Valuable Information for Buyers!!!

The economic stimulus plan signed into law in February included a financial incentive for first-time buyers — an $8,000 tax credit, that unlike past versions does not need to be repaid. Combined with historically low interest rates and more affordable home prices, the tax credit has made the decision to purchase real estate an easy choice for many buyers.Review the following information to see if you are eligible to take advantage of the tax credit:

  • The home purchase closed/will close on or after Jan. 1, 2009, and before Dec. 1, 2009.
  • The home is being used as a principal residence.
  • You have either never owned a home, or have not owned a home in the last three years.
  • Your modified gross income is less than $95,000 for single tax payers or $170,000 for married filers.

Open House on April 21, 2009 at 8045 Montour Heights Drive, Gainesville, Virginia 20155

On April 21, 2009 at 11:30 AM, you are invited to an Open House at 8045 in Gainesville. If you are looking for a property in this area, don™t miss this rare opportunity to visit this magnificent property. For a preview of this property, check out my site at http://www.candiceskoby.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

Valuable Information to Share with Buyers and Sellers from Our Weichert Team!

Spring is here, and that means blooming flowers, green grass and the return of yard work. If you are selling your home during the warm weather seasons ahead, it is important to spend some time sprucing up your home’s exterior.The goal in creating a well-kept yard is to give potential buyers a positive first impression, while also making them feel that your property is easy to maintain. The following tips can help achieve these objectives:

  • Prune overgrowth. Trees can hide a home’s best features if planted too close to the house or if they are allowed to grow unchecked. Be sure to remove any branches that touch the house, cover a window or block a path.
  • Blast winter away. Use a power washer to remove the cobwebs, mold and dirt that have accumulated over the winter. This is a quick and easy way to improve the appearance of decks, patios, fences, windows and siding.
  • Add color. Use potted flowers and hanging baskets to direct attention to your home’s finest features. Plant low-cost annuals such as impatiens, petunias and geraniums, and use mulch that retains its color throughout the season for added impact.

Open House on April 19, 2009 at 8045

On April 19, 2009 at 12:30 PM, you are invited to an Open House at 8045 in Gainesville. If you are looking for a property in this area, don™t miss this rare opportunity to visit this magnificent property. For a preview of this property, check out my site at http://www.candiceskoby.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

What Does the Homeowner Affordability and Stability Plan Mean to You?

 The key elements of this plan are:

1.   Incentives would be given to mortgage lenders who will modify loans to reduce mortgage payments  and provide help to up to 4 million homeowners having difficulty making payments.

2.    Fannie Mae and Freddie Mac would be allowed to refinance mortgages they own or guarantee. This could be done even if the homeowner owes more on the home than it is worth.  

3.     Mortgage rates would be kept low for all buyers.   This would be done by providing more support to Fannie and Freddie Mac.

This plan will be funded with money that comes directly from the $700 billion financial industry bailout. This plan was designed to help homeowners facing foreclosures, by giving them the opportunity to restructure or refinance their mortgages.  

It might seem that this plan is only going to help people who are defaulting on their mortgages, but defaults and foreclosures continue to bring down the market and this results in lower home prices for all of us.   Almost everyday, I hear, “When will home prices go up?”   In my opinion they will go up as soon as we can get all of these foreclosed homes off the market.  

 

Market Statistics!

Good news!

The   National Association of Realtors is reporting that existing home sales increased in the month of December.   I do feel this is in direct response to homes becoming more and more affordable.   On the other end, the construction of new homes declined in December.  

We are seeing historically low interest rates combined with the affordability of many homes to choose from.   It really is an incredible to to buy a home!

Selling During the Holidays?

During the holiday season, I frequently hear seller’s saying the holiday season is the worst time for selling.   While the pool of buyers might be slim, there are still buyers out there. Consider these positives  of keeping your home listed during the holidays:

  • Your home  isn’t going to sell if it’s not even listed. By leaving it on the market, you are likely to attract the motivated buyers who tend to house hunt during the holidays.
  • If others are taking their home off the market…which causes a reduction in inventor, and  you leave yours on, there is a greater opportunity of a buyer viewing and purchasing your home.
  • When tastefully decorated for the holidays, a home is extra inviting. During this time of year, buyers will be able to  envision their own family celebrating in the cozy environs of your home.

4.9%!!!

Rates for Mortgages have dropped substantially in direct response to our governments actions in the past week!  

30 year mortgages have taken a significant cut after the FED and the Treasury Dept. moved to free up credit for buyers.   As a direct result of these actions mortgage applications soared nationally!  

It is a GREAT time to BUY!

One of my most frequent question I recieve from my clients is:

Is it really a good time to buy?

In my opinion it is a great time to buy, and here are some reasons why.

For many reasons, now is an excellent time to purchase a home.  There are many factors that work in favor of homebuyers, especially those looking to make their first home purchase.

  • Housing affordability continues to improve consistently. In fact, affordability is as high as it has been since 2003.

  • While the number of homes on the market has started to decrease,  home buyers still have a wide variety of homes to choose from. This makes it more  likely buyers will find their dream home.

  • Despite the news headlines, mortgage money is still available.   The government has many initiatives underway to ensure that mortgages flow to qualified customers. At Weichert, nine out of 10 people that come to us are approved for a mortgage.

  • First-time buyers can now take advantage of a limited-time opportunity to receive a tax credit of up to $7,500 when they close on a home purchase before June 30, 2009.