How Can Sellers Benefit from the $8,000 first-time Home Buyer’s Tax Credit?

It may not seem that the November 30th expiration date for the $8,000 tax credit is close, but it will be here before you know it.   Buyers know this, and they are out in full force! And yes, home prices are going up!

Sellers can benefit from this anticipated demand. Actually, we are already seeing the demand.   Ask our buyers!   They will tell you that they cannot get to a listing fast enough.   If you are thinking of listing your home here are some ideas to attract first-time buyers.

  • Your home should be priced appropriately. Real estate agents will   look at comparable homes on the market, as well as ones that have recently sold.    
  • Make sure your home is well maintained and seems lived in. This will help buyers imagine themselves living in your home. A  fresh coat of paint and  decluttering is always a positive!
  • Entertain all offers, even if they seem low. Any offer is a good offer and opens the door to negotiations. I do have to say that we are seeing a big change in buyers.   There are not as many LOW offers.   This is a huge sign that home prices in our area are increasing.

How to get your home noticed by today’s buyers?

Home-buyers are becoming much more interested   in purchasing an energy-efficient home. With the warm weather months upon us, we are seeing buyers who are looking at a home’s cooling costs and energy-saving features.

Get started by making some of these simple improvements to your home to help lower monthly utility bills, increase your property’s overall appeal and reduce the impact on the environment:

  • Contact your utility company to arrange for an energy audit that will show where the home is energy inefficient.
  • Caulk and use weather stripping to fill air leaks around doors and windows. This will minimize the amount of air conditioning that is required to keep the house cool. It will also help keep the house warm during the winter months.
  • If you will be purchasing any new appliances, choose energy-efficient units that appeal to buyers because of the savings on energy costs.
  • For a major project like installing new windows, double-glazed windows are recommended because they help insulate the home from both hot and cold weather.

 

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!