Monday, November 30, 2009
Do you qualify for a short sale?
Great article that sums up what it takes to qualify for a short sale. Read More
Words of wisdom for the day - make it a great one!
"The best years of your life are the ones in which you decide your problems are your own. You do not blame them on your mother, the ecology, or the president. You realize that you control your own destiny." - Albert Ellis
Monday, November 23, 2009
Quote for the day - Enjoy!
"Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful." - Albert Schweitzer
Saturday, November 21, 2009
Quote for the day - make it a great day!
When one door closes another door opens; but we so often look so long and so regretfully upon the closed door, that we do not see the ones which open for us." - Alexander Graham Bell
Quote for the day - make it a great day!
"When one door closes another door opens; but we so often look so long and so regretfully upon the closed door, that we do not see the ones which open for us." - Alexander Graham Bell
Monday, November 16, 2009
Fed still helping to keep interest rates low - but only until March
Last week when the Federal Reserve stepped in with more buying of Mortgage Backed Securities (MBS), helping Bond prices recover from news of a weak Treasury Auction. Overall, home loan rates bounced around last week and ended the week very slightly improved. But that said, we can't "push our luck" and think the Fed will continue to step in and help support home loan rates...we have to remember that the Fed is actually winding down exactly this type of buying support.
Why is this important? Because home loan rates are based on MBS - so when the Fed agreed to be a big buyer, it helped provide a market and helped keep MBS prices high and home loan rates low. So as the Fed's program wraps up and eventually stops on March 30, 2010, home loan rates are quite likely to be on the rise.
Wednesday, November 11, 2009
States See Surging Sales, Moderating Prices
via realtor.org
Check it out! Price gains in San Diego-Carlsbad-San Marcos, at $215,100, up 13.3 percent; See article for more...
Tuesday, November 10, 2009
Monday, November 09, 2009
Tax Credit Extension & Credit for Homeowners who want to buy:
Here’s what it means:
· Now, qualified first-time home buyers would receive their $8000 tax credit if they sign a purchase contract by April 30, 2010 and close by June 30, 2010.
· The home purchased must be their primary residence
· Buyer cannot have owned a home during the past three years
· Tax credit is up to 10% of the home value (not to exceed $8,000)
· Annual income caps to qualify for the tax credit have increased ($125K for single filers / $225K for joint filers). Partial tax credit can be granted for incomes up to $145K for single filers / $245 for joint filers.
**Current Homeowners who want to buy** - New $6,500 Tax Credit for Current Home Owners Purchasing a Primary Residence
· Eligible home buyers must have lived in their current home for 5 consecutive years of the past 8 years.
· The new home does not have to cost more than the old home.
· Eligible for homes with purchase agreements signed between November 6, 2009 and April 30, 2010, and close by June 30, 2010
· Annual income caps to qualify for the full tax credit ($125K for single filers / $225K for joint filers). Partial tax credit can be granted for incomes up to $145K for single filers / $245 for joint filers.
Here’s what it means:
· Now, qualified first-time home buyers would receive their $8000 tax credit if they sign a purchase contract by April 30, 2010 and close by June 30, 2010.
· The home purchased must be their primary residence
· Buyer cannot have owned a home during the past three years
· Tax credit is up to 10% of the home value (not to exceed $8,000)
· Annual income caps to qualify for the tax credit have increased ($125K for single filers / $225K for joint filers). Partial tax credit can be granted for incomes up to $145K for single filers / $245 for joint filers.
**Current Homeowners who want to buy** - New $6,500 Tax Credit for Current Home Owners Purchasing a Primary Residence
· Eligible home buyers must have lived in their current home for 5 consecutive years of the past 8 years.
· The new home does not have to cost more than the old home.
· Eligible for homes with purchase agreements signed between November 6, 2009 and April 30, 2010, and close by June 30, 2010
· Annual income caps to qualify for the full tax credit ($125K for single filers / $225K for joint filers). Partial tax credit can be granted for incomes up to $145K for single filers / $245 for joint filers.
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