Just wanted to remind those potential buyers who are considering purchasing a primary home the tax credit deadline is quickly approaching.
First time homebuyers, those people who have not owned a home in the last 3 years, have until April 30 to put a house under contract. All signatures needed to authorize that sale have to be in by that date. That also means if you are offering on a short sale, the bank's approval as well. You then have until the end of June to close.
An $8,000 tax credit is nothing to sneeze at and is definitely swaying buyers to buying now.
The home must be your primary home. There is an income limit of $125,000 for an individual and $225,000 for a couple filing jointly.
Repeat buyers are also eligible for a $6,500 tax credit. You must still be buying your primary home, however. You must also have owned the same home for 5 out of the last 8 years.
This is perfect for those people who are looking to move, downsize, or upgrade.
If you decide to sell the new home within 3 years you must repay the credit.
This tax credit is definitely having an impact on the market. Not only are prices down and interest rates LOW, LOW, LOW, you now have an added incentive to buy!
Banks are definitely lending money. Of course, you pretty much have to have full documentation now, and you have to have good credit.
Interest rates are still great!
30 yr Fixed FHA/VA- 30yr Fixed 30 yr JUMBO
4.875% - 5.125% 4.875% -5.25% 5.625%- 6.0%
15 yr Fixed Interest Only ARM - Jumbo Condos
4.375% - 4.625% 5.125%-5.375% 4.875%- 6.375%
We are once again having bidding wars! Properties that are priced right are receiving multiple bids. If you want it, you can no longer go in low and expect a lot of negotiating. If it's really priced at a point you can't believe, don't delay, offer very close to asking price!
If you find a property you are interested in and it is just listed way to high for you to consider, I wouldn't rule it out. It really doesn't cost you anything to make an offer.
It is important to look at the properties that have sold (comps) that are similar to the one you like to come up with a realistic market value.
There is nothing wrong with paying market value, not every purchase has to be a "steal" to be a good deal. If you plan on using the property for the next 5-10 years paying market value is still worth it!!!!! Market value, in my opinion, is what it would appraise for. I can help you determine that by researching the recently sold properties. If the seller is not willing to sell it at that price, you simply keep looking!
Chip has updated his website www.charterboat-missmary.com
He has great pictures and videos, check it out!!! Several pictures are from the camera of Marie Stephens at Emerald Coast Jewelry in Mexico Beach! Thanks Marie! She is a great photographer and has a great shop in Mexico Beach as well!!!
Don't forget the Mexico Beach annual Gumbo cook off is February 13! Brunswick stew has been added. You have to register to enter.
It is always a good time and delicious as well!!!
I just sent out my real estate deals newsletter. If you didn't get it, let me know. If you want, let me know. If you don't want it and you got it, let me know that too!!!!
Have a great week and don't forget ..................7 days without prayer makes one weak!!!
I couldn't help but in these great quips below. Just for you to enjoy!!!!
Random Thoughts for the Day:
1. I think part of a best friend's job should be to immediately clear your
computer history if you die.
2. Nothing sucks more than that moment during an argument when you realize
3. I totally take back all those times I didn't want to nap when I was
4. There is great need for a sarcasm font.
5. How the heck are you supposed to fold a fitted sheet?
6. Was learning cursive really necessary?
7. Map Quest really needs to start their directions on #5. I'm pretty sure
I know how to get out of my neighborhood
8. I can't remember the last time I wasn't at least kind of tired.
9. Bad decisions make good stories.
10. You never know when it will strike, but there comes a moment at work
when you know that you just aren't going to do anything productive for the rest
of the day.
11. Can we all just agree to ignore whatever comes after Blue Ray? I don't
want to have to restart my collection...again.
12. I'm always slightly terrified when I exit out of Word and it asks me if
I want to save any changes - to my ten-page research paper that I swear I did
not make any changes to.
13. "Do not machine wash or tumble dry" means I will never wash this thing
I have-- ever.
14. I hate when I just miss a call by the last ring (Hello? Hello? Darn
it!), but when I immediately call back, it rings nine times and goes to
voicemail. What'd you do after I didn't answer? Drop the phone and run
15. I hate leaving my house confident and looking good and then not seeing
anyone of importance the entire day. What a waste.
16. I keep some people's phone numbers in my phone just so I know not to
answer when they call.
17. When my son was about 4-years old he asked me in the car "What would
happen if you ran over a ninja?" I had no idea. How the heck do you respond to
18. I think the freezer deserves a light as well.
19. I disagree with Kay Jewelers. I would bet, on any given Friday or
Saturday night, more kisses begin with Bud Light than with a Kay jewelry