed NORAD directly next to Colorado Springs and permanently secured the city’s military presence. During the Cold War the city greatly expanded due to increased revenue from various industries and the prevailing military presence in the city. In the mid 1970s, Ent Air Force Base was shut down and later converted into the United States Olympic Training Center. Military presence was further increased in 1983 with the founding of Falcon Air Force Base (later changed to Schriever Air Force Base), a base primarily tasked with missile defense and satellite control. Fort Carson and Peterson Air Force Base are still growing and continue to contribute to the city’s growth. Air Force Space Command is located on Peterson AFB.

Our military families help make Colorado Springs a great place to live.  With five military installations in our backyard, we would like to think that we’re a welcoming destination for today’s military families.  Additional resources are available to military families relocating to Colorado Springs: Military.com

If you are a military or retired military family relocating to Colorado Springs, Colorado, let our Campbell Homes New Home Specialists help make your move to the Pikes Peak Region a smooth transition for you and your family.  Our communities are conveniently located to the Air Force Academy, Peterson Air Force Base and Schriever Air Force Base.  You will also find our neighborhoods provide for a stress free commute to Fort Carson and NORAD.  Campbell Homes’ models are open daily from 10 a.m. to 6 p.m. or you can visit our online sales center twenty-four hours a day at www.CampbellHomes.com.

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