Realty Times - Homeownership's Amazing Benefits
This article is fabulous. It not only addresses the market is up from 4th quarter last year, it also addresses the benefits to homeownership over renting. This is worth the read.
With December coming to a close; we can look back and reflect on the roller coaster effect 2010 had on many of us. This year had it's ups and downs, but 2011 is beginning to look as though it'll be a more stable year; at least for us in the real estate market. I begin training this week to join a group of agents in educating Indiana residents of "employer assisted housing". The beautiful thing of "employer assisted housing" is this is a cost contained program. This program offers buyers the ability to gain 3% of purchase price at closing towards down payment with no repayment of this money. Sound too good to be true? There are a few stipulations. Your employer must fall under the network of employers; over 6,000 in Indiana. It's quite likely your employer is listed under this network and doesn't even know it! The 3% given to the purchaser is taxed by the government. This also helps stimulate the economy by increasing state tax dollars. The final contingency is for the purchaser to complete a short homeownership course online and 6 hours community service; all still a great deal for the buyer. This could be your first home, second, vacation or you could be an investor. It doesn't matter. All that is asked is for the above criteria to be covered. Want additional information? Contact Mallorie Wilson. Begin your 2011 by becoming a homeowner! Let me help you make homeownership a reality!
The recent expiration of the tax credit caused a halt in home sales. It appears buyers have been holding out, in hopes the government will install a new program, inducing buyers to purchase a home. Truth is, it's slim to none we will see this program again. We may see a replacement of some sort; my guess with a repayment plan, but by no means to the extreme we just witnessed. This is the most opportune time for a buyer to take advantage of the current market conditions. Historically low interest rates, coupled with rock bottom pricing, are what we would call the ideal buyers market. For those awaiting a new incentive plan, it's no telling when or if a new tax credit will be put in place.
I've recently teamed up with an agency handling relocation and housing benefits. This agency handles a network of employers that offer their employees 3% of the purchase price at closing. How do you establish if your employer is one of these 6000+ businesses? You may first consider speaking with your HR rep. It's possible they have no knowledge this benefit exists. Many employers received this benefit by joining their area chamber. Some may be thinking, 3% at closing, what's the catch? The catch is they want you to pay taxes on the money you've received. You could be a first time home buyer, a repeat purchaser or an investor purchasing his or her 10th home. You could be an intern or an executive within your company. The beauty of this program verse others is the lack of stipulations. No income barriers or limitations to first time or owner occupied homes only. For more information and to see if your employer is one of these 6,000+ businesses; contact email@example.com .
For those of you that were unable to take advantage of the tax credit, you are in luck. This past week, an extension was signed off on. This extends the credit until 6/30/2010! This is the PERFECT time to purchase a home. Low home prices, Low Mortgage Rates and now up to $8000 for making your first home purchase and/or haven't owned in 3 yrs!! Be sure to take advantage before it's too late!!
Have you been unable to sell your home? Don't understand why you've had several showings but no bites? In these circumstances, I recommend sellers to examine the following:
1. List Price- How does your home compare to like properties in your area? With today's competitive market, sellers need to list their homes appropriately with the competition. It happens quite frequently during showings, I will show 2 exact homes, however one being 10k more. It's common sense the lessor of the two will most likely sell first.
2. Curb Appeal- How does your home look from the street? The exterior is the first impression buyers have of a home. You want to maintain your yard at all times during the listing period. I highly recommend planting flowers and mulching. You'd be amazed at how many homes I've shown in which the buyer wanted to view a home based of the beautiful landscaping without previously seeing the interior of the home. Over 80% of buyers are searching for their homes online. Make your home stand out from the rest.
3. Staging - Staging has become a widely used service in the real estate industry. Ever walked into a model home and fell in love with it? Most do. Would you have felt the same way walking into the same home if it was vacant? Most likely no. Interior designers are great at what they do. They help the consumer feel a sense of "home" and "comfort". They want you to feel as if you could see yourself living in that home. Why not deliver that feeling to potential buyers upon entering your home. Staging companies come out and consult the seller on how to better their home for showings. They may do as little as re-arranging your current furniture or as much as filling an vacant home. Research shows that well staged homes sell approximately 32% faster and for 3%-10% more.
Are you contemplating becoming a first-time homeowner? Our current housing market could not be any more favorable towards buyers. Mortgage rates are at historic lows, housing prices are down, and the government is now offering an inducement for you to buy. You may receive up to an $8000.00 tax credit (10% of purchase price, up to $8000) for closing on your new home by November 30th, 2009. I recommend checking with your accountant to ensure you qualify. Don't be left out! Make homeownership a Reality.
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