There may be nothing so sacrosanct in Buckhead real estate as the open house. But, upon closer inspection, do open houses fall within the boundaries of productive marketing or seller appeasement?
Many agents, especially those with more listings than they can effectively manage, often allow inexperienced agents to hold their listings open. This is usually done to make the seller think they are working hard to sell their home. These newly-licensed agents know little about your home or neighborhood, but often know less about qualifying potential buyers. If a couple of directional signs, some balloons and a plate of cookies was all it took to sell a home, sellers wouldn't need real estate brokers in the first place. The fact is, less than 1% of homes ever sell as a result of an open house.
The truth is that open houses have an extremely limited window where they are actually beneficial to the seller. Here's why; when your home is new to the market, potential buyers - and agents - want to see it. If it is priced correctly, all repairs made and staged appropriately, an open house can be a great opportunity. But that opportunity only lasts for a few weeks. After that, most agents and buyers are familiar with the house.
After the first few weeks, if an agent agrees to hold an open house, it's for one thing; to meet potential buyers. The agent is using your home as a lure in hopes of catching buyers who, oddly enough, most likely will not purchase your home.
Conrad Lyles Realtors specialize in Buckhead real estate
Tuesday, November 16, 2010
Tuesday, October 26, 2010
Existing-Home Sales Show Another Strong Gain in September
RISMEDIA, October 26, 2010—Existing-home sales rose again in September 2010, affirming that a sales recovery has begun, according to the National Association of Realtors. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, jumped 10.0% to a seasonally adjusted annual rate of 4.53 million in September from a downwardly revised 4.12 million in August more...
Friday, October 15, 2010
Be Market-Smart: Dos and Don’ts for Home Sellers and Buyers
RISMEDIA, October 13, 2010—It would be unrealistic to say that the real estate market is utterly rosy right now, but neither is it thorn-filled by any means. In fact, things are decidedly looking up: July got some good news, when the National Association of Realtors reported that pending home sales rose 5.2% from downwardly revised June levels, beating economists’ expectations. This is good news for both buyers and sellers.
While challenges still exist—for instance, getting the best price when selling, or securing financing when buying—there are some once-in-a-lifetime opportunities out there, and plenty of happy results can be had for both buyers and sellers. The key for both groups is to remain flexible, adaptable and diligent. To that end, here are some dos and don’ts for today’s buyers and sellers:
For Sellers:
DO’SBe flexible. Often it’s the little things that push a buyer into the “yes” zone. If the buyer goes on and on about how much they love your icemaker, throw it in. If the closing has to be pushed ahead more than you expected, try to be as flexible as possible and pack the moving van a little quicker.
Clean up. One person’s prize doll collection is another person’s cluttered nightmare. Similarly, a living room filled with Beanie Babies could elicit a reaction of fear, rather than “Aw, how cute!” from a buyer. Put away any personal collections that not only cause clutter, but also make it hard for a buyer to see the home as his or hers, rather than yours.
DON’TSDon’t be greedy. The market—not your emotions—dictates your home’s price. If comparables in the area, and several trusted real estate agents tell you your home is worth $400,000, you’re not fooling anyone by pricing it at $500,000—and you’re only doing yourself a disservice. Pricing it at market, even a little below, could generate a bidding war, and ultimately get you more money.
Don’t get personal. If you’re selling your house for a certain amount, and someone offers something much lower, don’t take this as a personal affront and refuse to counteroffer. Letting your emotions get in the way can potentially ruin the deal. What’s the harm in making a counteroffer?
Don’t procrastinate. In the current climate, you might be scared to try to sell your home, as you may have to face a lower selling price than you may have gotten before the recession. But remember, the house you buy might be even lower, commensurately. It’s all relative. So if you’re serious about selling, consider doing it now. Also, acting before the cold months come is a good idea, as the winter months are historically harder for home sales.
For Buyers:
DO’SGet a home inspection. It’s important to hire a trusted home inspector to check out the house’s potential issues and problems. Don’t skip a home inspection because you’re afraid of what you might hear—many issues sound more serious than they actually are, and can be fixed easily. And if something deal-breakingly serious is turned up, as disappointing as that is, it can save years of heartache and financial outlay. Better to walk away from a clunker.
List your place before you look for another. If you’re truly serious about looking for a home, list your place first. In the current economy, banks want to make sales as uncomplicated as possible—and contingency sales, which can be very complicated, are often rejected.
Talk before you act. Don’t ever start a home search without a firm budget not only in mind, but literally written down. Mutually agree with yourself—or with your partner, if you’re buying with someone else—long before you start seriously searching. Going out of that zone because of a place you just “gotta have,” or are emotional about, could put you in dire financial straits later. You don’t want to buy a house that isn’t affordable for you, and then be worried about paying for dinner and a movie on Saturday night.
DON’TSDon’t be a design snob. If someone’s enormous bathroom has wallpaper border containing frolicking kittens and pastel flowers, or a wall that’s a nuclear shade of green, we understand this can send you into style shock. But stand fast and ignore bad décor. Instead, try to envision the space raw. Besides, you can always redecorate once the home is yours.
Don’t make a silly offer. There’s nothing wrong with making an offer below asking price—it’s no secret that today, many homes are selling for under the asking price. But going 40% below the asking price may anger the seller. Some sellers, especially more emotional ones, won’t even bother counter offering an outrageously low offer. Feel free to make a deal—just don’t make an offer so low that you’ll be kicked off the table.
While challenges still exist—for instance, getting the best price when selling, or securing financing when buying—there are some once-in-a-lifetime opportunities out there, and plenty of happy results can be had for both buyers and sellers. The key for both groups is to remain flexible, adaptable and diligent. To that end, here are some dos and don’ts for today’s buyers and sellers:
For Sellers:
DO’SBe flexible. Often it’s the little things that push a buyer into the “yes” zone. If the buyer goes on and on about how much they love your icemaker, throw it in. If the closing has to be pushed ahead more than you expected, try to be as flexible as possible and pack the moving van a little quicker.
Clean up. One person’s prize doll collection is another person’s cluttered nightmare. Similarly, a living room filled with Beanie Babies could elicit a reaction of fear, rather than “Aw, how cute!” from a buyer. Put away any personal collections that not only cause clutter, but also make it hard for a buyer to see the home as his or hers, rather than yours.
DON’TSDon’t be greedy. The market—not your emotions—dictates your home’s price. If comparables in the area, and several trusted real estate agents tell you your home is worth $400,000, you’re not fooling anyone by pricing it at $500,000—and you’re only doing yourself a disservice. Pricing it at market, even a little below, could generate a bidding war, and ultimately get you more money.
Don’t get personal. If you’re selling your house for a certain amount, and someone offers something much lower, don’t take this as a personal affront and refuse to counteroffer. Letting your emotions get in the way can potentially ruin the deal. What’s the harm in making a counteroffer?
Don’t procrastinate. In the current climate, you might be scared to try to sell your home, as you may have to face a lower selling price than you may have gotten before the recession. But remember, the house you buy might be even lower, commensurately. It’s all relative. So if you’re serious about selling, consider doing it now. Also, acting before the cold months come is a good idea, as the winter months are historically harder for home sales.
For Buyers:
DO’SGet a home inspection. It’s important to hire a trusted home inspector to check out the house’s potential issues and problems. Don’t skip a home inspection because you’re afraid of what you might hear—many issues sound more serious than they actually are, and can be fixed easily. And if something deal-breakingly serious is turned up, as disappointing as that is, it can save years of heartache and financial outlay. Better to walk away from a clunker.
List your place before you look for another. If you’re truly serious about looking for a home, list your place first. In the current economy, banks want to make sales as uncomplicated as possible—and contingency sales, which can be very complicated, are often rejected.
Talk before you act. Don’t ever start a home search without a firm budget not only in mind, but literally written down. Mutually agree with yourself—or with your partner, if you’re buying with someone else—long before you start seriously searching. Going out of that zone because of a place you just “gotta have,” or are emotional about, could put you in dire financial straits later. You don’t want to buy a house that isn’t affordable for you, and then be worried about paying for dinner and a movie on Saturday night.
DON’TSDon’t be a design snob. If someone’s enormous bathroom has wallpaper border containing frolicking kittens and pastel flowers, or a wall that’s a nuclear shade of green, we understand this can send you into style shock. But stand fast and ignore bad décor. Instead, try to envision the space raw. Besides, you can always redecorate once the home is yours.
Don’t make a silly offer. There’s nothing wrong with making an offer below asking price—it’s no secret that today, many homes are selling for under the asking price. But going 40% below the asking price may anger the seller. Some sellers, especially more emotional ones, won’t even bother counter offering an outrageously low offer. Feel free to make a deal—just don’t make an offer so low that you’ll be kicked off the table.
Wednesday, September 29, 2010
Housing Tax Incentives Benefit Younger Households Most
RISMEDIA, September 29, 2010—New research from the National Association of Home Builders (NAHB) reveals that the benefits of housing-related tax deductions, such as the mortgage interest deduction, generally decline in value as individuals age. Using Internal Revenue Service Statistics of Income (SOI) data, NAHB was able to report for the first time how various tax deductions are used by different age groups. The analysis demonstrates that the biggest beneficiaries are younger households, who typically have large mortgages, small amounts of equity in their homes and growing families. more...
Tuesday, September 28, 2010
How Large is the Shadow Inventory of Homes?
By Nick Timiraos
A new report estimates that the “shadow inventory” of potential foreclosures and other distressed sales will peak this year at 4.7 million units, a roughly 10 month supply of homes.
But that supply could shrink to as low as 4 million units or swell to as high as 5.6 million homes depending on how many delinquent loans actually move through to foreclosure, according to a report released Monday by John Burns Real Estate Consulting of Irvine, Calif.
The report also estimates that the distressed share of home sales will rise to around 40% of all home re-sales through 2012. And that the shadow inventory of distressed loans will stay at elevated levels through 2016. more...
A new report estimates that the “shadow inventory” of potential foreclosures and other distressed sales will peak this year at 4.7 million units, a roughly 10 month supply of homes.
But that supply could shrink to as low as 4 million units or swell to as high as 5.6 million homes depending on how many delinquent loans actually move through to foreclosure, according to a report released Monday by John Burns Real Estate Consulting of Irvine, Calif.
The report also estimates that the distressed share of home sales will rise to around 40% of all home re-sales through 2012. And that the shadow inventory of distressed loans will stay at elevated levels through 2016. more...
Friday, September 17, 2010
Your Listing Expired and You've got some Decisions to make
by, Tish Loyd, Wrightsville Beach, NC
Mr. & Mrs. Seller; Your listing expired and you've got some decisions to make.
1. Do you re-list with the same agent?
2. Do you lower the price?
3. Do you just hold off and see if the market improves?
4. Do you meet with any of the Agents who are calling and sending cards and letters telling you that they can sell your house?
Well, maybe, maybe, maybe and maybe.
1. If you have an Agent you like and whom you feel is doing everything in their power to sell your house, then stay with them. Of course, if they were doing everything they should, your listing should not have expired. Unless you both chose to let it.
2. If you had no offers, or low offers, then you most likely need to lower the price. Homes ARE SELLING -- if they are priced right and show well. You did make those changes your Agent suggested, right?
3. If you can wait, then this is not a bad option. This is a tough market, but it is improving. A month or so off the market could very well be just what your house needs to sell. Of course, interest rates are extraordinary right now -- I'd hate to see you miss out on a buyer that is taking advantage of the historically low interest rates.
4. If you were unhappy with the Agent you were previously listed with, then by all means, meet with other Agents. See what they can offer which is different than what you were getting. Sometimes a new marketing plan, along with a price adjustment is just what the doctor ordered. Beware of any Agent who tells you they have a buyer for your house, if you'll just list with them. If they really had a buyer, they would have already brought you an offer. Trust me, if I have a qualified buyer, I am getting them under contract -- not waiting to get a listing I can sell myself.
This is a tough market. Homes are taking longer to sell. But they ARE SELLING , many markets are improving and interest rates are as low as we're likely to see in our lifetimes. Your house CAN sell. Find a REALTOR® you trust, take their advice about pricing and staging, keep your house in showing shape and make it as accessible for showings as possible. That's what we in the Industry call, A WINNING COMBINATION!
Mr. & Mrs. Seller; Your listing expired and you've got some decisions to make.
1. Do you re-list with the same agent?
2. Do you lower the price?
3. Do you just hold off and see if the market improves?
4. Do you meet with any of the Agents who are calling and sending cards and letters telling you that they can sell your house?
Well, maybe, maybe, maybe and maybe.
1. If you have an Agent you like and whom you feel is doing everything in their power to sell your house, then stay with them. Of course, if they were doing everything they should, your listing should not have expired. Unless you both chose to let it.
2. If you had no offers, or low offers, then you most likely need to lower the price. Homes ARE SELLING -- if they are priced right and show well. You did make those changes your Agent suggested, right?
3. If you can wait, then this is not a bad option. This is a tough market, but it is improving. A month or so off the market could very well be just what your house needs to sell. Of course, interest rates are extraordinary right now -- I'd hate to see you miss out on a buyer that is taking advantage of the historically low interest rates.
4. If you were unhappy with the Agent you were previously listed with, then by all means, meet with other Agents. See what they can offer which is different than what you were getting. Sometimes a new marketing plan, along with a price adjustment is just what the doctor ordered. Beware of any Agent who tells you they have a buyer for your house, if you'll just list with them. If they really had a buyer, they would have already brought you an offer. Trust me, if I have a qualified buyer, I am getting them under contract -- not waiting to get a listing I can sell myself.
This is a tough market. Homes are taking longer to sell. But they ARE SELLING , many markets are improving and interest rates are as low as we're likely to see in our lifetimes. Your house CAN sell. Find a REALTOR® you trust, take their advice about pricing and staging, keep your house in showing shape and make it as accessible for showings as possible. That's what we in the Industry call, A WINNING COMBINATION!
Wednesday, July 28, 2010
Home Buyer Tax Credit Expires - Opportunity Doesn't
RISMEDIA, July 27, 2010—The Home Buyer Tax Credit proved to be a valuable stimulus to the troubled U.S. housing industry. The only catch: those who qualified had to be under contract by April 30, 2010, and close by June 30 (editor’s note: at press time, the federal government had extended this closing deadline to September). more...http://rismedia.com/2010-07-26/home-buyer-tax-credit-expires-opportunity-doesnt/
Monday, June 28, 2010
While Your Home Maybe Perfect for...
by Leesa Finley ,
While your home may be prefect for a large family, in a quiet, family neighborhood and right across the street from the Catholic church I just can't say that. Your home may be right in the middle of the financial district, near public transportation and have a free membership to the gym making it ideal for a working professional but I just can't say that. You see, there is the Federal Fair Housing Act that I must adhere to that strictly prohibits discriminatory preference against:
Race or Color
National Origin
Religion
Sex
Familial Status
Handicap/Disability
To advertise your home in a family friendly neighborhood would be discriminatory. Why? It would discourage those without children from looking at your home based on familial status. While your home may be right across the street from the largest Catholic church in town it would be discriminatory based on Religion.As a Realtor® it is my job to highlight your home and advertise it in the best possible light. If you hire me to be your Realtor® then you must be comfortable with me and trust that I know how to advertise your home without violating the Federal Fair Housing Act. If you DON'T hire me, or any Realtor® for that matter, to assist you in selling your home you must know that you are subject to the Federal Fair Housing Act as well. Yes, even as a private seller! The next time you see the ad that I run for your home please don't be upset with me for not mentioning that your home is family friendly or right next door to the Synagogue. Besides, your home has many more beneficial attributes for me to concentrate on!
While your home may be prefect for a large family, in a quiet, family neighborhood and right across the street from the Catholic church I just can't say that. Your home may be right in the middle of the financial district, near public transportation and have a free membership to the gym making it ideal for a working professional but I just can't say that. You see, there is the Federal Fair Housing Act that I must adhere to that strictly prohibits discriminatory preference against:
Race or Color
National Origin
Religion
Sex
Familial Status
Handicap/Disability
To advertise your home in a family friendly neighborhood would be discriminatory. Why? It would discourage those without children from looking at your home based on familial status. While your home may be right across the street from the largest Catholic church in town it would be discriminatory based on Religion.As a Realtor® it is my job to highlight your home and advertise it in the best possible light. If you hire me to be your Realtor® then you must be comfortable with me and trust that I know how to advertise your home without violating the Federal Fair Housing Act. If you DON'T hire me, or any Realtor® for that matter, to assist you in selling your home you must know that you are subject to the Federal Fair Housing Act as well. Yes, even as a private seller! The next time you see the ad that I run for your home please don't be upset with me for not mentioning that your home is family friendly or right next door to the Synagogue. Besides, your home has many more beneficial attributes for me to concentrate on!
Friday, June 18, 2010
Builders Put Brakes On New Homes as Tax Credit Expires
By Alan J. Heavens
RISMEDIA, June 18, 2010—(MCT)—Residential-construction starts fell in May 2010 to their lowest level in a year, as an anticipated slowdown in sales after the expiration of the home buyers' tax credits took hold of the market. The Commerce Department reported recently that overall housing starts fell 10% from April, while building permits were down 5.9%. The biggest hit in starts came in the single-family sector—down 17.2% from April. continued...http://rismedia.com/2010-06-17/builders-put-brakes-on-new-homes-as-tax-credit-expires/
RISMEDIA, June 18, 2010—(MCT)—Residential-construction starts fell in May 2010 to their lowest level in a year, as an anticipated slowdown in sales after the expiration of the home buyers' tax credits took hold of the market. The Commerce Department reported recently that overall housing starts fell 10% from April, while building permits were down 5.9%. The biggest hit in starts came in the single-family sector—down 17.2% from April. continued...http://rismedia.com/2010-06-17/builders-put-brakes-on-new-homes-as-tax-credit-expires/
Friday, May 21, 2010
5 To Dos Before Marketing Your Home
1. Flower up curb appeal. Do the lawn and bushes look neatly manicured? Could it use more? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks? Does it smell like blooms or manure as you approach the front door? Are the windows clean? Is the paint peeling? Is the grass healthy? Weeds are green, too, you know, so by healthy I not only mean green, but I also mean no weeds. Does your front door have a fresh coat of stain or paint? Curb appeal can be a chore or a fun family event. Either way, it has to happen before the sign goes in the yard! And, by the way, continue it 'til the closing. It's just the right thing to do.
2. Have a pre-sale home inspection. Be proactive. An inspector will give you a good indication of what will stand out to potential buyers. Plus, it is highly likely the buyer will hire one themselves and why not eliminate everything he would otherwise report? You'll be able to make repairs before buyers start charging you 10 times the price in the low offers they would bring unmaintained or before their inspector gets there and the repair requests start flying in like rockets. The best way to avoid insulting low offers or nagging repair requests is look like a million bucks to begin with -- get things done before-hand.3. Get replacement estimates. Do you have big-ticket items that are worn out or will need to be replaced soon, such your roof, old foggy windows or carpeting? Get estimates on how much it would cost to replace them, even if you don't plan to do it yourself. The figures will help buyers determine if they can afford the home and will be handy when negotiations begin. Don't play poker. They will see your foggy window and raise you ten.
4. Find warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.
5. Organize and clean. De-clutter! Items like kitchen tools, out-of-season clothes, toys, and exercise equipment need to GO. Store items off-site or in boxes neatly arranged in storage areas. Clean windows, floors, fixtures, walls and baseboards to make the interior shine.
Sellers, the beauty of a tough economy is a lot of homes are neglected, abandoned, abused or otherwise show like poo. This is your chance to shine! Plus, none of the recommendations above are bank busters.
by Kristen Ueckert
Ueckert Realty
2. Have a pre-sale home inspection. Be proactive. An inspector will give you a good indication of what will stand out to potential buyers. Plus, it is highly likely the buyer will hire one themselves and why not eliminate everything he would otherwise report? You'll be able to make repairs before buyers start charging you 10 times the price in the low offers they would bring unmaintained or before their inspector gets there and the repair requests start flying in like rockets. The best way to avoid insulting low offers or nagging repair requests is look like a million bucks to begin with -- get things done before-hand.3. Get replacement estimates. Do you have big-ticket items that are worn out or will need to be replaced soon, such your roof, old foggy windows or carpeting? Get estimates on how much it would cost to replace them, even if you don't plan to do it yourself. The figures will help buyers determine if they can afford the home and will be handy when negotiations begin. Don't play poker. They will see your foggy window and raise you ten.
4. Find warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.
5. Organize and clean. De-clutter! Items like kitchen tools, out-of-season clothes, toys, and exercise equipment need to GO. Store items off-site or in boxes neatly arranged in storage areas. Clean windows, floors, fixtures, walls and baseboards to make the interior shine.
Sellers, the beauty of a tough economy is a lot of homes are neglected, abandoned, abused or otherwise show like poo. This is your chance to shine! Plus, none of the recommendations above are bank busters.
by Kristen Ueckert
Ueckert Realty
Friday, May 7, 2010
Monday, March 15, 2010
5 Popular Kitchen and Bath Upgrades
RISMEDIA, March 15, 2010—(MCT)—Instead of playing the trade-up game, more homeowners are staying in their homes, upgrading kitchens and baths and building additions to accommodate their needs instead of moving into a bigger house, but there are also some early signs of an improving real estate market, according to a new survey of architecture firms.
Continued... http://rismedia.com/2010-03-14/5-popular-kitchen-and-bathroom-upgrades/
Continued... http://rismedia.com/2010-03-14/5-popular-kitchen-and-bathroom-upgrades/
Monday, February 22, 2010
A Golden Opportunity: 203k Program Helps First-Time Buyers Turn Dreams into Reality
By Stephanie Andre
RISMEDIA, February 22, 2010—As a first-time home buyer, Jessica Garcia was excited last April to officially begin her home search. She found a home within her price range, completed the lengthy paperwork and paid for the appraisals, only to later be told after four months that the deal would not close. For the good news....http://rismedia.com/2010-02-21/a-golden-opportunity-203k-program-helps-first-time-buyers-turn-dreams-into-reality/
RISMEDIA, February 22, 2010—As a first-time home buyer, Jessica Garcia was excited last April to officially begin her home search. She found a home within her price range, completed the lengthy paperwork and paid for the appraisals, only to later be told after four months that the deal would not close. For the good news....http://rismedia.com/2010-02-21/a-golden-opportunity-203k-program-helps-first-time-buyers-turn-dreams-into-reality/
Wednesday, January 27, 2010
Mature-Market Home Buyers Look beyond Buildings, Desire Services
RISMEDIA, January 27, 2010—A survey of consumers and builders, conducted in 2009 by the National Association of Home Builders (NAHB) and the MetLife Mature Market Institute, has yielded a new round of data revealing the housing preferences of the 55+ consumer. This analysis of data–the third in a series–compared the preferences of the 55-to-64 year old age group to those of the 65+ group.
The rest of the Story; http://rismedia.com/2010-01-26/mature-market-home-buyers-look-beyond-buildings-desire-services/
The rest of the Story; http://rismedia.com/2010-01-26/mature-market-home-buyers-look-beyond-buildings-desire-services/
Friday, January 22, 2010
10 Cities Where It's Smarter to Buy
Daily Real Estate News January 22, 2010
For people who want to own a home, the premium to buy—the spread between what they’d spend to rent and what they’d pay for a mortgage—is much lower than the 15-year average in many cities.To determine what cities are smart buys, Forbes magazine computed the premium and also identified locales where economists predict home prices will go up the most over the next five years.
Here are the top 10 Cities the Magazine chose as the best places to buy right now; http://www.realtor.org/RMODaily.nsf/pages/News2010012201?OpenDocument
For people who want to own a home, the premium to buy—the spread between what they’d spend to rent and what they’d pay for a mortgage—is much lower than the 15-year average in many cities.To determine what cities are smart buys, Forbes magazine computed the premium and also identified locales where economists predict home prices will go up the most over the next five years.
Here are the top 10 Cities the Magazine chose as the best places to buy right now; http://www.realtor.org/RMODaily.nsf/pages/News2010012201?OpenDocument
Thursday, January 7, 2010
The Expanded Home Buyer Tax Credit Could Chase Away the Winter Blues
By Ken Trepeta, Director, Real Estate Services
RISMEDIA, January 7, 2010
As we begin 2010, both real estate professionals and home buyers have something to look forward to and more importantly, take advantage of—the extended and expanded home buyer tax credit.
Originally created in 2008, the home-buyer tax credit has evolved from a $7,500 credit, which had to be repaid by the home buyer over the course of 15 years, to an $8,000 tax credit with no repayment required in 2009. Now, for a limited time in 2010, the $8,000 home buyer tax credit will still be available to first-time home buyers and certain current homeowners will also be eligible for a $6,500 credit.
To help everyone better understand the extended and expanded home buyer tax credit, here are some highlights of the changes.Read more: http://rismedia.com/2010-01-06/the-expanded-home-buyer-tax-credit-could-chase-away-the-winter-blues/#ixzz0bxuHPGWt
RISMEDIA, January 7, 2010
As we begin 2010, both real estate professionals and home buyers have something to look forward to and more importantly, take advantage of—the extended and expanded home buyer tax credit.
Originally created in 2008, the home-buyer tax credit has evolved from a $7,500 credit, which had to be repaid by the home buyer over the course of 15 years, to an $8,000 tax credit with no repayment required in 2009. Now, for a limited time in 2010, the $8,000 home buyer tax credit will still be available to first-time home buyers and certain current homeowners will also be eligible for a $6,500 credit.
To help everyone better understand the extended and expanded home buyer tax credit, here are some highlights of the changes.Read more: http://rismedia.com/2010-01-06/the-expanded-home-buyer-tax-credit-could-chase-away-the-winter-blues/#ixzz0bxuHPGWt
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