FIRST-TIME HOME BUYER TAX CREDIT PROGRAM EXTENDED

President Obama signs bill , enacting into law an extension and adjustment of the $8,000 tax credit. Most details for first time homebuyers mirror the rules currently in existence.
▪ A purchase must be under contract by April 30, 2010
▪ A purchase under contract by April 30 must close no later than June 30, 2010
▪ Current homeowner who purchases a home may now claim a tax credit of up to $6,500.
*some limitations apply.

AVOIDING FORECLOSURE CHECKLIST

HOMEOWNERS OPTIONS
□ Bring your loan current and maintain regular
payments in a timely manner
□ Work out a repayment plan
□ Refinance your home with better rates terms
□ Modify your current loan with your lender
□ Rent your home & make the mortgage
payments to your lender
□ Sell your home & pay off the loan amount due
□ Borrow money from a relative or friend to
become current
□ Get protection under the Service Members
Civil Relief Act
□ Enter into a Deed In Lieu of Foreclosure or
“Friendly Foreclosure”
□ File for bankruptcy protection to stall the
forclosure process
□ Sell your home in a “Short Sale” where the
lender will accept a discounted payoff of the
outstanding mortgage due.
**Before you act on any of these options please consult your Realtor, CPA and/or Attorney

HOME STAGING SPECIALIST

Donna Hazlewood was recently awarded the Accredited Home-Staging (AHS) designation. She joins a select and growing group of real estate agents who has recognized the importance of providing this value-added service to their clients.

A effectively staged home sales faster and brings a higher sales price.

Seller Helpful Hint #103 for a Buyers Market

In a Buyers Market the best way to attract potential buyers besides your corrected market list price is your home curb appeal.

You may have a beautiful interior but to get buyers inside you must provide the buyers with a positive first impression. This will help weed out your competition. Keep your lawn manicured, weeds out of your flower beds, fresh mulch, driveway swept and an inviting front entrance. A fresh coat of paint and new hardware for the front door will make a big different.

When a potential buyer drives by the homes that they have on their list, they will want to see the home that has that appealing curb appeal first.

Pre-Approval Letter

Contact a lender before your viewing of homes for sale and get pre-approved. You need to determine your loan eligibilty and need to know how much you can invest in your purchase. This will help you and your Realtor with the search for the perfect home, in your price range.

When you find the perfect home, the Seller will take your offer much more seriously knowing you are already approved by a lender.

Helpful Hint #102 for Sellers

Leave the Selling to the Professional
Buyers Often feel uncomfortable in the presence of a homeowner, so:

* Try not to be present during inspections.
* If you are home, never apologize for the appearance of your home.
* Only your Certified Residential Specialist should discuss any objections and subjects like price, terms, possession and other factors with the buyers.

Mortgage Market~Adjustable-Rate Mortgages

ARMs (Adjustable Rate Mortgages): Most of the troubles in the current mortgage market are the result of adjustable-rate mortgages, which often feature very low introductory interest rates. Once the rate adjusts after 2 to 3 years, many homeowners can’t meet their monthly payments.

Nearly 2 million homeowners have ARMs that will adjust higher by the end of 2008. Of those, the Federal Housing administration estimates that 500,000 could go into foreclosure.—-Buyers, my advice to you is to understand the type of mortgage you are getting.

Helpful Hint #101 for Sellers

This weeks Hint will be on keeping the disturbances down: Potential homebuyers have a lot to take in, so minimize distractions.
1. Pipe in classical, jazz or soft rock music, but keep the volume low.
2. If possible, turn off the ringer on your phone during showings.
3. Keep cats, dogs, litter boxes and feeding dishes out of the way- preferably out of the home.

$5 INVESTMENTS THAT BOOST CURB APPEAL

Here are some suggestions that makes a listing more attractive to potential buyers:
*Place a big pot of yellow marigolds in the foyer – Yellow makes people feel comfortable.
*Give the trim around the front door a fresh coat of paint, covering up fingerprints and dings.
*Hang a small flag that says “Welcome”.
*Dribble a few drops of vanilla on the oven door and turn it to low. (It’s smell just like cookies baking).
*Fertilize the grass so it’s bright green.

TIPS TO LOWER YOUR ELECTRIC BILL

When I get my Electric bill I open the envelope slowly and peek inside to see what the amount is. Then I usually shake my head and stuff it back into the envelope and throw it in my bills pile.

Here are a few tips that can reduce your bill:
1. Add heavy insulation to roof and walls
2. Plant trees to shield the house from the sun or install dual pane glass windows
3. Caulk and weather-strip doors and windows
4. Seal air leaks
5. Replace your incandescent bulbs with the new compact fluorescent bulbs

In our home this year we replaced the old leaking A/C ducts and we did see a reduction in the amount of our KWH used.