If you haven't owned a home in the last three years you are considered a first time home buyer. The $8,000 tax credit that the goverment is offering will only be available until November 30th of this year. Buyers need to get in there and buy now. Interest rates are at historical lows, prices are great and a tax credit to boot!

Income thresholds, $75,000 for individuals and $150,000 for joint filers. After those limits the credit begins to phase out. If you bought a home this year and expect your income to be lower than next year's, it makes sense to file for the credit this year using a 2008 amended return.

Go for it!!

 

It's easiest to become a millionaire in Angola, where $10.54 converts to 1 million units of Kwanze currency. Please send me an email when you become a millionaire and I will find you the perfect home.

The market in Oregon is picking up, sales are up and listings are plentiful. 1st time home buyers need to get on the bandwagon and start using the $8,000 tax credit that the goverment has made available.

The rules have now been changed for the 1st time homebuyer gift from the goverment. They will now allow FHA loans to accept it as a down payment or if the buyer would rather they can just get their $8,000 when filing their taxes or amend their tax return from last year and get a check for their credit now. It is certainly a great time to buy. Interest rates are low, tax credit available and prices are lower than they have been for awhile.

I once sold a home for and to a gentleman named Graham. He was the most interesting client that I ever worked with and is to this day. Graham had been an executive for Union Carbide in his younger days and worked many years in India. Oh the stories that he told about his opulent life there that he shared with his family. Graham would always take me to lunch before we would go out looking at properties and always enjoyed a wine with his meal. One year we had an extreme amount of ice and snow but that didn't stop Graham from wanting to get out for lunch and then look at homes. After looking at one of the homes on that day, we shut the door and ice fell off of the gutter and hit Graham on the head. Thank goodness for the wine!! He was relaxed and it didn't bother him a bit. After he sold one home and purchased another we stayed on touch by meeting for lunch occassionally, Graham, myself and his wife Janie. I enjoyed many long phone conversations with him and he would drop articles by the office for me regarding real estate. Sadly Graham has passed away now but he was quite a guy and will forever by in my thoughts.

Did you know that there are home loans still available with no money down and the sellers can pay your closing costs? There are stipulations on all loans that are available in todays market but you would be surprised to find out what is available and how easy it still is to get into a home and make your dreams happen!

Call or email me today for more information.

I am optimistic for the housing market to turn around. For the last several months sales on existing housing has been up and now with the $8,000 tax credit in full swing I think things will really start moving forward. What a great forecast.

With all of the sunshine that we have been enjoying here in the valley and home prices being better than they have ever been I look forward to working with you in the future!!

Reo/Bank Owned/Foreclosures in 2004 there were 270 that sold in the Wilamette Valley Multiple listing Service.

2005-231

2006-140

2007-145

2008-236

and as of January 2009 there were actively on the market 130.

That shows us that the trending market is not what we are hearing on the news. What we are hearing is the national report which is very dismal and not what we are seeing in the Willamette Valley.

A buyer needs to have great patience when purchasing one of these properties as the banks generally will do no repairs (sales are as-is) and sometimes it can take up to six months to get an answer regarding your offer. Unfortunately many times better offers come in during this period and the bank will take the best offer. Another problem with these homes is that the homeowner usually didn't keep the home in good condition and maintain problems as they arose and you could be purchasing a can of worms. Remember there are good deals out there regardless.

Call me if I can help you with your real estate needs.

If you find a home that you would like and have the purchase go through before April 15th, you can get your tax credit this year. Wouldn't it be great to start all of the improvements that you would like to make on your home right away? Wow! Find your home now!!

To get your home ready for sale and to do it at a low cost try to incorporate these items.

1) House plants add a lot to your home. Try grouping some of different heights and fullness or maybe a large one by itself to add color or to make a statement.

2)Get rid of clutter and unneeded items. Rearranging furniture can make a big difference also if you don't already have enough, just adding accessories, rugs, and lamps to make the room have a new look. Make sure that all of the colors enhance each other or have the same tones.

3)Painting is a great way to freshen up a home. Make sure that you test a sopt before painting the whole room to make sure that it is going to be the shade that you were after. Dramatic colors are best in bathrooms and diningrooms, and neutral colors in the living area. Buyers like to be able to picture themselves in your home and you want them to be able to picture their furniture as well. If you are unable to paint, please try to camoflage any nicks and dings.

4)Try replacing cabinet hardware, switch plates, toilet seats, exterior house numbers and try updating light fixtures.

5)Cleaning!! Look at your home with someone elses eyes and make sure that you home is clean and clutterless. Sometimes this is hard to see and you might want to ask for an objective view point.

6)Clean up the Yard. Leave pots of flowers at the front porch. Paint your front door. First impressions are everthing!

 

In real estate we have a term called short sales. Usually this type of sale is a home that is priced not high enough to clear all debt, liens and costs of the sale and also would require approval by a third party or other parties not in title. Many times approval by the lender is required. It seems most times that the lender will wait till the very last minute to give approval because they naturally are waiting to get the very best possible price.

Some of the risks;

Multiple offers may result in multiple escrows and earnest money deposits and so then multiple terminations must be drwn up to return the earnest money to the unsuccessful deals.

The third party can ask that the property continue being marketed, which can lead to many more offers.

The deal is not final until the third party has agreed regardlesss of whether the buyer and seller have agreed.

The third party might not agree until the last minute.

The third party may not like the contract and require changes.

The third party may not accept the deal and therefore making the deal fail.

The buyer may lose money if they go ahead with their due diligence by having inspections, etc. done before third party approval and then having the sale fail.

Short sales can be complicated and have a more than average rate of failure.