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Wow.....Look What's New !!!! FHA Limits and Tax Credits

by Pamela J. Windom, p.c.

Purchasers that are new to home ownership (haven't owned a home in the past 3 years) can begin to take advantage of the "up to" $8,000 tax credit with no payback requirement,  made available by the federal government.  Visit the following link for more details:  http://www.irs.gov/newsroom/article/0,,id=204672,00.html   What an incredible opportunity to get into the market while prices are down, inventory is high and interest rates are fantastic!  Home ownership is an investment in your future, that comes with immediate benefits!

Another great piece of information to come out in the last couple of days is that FHA lending limits have just been raised back up to what they were near the end of 2008. 

Per the HUD Website, new FHA loan limits are as follows.......

Single Family Dwelling:  $343,750

Two Family Dwelling:  $440,050

Three Family Dwelling:  $531,900 

If you have explored a new home purchase or re-finance option within the last 2 months and FHA was not an option, please check back with your lender.  There may now be funds available to assist you.

As you can see, things are changing at a rapid pace.  Stay tuned.  More to come..........

On the Market or Ready to Sell?

by Pamela J. Windom, p.c.

There is a difference……a big difference. Anyone can put there home on the market, the key to getting your home sold, is having it ready to sell. 

 

First Impressions:

    Stand back and take a long look at your home from the curb. Does it have “curb appeal”?  Do you understand how easy it is for a buyer to drive off and never even get out of the car?  Trim the hedge, clip the grass, wash the windows, put some fresh bark down, plant a few color spot flowers…..give the buyer a reason to want to look inside. 

 

Clear the Clutter:

    Are there coats and backpacks and shoes in your entry hall?.....Put them away.  Make it easy for buyers to move freely about your home and view its features.  Put away excess magazines, family photos, appliances on the counter, etc….  The key is to have people admire your home, not your belongings.

 

Secure the Pets:

    Do you know how your pets react to having people in your home, when you aren’t around?  Be they friendly or otherwise, it is a stressful situation for pets to see strangers in your home when you aren’t around.  If a potential purchaser is coming to view your home, see that your pets are secured, or better yet, take them for a walk or a ride in the car.  The purchasers won’t be distracted by the pets and you won’t have to worry about people interacting with them.

 

Stage:

    Put your best foot forward.  Getting rid of clutter is just the start.  Make sure your colors are neutral, get rid of oversized furniture pieces that detract from the rooms in your home, showcase the natural features of your home and consider bringing in rented, more contemporary furniture. 

 

Price: 

   A very simple motto to follow in our current market is that your home should provide...

                   More for the same…..OR…..The same for Less

 

NOW…Get Ready, Stage and Sell

Market Watch February, 2009

by Pamela J. Windom, p.c.

Is the whole idea of purchasing a home a big puzzle to you?  2009 is all about the variables....the puzzle pieces.  Let me help you put a few of the pieces in place, so you can get a clear picture. 

 

Availability of Money:  Are you thinking it is difficult to get a loan?  Finally, the purse strings are beginning to loosen and money is beginning to flow.  I highly recommend that you make a plan and get your credit cleaned up and in order as a first step toward investing in real estate.  Payoff any small credit card debt you may have and clear it off your record.  If your credit scores are already in good shape…..Bravo! 

 

Interest Rates:  Can they get any better???? Maybe and maybe not.  If you try to time the market to get the best rate, the only way you really know when rates have hit their low, is after they begin to climb again.  Interest rates are fantastic…..RIGHT NOW!  If you are in a position to make a purchase, get the ball rolling.  Visit a lender and get pre-approved, so when you find the house you love, you are ready to lock your loan.

 

Government Tax Benefits:  Federal officials are currently working on legislation as part of the economic stimulus package to help give a bump to the real estate market and get things rolling.  Stay tuned for incentives that may be beneficial to you.

 

Market Inventory:  The inventory of homes currently for sale is high and there are some great deals available.  Getting pre-approved will put you in the best position to negotiate a great deal, when you find the home of your dreams.  Search the home inventory available on this site and get to know the market, so you will recognize a great deal when you see one.

 

Timing:  They say that timing is everything…..Interest rates are fantastic and available home inventory is high, so all you have to do is make sure you are ready to make your move when you find the perfect home. 

Call me today and I can help you put the pieces of the puzzle into place. 

 

 

         

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