With the FIRST-TIME HOMEBUYER CREDIT OF UP TO $8,000 and interest rates at some of the lowest rates in ra history of 20years, I am amazed why we as Realtors aren't promoting this great gift to all potential buyers? But is it that we are not promoting it or---are buyers not listening---or too panic stricken to even consider taking a chance? After all, isn't life itself a chance?
I have read very recently that there has never been a better time to buy homes since Dwight D. Eisenhower was President.
with permission from the author of the "New $8,000 -First-Time Homebuyer Tax Credit Report, Julie Garton-Good for all to review. If buyers want to take advantage of this credit, they will need to act quickly as it ends December 1st and it can take 45 to 60 days to close on a property in this real estate environment. It's the Perfect Storm. This article is very clearly written and answers your most basic questions on this tax credit. As always if you have additional questions, your CPA is your best source of how this will apply to your situation.
It's PERFECT STORM; A Storm because with the decline of property values. seller foreclosures, short sales and bank owned properties. PERFECT because it a heavenly opportunity for first time buyers who can afford a home that was not within their means a mere two or so years ago; that coupled with some of the lowest interest rates in twenty years, puts first time buyers in a real position to purchase, to own their first home before the economy we are now experiencing recovers and they miss the opportunity.
Some of the reasons I heard are "well what if we loose our jobs?" Then what do we do?
My response was and is, and if you loose your job, won't the rent still be due? Now I am not advocating that if you know your company is going to lay you off that you act irresponsibly. In home ownership you have avenues to help you through the tough times better than in a rent. As the home owner you don't need permission from the landlord to rent out a room for additional help with the new rent payment known as the mortgage which could be the price of the former rent. It's yours and you do as you please other than you of course are not allowed to destroy the property. all I am suggesting is see a lender and act responsibly. Do your homework and see if this works for you. If it does, TIME IS OF THE ESSENCE AND DECEMBER 1ST IS THE DEADLINE, SO PLAY SAFE, CLOSE BEFORE DECEMBER 1ST!
So let me strongly urge all renters and potential buyers to check out this gift. Go to my website and read the article for clarification---then call a lender and get pre-approved or--call me I can help. and out of my territory, not a problem I have a network of Qualified Buyers Agents (ABR) that I can refer you to.
With interest rates hovering in the +/- 5% range, along with declining property values, that brings about one good point. It's another opportunity. Is this beneficial to buyers only? Absolutely not!
Well now think about this, if you are looking to downsize, relocate, or upgrade, sellers become buyers and they too can take advantage of declining property values and the low interest rates.
So why put your life on "HOLD" for another moment waiting for the market to come back? It's as good a time as any for those of you who aren't in an under water situation, to sell and buy your next home. "Time waits for no man".
This last year made me realize that life is not forever and there is no time to waste, not even waiting for a better opportunity to sell, when you will only have to pay far more for your next property and a higher interest rate when that better market arrives. So what's their to gain by waiting?
Weigh out the pros and the cons and then decide what works with your given situation. Life is a chance, there are no promises, none! You have to decide; do you want to live life or wait it out watching time go by? As always, it's your call! But at least, think about it.
I can't remember any home that I have ever seen from the most humble of homes to the most luxurious that isn't more appealing, and wouldn't be more desirable to own than one seen during the Holiday Season when all the fancies are on display and the Christmas Tree is decorated with lights illuminating that whole part of the room, or when the front door is more inviting with it's beautiful Christmas wreath hanging, than one listed and shown at any other time of the year.
Even the snow could add and element of joy, excitement especially if there are children and there is room for them to play out in the snow. So don't let that keep you from listing your home during the month of December, January or February.
Get those pictures taken, then change them as necessary giving the property a fresh look during the time it is listed. That's a very important component of the listing. You want to sell it, then give it a new face as seasons change whenever possible.
First is Christmas, festive and beautiful with the sound of Christmas Carols, that all lend themselves to the feeling of happiness.
Then comes New Year. In my home the Creche (or manger) is prominently displayed under the tree where it will remain until the Feast of the Magi in January. To me, that's the true Spirit of Christmas. Though that may not be for everyone, depending on the area, however.
February is Valentine, roses in a vase, real or beautifully artificial along with an ornament hanging at the front door again make the home inviting to visit and exudes a feeling of warmth perhaps helping buyers make their decision.
And March is looking like spring is just around the corner, so again, tulips and seasonal flowers inside and in some areas outside make this home look like it is lovingly maintained.
Although not every idea is for everyone, take advantage of those that could work for you. You can now call your Realtor to list your property.
I remember just before Christmas one year I took a cruise that started in Porto Rico where I saw no Christmas Trees, but pots of poinsettias displayed on tree shaped frame with shelves that held the pots that were covered in red foil. Luckily I was going to be home in time to enjoy the tree I started putting up before I left for my trip.
I moved twice in two and half years and once in March and the next time in October and both times, I encountered rain and mud so the importance is not what the weather will be like when you move, but how well it can show before it is about to acquire new owners.
Any time is a good time to move into a new home as it is the beginning of a new life.
Good Luck with your listing and Happy Holidays to All!
Fran MacDonald, Associate Broker. ABR, CRS, SRES, Realtor
This is the state where I live, where I work, where I enjoy many friendships. For those who have thought of visiting or relocating to our state, here is another reason for you to consider it.
In the process of reading my email, I received a newsletter and upon reading it, I discovered a beautiful blog with breathtaking pictures of one of my very favorite areas, Franconia Notch. I contacted the author Barbara Weigel and obtained her permission to share these with my ACTIVE RAIN NETWORK.
Thank you Barbara for allowing me to share these wonderful pictures and you explanation on the process that occured over millions of years to form our beautiful Franconia Notch in the northern part of NH.
Fran MacDonald, Associate Broker, ABR, CRS, SRES, Realtor
Given the real estate market conditions with bank owned properties, this is a great time for first time home owners "just out the gate" to perhaps, own their own home. Sure these rough gems have been sitting on the market ofr months and that isn't what maintains a property in good condition. But here is an opportunity for you because you can purchase a property for a fraction of what they were worth in yesterday's market. They are rough, yes most of them are but let's explore that scenario for a minute:
They need TLC, and that a given
Banks are often very slow in responding and often unrealistic about asking price. Remember the bank is not within eye-shot of the property so they aren't always quick to accept a low offer with such a high volume of first time buyers on the market, but don't give up. With the help of a Buyers Agent (ABR), a Realtor that is trained and experienced in negotiating offers and advising clients, coupled with patience and trust in the Realtor you have chosen, things can start to happen.
Bear in mind that the Buyers Agent Council recently stated that 40% of all Realtors are new to the business and 40% of all buyers are first time home buyers. That means you need someone strong and experienced, who understands your needs in your corner working for you.
It is speculated that Banks are going to start working with home owners that are in jeopardy of will negotiate a better rate of to help these owners with mortgages they can handle. If that happens that will be great for the economy of our country. Then fewer foreclosures mean fewer properties for you, as a buyer to select from. Now having this information, if you are a motivated buyer and have the ability to make repairs to a property, my thoughts are, why not act now? Begin your search for a Buyers Agent, someone you can work with and trust, and get pre-qualified to start your search while interest rates are still affordable. There may be no better time to ACT than now!
Begin your search, searching doesn't obligate you to purchase, but it will enlighten you in what is available and the condition of these homes, you can make a decision from there, yes I am interested---or---no--- thanks, I will pass!
Fran MacDonald, Associate Broker, ABR, CRS, SRES, Reator
Working with first time buyers who are looking for the foreclosure deals is no PANACEA but rather a heart wrenching, frustrating, experience that can be downright madening at times. Thought I don't profess to be an appraiser by any means, there are properties where the "highest and best use" of that property, in my opinion, would be to level it right down to the foundation and build new.
Not all properties fall in these categories but a significant number of them do. Foreclosure properties are often no deal. And working with the some banks can present a nightmare to all involved. They haven't seen the property but yet they are looking for unrealistic prices when often these properties have mold and other problems that occur when a property is left vacant for a large amount of time. I have seen bats in the shower stall, the tail of some animal under the floor left open, insects, and other small dead animals in a few of the properties.
Some of these properties are in need of immense repair, and even at that, will never bring back the money that tearing this building down and replacing the structure, would bring as a future return to any buyer not to exclude property taxes for the City. In the city that I work in, there is a new law that was recently enacted. This information I come by from a listing agent that works primarily with foreclosure properties. It states that;
"once a property is bank owned, the existing Certificate of Compliance known as the COC becomes void whether residential or muti family then the city will has to inspect the property confirming that it is in compliance with their requirements before it can be occupied again."
This is a move in the right direction as I see it!
This could present a great opportunity in those instances for cities and towns purchase these properties and start cleansing the areas. On one property, as I left to get a flashlight, when the storm door let go, hit me on the arm and broke my skin forming a one inch break in a V formation. I ran to my car and quickly put an anitbiotic creme and a large band aid that I carry as an emergency. The buyer I was working with tells me that he has written a lengthy letter to the NH Real Estate Commission on the subject. Later I came home and cleansed the area with peroxide and again nursed the wound. I had a tetanus shot a year ago. I notified the listing agent who never followed up with me on this. Now looking back and for health reasons, I was foolish not to go to the emergency room for treatment. Somebdy should be responsible to assure that the property is safe to enter and exit. Another property had nails coming from the underside of the floor, perhaps a hundreds or more of them that could have pierced the sole of my shoe and/or also injur my buyers who were accompanying me at these showings. On that property I did notify the managing broker of that listing office.
So is the foreclosure market a panacea for first time home owners? You decide and let me hear your comments. Together we can make a difference.
Fran MacDonald, Associate Broker, ABR, CRS, SRES, Realtor
Watching the video from Jeff Turner I learned to work with a new Piece of software to re-size pictures known as PICNIK and I am now working to master FLICKR, not that I have quite mastered PICNIC but two days ago, I knew nothing about these free sites that could offer me so much.
Awesome, I am motivated and I am going to do some neat stuff. Just watch me GROW!!
What a good guy!!! He takes the time to teach us Active Rain that are interested in learning more! WOW!!! Gotta to love this guy!!!
Jeff got any other neat tricks to teach me? How about an outside Blog?
This delightful 4 bedroom condo is located in the prestigious No Manchester area, near all major highwaysand can be viewed at www.11Derryfield.com 2 1/2 baths, C/A. I wll honor all referals!!! call me at 603-644-0151 or cell 603-785-2374. Quick close!!!
To Brad and and all of you ACTIVE RAIN members who knew and loved her. My heart and prayers go out to you.
I share your grief. I share your loss. I also share your heart. I too lost my sister Pauline to breast cancer metastases on April 22, 2008, my sister Louise is also plagued with the same illness and currently on chemo therapy. There is however no know cure as I write. She has been gallantly fighting this for nearly two years now and we need a miracle to save her life.
My mother is a breast cancer survivor and has been for over 30 years and her mother before her again for 30 years with no recurrence, but amazingly, my sisters weren't that lucky at least as we know today. I will do the March for Cancer on October 19th. We must eradicate Cancer from this planet.
Keep Louise and in your prayers and Karen in your heart. Remember for all that she has contributed to help your business and to your life.
If anyone would like to help to (I need to raise my share as well) send me a check made out to the American Cancer Society to:
Fran MacDonald, Partners Realty Group 66 Prospect Street Manchester, NH, 03104.
We march to raise money and we create Cancer Awareness so that others may live. Karen is in a better place now. She will now be helping those of you who have loved her from a far more powerful place.
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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