This is a good summary of the current $8000 tax credit that doesn't have to be repaid if you have not owned a home in the last 3 years. You would be wise to take advantage of this if you are eligible.    http://www.federalhousingtaxcredit.com/     Call me if you would like to take advantage of this.  jeff@jeffpresby.com  at 509-947-6800.

Jeff Presby
Broker/Owner
Prudential Now Realty
Licensed Office in WA state
509-947-6800/800-359-2481

Does anyone know  what exactly will be done with the 2 billion dollars Hanford is getting?   Should we build houses for them?  Someone said the jobs will only be temporary and they will be renters.  Can anyone tell me what is going on?

In February there were 127 new listings in Kennewick bringing the total number of homes on the market for sale to 513. The average list price of the homes closed in February was $170,829 and the average sale price of the homes closed was $167,237 In other words the homes that sold, sold for 97.8% of list price.The average days on the market for the homes that sold was 125 days. If you have questions call me at 509-947-6800.

 In February there were 70 new listings in Richland bringing the total number of homes on the market for sale to 398. The average list price of the homes closed in February was $248,067 and the average sale price of the homes closed was $242,143. In other words the homes that sold, sold for 97.% of list price.The average days on the market for the homes that sold was 124 days. If you have questions call me at 509-947-6800.

Following enactment of the American Recovery & Reinvestment Act, the Internal Revenue Service already has posted - at  www.irs.gov - a revised Form 5405, First-Time Homebuyer Credit to incorporate Act's provisions permitting qualifying taxpayers who buy a home this year before December 1 can claim up to $8,000, or $4,000 for married individuals filing separately, on either their 2008 or 2009 tax returns

Jeff Presby
Broker/Owner
Prudential Now Realty
Licensed Office in WA state
509-947-6800/800-359-2481

 In January 2009 There were 119 new listings bringing the end of the month number of homes for sale in the MLS to 387. 31 homes went under contract, meaning a little over 8% sold. The average list price for new listings was $246,100 and the average under contract list price was $234,161. These numbers are an improvement over  December and November.  Call me if you need more questions.

 Furing January 2009 ,  there were 484 homes for sale, 52 went under contract, that means that 10,74% of the homes for sale in Kennewick were  sold.  This means that we have an unsold inventory of  9.3  months this is considered to be a buyers market, Buyers are advised to be agrrisive and sellers are advised to be realistic if they need to sell. for further information call or email me,

In January 2009, 141 homes went under contract out of a total of 1394 that were listed in the MLS. That means 10.1% of the homes  got acceptable offers for the home sellers. This is substantially better than  November and December. There were 343 new listings in January. Call me if you need more questions.

The time is now to take advantage of the low interest rates on home loans. Rates of close to 5% for 30 year loans and as low as 4.25% for 15 year loans have occurred in the last 2 weeks. Coupled with dropping prices this creates an incredible opportunity for people who can ignore the negative newsmedia headlines. The Tricities is fine and is one of the fastest growing areas of the country.   
               Last year rates were as high as 6 1/2% before the recession was declared. The change between 6 1/2% and 5% is dramatic on what your house payment will be. If you borrowed $150,000 at6 1/2% on a 30year loan your payment would be $948/mo. At 5% it would be $794/mo. That's 25% less for a savings of $154/mo. even if you are not looking for a bailout you might want to take advantage of this opportunity. Many smart people are saving money buy either buying now, moving up, or refinancing.