The $8,000 government issued tax credit is set to go away on November 30, 2009. What does that mean to you? Well if you're serious about taking advantage of it and you're contemplating using an FHA loan to do it, that means you better get cracking. To be realistic, you'd have to thave an offer placed on a traditional transaction (meaning NO short sales, foreclosures or REO's as they take considerably longer) by approximately September 13, 2009. That's two weeks from today! Procrastinating any later than that could be a risky proposition, as you have Thanksgiving falling into that time frame, and you're bound to see a surge of activity right at the deadline as folks move their closings to squeeze in under the wire. Attorneys and title companies most likely will be booked well in advance of the 11/30 deadline.
If you are looking for a traditional transaction that can close quickly in Naperville and it's move in ready - Consider this -
1116 Emerald - West Highlands, Naperville - Value Priced at $299,000!!!
This home is ideally located close to town, shopping and parks in highly sought after West Highlands of North Naperville. Located in award winning, nationally recognized School Dist. 203. In addition to great curb appeal, this lovely split offers a beautifully updated kitchen, boasting maple cabinets, SS appliances Corian countertops and a built in lighted china cabinet. Handsome hardwood floor grace most of this home and new frieze carpeting warms the Family Room along with a lovely fireplace. A concrete patio provides additional area for outdoor entertaining in the mature, private backyard that affords peaceful relaxation. Don't miss the opportunity to call this home AND take advantage of the $8,000 tax credit.
As this weekend draws to a close, I'm beginning to get the feeling that there's change in the air. Do you feel it? More activity. Double and triple offers. Yes, some on foreclosures, some on short sales, but yes, some on traditional transactions too!
In Chicago's western suburbs we're slowly depleting the existing inventory. Stagnant inventory is being overlooked. New inventory is slow coming to market as sellers are reluctant unless it's an absolute necessity that they move. It's not surprising then that homes priced correctly are selling quickly in double and triple offers. The multiple offers are a result of buyers being in the marketplace SO long, that they certainly realize a good value when they see one and jump all over it.
There is anxiety in the air. With less than 5 months left for 1st time homeowners to take advantage of the $8,000 tax credit that our government is offering, that leaves a little less than four months to find a home and write a contract in order to close before the deadline. This in addition to relocation renters who are on the sidelines, trying to decide what to do and are prepared to jump in as soon as they feel the bottom has been reached has created the current climate.
If you're thinking of selling your home, but holding off, you may want to think again. This just could be one of the best times in a long while to put your home on the market. Just remember - Declutter, clean, stage & price and then clean some more!
Oh, and two words to those that are part of the stagnant inventory that is being overlooked. Evaluate your home and listen to feedback. Remove wallpaper! Clean up your landscape. Get rid of any odors! Any job that you've been putting off because it's too much work to do - a buyer will look at and think it's too much work multiplied by 5. If you're not willing to do the work, then think - price reduction.
Time is running out to take advantage of the 1st Time Home Buyers Tax Credit. There are only 178 days left in which to purchase and close on a home in order to be eligible. Your opportunity to take advantage of the credit expires on December 1, 2009.
In order to be eligible you or your spouse must not have owned a principal (the home you actually live in) residence in the past three years prior to the date you close on a new home. So, what exactly does that mean you ask? Well, if you own a home, but have not been living in it, but renting it out and living elsewhere, you're still eligible. Check with your tax accountant or attorney to verify all information.
You must live in this new home a minimum of three years or you will have to pay back the credit when you sell the home.
You must file an income tax return in order to receive the credit. However, you can fill out an amended tax return to this year's taxes, and receive your credit this year.
The credit is a maximum of $8,000 or 10% of your purchase price. In and around Will, DuPage & Kane counties, it's pretty much $8,000 as it is extremely difficult to purchase something around here for less than $80,000.
Lenders are partnering with non-profits to offer monetized credits. Basically the lenders are providing bridge loans through private parties enabling borrowers to access the funds for down payment. When they receive the credit from the government they in turn pay back the loan.
Hurry, this won't last long - there may never be another opportunity like this one. Only 3.5% downpayment is required for FHA financing. As interest rates are poised to rise, this could be the absolute best and last time that housing is this affordable.
Call me for more information and assistance navigating the real estate marketplace.
Back from Oz. We wonder why real estate is so expensive on the opposite side of the word? Well the view for one reason is absolutely spectacular from almost anywhere in Sydney. It's certainly hard not to fall in love. But you sure need to want to go there - 19 hours from Chicago. Brutal!
Sydney Harbor and Darling Harbor in Sydney, seperated by a penninsula called the "Rocks" are breathtaking. The Opera House was built using the sections of an orange as inspiration. The architect Jorn Utzon never actually saw the finished product due to being driven out of the country because of drastic cost over runs. Rather unfortunate, as it is a spectacular structure. In the foreground you see the Sydney Harbor Bridge, that many endeavor to climb on a regular basis, which takes approximately 3.5 hours to go from one side to the other (using tethers). Back behind the Opera house lies the GORGEOUS and lush botanical gardens, and across the harbor is the Zoo. Spectacular views from everywhere - tend to escalate the price of real estate.
For all the naysayers out there, take a listen to this utube video for all the details on the 1st time Home Buyers tax credit. Find out how you can benefit. YES, it IS FREE MONEY!
If you still have questions, please feel free to give me a call and I'd be happy to explain any unanswered questions in further detail.
There truly is NO BETTER TIME TO BUY A HOME than NOW! With the lowest interest rates in history!!! Don't get caught sitting on the fence. It's time to jump in.
2008 goes down in the record books as the "Wettest Year" in the Chicago area since records have been kept.
Flood waters made some roads impassable during the most recent storm and thaw. All the more reason to work with a Realtor that knows the area and can assist you when making one of the most important decisions of your life.
Here's a picture of one of the most beautiful trees displaying fall foilage, the glorious Ash Tree:) For that very reason I would like to urge everyone to be cognizant about the hazards of transporting firewood! The Emeral Ash Borer is easily transported in Ash logs. To prevent movement of these nasty green guys
PLEASE buy your firewood locally from a recognized vendor (not from someone going door to door selling off the back of a truck) Make sure to USE all the wood you have delivered so that no hidden adults or larvae survive through the spring. Burn baby burn and SAVE OUR TREES.
In Naperville there has already been one confirmed case of EAB in Southwest Naperville, in Ashwood Creek, Will County. If you suspect Emerald Ash Borer damage - call 630 420-6095
In these hard economic times some people suffer a little more than others. Below you'll find the market activity for the past three months for homes over 1M in Naperville School Dist 203. Yes, they are taking some time to move, there's no doubt about that, and some are much better bargains than others, but ultimately the economy doesn't seem to be affecting everyone.
All of the homes below that do not denote a subdivision, barring the home on Hobson Rd are in the vicinity of "town". I've also denoted the elementary and junior high schools. All homes below attend either Naperville North or Naperville Central, both offering outstanding educations! through the public school system.
Many of you out there are experiencing hard times. Some of you may or may not be aware that DuPage County has a wonderful program in effect that offers residents some relief from the high cost of prescription drugs in the form of a discount, and a substantial one at that.
The program is called DuPage Rx. It helps residents save money on their prescription medications any time their prescriptions are not covered by insurance. The free cards are distributed by the County and may be used at any participating retail pharmacy. It’s important to note that the discount card is not insurance.
All DuPage County residents, regardless of age, income or existing health coverage are eligible. There is no enrollment form, no membership fee and no restrictions or limits on frequency of use. Cardholders and their family members may use the card any time their prescriptions are not covered by insurance.
In these difficult times, when you may find yourself without insurance or your plan won’t cover a specific medication, you will at least receive a discount by using this card provided by the county. Participants of DuPage Rx will see an average savings of 20 percent on their prescription medicines, depending on the drug and quantity purchased. Cardholders are eligible for higher discounts on a three-month supply of some medications through mail service. Cardholders can also save on pet prescriptions at participating retail pharmacies.
DuPage Rx has no enrollment cost or membership fee. The cardholder pays the negotiated discount price or the pharmacy’s retail price, whichever is lower. The average savings is around 20 percent.
Where can I get a DuPage Rx card?
Aurora • Aurora Public Library – Eola Road Branch
Glen Ellyn • Glen Ellyn Public Library • Teen Parent Connection
Lisle • Lisle Library • Lisle Township • Village of Lisle
Naperville • City of Naperville • Community Career Center • Edward Hospital • Loaves & Fishes Community Pantry • Naperville Public Libraries (5) • Naperville Township • Xilin Asian Community Center
West Chicago • Access West Chicago Family Health Center • City of West Chicago • West Chicago Mental Health Center • West Chicago Public Library • Wayne Township • Winfield Township
Wheaton • City of Wheaton • DuPage Community Clinic • DuPage County Animal Control • DuPage County Community Services/Human Services • DuPage County Convalescent Center • DuPage County Family Center • DuPage County Health Department • DuPage County Housing Authority • DuPage P.A.D.S., Inc. • Health Department Transitional Services Center • Jack T. Knuepfer Building (multiple) • Marianjoy Rehabilitation Hospital and Clinics • Metropolitan Family Services • Milton Township • Peoples’ Resource Center • Sheriffs Department/Jail • Veteran’s Assistance Commission • West Public Health Center • Wheaton Youth Outreach • World Relief
Winfield • Village of Winfield • Winfield Public Library • Winfield Township
Woodridge • Village of Woodridge • Woodridge Community Pantry • Woodridge Public Library
I have provided this information as a service for the area I serve and is deemed correct, however DuPage County is a very larger area. For information on other towns or more information about the program please go to the DuPage County website
Hope this helps…Please remember to tell anyone you know who may benefit from this program.
One of my readers had this to add
There is another card available from a Wheaton-based company, Elations Health, that offers deeper discounts at more pharmacies throughout DuPage County. Their free card is available over the web at www.EasyDrugCard.com. Users can download a free personalized card instantly and use it immediately.
Like the County Card - everyone is eligible, there are no sign up or enrollment fees, no claim forms, and no limits. The card is accepted at all major pharmacy chains including Walgreens, CVS, Dominicks, Osco, Rite-Aid and more. The card is NOT insurance but offers deep discounts on brand and generic medication at retail pharmacies throughout the Chicagoland area.
The company's website (EasyDrugCard.com) offers a pharmacy locator & drug pricing tool so you can check the price before you shop. Pre-printed cards are also available to groups.
On October 25th & 26th, weather permitting, the City of Naperville will conduct routine maintenance at both the downtown Naperville Metra Station and the Route 59 Metra Station parking lots.
They are requesting that you park either in the Kroehler lot on 5th Ave or in the Parkview Lot on the south side of the tracks. Look for the posted signs.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
;)
;)
