Frequently Asked Questions About The First Time Home Buyer Tax Credit - 02/26/09 12:48 PM
Our brokerage, Kline May Realty, created a short list of FAQ's regarding the new First Time Home Buyer Tax Credit. We are passing these out to home buyers to educate them on this exciting new credit.
 
If I have owned a home in the past, but don't own one now, can I be considered a first time home buyer?
Yes, in some cases. If you have not owned your primary residence in the past three years, you will qualify for the credit as a first time home buyer.
 
What is the maximum credit I am eligible to receive?
The … (1 comments)

Mortgage Rates Dropping Again? - 02/20/09 09:21 AM
According to Inman News, mortgage rates are nearing record lows. A month ago, mortgage rates were in the 4%'s, and now they are nearing the 5% mark. This, of course, causes an increase in mortgage application rates (a jump of 45.7% just last week compared to the week before!). These low rates also spur folks to refinance.
Is this good for the economy? Bad? Neutral?
To read more on this issue, visit Inman News.
… (1 comments)

A Sales Pep Talk, If You Will - 02/13/09 02:31 PM
This morning I opened up the new "Commonwealth" Magazine published by the Virginia Association of REALTORS. In it was a spectacular motivational (and brief) column about sales. Here it is (thanks VAR, Commonwealth, and the information they got from JustSell.com!):
Today is 20 percent of your sales week
Two sales days are 10 percent of your month
To have only two "slow days" each month is equivalent to having more than one full month of "slow days" each year.
Sales Point:
Every moment of every sales day matters. These are your "money hours." Hesitation for a "better sales day" of the … (3 comments)

Brief Highlights of the Stimulus Plan - 02/12/09 02:31 PM
Yesterday, the House of Representatives and the Senate came to an agreement about the Stimulus Plan. President Obama will likely sign the bill by this week's end. So, what does it mean? What will it do for the economy? When will all these changes take place?
Here are two brief articles that cover those questions with straightforward answers:
Meltdown 101: Highlights of Economic Stimulus Plan
Highlights of Compromise Economic Stimulus Plan
It is quite disappointing that the housing tax credit of $15,000 didn't make it through. And also that this is the only highlight regarding housing:
"HOMEBUYER CREDIT
_ $3.7 billion … (3 comments)

$15,000 Tax Credit to Home Buyers? - 02/06/09 01:49 PM
Another amendment has been appended to the Stimulus Plan. Senate approved this amendment unanimously. This new amendment would provide a 10% tax credit of the purchase price of any new primary residence for home buyers, up to an amount of $15,000. This put the total package to over $900 billion. If the plan passes, the housing incentives in the plan will be very beneficial to home buyers.
See our previous post about how the Stimulus Plan will affect the real estate industry, and the Commonwealth of Virginia.
To read a brief article with the details of this housing tax credit, click … (5 comments)

How The Economic Recovery Act Will "Stimulate" Virginia And Real Estate - 02/05/09 03:21 PM
There is a lot of buzz going around about the American Recovery and Reinvestment Act of 2009. Some say it is all about PR, but there is more to it than that, especially with regards to the real estate industry.
For the Commonwealth of Virginia, if this bill does indeed pass, the benefits include creating or saving 99,000 jobs over the next two years, tax cuts, and savings in health care. To read more about how this act will stimulate Virginia, click here.
For the real estate industry, the benefits are much greater. We could see the $7,500 homebuyer tax credit … (2 comments)

 
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Chris Rooker

Harrisonburg, VA

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Kline May Realty

Address: 1962 Evelyn Byrd Ave, Harrisonburg, VA, 22801

Cell Phone: (540) 421-3179

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