Archive for the ‘tax credits’ Category
Hope Springs for Housing in 2010
If you are serious about selling your home, then 2010 is the year for you.
- The decimated housing market is showing signs of stabilization in price and demand. Prices have actually risen for the past 6 months, through October, and overall demand has increased.
- Interest rates are at historical lows, but they have risen a half percent in the last month. Higher interest rates are a big motivator to buy now, as no one expects rates to stay this low going forward.
- The Fed extended the $8000 first-time buyer tax credit and expanded $6500 credit which includes non-first timers. This program certainly helps lure ready-buyers into the marketplace. To qualify all sales must close by June 2010.
- Homes are affordable. In markets like Phoenix, you can buy a home for $800 a month, which makes owning cheaper than renting.
While the news on real estate in 2010 is mixed, and no one is predicting a rebound in housing until 2013, the bear market is definitely in its last innings.
If you have a home to sell, there hasn’t been a better time in years. To succeed, contact Why6Percent.com to advertise your property on the MLS and real estate websites where 90 percent of the buyers are looking. It’s really that simple.
4 Good Signs for Real Estate in 2010
It’s beginning to look like 2010 is the year to buy a home.
- Cheap Prices: After a decade of steep home price appreciation, the recent crash pummeled home prices back to levels last seen in 2003.
- Low Interest Rates: 5 percent or less for a 30 year fixed rate loan mean rates are at historical lows, at least for now. Rates are expected to rise the next 4 quarters…so if you snooze, you may loose the chance to lock in at once in a lifetime rates.
- Foreclosures: Although losing a home is a life changing, tramatic experience…large numbers of foreclosures have created wonderful opportunities for buyers and investors.
- Uncle Sam: Uncle Sam is sweetening great deals on homes by handing out thousands of dollars to first time and existing homeowners who close on a home before June.
Thank you for visiting Why6Percent.com. If you have a home to sell, we can put your listing in front of millions of serious home buyers with the click of your mouse. Why Pay 6 Percent??? Visit the website for details and free marketing services.
Home Buyers Highly Motivated
According to a survey by Move.com, 12.1 percent of homebuyers intend to purchase an investment property this year, compared to only 5.6 percent of buyers polled in April.
The percentage of investors shopping for property also jumps higher when it comes to foreclosed property. 42 percent of foreclosure buyers are purchasing for an investment. 57.6 percent of foreclosure shoppers plan to live in the home they buy.
The survey also shows that 23.6 percent of investors and buyers believe that home prices are already as low as they will go. Nearly 20 percent feel a sense of urgency when searching for a bargain.
Another factor motivating home buyer’s off the sidelines is the real threat of rising interest rates. Wall Street guru’s, who agree on very little, warn that lending rates will rise in the near future. With real estate prices at their lowest levels, buyers risk much more in waiting to purchase, than they do by locking in record low rates on their loan.
Why6Percent Prediction: We believe the leading indicator of an interest rate hike will be falling unemployment claims. When unemployment claim filings fall below 500,000 per month, a rate hike is likely!
Realtors Prediction: Home sales will jump by over 13 percent in the next 6 months.
Thank you for visiting Why6Percent.com, your home selling resource center. If you are selling, buyer’s are buying. So, don’t miss the Boat. If they can’t find your property, they can’t buy it. Call us at 1-800-381-9496 today. Our MLS and Realtor.com marketing package reaches 10 million home buyers each and every month!!!
Breaking News for Home Sellers and Buyers!!
Great news for home buyers, sellers and owners, alike. The homebuyer tax credit has been expanded to include step up buyers, who have owned a home for 5 years. It also extends the tax credit through the end of 2010.
GREAT NEWS!
It appears that Senate Democrats have recognized the tremendous value of the First Time Homebuyers Tax Credit and odds are it will be renewed soon. At this time, it is believed that the credit will allow anyone purchasing a home, by April 30, 2010, to participate and receive the full credit available.
The credit will continue until the end of 2010, but the amount of tax credit will drop by 2 percent every 90 days. The graduated benefit should help the housing market recover into and through the 2010 summer selling season.
Here is the text of the story as reported in Bloomberg News today:
Senate Democrats on Board with Credit Extension
Senate Banking Committee Chairman Chris Dodd (D-Conn.) says Senate Democrats have agreed to extend the first-time home buyer tax credit. The latest version extends the program to home sales signed not closed by April 30. Purchasers would have another 60 days to close the sale. The credit will also be expanded to include so-called step-up buyers who have lived in their current home for at least five years.
The credit would be cut slightly to a $7,290 cap. Income eligibility for first-time home buyers would stay the same, but it would rise for step-up buyers to $125,000 for individuals and $250,000 for couples.
Latest Charts Show State of Housing
The two latest charts definitely indictate that a double bottom was reached in the residential real estate market in January 2009. Keep in mind that while the chart shows much improvement, corrections do not move directly upward. Expect some retracement and backfilling, while the chart continues its upward momentum. Note support forming at around 5,000,000 units. 
Another factor in predicting a retracement may be the Uncle Sam factor. Experts estimate that government efforts to modify loans, postpone foreclosures and provide $8000 in tax credits to buyers has artifically propped up prices 5 percent – 10 percent. If the experts are correct, prices will decline, once the government stimulus is gone.
The chart of existing inventory on the market is nearly a mirror image of the existing home sales chart. The current supply of 7.8 months of inventory means that it would take 7.8 months to sell all the homes on the market, if every qualified buyer purchased. Keep in mind that this chart reflects the averages. We are presently seeing less than 7.8 months of inventory for homes priced under 200,000 and up to a year of inventory for homes priced over $1,000,000.
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September Housing News. Is the Party Back?
TGIF and Happy Friday!! For a snapshot of the latest housing news, with veteran insight CLICK HERE!!!
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Toxic Drywall of China
Toxic, sulfur laden sheetrock, Made in China, is making people sick, causing electrical wiring to go crazy and is corroding copper, wire and stainless steel in American homes. The problem has affected thousands of homes in 20 states, yet, the US court system is powerless to hold Chinese manufacturers (most of which are owned by the Chinese government) responsible for problems caused by their products.
To learn how to spot a problem in your home, follow ongoing litigation, read about disclosure requirements and implications for homeowners insurance… CLICK HERE
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$8000 Tax Credit Expiring in 90 Days
ATTENTION HOME BUYERS!! The $8000 Tax Credit for Purchasing a Home Expires in Only 90 Days.
Banks are warning buyers that Strict Loan Underwriting and Loan Application Backlogs mean that standard loans are taking 90 days or more to close.
Please act quickly to put a home under contract and secure your financing, now. Time is running out. If you can’t close on or before the November 30, 2009, you lose $8000. Period.
Thank you for visiting Why 6 Percent.com. We can expose your property to millions of serious homebuyers and save you thousands of dollars in commisssions and fee’s. Contact us today. Time is ticking and buyer’s are waiting.
Cash for Old Refrigerators and Appliances
The government stimulus package includes $300 million in rebates for your old appliances. If you need to upgrade, now is the time. Click HERE to read about what qualifies, with tips, pro’s and con’s.
Thank you for visiting Why 6 Percent.com. We have helped home seller’s save thousand of dollars when they need to sell. And, we can help you, too. Visit the site or call 1-800-381-9496 for details!!
Refinancing Dries Up. Home Prices Drop, Again
U.S. home prices fall another 6.9 percent in April, from levels seen one year ago. The catalyst seems to be record foreclosures, rising rates and the highest level of unemployment in the past 26 years.
More troubling news…home buyers and people looking to refinance have retreated to the sidelines, as mortgage rates creep back up to nearly 6 percent for a 30 year fixed rate loan.
Although the Federal Reserve is working to keep rates low, concerns about rapidly growing government debt, inflation, and the likelihood of a further decline in real estate values continue to push rates higher.
Tax incentives and other efforts to stimulate housing sales have not been able to keep up with the number of people losing their homes. In May, filings surpassed 300,000 for the third straight month. Foreclosure filings are predicted to reach 1.8 million in the first half of 2009, alone.
To read about predictions for Real Estate Prices Going Forward, CLICK HERE.
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