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.  

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.