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How Do I Qualify For The Newly Extended Home-Buying Tax Credit If I presently own my Primary Residence?

http://www.irs.gov/newsroom/article/0,,id=206293,00.html

Q:  I’m already a homeowner. If I buy a replacement home after Nov. 6, 2009, to use as my principal residence, do I have to sell my home to qualify for the homebuyer tax credit?

A:  If you meet all of the requirements for the credit, the law does not require you to sell or otherwise dispose of your current principal residence to qualify for a credit of up to $6,500 when you buy a replacement home to use as your principal residence. The requirements are that you must buy, or enter into a binding contract to buy, the replacement principal residence after Nov. 6, 2009, and on or before April 30, 2010, and close on the home by June 30, 2010. Additionally, you must have lived in the same principal residence for any five-consecutive-year period during the eight-year period that ended on the date the replacement home is purchased. For example, if you bought a home on Nov. 30, 2009, the eight-year period would run from Dec. 1, 2001, through Nov. 30, 2009. (11/17/09)

Check out this video:

http://video.foxbusiness.com/v/3965326/good-time-to-buy-a-home?playlist_id=87185

Existing home sales rose again in November as first-time home buyers rushed to close before

The November 3oth deadline. Although the deadline has been extended to April 30^th and has now vamped up to include home buyers wishing to purchase a new primary residence

qualifying them for a $6,500 tax credit……

http://www.realtor.org/press_room/news_releases/2009/12/another_respond

Waiting To Buy A House???? Waiting Will Cost You Dearly!!!....

The average 30-year fixed rate loan with no points or fees is around 5%, as of today.

With rates being so well below the historic averages, it should drive all current and prospective homeowners

to take heed of this once in a life-time opportunity. And it’s exactly that, an opportunity of a life-time……

http://www.businessweek.com/lifestyle/content/dec2009/bw2009127_753974.htm

Hire the right Listing Agent for you….Not all Listing Agents are created equal or have the same marketing techniques. Talk to friends, colleagues and neighbors and see who they may recommend and interview multiple agents before making a hiring decision. A professional Agent will present their marketing plan and it’s important to come to a mutual agreement ahead of time. Make sure your Agent gives you weekly feedback and communication on your property, keeping you in the loop at all times. Good communication on both sides is a key factor to a successful closing.

Thank you for Checking out my Blog…..More Top Issues To Come…Check Back!

Two Distinct points of REJECTION……..If you’re getting a slew of Buyers coming in to view your property, but no offers, we call this Buyer rejection and usually with Agent feedback it can be determined what specifics are turning buyers away. Savvy sellers tend to be proactive in this area and correct the issues. If you’re not getting any showings on a regular basis, we call this Agent rejection and in most cases price is the determining factor for the market and can be rectified very quickly by adjusting the price accordingly.

More helpful hints to pricing your home to follow….Check back!

Get a Pre- Appraisal, Pre-Inspection Reports, and Home Buyer’s Warranty……..All Buyers like to know up front any information or material facts on a property. It makes their decision making process easier.

Getting a Pre-Home Inspection on the property up front shows a good will to the Buyer and discloses any possible hidden issues. Although you would not necessarily need to fix or repair all issues they would need to be disclosed, but if at all possible addressing these issues ahead of time makes the Buyer feel much more at ease in moving forward with an offer. A Home Buyers Warranty is a great insurance policy for future mishaps and repairs for a new homeowner, again easing them into home ownership with little concern. The Pre-Appraisal is more for your benefit and used to help you and your Agent have more of a Negotiating leg to stand on, not to mention getting your home priced right from the get go.

More helpful hints to pricing your home to follow….Check back!

Curb Appeal and Staging……..goes a long way. A potential Buyer’s first impression is curbside. Make sure you have paid close attention to the outside otherwise when a Buyer looks at your home either on the Internet or when they first drive up, the impression of a well maintained home could be a determining factor. Pay close attention to the yard, flowerbeds, windows, clutter, dirty roof, chipped paint and the list goes on. Staging or setting a scene in each room goes a long way to providing an emotion in the eyes of a potential Buyer. A good Listing Agent can be those set of eyes to give you the constructive feedback, as well as a professional Stager to direct you in setting the scene. Certainly the rewards of professional staging is money well spent and will provide you with a better return than you initially put out. Your Agent can give you a list of Professional Stager’s he or she works with on a regular basis. Remember…Attention to Detail!!! CLICK ON THE TAB ….CURB APPEAL LIST & STAGING YOUR HOUSE.

More helpful hints to pricing your home to follow…..Check back!
And... Have a Very Happy Thanksgiving!!!

Selling Your Home Takes Work….Part 3

Offer Selling Agent Bonus……..The Agent that brings a potential Buyer to your home is called the Buyer’s Agent or Selling Agent. In today’s market called a “Buyers Market” an added incentive to drive Agents to show your property more frequently may be just the motivation they need to work harder and to get top dollar for your property. I know many of you don’t like the thought of placing more commission in the Agent’s/Agency pockets, but the truth of the matter is, that Agent will work harder to get that property to closing, so ultimately it ends up being a win win situation all around.

Offer Incentives and Perks to the Buyer…..If a Buyer is sitting on the fence mulling over a few properties of interest, dangling a carrot in front of them may just be the determining factor to close. Consider incentives such as, paying “X” amount of dollars toward Buyers Closing Costs, pay for inspections or repairs, or home improvements, allowances or credits toward a particular improvement or upgrade after closing, or prepay property taxes or an annual country club membership fee at closing. Think of perks that would help to close that deal and set your home apart from others.

More helpful hints to pricing your home to follow…..Check back!