Amy's Blog

How Much Home Can I Afford?

Amy Myers (Century 21 American Heritage) — Tue, 08 Dec 2009 18:57:10 -0600

Many calls come in from first time home buyers not knowing where to start when getting ready to buy a home. Some are not sure how much they can afford or should afford. Here are some helpful tips:

1) One of the first thing to do is to locate an agent that you feel comfortable with and that has your best interests in mind. Interview them if you do not know someone personally, even if you are looking to have representation as a buyer.

2) At the same, time find a loan agent. Check with your agent as he or she may have many contacts from mortgage companies and banks. Quite often I find that Mortgage companies may have better programs and lower rates, although not 100% the case.

3) The next thing is to do a budget after getting pre-approved with your loan agent. Many of my buyers says to me, "I am approved for this amount but I don't want to go that high". They would like some breathing room.

Below you will find a link for a home affordability calculator for the NAR (National Association of Realtor's). If you need assistance, have your loan officer, real estate agent, tax advisor sit down and go over your figures with you. Happy House Hunting. Tax Credit deadline to be under contract is April 30, 2010.

Home Affordability Calculator

New Local McDonald's in Leechburg, PA - Opens Today!

Amy Myers (Century 21 American Heritage) — Wed, 25 Nov 2009 16:11:23 -0600

Today was the big day in Leechburg, PA near my office. The newly built McDonald's opened. As I drove by later in the afternoon today, the place was packed (not an open parking spot) and people were lined up around the building for the new double drive-in. On September 1, 2009 the old McDonald's on Hyde Park road was torn down along with a vacant Long John Silver's building. From start to finish in less than three months.

As I stopped to get get photos last night, the freshly new place was perfectly lit up. There were young kids hanging out already by the door and some had duffel bags. I thought rather strange. Later after talking with some locals, I heard unconfirmed reports that the first 100 people in the door would get free Big Macs for a year. Rumor also has it that it is one of the most high tech McDonald's in the area.

Photos Copyright, 2009 Amy S Myers Photography

Pittsburgh Comes in at Number 4!

Amy Myers (Century 21 American Heritage) — Tue, 24 Nov 2009 13:45:04 -0600

Pittsburgh and the Metro Area proves time and time again a great section of the country to live. Home prices and Mortgages are stable and affordable in the region. The days on market are lower than other cities.

Top Cities that were least effected by the Recession from Forbes:

"To identify these cities, Forbes magazine ranked the 100 largest Metropolitan Statistical Areas by employment rates, the conventional mortgage home price index, and the average days on the market for properties currently for sale.

The top cities on Forbes list were:"

* Omaha/Council Bluffs, Neb.

* San Antonio, Texas

* Austin-Round Rock, Texas

* Pittsburgh

* Harrisburg/Carlisle, Pa.

* Dallas/Fort Worth

* Rochester, N.Y.

* Houston

* Raleigh/Cary, N.C.

* Baton Rouge, La."

Quoted from Realtor.org and Forbes, Francesca Levy (11/19/2009)

Heinz Stadium, Pittsburgh, PA

Photo Copyright, 2009 Amy S Myers

Would You Want a Home with This Inclusion?

Amy Myers (Century 21 American Heritage) — Tue, 24 Nov 2009 11:41:05 -0600

This morning the agents in my office visited a few new homes that came up for sale. It is an older home great shape but needs some updating and would make a great starter home. It has two full baths, brick, and is cape cod style. There is another home on the property that has two bedrooms, block building, real cute, would make a great rental. Both are located on a 1.6 acre lot. The property has plenty of level area for picnics or playing but over in the corner is . . . . a cemetery. It is a quite interesting. Would that keep you away or give you interest in buying? There appears to be about maybe about twelve grave stones. The stones date as far back as the 1700's. It is surprising that you can even read some of the stones. I was able to snap a few with my cell phone. This property is only maybe about 2 miles from our office. It comes with a cute stove too.

So in summary: Two homes (a two and a three bedroom) on 1.6 acres and a cemetery for a little over $100K.

Good Faith Estimate

Amy Myers (Century 21 American Heritage) — Mon, 23 Nov 2009 09:21:28 -0600

A good faith estimate is a statement that you receive from your lender before making an offer on a home. This summary will tell you the loan amount, loan term, interest rate and monthly payment and how much to bring to closing amount other things. It is required by law that you receive this at the time of writing your offer. January 1, 2010 the government is requiring a new format for lenders. This is intended to protect borrowers from big surprises at the closing table. Keep in mind this statement is an estimate and can go up or down slightly.

Home Sales Expected to Increase

Amy Myers (Century 21 American Heritage) — Sun, 15 Nov 2009 19:13:00 -0600

According to Realtor.org home sales are expected to increase in the coming year. The tax credit has already shown to improve the market and the first time home buyer tax credit extension is expected to keep the momentum going bringing additional "step-up" buyers into the market. Don't let the holidays slow you down. There is still a limited amount of time to find your dream home and get closing processed successfully. Find a good agent that can walk you through all the steps.

Here is what Realtor.org had to say:

"Home sales will increase 15 percent to about 5.7 million units and REALTOR® income will be up 20 percent in 2010, NAR Chief Economist Lawrence Yun told a packed room of REALTORS today in a residential economic update at the 2009 NAR Conference & Expo.

Yun credited the home buyer tax credit with unleashing sales on the lower-end of the housing market this year, bringing up to 400,000 first-time buyers into the market who wouldn't have bought otherwise. That influx tightened inventories of starter homes, shored up prices, and helped reduce households' fear over continuing price drops.

This virtuous cycle will continue now that the federal government has extended the credit to mid-2010 and expanded it to make a smaller credit available to repeat buyers and to households with higher incomes. “The key is stabilizing prices and preserving household wealth,” he says.

Yun predicts the supply of homes to stabilize at the historic norm of six to seven months. Homes above $500,000 will remain elevated in the near-term, but that weakness will be offset by a hefty drop in starter-home inventories, which are running at about a five months supply. . . . "

Quoted from Realtor.org where you can read more.

Veterans Day

Amy Myers (Century 21 American Heritage) — Wed, 11 Nov 2009 21:27:50 -0600

We are truly blessed by the men and women who have fought for our freedom we have today. Here are some photo of Veteran War Memorials in downtown Leechburg, PA and next to my office in Allegheny Twp, Leechburg, PA 15656 that were taken today.

Using Homebuyer Tax Credit for Down Payment

Amy Myers (Century 21 American Heritage) — Mon, 09 Nov 2009 07:23:39 -0600

Buyers have inquired, and articles have been written about the possibility of using the first time homebuyer tax credit, or at least part of the funds, for a down payment on the purchase of home. I had written previously about this opportunity..

The key to having funds be used for a down payment was finding someone who would fund this amount because it would really have to be a loan. Well, I actually saw this happen. I recently had a closing in October, where the buyer for my sold listing actually did use the tax credit for the down payment. The transaction contained seller's assist (where the seller pays part of the closing fees) and the balance due after that was around $4k. PHFA (Pennsylvania Housing Financing Agency) backed the balance due amount. The buyer's have 12 months to pay the approximately $4K amount back as an interest free loan. The funds to pay back would come after filing their taxes in the spring. What we were told at the closing is, if they chose not to pay it off it would become a loan and would be a lien against the property.

What I did find out at the closing was the PHFA had run out of funds at the point of this closing so we were not likely to see funding again in the near future from PHFA. It was a great deal for the buyer because with the seller assist, VA backed funding, and the tax credit funds for the down payment, the cash due at closing from the buyer was "Zero dollars". This is extremely rare but apparently it does happen. The interesting thing was the buyer even had a credit due them at closing but due to the loan rules the buyer was not able to get any money in their pocket after the transaction so it had to go onto the principle of their loan.

Tax Credit Extension Signed into Law by President

Amy Myers (Century 21 American Heritage) — Fri, 06 Nov 2009 14:45:44 -0600

Great News! It is official. The President has sign the homebuyer tax credit extension to law. Activity has already picked up in the area this week.

"Obama Signs Extended Tax Credit into Law"- Expected to contribute approximately $22 billion to the economy, Congress overwhelmingly passed a bipartisan measure this week extending the $8,000 home buyer tax credit to April 30, 2010". . . . .

More people are now eligible to take advantage of the law, which includes a $6,500 tax credit for buyers who are current home owners and have lived in their home for five of the past eight years."

"Which Properties Are Eligible? - The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Will the Credit Be? - The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:

1) The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.

2) The buyer's income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit." - Quoted from Realtor.org

Additional details on the tax credit

Here is a helpful chart on the new home buyer tax credit changes. You will be able to compare the first home buyer tax credit plan that expires November 30, 2009 and the new plan that starts December 1, 2009. Chart supplied by the NAR (National Association of Realtors).

Interesting Real Estate Sightings . . .

Amy Myers (Century 21 American Heritage) — Wed, 04 Nov 2009 17:36:07 -0600

As a real estate agent, I really enjoy looking at homes. As you may have read from previous posts, there have been some rather outlandish things and ancient items and decor. Today, I was out with a buyer looking at multi-unit properties. The first one we went to was curious and intriguing. There were two sides, and on each side was an upper and lower apartment. One of the up stairs had the bath out in the hallway - not inside the locked apartment. We later found out when speaking to the owner that the home used to be a hotel about 100 years ago. There were old original stair cases on both sides that were in excellent condition with ornate detail in the woodwork. There were fireplaces in most of the rooms. Each room had been a keeping room in the hotel which was mainly used by guests for the opera house next door. Since the owner happen to be there, she took us through and told us many stories about the house and the neighborhood being that it was in her family for years. She even told us where the secret cubbie holes where, that her dad had made as a child. The original hotel had four stair cases instead of the two that were currently there. Additional staircases made the traffic flow smoothly. Below is a photo of a stove that was in one of the apartments.

The next home we viewed had a rather strange pipe coming out of the house. This duplex had a room on the third floor and there was a sink in it. There was no toilet and no tub - just the sink. Now even stranger, the sink drained out the side of the house and connected into the drain pipe from the rain gutter. If anyone has any idea what they were thinking, I would be interested.

Senate Democrats Agreed to Extend First-Time Home Buyer Tax Credit

Amy Myers (Century 21 American Heritage) — Wed, 28 Oct 2009 19:44:32 -0500

Great News! Senate Democrats Agreed to to Extend First-Time Home Buyer Tax Credit. If you have paused your home search, get ready to go back out and look. The monetary cap is not as high but still very much worth the deal. For you home buyers who are ready to upgrade to your second home, now is the time because the buyers are going to still be enticed. Make sure you have your house priced right. There are still some great buys for "step up" buyers so have fun shopping.

"Senate Banking Committee Chairman Chris Dodd (D-Conn.) says Senate Democrats have agreed to extend the first-time home buyer tax credit. The latest version extends the program to home sales signed — not closed — by April 30. Purchasers would have another 60 days to close the sale. The credit will also be expanded to include so-called step-up buyers who have lived in their current home for at least five years.

"The credit would be cut nearly 10 percent to a $7,290 cap. Income eligibility for first-time home buyers would stay the same, but it would rise for step-up buyers to $125,000 for individuals and $250,000 for couples."

Source: Bloomberg News, Dawn Kopecki and Ryan Donmoyer (10/27/2009)and Realtor.org

Read more helpful real estate information at AKHomes.info

Possible Tax Extension Likely?

Amy Myers (Century 21 American Heritage) — Tue, 27 Oct 2009 21:09:56 -0500

Today at my Real Estate board meeting it was discussed that there is a good chance of the Tax Credit being extended. Here are some items that are being proposed for the new extension according to a guest lobbyist for government affairs:

1) The tax credit could apply to "step up buyers", buyers who will be upgrading to a new home.

2) The "step up buyers" will have had to be in the home they are leaving for at least 7 years

3) Step up buyers" may have to be in their next home for at least three years.

4) The tax credit new deadline may extended to sometime in the spring of 2010.

5) If an executed contract is secured before the deadline, an extension for the credit could be possible for up to 60 days to complete closing.

Here is some additional information from the Associated Press and Realtor.org

"It seems likely that the U.S. Senate will approve a deal to extend the First-Time Homebuyer Tax Credit, but the devil is in the details.

Florida Democrat Sen. Bill Nelson told reporters traveling to Florida with President Obama on Monday that he thought that the extension would be approved, but both senators and representatives are among those who think that there should be some fiscal offset for the cost of the extension. . . . .

The proposal in the Senate that appears to have the most likelihood of passage would extend the $8,000 credit through March 31, then its value would drop by $2,000 for each of the subsequent three quarters of 2010. This plan was offered by Senate Majority Leader Harry Reid of Nevada and Senate Finance Committee Chairman Max Baucus, a Montana Democrat."

Photo Copyright, 2007-2009 Amy Myers

Existing Home Sales Had a Large Rebound

Amy Myers (Century 21 American Heritage) — Fri, 23 Oct 2009 19:36:58 -0500

According to the information below from Realtor.org, first-time home buyers accounted for almost half of home sales. I hope that the tax credit can be extended. Many of my recent activity has been buyers trying get the tax credit. This credit has also helped some of my sellers upgrade to their second home due to the first time home buyers purchasing their home. It will be interesting to see what congress decides in the coming weeks.

"Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of REALTORS®.

Existing-home sales—including single-family, townhomes, condominiums, and co-ops—jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million units in September from a level of 5.10 million in August, and are 9.2 percent higher than the 5.10 million-unit pace in September 2008. Sales activity is at the highest level in more than two years, since it hit 5.73 million in July 2007.

Lawrence Yun, NAR chief economist, said favorable conditions matched with a tax credit are boosting home sales. “Much of the momentum is from people responding to the first-time buyer tax credit, which is freeing many sellers to make a trade and buy another home,” he said. “We are hopeful the tax credit will be extended and possibly expanded to more buyers, at least through the middle of next year, because the rising sales momentum needs to continue for a few additional quarters until we reach a point of a self-sustaining recovery.” . . . . .

Conditions for First-Time Buyers:

Early information from a large annual consumer study to be released on Nov. 13, the 2009 National Association of REALTORS® Profile of Home Buyers and Sellers shows that first-time home buyers accounted for more than 45 percent of home sales during the past year. A separate practitioner survey shows that distressed homes accounted for 29 percent of transactions in September."

Vandergrift, PA Gets Ranked a Top Town in the Nation to Purchase a Home

Amy Myers (Century 21 American Heritage) — Thu, 22 Oct 2009 12:48:32 -0500

Vandergrift, PA tucked away NE of Pittsburgh, PA (founded in 1895) was the first town of its kind. This town was a planned industrial town and created to be sold to the workers of a Steel company that was founded at the time. George McMurtry, who was president of Apollo Iron and Steel (located in Apollo across the river from Vandergrift) needed to room to grow his company. Vandergrift was a large 650 acre farm that was picked to be the place for this new town. Frederick Law Olmsted designed the town and after being approached by George McMurtry at the 1983 World's Fair.

Lots in the town were offered to the workers of the mill so they could have their own homes. The town was built with paved streets and sidewalks. The homes included water, natural gas, electric and sewer lines. The town was actually built in advance and control turned over to the workers. At this time in history, this was a unique idea in America.

Today, Vandergrift is getting reborn. Buildings in the town are being renovated and updated with the help of the V.I.P (Vandergrift Improvement Program). Washington Avenue boasts of its large Victorian Homes with some homes on the National Register. There are lots of cute shops and on holidays and special occasions and Kiski Area football games residents and visitors line the streets for parades.

Read more about how Vandergrift was recently recognized nationally:

"A real estate Web site has determined Vandergrift ZIP code 15690 -- which includes portions of Allegheny, Parks and Gilpin townships -- is among the best places in the country to buy a home.

Using a system that considers home values and school performance, cyberhomes.com ranked the Vandergrift area as the fourth-best community in the country to live in its "2009 Home Value-Schools Ratings Report Card."

In addition, businessweek.com created its ranking and put Vandergrift at the top. The site used Cyberhomes data in building its list.

What makes Vandergrift's appearance on the lists notable is the relatively low value of homes in the area.

The median sales price in the Vandergrift area, according to Cyberhomes, is $65,600.

Median sale prices for the three communities ranking higher on the Cyberhomes list range from $260,000 to more than $725,000.

"(We) selected Vandergrift as an example of an area where home values are relatively affordable -- as compared to the national average and Pittsburgh area -- and schools performance is very highly rated," said Sarah Weissman, Cyberhomes product manager.

The median sales price in the Pittsburgh metropolitan area is about $125,000, according to Cyberhomes."

Quoted from TibLive News

Photos Copyright - Amy Myers, 2001-2009

Will The First Time Home Buyer Tax Credit Be Extended?

Amy Myers (Century 21 American Heritage) — Wed, 21 Oct 2009 13:48:37 -0500

Many recent transactions and potential transactions that I have dealt with have been buyers who were enticed by the first time home buyer tax credit. Since you must close by November 30, 2009, the window is no longer open. The market has changed this month. I believe buyers are holding out to make their next move. It appears that the tax credit has done its job by pumping up the economy and reducing inventory. The National Association of Realtors is pushing for an extension of the tax credit.

Here is some information from the National Association of Realtors:

“The data on the present home buyer tax credit show that the credit has had its intended impact—sales have jumped in recent months to a projected 5.1 million for the year and housing inventory has been trimmed, thus stabilizing home prices noticeably,” Phipps said. He also pointed out that each home sale generates approximately $63,000 in additional economic activity, providing a tremendous economic boost to the national economy."

Will The First Time Home Buyer Tax Credit Be Extended?

Times are Historic to Buy a Home

Use Tax Credit Down Payment?

Homebuyer Tax Credit Window is Ticking Away

Record Lows for Mortgage Rates Still Exist

Homes are Being Swept Up Quickly

Home Buyers Don’t Miss the Opportunity For Your $8000

First-Time Home Buyer Tax Credit to Rise?

More Tax Credit Info Surfacing

First Time Home Buyer Tax Credit Question

First Time Home Buyer Tax Credit Loans

Great News! Tax Credit Can Be Used for Down Payment

First-Time Homebuyer Federal Tax Credit Info

Home Staging Makes a Difference

Amy Myers (Century 21 American Heritage) — Tue, 13 Oct 2009 20:11:25 -0500

Staging is a very import process in selling a home. Some are more talented than others and some have larger budgets than others. Recently, I sold a home that was staged very well by an investor. We were quite surprised at the closing when my buyers and I met the home owner. This young single woman in her mid to late 20's was quite the investor with 300 rentals and close to 10 house flips in the process. One of her special talents was staging her properties. She has the man power to do the renovations and then she runs out and picks some a few pieces of furniture, throw rugs and some accents. She does such a great job with the cosmetic items, fresh paint, flooring and decor, it makes the place hard to resist. The staging really brings out the buyers emotions and draws them in. I must say it might make some people jealous being able to go out shopping each time she flips a house - which she pretty much does. She does not always use the furnishings over because most of the time the buyers ask her to include her furniture and accents with the sale of the house. It sounds like a win win situation for the buyer and the seller.

So sellers out there, are your walls and carpets dirty? I had a seller that was not able to see this even after potential buyers made comments. If you don't have extra funds for special accents, at minimum make your home squeaky clean and clutter free. You need to be competitive in this buyers market.

Times are Historic to Buy a Home

Amy Myers (Century 21 American Heritage) — Fri, 09 Oct 2009 11:05:29 -0500

It is a great time for people to get into the housing market as I have mentioned over the last few months. There is still time to take advantage of the market conditions but don't wait too long. Things will change.

Believe it or not but I have had different buyers bidding and buying properties less than $20K and some that do not need that much work. It is an amazing deal and some did not need always need a major overhaul. As the market begins turn turn around there are going to be less opportunities like this. The deals that are there will be more competitive. Some houses such as these can have multiple bids on them (as many as five or ten bidders or more). If you see a deal move fast and bid competitively whether for investment property or for owner occupied.

It appears that first time home buyers have really taken advantage of the tax credit. ""First-time homebuyers, most between the ages of 25 and 45, accounted for about 45 percent of home sales from January through July 2009, according to the National Association of REALTORS®".

"This is a historic time," says George Jaramillo, a 35-year-old business analyst in Atlanta, who recently bought three homes, two of them foreclosures. "It's a great opportunity to make some great gains in the future." - Realtor.org, Associated Press

Multi-Unit Investment Property - Just Listed $46,900!

Amy Myers (Century 21 American Heritage) — Mon, 05 Oct 2009 20:08:58 -0500

Attention Investors: This is an up and down duplex. Three bedroom on upper level unit (consists of 2nd and 3rd floor)- rents for $650/mo. First floor level consists of two bedrooms - rents for $600/mo. One year leases for both units were signed September 2009. There is a garage also that is rented out for $35/month. Sale Price: $46,900. Current owner has made many recent upgrades to the property. Contact today for more information and an appointment. MLS #795248

Enjoy Pittsburgh

Amy Myers (Century 21 American Heritage) — Fri, 02 Oct 2009 14:17:54 -0500

ecently I had an opportunity to take some photos from Heinz stadium in Pittsburgh (I love taking photos). There are lots of fun things to do and observe in the city of Pittsburgh. One thing that amazes me is all the bridges in the city. Did you know that Pittsburgh has 720 bridges within the city limits?

One fun thing you must do while you are there is ride the incline to the top of Mount Washington and see the amazing view. There are also a lot of great restaurants at the top. So if you are a photo buff like me, or even if you are not, take your camera and get a shot of you and whomever you are with. Make a great memory and enjoy the city.

Here are some fun facts about the city:

Pittsburgh audiences enjoy the nation's fifth oldest opera company.

Pittsburgh ranked in the top five Most Livable Cities in the 1983, 1989 and 1985 editions of the "Places Rated Almanac."

The fountain at Point State Park, right at the tip of the golden triangle (downtown Pittsburgh) is fed by a glacial formation and sprays 6,000 gallons per minute.

Pittsburgh is home to nine Fortune 500 companies.

The Carnegie Museum of Art opened in 1895 as the world's first museum of modern art.

Mister Rogers' real neighborhood was Oakland, home to WQED (the first public television in the country) and the "Neighborhood of Make Believe."

Allegheny County has more than 1,700 bridges, 720 within city limits, and 15 major bridges crossing downtown Pittsburgh alone.

Pittsburgh lost the "h" in its spelling in 1891, but after 20 years of protest, the U.S. Board on Geographic Names relented and the "h" was restored.

First Retractable Dome - September 1961 Pittsburgh's Civic Arena boasts the world's first auditorium with a retractable roof.

The First Baseball Stadium in the U.S. - 1909 In 1909 the first baseball stadium, Forbes Field, was built in Pittsburgh, followed soon by similar stadiums in Chicago, Cleveland, Boston, and New York.

First Motion Picture Theatre - 1905 The first theater in the world devoted to the exhibition of motion pictures was the "Nickelodeon," opened by Harry Davis on Smithfield Street in Pittsburgh.

and more . . .

Fun Facts Quoted From: About.com:Pittsburgh

Curb Appeal for the Fall

Amy Myers (Century 21 American Heritage) — Thu, 01 Oct 2009 20:41:17 -0500

"There is no better time than fall to get yards looking great, according to the “Yard Doctor” Trey Rogers, a professor of turfgrass management in the crop and soil sciences department at Michigan State University." -Quoted From: Realtor Magazine

Trey gives some great tips for home owners on how to get your yard ready for the next season.

1) Fertilize early in the Fall with a good combination of nitrogen and potassium combination fertilizer.
2) Thoroughly reseed and water the yard.
3) Cut the law on a regular basis with a height of 2 1/2 to 3 inches.
4) Get your leaves up quickly so your lawn can breath.
5) Spray weed killer on weeds to help prevent more weeds in the spring.
6) Decorate with the season. Place potted mums and pumpkins near the entrance to your home.

Rates are Still a Great Reason to Buy Now

Amy Myers (Century 21 American Heritage) — Mon, 28 Sep 2009 11:15:28 -0500

Only a few days left here in the housing market to get under contract by October 1 ( to get closed and qualify for the first time homebuyer tax credit). So if you can't get the tax credit, do you still have reason to be in a hurry to buy? Well sure you do. You never know when the rates will start heading up and they are still low according to this recent report. Rates are down from this time a year ago. It is still a buyers market with seller's and their agents having to be creative to get houses sold. Inventory is still plenty, giving sellers plenty of competition.

I can tell you that buyers are sweeping up the deals. I just had someone ask to see three homes this morning and all three were under contract. Another buyer isn't moving fast enough and are being beat out by other buyers when the deals are there. Don't think too hard or long if you see something you like. Chance are it is catching other buyer's eyes too.

Use Tax Credit As Down Payment???

Amy Myers (Century 21 American Heritage) — Mon, 21 Sep 2009 18:45:58 -0500

In past posts I have mentioned the tax credit, which if not extended will expire by November 30, 2009. This means your transaction must close by this date. Aside from the deadline, also mentioned was using the tax credit as part of your down payment. But who would actually loan you the money and wait for the up to $8,000 repayment by tax refund time?

PHFA (Pennsylvania Housing Finance Agency) has a program called Credit Advance Loan Program (TCA) that will loan you up to $6.000 for use towards a down payment according to Kate Newton, Director of Home-ownership Programs for PHFA.

Even if you miss the tax credit deadline. PHFA has some great programs out there for first time home buyers. Contact your loan officer to discuss.

Near Murrysville, PA and Monroeville, PA Agent Bonus = 1% Sale $274,900

Amy Myers (Century 21 American Heritage) — Wed, 16 Sep 2009 07:47:27 -0500

Ever Heard of a Door Air Conditioner??

Amy Myers (Century 21 American Heritage) — Wed, 16 Sep 2009 07:22:41 -0500

Have you ever heard of an air conditioner in a door? I had not since I saw this listing over the weekend. There was one in the kitchen and one in the basement. The one in the basement did not even vent to the outside. The unit vented to a storage room. Interesting set up I must say. My buyers comment on the kitchen door unit was, that you had to leave the door open to use the unit because it was in the storm door . . . .??

Another oddity in the last few weeks was a garage. There was a garage that was behind the house. The house had a single integral one car garage in the front. But a few feet behind the house was the detached garage. Ok well that sounds somewhat normal you might think but not so. The garage door was facing the house only a few feet from the house. My question is how do you get the car in there???

Photos are below . . .

The Market is Changing

Amy Myers (Century 21 American Heritage) — Tue, 15 Sep 2009 08:23:44 -0500

The housing market is changing everyday. As things change a new approach is needed on how to proceed. It is a buyers market, or a sellers? How are the rates? When should I buy? What is the next step in the process . . . etc . . .

Here are some good tips for first time home buyers to get you started. Be conservative and use wisdom in each step you make. Find a good agent that will be patient with you.