What is HOME and How Will it Help Buyers!

In short, The Home Ownership Move the Economy Act of 2009, also known as HOME, would expand the first-time home purchaser credit.

This Act, if passed, would amend the Internal Revenue Code by:

-Extending the first-time home buyer tax credit to all individuals.   (The buyer would have to be purchasing a principal residence.)  

-The Act would extend the credit through 2010.  

-Finally, it would repeal the limits on such credits based on modified adjusted gross income.  

**  I am also hearing that the tax credit may be increased.**

As I receive more information, I will pass it on to you.  

New Home Builders and Customer Service

Recently, I have been asked  more and more about new home builders in our area.    While so many of our buyers are tired of going the short-sale/foreclosure route and  can’t find a traditional sale, they are turning to  new homes.       My clients can  tell you how crucial it is to have an agent on your side to represent you and your interests.    

In our area Richmond American Homes has opened a brand new model in  Glenkirk Estates.    This gorgeous neighborhood is located in Gainesville.  My clients who have worked with Richmond American Homes, have had all positive reviews.    I have to tell you they have incredible customer service.  

If you have question about  building a new home, let me know.    

Do You Feel that the Square Footage in New Homes is Shrinking?

Statistics from the National Association of Homebuilders show that the square footage of homes has shrunk in recent years. This is a trend that is likely to continue given the current economy.This may be an opportune time for owners of smaller homes to sell, according to a recent article published in Realty Times, which provided these tips for giving a small home big appeal to buyers:

  • Accentuate storage space. A buyer must sense that a smaller home has enough storage space to accommodate their everyday needs. Clear out the attic and/or basement if the home has them. In addition, built-in furniture or custom closets also provide convenient, hidden storage.
  • Create an office niche. Home offices are very popular, but a smaller home might not have an extra room to use for this purpose. Using a decorative screen around a small desk or tucking one away beneath a staircase shows buyers how they can still have a home office in a small space.
  • Make the most of space. In the kitchen, clear appliances from the counters and mount them under the cabinets for a clutter-free look. Avoid crowding a small living room with an oversized couch, and instead consider several comfortable chairs that may fit better and open up the room.

Foreclosures On the Rise? Not So Fast….

The media has been reporting another surge in foreclosures.  

Here we go again…..Not so fast!    

We have not seen this new surge in our market.   The majority of homes that are on the market are short-sales and they are going fast.   If you are lucky enough to find a foreclosure, you need to be ready for multiple offers.   What about traditional sales?   These are homes that are not underwater.   There is a HUGE demand for these.  I am seeing traditional sells go  for 10 to 20K over short sales and foreclosures.   Our market is changing!   New homes in our area are increasing thier prices, not just a couple of thousand, but up to 20 thousand in some areas.    If we continue to see this trend through the  Fall and Winter,  this will  definatly give our sellers an advantage.