There is no question the tax credit for new home buyers has contributed to the continuous rise in home sales. With the deadline approaching, many were rushing out to find the ideal home prior to the end of November. The good news is Congress has decided to extend the tax credit, while including many more this time around.
Since January first-time homebuyers have been able to get a whopping $8,000 tax credit thanks to the economic stimulus package that was put in tact. While the plan was originally scheduled to expire at the end of November, the Senate decided it was the right move to extend and expand on the tax credit.
While first-time homebuyers and those who have not owned a home in the last three years can still get up to $8,000, the expansion also includes people who have owned their current home for at least five years. If you fall into this category, you can take advantage of a $6,500 tax credit. In order to qualify, whether a new homebuyer or not, you will need to sign a purchase agreement by April 30, 2010 and close by June 30.
Many assumed the tax credit would be extended, but it was getting closer and closer to the deadline worrying some. With this extension, Sen. Johnny Isakson believes this will be the last one to come. If this is the case, it gives you until April to find your new dream home.
The tax credit for homebuyers is one of two tax breaks now that totals out to $21 billion as the Senate has included it in a bill that extends unemployment benefits. The other tax break allows companies that are losing money recoup taxes they paid on profits earned over the last five years.
Although it is terrific for homebuyers to hear about the extension, the economy is still struggling greatly. Sen. Max Baucus believes it is up to Congress to continue acting creatively in order to get the economy back on the right track. Over time these kinds of tax breaks will contribute to people fighting through the recession and finding steady jobs, said Baucus.
Outside of homebuyers, the real estate industry has really been pushing for an extension on the tax credit. While 1.4 million first-time homebuyers have taken advantage of the incredible deal, the National Association of Realtors has estimated that 350,000 would not have purchased a home without the credit. This goes to show you what a little help can do to get people to make big decisions.
In all, the extension and expansion is going to cost the government around $10.8 billion in lost taxes. Although there was some questioning behind the decision, in all it passed the Senate by an overwhelming 98-0 vote.
There are other details you will need to pay attention to as the credit is only available for the purchase of principal homes that are $800,000 or less. It is phased out for those who make $125,000 a year or more and joint filers cannot have incomes above $225,000. Anyone that is in the military serving outside the United States will be able to take advantage of the credit until June 30, 2011 for at least 90 days.
The tax break will help industries as well such as retailers, homebuilders and newspapers that may have suffered losses in 2008 and 2009. There is a smaller version of the tax break for companies who have revenues of $15 million or less that will be enacted in February. This will help provide companies a quick source of cash.
Beautiful Indian Springs CC pool & spa home. Large kitchen which opens into great room. Main floor master bedroom, separate dining room, inside laundry and fireplace complete this wonderful home. Large side yard with fruit trees and room for fun and games! Custom designed porcelain floors and window coverings are just a few of the upgrades. Association, pool, spa, fitness center and barbecue. SOLD FURNISHED as per sellers inventory.
As with every other area around the country, the Coachella Valley region saw a near-record number of sales over the past 27 months. While this is encouraging, it is discouraging considering the fact that many closed at incredibly low prices.
If you are a first-time buyer, there has never been a better time to buy. There has been an increase in first-time buyers by 47 percent compared to all home-buyers. And even if this is not your first time around the block, it is still a tremendous time to look into the real estate market.
It is believed that sales prices will continue to stay at the low mark they are at in 2010. While this is promising for home buyers, this means agents will have to close more deals then they did two to three years ago just to see the same business thresholds.
It is forecasted that sales will be sluggish in the mid- to upper-level home market. Coachella Valley and other parts of the country will face some troubling times as homes will see a significant decline in overall value and equity.
Homes that used to be around the $800,000 mark are now falling below the $500,000 mark. As you might expect, this is attracting many first-time buyers with the incredibly affordable home prices on remarkable homes. Not only is this appealing to first-time buyers, but it is also the perfect opportunity for people to move up into a larger home.
What some are taking advantage of is selling at a 5 percent hit and then buying a home for 10 to 15 percent off. People are wheeling and dealing any way they can to take advantage of the market.
One thing is for sure; the market is still healing as there are countless issues that remain relevant. Something that has become quite common today is cash buys due to the low prices. In addition, real estate agents are becoming familiar with multiple bids as many buyers will place a bid on several homes hoping to get one.
In 2006, 40 percent of all homes sold below the asking price. Today, that number is at a staggering average of 80 percent creating a long-run average of 69 percent. These kinds of numbers make it incredibly difficult to predict where the market will be in five years.
Anyone can throw a book of statistics out there and hope for the best. However, it is the plan of action and what really happens that is going to matter. Right now statistics show incredibly low prices on homes for sale resulting in a tremendous surge in home buyers.
Add onto the equation the tax credit that is good until at least November 30 and you have first-time buyers jumping at every home they can. It is even a promising market for people looking to move from one home into a larger home due to the fact that once high-priced homes are selling for average prices.
While all is good for home buyers, there really is no say where the real estate market will be down the road do to the inconsistent and constantly changing industry today.
Elaine Stewart has over 20 years of experience in the Real Estate market. If you are buying or selling a home in the Indian Wells, La Quinta, Rancho Mirage, Palm Desert and Palm Springs areas, or any other surrounding areas, Elaine is the one Palm Springs Real Estate agent who can provide you with the negotiating experience, knowledge and integrity to make sure your transaction goes smoothly.
Coachella Valley continues to show signs of improvement in the Palm Springs Real Estate market with another stellar month in July. Despite triple-digit temperatures and a credit market that was sure to scare home buyers away, home sales still rose by a tremendous 17.4 percent. This marked the second month of double-digit gains.
While things are looking up for home sales, the median price is unfortunately still looking down with a less than impressive $180,000 median. The last time it was this low was all the way back in 2001 and is much lower than the median price of $274,000 just a year ago. With the remarkably low prices, there is no question why home sales numbers continue to increase.
If you are looking in the market to buy, now is the time. As a first-time buyer with cash and strong credit, you have the potential to find a deal that is unlike anything seen since the 1980s. But the $100,000 to $200,000 range is not the only price market that is increasing in sales. The high-end market is showing signs of improvement little by little.
As with most areas around the country, sales were particularly heavy in areas with a large amount of foreclosure. Indian Wells Real Estate saw the most drastic signs of increase in sales with numbers rising 100 percent. In all there were sixteen sales for the month with the highest at $3.8 million.
In homes that have been purchased in Southern California above $417,000, purchase loans rose to its highest mark since August 2008 at15.1 percent compared to 15.6 percent in 2008. However, before 2007 nearly 40 percent of all Southland sales were financed by these high-priced loans.
One thing is for sure; realtors all over are anxious and excited for what is transpiring into a terrific season. Many believe real estate sales have hit the bottom and are only going to go up from here. Although prices will undoubtedly remain low for some time, it is only a matter of time before they begin to increase as well.
As for the high-end homes, realistic prices are what some believe is helping increase sales. While homes in the $800,000 range have been selling like crazy, homes around $1 million to $2.2 million are beginning to se offers as well.
Inventory on Palm Springs Bank Foreclosures is declining as well as Riverside County saw 58.7 percent of all homes that resold were foreclosure resales. Despite this, it is still lower than it has been since April 2008. While foreclosures were impacting the median price at one point, it is not having quite the same effect today thanks to the rise in high-end sales.
There is no question that the increase in sales is promising, but DataQuick President John Walsh fears it is too soon to call a bottom. With the amount of future job losses and foreclosures, he feels it is not appropriate to say the market has bottomed out just yet.
Another thing that is uncertain is how the high number of mortgage defaults from early in the year will be handled. There are too many options and variables that could affect the market in the long-run.
What you are seeing is that banks are not simply putting property back into the sales market right away. With the stabilized inventory that is taking place, there may be some increases in price. But for now, all we can do is sit and wait to see exactly what the market will do.
Thunderbird Heights is one of the most acclaimed residential communities in Rancho Mirage, California. Set on the hillsides of Coachella Valley, Thunderbird Heights is set at a close proximity to the Thunderbird Country Club. Residents in this development all have access to country club benefits, golfing, tennis, spas and more. The neighborhood was originally constructed as the first one in the area in the 1950s. Since then, there have been necessary renovations to bring the homes up to scale with the modern look and amenities of today.
The golf course Thunderbird Heights residents have access to through the country club membership is the oldest one built in the area, constructed in 1987. It has seen remodeling that has earned it the title of the place to be for those seeking the most elite environment. The homes in Thunderbird Heights vary greatly in square footage, layout, and lot size and therefore have a wide range of prices. For any home, new or older, the average prices run between $975,000 and $3.2 million. Most of the existing homes were originally build in the 1960s and 1970s but this should absolutely not be a drawback to the location. The fact that the structures have lasted and have required only aesthetic renovations says a lot about the integrity of the buildings.
Because this is privately established development with access to country club benefits, membership fees are required of all residents in the community. The reasonable monthly price of $125 delivers golf course access, tennis courts, fitness clubs and a chance to live in this prestigious community. If membership was not exclusive it could not offer all that it does. While it is true that newer establishments surround that of Thunderbird Heights, the charm from years past are seen in no other Rancho Mirage development. The history of famous past residents makes the community a rich goldmine of history to be unlocked. The perfect combination of classic charm and modern design and conveniences, the homes in Thunderbird Heights leave nothing to be desired.
If the Thunderbird Heights community interests you and you wish to set up a tour of the area, do not hesitate to call to get things started. The high desirability of this history-rich community means homes sell fast, so act quickly to find your dream home today! Whether you desire a seasonal home or something permanent in Rancho Mirage Real estate area, there are options for you. Enjoy luxury every day like you never have before with a home in Thunderbird Heights.
The community of Waterford is found in Rancho Mirage, California. This private development is set at Morningside and Frank Sinatra in Coachella Valley. Custom homes built in this area surround a five-acre lake, and this allows nearly half of the properties to overlook the large lake as lakefront properties. Every home also boasts fine mountain scenery and professional landscaping. Most resale values of homes in this area are currently between $1.5 and $2 million dollars. A few select estates sell for well over that, but these are not usually available for purchase. The Waterford homes were constructed between 2002 and 2003.
The 40-acre Waterford community is within walking distance of four private country clubs in the area. These are Morningside Country Club, The Springs Country Club, Thunderbird Country Club and Tamarisk Country Club. Members of this community have the option of obtaining members to any or all of these exclusive country clubs. The 61 homes, which are all single-family residences, range in size from about 4,700 to 5,500 square feet of luxurious living space. Customized design schemes of the homes are as elegant and majestic as the area they are situated in. Lot sizes in Waterford average about a half-acre, giving each homeowner plenty of outdoor space to call their own.
Since the community is gated and private, traffic and noise are not an issue. The safety in such communities is next to none and provides relief for members of the community, especially those with families. Although Waterford is private and secluded, it is still walking distance from many desirable locations like the exclusive country clubs in Rancho Mirage. The close proximity of the community to the mountains also allows for exciting outdoor living.
If you find yourself looking for a luxurious place to call home --whether seasonally or permanently-- the Waterford community could be for you. The lush landscaping in combination with the desert environment and lakeside properties make this Rancho Mirage development one of the best in the area. There are still some empty lots available for purchase which allows you to customize a home to the exact specifications you are looking for. The pristine location and safety of the community make Waterford properties sell quickly. Set a tour today to find out what homes are available for sale. Do not hesitate to move forward because these homes for sale will not last long. Find your place in paradise today with a home in Waterford
If you would like to see any of the Foreclosures in Cathedral City listed below please call us. The properties seen here are Cathedral City Foreclosures and are selling fast, please call us at the numbers below. Were committed to helping you find the home of your dreams.
With over 20 years of experience in the Real Estate market, Elaine truly enjoys helping people in the process of buying or selling a home.
Elaine Stewart - Remax Real Estate Consultants Mobile: (760) 668-2399 - Office: (760) 391-4415 Email: desertrealestate1@yahoo.com
If you would like to see any of the properties listed below in Mission Hills Legacy Oakhurst , please call us at the numbers below. Were committed to helping you find the home of your dreams.
With over 20 years of experience in the Real Estate market, Elaine truly enjoys helping people in the process of buying or selling a home.
Elaine Stewart - Remax Real Estate Consultants Mobile: (760) 668-2399 - Office: (760) 391-4415 Email: desertrealestate1@yahoo.com
The Mission Hills Collection offers the best that desert-living has to offer at a very reasonable price. There is a slight bit higher than 300 properties, each lot being about a quarter of an acre, set on 126 acres of land that surrounds the Dinah Shore Golf Course. Each and every home in this development has golf course access and a country-club feel that is very desirable by many. Rancho Capistrano Development built and designed the homes in this community. They are quite modestly priced for this kind of luxury living, with homes starting at $320,000. The homes in this collect were built between 1997 and 2004, with the area specifically called Mission Hills Legacy Oakhurst between 2002 and 2004. These homes run closer in price to $1 million.
There are three custom floor choices in the Mission Hills Legacy Oakhurst collection with a range of 2,700 square feet to about 3,500 square feet. Vintage and Classic Home Collections are available to pick from, and even though the Vintage Collection is a bit pricier, the additional square feet as well as matchless quality make it worth the cost. With any home in Mission Hills, you get the quality you pay for. At Mission Hills Legacy Oakhurst, 156 homes are located right on the Pete Dye Challenge Golf Course fairway. 11 more are lakefront properties situated on the Gary Player Golf Course fairway.
To be able to appreciate the country club amenities, there is a monthly Homeowner's Association fee that includes all the features you want, like a social fitness membership to the Mission Hills Country Club. Every residence has a detached guest house which is another fine convenience. Every home in the Mission Hills Collection is situated within the grounds of the Country Club, including the luxurious Mission Hills Legacy Oakhurst. The country club is undoubtedly one of the best in the world. With a great reputation for its stunning golf course fairways, gorgeous mountain scenery and desert climate, Mission Hills is an exquisite place for many to find refuge.
To find your dream home today, do not hesitate to look into the homes at Mission Hills Legacy Oakhurst, where luxury comes standard. The homes are priced very fairly and in fact the rest of the California real estate market cannot compete with the bang you can get for your buck in Coachella Valley. Arrange a tour of the community today to find out if this development is right for you.
If you would like to see homes at Mission Hills Legacy Oakhurst, please call us at the numbers below. We are committed to helping you find the home of your dreams.
With over 20 years of experience in the Real Estate market, Elaine loves to help people in the process of buying or selling a home.
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.
Outside of homebuyers, the real estate industry has really been pushing for an extension on the tax credit. While 1.4 million first-time homebuyers have taken advantage of the incredible deal, the National Association of Realtors has estimated that 350,000 would not have purchased a home without the credit. This goes to show you what a little help can do to get people to make big decisions.
One thing is for sure; the market is still healing as there are countless issues that remain relevant. Something that has become quite common today is cash buys due to the low prices. In addition, real estate agents are becoming familiar with multiple bids as many buyers will place a bid on several homes hoping to get one. 
Real Estate saw the most drastic signs of increase in sales with numbers rising 100 percent. In all there were sixteen sales for the month with the highest at $3.8 million.
pril 2008. While foreclosures were impacting the median price at one point, it is not having quite the same effect today thanks to the rise in high-end sales. 
Country Club. Residents in this development all have access to country club benefits, golfing, tennis, spas and more. The neighborhood was originally constructed as the first one in the area in the 1950s. Since then, there have been necessary renovations to bring the homes up to scale with the modern look and amenities of today.
layout, and lot size and therefore have a wide range of prices. For any home, new or older, the average prices run between $975,000 and $3.2 million. Most of the existing homes were originally build in the 1960s and 1970s but this should absolutely not be a drawback to the location. The fact that the structures have lasted and have required only aesthetic renovations says a lot about the integrity of the buildings.
access, tennis courts, fitness clubs and a chance to live in this prestigious community. If membership was not exclusive it could not offer all that it does. While it is true that newer establishments surround that of 
lake, and this allows nearly half of the properties to overlook the large lake as lakefront properties. Every home also boasts fine mountain scenery and professional landscaping. Most resale values of homes in this area are currently between $1.5 and $2 million dollars. A few select estates sell for well over that, but these are not usually available for purchase. The Waterford homes were constructed between 2002 and 2003.
The 40-acre Waterford community is within walking distance of four private country clubs in the area. These are Morningside Country Club, The Springs Country Club, Thunderbird Country Club and Tamarisk Country Club. Members of this community have the option of obtaining members to any or all of these exclusive country clubs. The 61 homes, which are all single-family residences, range in size from about 4,700 to 5,500 square feet of luxurious living space. Customized design schemes of the homes are as elegant and majestic as the area they are situated in. Lot sizes in Waterford average about a half-acre, giving each homeowner plenty of outdoor space to call their own.
communities is next to none and provides relief for members of the community, especially those with families. Although Waterford is private and secluded, it is still walking distance from many desirable locations like the exclusive country clubs in Rancho Mirage. The close proximity of the community to the mountains also allows for exciting outdoor living.
sonable price. There is a slight bit higher than 300 properties, each lot being about a quarter of an acre, set on 126 acres of land that surrounds the Dinah Shore Golf Course. Each and every home in this development has golf course access and a country-club feel that is very desirable by many. Rancho Capistrano Development built and designed the homes in this community. They are quite modestly priced for this kind of luxury living, with homes starting at $320,000. The homes in this collect were built between 1997 and 2004, with the area specifically called Mission Hills Legacy Oakhurst between 2002 and 2004. These homes run closer in price to $1 million.
There are three custom floor choices in the 
the features you want, like a social fitness membership to the Mission Hills Country Club. Every residence has a detached guest house which is another fine convenience. Every home in the Mission Hills Collection is situated within the grounds of the Country Club, including the luxurious 
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