Great stories like this just have to be shared. There's a very happy man from Happy waking up in a brand new home worth $185,000 that he won in a raffle drawing at the Big Texan Steak Ranch on Sunday night. Farmer and rancher, Dudley McNeill is the new owner of a beautiful 1,775 square foot home in the City of Amarillo, Texas. Mr. McNeill got the news over the phone since he was unable to attend the drawing, but never-the-less it was great news to him. The home was raffled off as part of a fundraiser for the international Myelin Project, which does research for cures of demyelinating diseases along with promoting education about them.
The home is a brand new 1,775 square foot, three-bedroom, two-bathroom dream for many who paid their $50 to get a chance to win. The raffle sold $150,000 worth of tickets, which is $10,000 less than the $185,000 appraisal value. The beautiful home sits at 3600 Springfield Ave. within the City View development near Hollywood Road in the City of Amarillo, Texas.
Although the fundraiser didn't make any money for its cause in the end, many are still optimistic and have future hopes. Over 100 hopeful people turned out at the Big Texan in high hopes of winning the home. And this was a very unusual raffle. Unlike most raffles in which the first name drawn wins, this raffle was complete opposite. The last name to be drawn was the big winner.
It's really great to hear stories like this about the communities in which I serve and to be able to share them with others.
The homebuyer tax credit has officially been extended. President Obama has approved the first-time homebuyer tax credit extension, which will last through April 30, 2010. And, there is a $6,500 credit to repeat buyers who have lived in their current home for at least five years and are looking to relocate.
The new extension is part of a $24 billion economic stimulus bill which will continue to give an $8,000 tax credit to homebuyers purchasing their first home and now $6,500 to repeat buyers who just want to relocate.
These tax credit expansion details apply:
Who is Eligible for the Tax Credit
* First-time homebuyers are eligible for up to an $8,000 tax credit. A first-time homebuyer is defined as a buyer who has not owned a principal residence for at least three years prior to the purchase of the property.
* Repeat buyers are eligible for up to a $6,500 tax credit. These homeowners are existing homeowners who have lived in their principal residence for at least five consecutive years.
Income Limits that Apply to the Tax Credit
There are income limits that apply to those who are eligible for the tax credit.
* Single or head of household single filing taxpayers can claim the full $8,000 credit for first-time buyers or $6,500 credit for repeat buyers as long as their gross income is less than $125,000 annually.
* For married couples who file a joint return, their combined income is limited to $225,000.
* Single or head of household taxpayers who earn between $125,000 and $225,000 are eligible for a partial credit.
* Any single taxpayer whose income exceeds $145,000 or any married couples whose income exceeds $245,000 is not eligible for the tax credit.
Tax Credit Effective Dates
Eligible homes must be purchased between November 6, 2009 and May 1, 2010. However, the sales contract must be signed before April 30, 2010 to qualify for the tax credit and the property must close on before July 1, 2010.
Properties that Qualify for the Tax Credit
* Single-family
* Townhomes
* Condominiums
* Vacation and rental properties do not qualify.
Payback Provisions of the Tax Credit
There's good news here. You never have to pay back the tax credit. It is a true credit and does not have to be repaid unless the homeowner sells the property within three years of the purchase. That's the only catch. Live in the home for three years and keep the tax credit forever.
Selling your home for the best possible price can be done in 5 easy steps. Once you enlist the help of a real estate agent and make a list of projects that need to be taken care of, you can maximize the value of your home.
1. Enlist a real estate professional - An experienced real estate agent that specializes in your area is the most competent person to determine how potential buyers will distinguish your home.
2. Assess your curb appeal - Curb appeal is one of the most critical points of interest when it comes to selling a home. You want each person who stops at the front of your house to be so charmed that they will want to see more. Therefore, access the three primary components of a home's curb appeal.
* Front Entrance - The front door, porch and all surrounding areas form the focal point of your home. New hardware and fresh paint on the door go a long way for attraction. A nice mailbox and functioning porch lights are very important, too. Dull entranceways can be easily dressed up by adding a few potted plants.
* Landscaping - Landscaping is another major part of curb appeal. This includes the lawn, area plants and structures such as walkways, retaining walls and steps. Trees and shrubs should be trimmed well and garden beds should be defined by freshly added mulch. You may even want to consider pressure washing all concrete around the home to make it look newer.
* Exterior - Check to make sure your paint is in good shape and your siding is clean. Also make sure your windows are clean and clear of spider webs and the gutters are clean.
3. Update the interior - Consider updating the kitchen and bathrooms. Just make sure the renovation will pay for itself. New paint, countertops and flooring are usually sufficient to bring these rooms up to speed without breaking the bank.
4. Prioritize your list of home improvement projects - Now that you know what needs to be done to prepare your home for sale, decide which projects you can do yourself and which projects you will need to hire a professional for.
5. Remember to use patience - Once you start your list of repairs, you must complete the list before putting your home on the market. Your house will be much more desirable to potential buyers and get you the higher price you want.
These five easy steps should help you get your home ready to sell for the price you really want.
Just over three years ago, one of the schools in the Amarillo, Texas area was becoming extremely over crowded and, to keep up their good education image in the community, the Panhandle Independent School District decided to build a new school to help relieve the population of the other and to do renovations on the other school to update it. Now, over 650 students in the Panhandle ISD are using the much needed new school facilities a year ahead of time.
Students will no longer have to walk from their classrooms to the gym or library in the cold because of the new enclosed walkway. And, they won't have to rush through lunch anymore because there are now two cafeterias to accommodate all the students.
All 110+ band students will no longer have to rub shoulders in the band hall. They now have plenty of standing and storage room for themselves and all their instruments.
The new facilities are huge, with a whole lot more room.
Scheduling for the school was due to be finished next year, but has finished ahead of schedule, after just 18 months of development. Only a couple things remain to be completed, including a new high school gym and landscaping, which should be complete within the next month.
The new additions were approved by voters and paid for with $27.5 million in bonds. The bonds also provided modern science labs, larger libraries, computers with high-tech screens, a connection bridge between the junior high and high school and a new 60,000-square-foot elementary school.
The new facilities are already a huge hit with students, parents, teachers and those looking to buy property in Amarillo, Texas. It looks, like in times of need, the community of Amarillo really pulls together and comes through for its students.
Over the years. more and more homebuyers have been turning to the internet to search for their next home. And studies are showing that those who search the Internet tend to be more satisfied than the traditional buyer.
In a study done by the California Association of Realtors®, it found that 92% of homebuyers are now going online to find their homes and real estate professionals. Of those surveyed, homebuyers looked for homes first and real estate professionals second. Traditional buyers contact an agent on average of 1.7 weeks, while an Internet buyer contacts an agent on average of 4.8 weeks of doing research.
The lengthier research allows the Internet buyer to better prepare themselves. They also have a clearer picture of what they want in a home. Internet buyers looked at less homes than the traditional buyer. On average, the Internet buyer viewed 6.7 homes, while the traditional buyer viewed 15.4 homes. And on average, Internet buyers bought a home after just 2.2 weeks of searching, while the traditional buyer bought after searching for an average of 7.1 weeks.
When Internet buyers were asked for a number one reason for their satisfaction, 91% said they were satisfied with the quick response of their agent. 62% of traditional buyers said they were satisfied with how hard the agent worked on their behalf.
In short, the survey showed the Internet's importance to today's real estate industry.Buying a home online has become not only a wave of the future, but the present. If you want to be satisfied with your home buying experience, go online first.
Many homeowners who have decided to sell their home want top price for it. Many have found momentum in the remodeling market to help them get the price they want. And lately, remodelers are seeing a big pickup in their business because of it.
Homeowners who want to sell their homes for top price can get more from it when they invest in remodeling projects. This can also be a big step for many homeowners. However, it can be an easier job when you have the right remodeling company with a solid reputation to do it.
Choosing the perfect remodeler for your remodeling project can often be a wearisome process. Therefore, be sure to explore all your options and do your research or it can result in frustration and too much money spent.
When choosing the right remodeling company, you want to make sure that you ask the right questions, such as: do they offer full-service design and remodeling under one roof, references, certifications the remodeler holds, etc.
A full-service remodeling company should offer homeowners one-stop shopping for all their remodeling needs on several budget levels. There are remodeling companies out there that are not full-service, meaning from design to construction, but a full-service remodeling company will keep your project running more smoothly.
Take your time while interviewing remodelers, making sure all your questions are met, and ask about certifications that the remodeler holds. Also keep in mind that the most popular remodeling trends will help you have the greatest appeal for sale-ability. Some of those popular remodeling trends include outdoor living space and energy-efficient remodels. Whatever you choose, good luck with it.
October is national Energy Awareness Month. So, to honor the celebration, I have some energy saving tips to use around the house. According to the U.S. Department of Energy, the average home loses around 25% of its heat through windows and small space around doors.
These energy saving tips will show you how easy it is to reduce your home's energy and lower your utility bills. These tips can be used as a handy guide for saving energy and money throughout each year. Just by implementing a few of these tips, you will make your home comfortable and more energy-efficient.
Heating Tips - To maximize the heat in your home, start by purchasing an energy efficient heating system by looking for any model labeled "Energy Star". These are the most efficient models. Keep your doors closed at all times and seal any air leaks around doors and windows. Use sunlight to your advantage by opening your shades during the day and closing them when the sun goes down.
Don't let the heat escape the chimney. Make sure your fireplace flue is closed when not in use. Ceiling fans on low speed can also help circulate warm air around your home more evenly. Don't forget to give your heating system a tune-up. And, be sure to insulate your attic properly.
Cooling Tips - Buying Energy Star air conditioners will save lots of energy. Get rid of hot air by using an exhaust fan to blow hot air from your kitchen while cooking. On cool days, opening windows and doors can help to save energy and ventilate the home. Blocking the sun with curtains or shades will help keep the home cooler and drastically cut cooling bills. Using ceiling fans or portable fans can make you feel just as comfortable as if you had the air conditioner on and will save you 10% on your cooling bill. Sealing off vents in unoccupied rooms can save you up to 10% on your cooling costs. And, on really hot days, don't fan the doors.
Lighting Tips - Buying fixtures and bulbs that bear the Energy Star label are the most effective way to save energy, money and help the planet. You can also save energy and money by turning off lights when not in a room, keeping bulbs and fixtures clean and investing in a timer. Also, invest in the long-life incandescent bulbs. They may cost more, but they last three times longer than the standard light bulb.
With the money you save from these energy saving tips, you can put it towards anything you want. Add an upgrade to your home, go on vacation or some small luxury item. You get the picture.
Housing affordability hovers near highest level in 18 years. It's definitely a combination of low interest rates and low home prices that have made this possible and this is great news for home buyers.
The demand for affordable homes is in the air. Helping to stimulate that demand are young first-time buyers and the $8,000 federal tax credit. However, the federal tax credit will be ending soon; November 30, 2009 is the deadline. But there are hopes that Congress will extend the tax credit for another year and even make it available to all buyers. This would encourage activity in the trade-up market.
Some states saw more home sales than others because of the affordability. Forbes magazine recently listed Indianapolis as the most affordable place in the nation to live. Closely behind were Missouri, Texas, Pennsylvania and Ohio. Forbes magazine compiled their list of most affordable places to live in the nation based on measures of housing affordability, unemployment and cost of living in the 40 most populated areas of the country.
Housing markets that dominate the rankings have key contributing factors. Take Texas for instance: one of the key dominating factors for contributing to its affordability is major opportunity for metro area expansion. Everything in Texas is bigger, after all, and it just seems to be getting even bigger. Texas also has some of the fastest-growing metro areas in the country, even in today's economy. Some areas of Texas have seen growth of 3.8% (1.7 million) or more.
If you're a first-time homebuyer and haven't made the move yet to buy a home, don't let these affordable home prices pass you by. They will begin to rise again just as they did before, so there's no better time to buy than now.
When I think of great Texas communities, there are a couple that come to mind, such as Amarillo and Canyon, which are both located in Randall County, Texas. Randall County has so much to offer its residents as it's situated on the very famous Texas Panhandle in south-central Texas. And the county itself is made up of around 933 square miles of beautiful land.
All communities within Randall County can easily be accessed by Interstates 27 & 40 and several main highways. As a matter of fact, there are 750 miles of roads within the county.
As for schools of higher education, West Texas A&M University is also located within Randall County. It is considered one of the most prestigious universities in the country.
When it comes to recreation and activities, Randall County has a lot to offer its residents. Several parks can be found scattered throughout the county providing playgrounds, pavilions, picnic areas, ball parks, ball courts, walking trails, golf courses, theaters, museums, shopping areas and plenty of restaurants to choose from.
Every city within Randall County, in my opinion, is a wonderful community to live. But you will have to come see for yourself just how great it really is.
When asked, many Americans will say they consider closing costs and having enough money for a downpayment to be the biggest obstacles for homeowners. That is according to an annual survey released by the National Association of Realtors® known as the 2009 National Housing Pulse Survey that can be found on www.realtor.org.
The survey measured how affordable housing issues affected consumers. They also found big concerns in job security. It was the highest in seven years to be exact. Now, two-thirds of Americans think unemployment and job layoffs are a huge problem. Eight in 10 consumers say these are a barrier to homeownership.
Many people were hoping that the $8,000 first-time buyer tax credit to help with downpayment or closing costs would be enough to help. However, now these new fears over job instability are increasing daily. But, despite these new challenges in the housing market, most Americans still believe buying a home is a good financial decision. 83% of those surveyed believe now is a good time to buy a home. That number has steadily increased over the past two years. Even more renters are now considering buying a home.
Although we are seeing slightly more stability in the market, there is still a strong uncertainty. Almost eight in ten homeowners say it's harder to sell their home than it was a year ago. And, this is despite the fact that nearly three-fourths of those surveyed say homes are less expensive. We could blame this on large inventories in some areas.
While many Americans are concerned about the drop in home values, many more are concerned about the rates of foreclosures. However, many areas of the country are finally beginning to see foreclosures stabilizing.
In the financing department, seven in 10 Americans say they are afraid they will not be approved for a home loan. Many believe that because of the major banks problems, they will have a harder time qualifying.
So, after careful review of the biggest obstacles for homeowners it looks like they boil down to downpayments, closing costs, job security, home sales, home values, foreclosures and financing.
Okay consumers. Each one of these obstacles can be overcome with ease. Just talk to a real estate or mortgage professional today about how you can overcome each one.
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.
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