Lancaster Real Estate Blog - Jeannie Kontis

Long & Foster Real Estate ranked #1 Privately-Owned Real Estate Residential Company

Sun, 24 May 2009 10:34:19 -0500

This press release was just announced by Long & Foster, and i am proud to be a part of the Lancaster County, PA, Long & Foster office located at 108 Foxshire Drive in Manheim Township, Lancaster County.

The Long & Foster®Companies Ranked
as No. 1 Privately-Owned Residential Real Estate Company in America

Chantilly, Va. May 19, 2009 –The Long & Foster® Companies announced today that it was ranked as
the No. 1 privately-owned residential real estate brokerage firm in the United States in the REAL Trends 500
Survey of the 500 mega-brokers in the U.S for residential sales transactions in 2008. Long & Foster was also
named by REAL Trends in their REAL Trends 25 research report which lists the 25 largest housing services
firms in the United States selected from a survey of over 800 leading residential brokerage firms reporting at
least one settlement service in addition to brokerage — Long & Foster had 48,890.

Long & Foster retained its top spot as the largest privately-owned real estate company in the United
States on The REAL Trends 500, the survey of the largest residential real estate brokerage firms for closed
transaction sides. REAL Trends is a leading publisher of trends and analysis on the residential brokerage
industry. In 2008, Long & Foster recorded $48.9 billion in closed sales volume and 72,302 closed transaction
sides.*

Of all types of real estate companies nationwide — conglomerates, franchisers, and privately-owned — Long &
Foster ranked third nationwide.

*Transaction Sides: Every real estate transaction involves both a “buy” side and a “sell” side. Brokerage
companies like Long & Foster may receive commissions from their representation of either one-or both-sides of a
transaction.

About The Long & Foster Companies
Long & Foster® Real Estate, Inc. is the largest privately held residential real estate company in the United States. The
company is part of The Long & Foster® Companies, which also includes Prosperity Mortgage® Company; Long & Foster
Insurance Agency, Inc.; and Long & Foster Settlement Services. Long & Foster Real Estate, Inc. represents more than
13,000 agents in seven Mid-Atlantic states, plus the District of Columbia. The company sold more than $26.4 billion
worth of homes and helped people buy and sell homes 76,714 times in 2008. The Long & Foster Companies 2008
combined sales for the year were in excess of $48.9 billion.

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For more information on Homes for Sale in Lancaster, or questions and/or concerns about buying or selling a home in Lancaster County PA, please contact Jeannie Kontis at (717) 330-5137 or email at Jeannie@JeannieSellsLancaster.com.

Search for Lancaster Homes for Sale at www.JeannieSellsLancaster.com

Jeannie Kontis, RealtorⓇ, is a member of the award-winning Bob Wells Realty Group of Long & Foster Real Estate, Inc, and serves buyers and sellers of real estate throughout Lancaster County.

All content Copyright ⓒ 2009 Jeannie Kontis Homes in Lancaster PA - Real Estate in Lancaster County

Autism Awareness Month

Sat, 04 Apr 2009 13:04:12 -0500

Do you know someone with Autism? This is Autism Awareness Month. Let's all become aware!

Via Melina Tomson, M.S. Salem Oregon Real Estate Specialist (Tomson Burnham, llc):

The other day my daughter's kindergarten teacher and I were chatting as I was picking up my son from Chess Club.

She had to send my daughter to the library. My daughter wasn't in trouble, but her class was. See...my daughter has ASD, that is Autistic Spectrum Disorder. While much improved, she tends to repeat questions that are asked of her as her brain tries to process what people are saying. It gets a lot worse when she is anxious, and school makes her very anxious.

The problem in her kindergarten class that day...kids were giggling and laughing because she was repeating the teacher's question as she desperately tried to figure out what the teacher was asking her. The teacher had my daughter leave the classroom so she could talk with the children about differences in people. That we are all different, and that we don't laugh or giggle when we see our peers struggle.

My daughter is a "cupcake" as stated by some of the professionals at her school. She rocks. I agree.

Autistic Spectrum Disorders include Aspergers, PDD-NOS (Pervasive Developmental Disorder, Not Otherwise Specified), and Autism.

I won't go into all the details about the differences in diagnoses, but needless to say it can make life a little challenging for some people. The world of Autism is filled with controversy. I am of the personal opinion that we as a nation are toxifying ourselves and our children. No matter what you think about Autism...allergies, childhood cancers, etc are also on the rise.

The Department of Defense reports that 1 in 88 dependents are diagnosed with an ASD and the UK (United Kingdom) just annouced their numbers...

1 in 60 children

1 in 34 boys

are diagnosed with an ASD.

I would love to tell you that all kids diagnosed with ASD's will be okay, but that is not true. Some people with ASD's head off to college, get married, and have kids. Some have trouble maintaining work. Some live in group homes or with parents. Just as there is a spectrum of functioning as young children, the same is true for our ASD adults.

I encourage all of you to learn a little bit about the toxins that we put into our bodies and our environment, and the impact that it can have on the neurological/immunological development of our children.

There are many great resources and social networking groups on twitter and facebook for ASD families.

Being a blogger and social networking chick here are some ASD related blogs and networks online.

Wrong Planet

Translating Autism Blog

Autism Blog

#asd on twitter

Model Me Kids

Age of Autism

Advertures in Autism (she has a great blogroll of other Autism blogs to read).

Clipart was provided courtesty of Design By Cher

Realtors® Win! No Banks In Real Estate!

Fri, 03 Apr 2009 20:34:45 -0500

Courtesy of Katerina Gasset, who we all know along with Nestor Gasset as the short-sale specialists in Florida. Great news for consumers and the real estate industry in general:

Via Nestor & Katerina Gasset Realtors® Wellington Florida Luxury Homes (International Properties and Investments, Inc.):

Realtors® just won the long fought battle to keep banks out of Real Estate. It certainly has been a no brainer to prove that banks just don't have what it takes to be in the people business after all the short sale fiascoes and foreclosures problems.

While I have no clue why this bill was placed in the H.R. 1105 Omnibus Appropriations Bill because it really has nothing to do with all the spending and I am totally against the massive spending- at least I can say that one good thing was in the bill!

Now large banks are PERMANENTLY banned from entering into the real estate business. The new law bans the Treasury and the Federal Reserve from creating or making any rules, passing on any orders or doing anything else that would open the door to allow the large banks from doing real estate.

NAR has fought for many years to get this passed since the banks lobbying to get this on the books. If you contribute to RPAC you can be happy that your money was well spent and as Realtors ® you have a victory in these economic times.

The reason that NAR was fighting to keep big banks out of the real estate business is because it could have created an anti competitive and anti consumer concentrations of power within the financial sector. This would increase the cost to buyers. Banks in real estate is inconsistent with the banking laws and is bad for consumers and bad for banking.

It is obvious that large banks in the real estate business would not be good for Realtors®, especially those that own and operate small indepenent companies. It gives the banks an unfair advantage over real estate companies because banks can get cheap capital from the Federal Home Banking System and from Federal Deposit Insurance.

It would create a conflict of interest for the consumer. Here is a post I wrote about what it may be like if you had to list your house with a bank!

I am sure that the complaints about how bad the banks handle short sales have something to do with getting this passed!

Contact Nestor Gasset and Katerina Gasset, CIPS, Realtors®, International Properties and Investments, Inc. Licensed Realtors® in Florida at 561-753-0135 to list your property for sale or to purchase a property in Wellington, Boynton Beach, Manalapan, Manalapan Point, Lake Worth, Hypoluxo Island, Lantana, West Palm Beach and the rest of Palm Beach County Florida and Port St Lucie Florida. We are accepting referrals.

To view all Florida short sales For Sale Click here and then click on Search For Homes We know Palm Beach County and Port St Lucie Florida and will help you get your home Sold if you need to Sell your home and help you buy your home in Palm Beach County Florida : Call us today.

By TwitterButton

Realtors ® Win! No Banks In Real Estate! was first published on South- Florida-Luxury-Living.com.

Lancaster Real Estate - $5000 Assistance for Lancaster City Home Buyers, First Time Buyers

Wed, 18 Mar 2009 13:06:29 -0500

First Time Homebuyers purchasing in Lancaster City can now look in to qualifying for up to $5,000 down payment assistance through the LHOP program. These funds were initially set up for purchases outside of the city, but a portion of the funds are now available for home purchases in Lancaster City. This is a great boost for many first time buyers! Contact LHOP for information - as there may be income and other requirements necessary to qualify.

From the Lancaster Newspaper:

"Buying a first city home just got a little easier for low- to moderate-income residents.

First-time homebuyers in the city will now have access to a pool of $350,000 in assistance for down payment and closing costs through the Lancaster Housing Opportunity Partnership.

Previously the aid, which comes in the form of a $5,000 interest-free loan for those who complete an LHOP housing class, was available only to Lancaster County residents who purchase county homes outside the city.

But a new arrangement between the county and city makes it possible for the entities to share the federal housing funds that bankroll the LHOP loans."

You can read the rest of the article and information on this First Time Buyer's Assistance Program here.

You can reach me directly at 717-330-5137.

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Rolling Hills of Historic Southern Lancaster County

Tue, 17 Mar 2009 22:49:45 -0500

I wrote this post about two years ago. Today, I spent most of the day with some of the local Amish community, which reminded me about this post and a gentler way of living. I thought I would share it again.

- Jeannie

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I was fortunate enough to take a drive through Pequea Township yesterday in Lancaster County PA.

Pequea Township is located in the Penn Manor School District, and is located south of Lancaster City.

I forget how much I love this rural area of beautiful Lancaster County. Travelling south on Route 272 (Willow Street Pike) , I turned west onto Truce Road. I know there were quicker ways to get to the address I was visiting, but to me this was the more direct route. By the way, watch out for the road construction on 272. What is normally a pleasant drive turned out to be a bit of a knuckle-clencher, as the lanes are narrowed down thus forcing you to drive half on the road and half on the shoulder! Still, once I turned off of 272 onto Truce Road I was able to relax and enjoy the "show".

The "show" consisted of the road opening up to the beautiful farmland fields before me. The rolling countryside held views of the spring lambs frolicking in a field -- I had to slow down to enjoy those a bit. The dairy cows were basking in the sun and I witnessed a number of people out farming their land or working on their gardens. It was really a beautiful day for a drive in the Lancaster Countryside, and I forget just how rich our beautiful Lancaster County is with views such as this. I can literally feel the tension fade from my shoulders as I enjoyed the scenery of this lush countryside.

After my visit with the owners of this adorable little Lancaster County farmhouse, I decided to take another route home to avoid the construction heading back towards Lancaster City. The scenery changes while traveling north on Marticville Road, trading farmland pastures for thick wooded areas and hairpin turns, then opening to a clearing of farmland views again. It's difficult trying to keep my eyes on the road, fearing I'd miss another beautiful vista before me! Having been raised in New York City, and now living in suburban Manheim Township, I've always wondered what it would be like to live in such open, fresh-air country. I would love to wake up, pour a mug of coffee, and sit on a wide front porch with views of the Susquehanna River off to the distance, my view interrupted only by the green hills spotted by the occasional farm animals as they grazed.

Until 1853, Pequea Township was part of Conestoga Township, and is located between the Pequea Creek and Conestoga Creek. It is bordered by West Lampeter Township on the northeast, Providence Township to the southeast, Martic Township to the south, and Conestoga Township to the southwestern. The northern and northwestern areas are bordered by Lancaster.

Pequea Township farmland holds one of Lancaster County's most prized glories -- rich, fertile soil -- and is among the best in Lancaster County for agricultural use. Some interesting demographic information of the area can be found HERE. Over 300 homes in the township have been built prior to 1935. I'm sure several of those are pushing 100 years old by now, as is the Lancaster historic farmhouse I was visiting yesterday.

GOOGLE MAP of Pequea Township.

If you are interested in buying or selling a home in the Lancaster County PA area, or Penn Manor School District, please feel free to contact me directly for information. There are many charming, historic homes for sale in Lancaster PA, as well as beautiful new homes for sale. These Lancaster countryside views are priceless, and are included with your purchase!

For Lancaster Real Estate Information, visit Homes for Sale in Lancaster PA -- Lancaster County Real Estate

You can reach me directly at 717-330-5137.

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Happy New Year Crossville. 2009

Mon, 16 Mar 2009 21:56:29 -0500

Christina Williams, a fellow AR member from Crossville, TN passed away last night.

Just a few short weeks ago at the beginning of 2009 she posted the following poem. I thought it would be fitting to reblog in her memory.

We should all remember to live life to the fullest, to tell our loved ones what they mean to us, to laugh, and to take the time to care for one another. Life is far too short to do otherwise.

Via Christina Williams. REALTOR® TN property search & local insights (First Realty Company):

First Realty Company Crossville, TN. Would like to wish Cumberland county a very Happy New Year.

LIFE I AM THE NEW YEAR

Life I am the new year.
I am an unspoiled page in your book of time.
I am your next chance at the art of living.
I am your opportunity to practice what you have learned about life during the last twelve months.
All that you sought and didn't find is hidden in me,
waiting for you to search it out with more determination.
All the good that you tried for and didn't achieve
is mine to grant when you have fewer conflicting desires.
All that you dreamed but didn't dare to do, all that you hoped but did not will,
all the faith that you claimed but did not have --
these slumber lightly, waiting to be awakened
by the touch of a strong purpose.
I am your opportunity
to renew your allegiance to Him who said, "behold, I make all things new."
I am the new year.
-- Author Unknown

Finding a Door to Walk Through and moving on

Sun, 15 Mar 2009 21:58:48 -0500

I have a recent deal that is hanging on by a thread. I've written about it several weeks ago in I Now Pronouce You Seller and Husband, and while we thought we had ironed out the problems it seems that more have surfaced.

A seller getting cold feet and changing her mind is one thing.

... Refusing to sign a release is another.

Luckily, my buyers are very reasonable people, and we've just found another home for them which we put under agreement this weekend. Still, it would be nice to have their escrow deposit returned from the "Let's Not Make a Deal" seller behind curtain #1.

I believe the seller would have signed the release of escrow, if the broker had not tossed in a letter telling her that they are suing her for their comission because she refuses to sell the house. Granted, they have every right to do so, but it should be done AFTER the release and termination forms are signed. So, now she is refusing to sign anything.

We'll go to court if we have to, but before we get that far we thought we'd try something a little different. My buyers, not hearing any updates from the listing office for weeks, decided (with my and my broker's encouragement) to write the seller a letter directly. And, it worked! They wrote a heartfelt letter about how they understand her circumstances (which I won't go into here) and how they would really like to work with her but at this point they need to move on. They asked her to please sign the escrow release, and included a copy of the document. They also included a self-addressed stamped envelope.

As a last minute thought, they added their cell phone number in the letter just in case she decided she wanted to talk to them. And guess what? She called them the next day. Receiving the letter was appreciated, and she explained to them (just as I suspected) that the listing broker is threatening to sue for commission. She understands now that the buyers have nothing to do with that, as it is between her and her agent and broker. She agreed to sign the release and will mail it to them.

We did let her know, of course, that we would take her to court if necessary -- hey, I'm no pushover -- but it seems that won't be the road we'll be needing to take. Whatever happens now is between her and her broker, who should have done a better job of trying to keep the lines of communication open for all parties.

They shut the door on her, she shut the door on them, and the buyer and I were left standing outside on our own.

Luckily, we found another doorway to enter, and it seems things will work out.

And, we are in escrow for another home - so all is good!

I admit that I have a gripe about how this was handled, and the broker was far more interested in his comission than in getting a release signed and communicating to all parties. Not my problem, as long as my buyers are free to move on.

Deflation Nation: How to Be A Seller When No One Wants to Buy

Mon, 09 Mar 2009 20:35:43 -0500

I have to admit that I have been enjoying the falling prices on some shopping that I've been doing lately. Although I never like to see a business fail or suffer, I've picked up furniture at a steal and am looking forward to some specials on a few spring wardrobe pieces. We're even running some great deals at the business my husband and I own, Fox's Country Sheds (a quick plug for my favorite shed builder!)

But, where does this leave the home seller who is clinging to the value of their home from a year ago, or even longer?

Janet Guilbault, California Mortgage Expert puts it all into a great perspective in her post below:

Via Janet Guilbault, California Mortgage Expert (Banker/Broker with RPM Mortgage, FHA Certified):

Have you noticed????? Just about everything out there is, well,...... a whole lot cheaper.

Sure, the focus is on real estate and the the stock market. But "declining values" have impacted almost everything we buy. What we learned in Econ 101 still holds true: Lower the demand and you are going to lower the price, every single time.

And that thing called DEMAND? The best way to describe that right now is IN THE TOILET.

Who can "demand" anything when you are busy just trying to keep your head above water?

Dog paddle or die. That's the mantra of most consumers these days. Wallets are closed and shopping for sport is nearly dead.

And let's be honest. We can stimulate real estate buyers all we want, but until people start spending money on all the rest of the stuff out there, the economy will continue to tank.

Even those consumers who are swimming along with no problem are too afraid to take advantage of all the cheap, cheap stuff and bargain prices.

Has fear of drowning become a national obsession?

Cheap stocks. Cheap real estate. Going out of business sales. Cars sitting with thousands in rebates AND 0% financing.

We used to say cars that wouldn't sell "grew whiskers". Now there are cars with full beards sitting on dealership lots.

Your favorite restaurant sends you a "free lunch" coupon, but when you get there, they are out of business.

And 75% off is the new 25% off when it comes to buying clothes.

Still, we don't buy. It is called market mentality, and whether it is justified or not, you must understand it if you intend to be a seller in this economy.

If you are a seller of ANYTHING in this environment, what do you do?

You don't "start high"

You don't try to sell something that is dirty or needs repair

You don't expect to "sell quickly"

You understand that if you hold on for too long to get the "better price", you can shoot yourself in the foot.

You don't try to "do it yourself". You need professional help and marketing NOW more than you ever did before.

You don't take offense when your buyers low ball, or ask for a discount.

You don't cling to the idea that the price 6 months ago has anything to do with the price today.

You understand you must get over your emotional attachments to the thing you want to sell.

You make it EASY for a buyer to buy.

You show compassion.

Someday, sellers will rise up and once again, make all the rules. Until then, sellers must understand this: It is exhausting for buyers to constantly dog paddle. And scary. Even if it is in a sea of ridiculously low prices.

The water still seems awfully cold, and those lifeboats are taking FOREVER to arrive.

Written by Janet Guilbault, Mortgage Lending Expert Based Out of the San Francisco Bay Area

This Is You. This Is You On Paper (And You Just Got Shredded)

Fri, 06 Mar 2009 08:24:46 -0600

Great post that I'd like to share. I know far too many people with similar issues.

Via Janet Guilbault, California Mortgage Expert (RPM Mortgage):

Remember the old TV commercial that went like this:

This is your brain. This is your brain on drugs.

For those of you too young to remember this anti-drug TV spot, your brain on drugs is supposed to look like a fried egg on the sidewalk (not so subtle message of "you can fry your brains out if you take drugs").

But here's a newer version for you:

This is YOU: Good person. Good credit. Hard worker. Pays the bills. Pays taxes. Contributing member of society. Needs a mortgage.

This is YOU ON PAPER: Loser. Application declined. Next stop? Paper shredder.

How can you NOT take this personally?

Sometimes we forget this important fact: When the lender looks at your credit application, he only sees the PAPER YOU.

Not the REAL YOU.

It is distressing to me, that increasingly, the 2 "YOU's" are miles apart. Once stated income went away, all those holes in the lending world that stated income supposedly plugged, are gaping open again.

YOU: Are a respected, self employed business owner for 20 years. You make plenty of money to pay your bills and pay your mortgage. Your credit has been perfect your entire adult life. You are able to write off business expenses and losses against your business.

YOU ON PAPER: Don't show enough income to qualify.

YOU: Always have plenty of cash on hand to buy your friends a round of drinks. That's because you get much of your income from TIPS, and very little from your wages.

YOU ON PAPER: Have an income way too low to qualify.

YOU: Are the savior of your family. You take care of grandpa and in exchange, he makes your house payment and writes you a check for a small salary. You don't work because you take care of Grandpa.

YOU ON PAPER: Are unemployed.

YOU: Are a caring parent who lovingly co-signed to get your kid a car. Johnny was too embarrassed to tell you he was late on his payments 6 out of 12 months last year.

YOU ON PAPER: Have bad credit.

There is zero tolerance for lack of income and poor credit when making an application for a mortgage. As you do your taxes, and make financial decisions, remember this:

This is YOU. But the bank only cares about the YOU ON PAPER.

You don't want to fry your brains out just trying to get a mortgage.

Or in the shredder because you can't.

Written by Janet Guilbault, Mortgage Lending Specialist Based Out of the San Francisco Bay Area

Wordless Wednesday - "Thrill Ride"

Wed, 04 Mar 2009 16:10:19 -0600

Moving with a "CHILD WITH SPECIAL NEEDS " - Things to think about!

Wed, 04 Mar 2009 15:45:17 -0600

Families have different needs to consider when relocating, whether it is to or from Lancaster County. Some families have the added stress of finding just the right environment for their child with special needs. Here is some handy information to keep in mind, via Bridget Cella, e-Pro Realtor.

~ Jeannie Kontis, Lancaster Real Estate

Via Bridget Cella, e-Pro Realtor (Weichert Realtors):

Having children whith special needs is overwhelming in itself, now imaging moving them! Here is my first installation of advice for those who are helping these families!

Although, I think you will find that most families that have children with special needs do not take the thought of moving lightly. It can be a very long and drawn out process. There are so many things to consider and here are just a few:

Schools for "Special Needs" - or for older children and young adults with special needs "Medical Day Care" it is one of the most important components to consider.

When you are the guardian for a person with special needs you have many responsibilities, working is most likely still one of them. So who will care for your special someone when you are making the big bucks? Rest assured that most families have already done their homework in this area.

Even if the child or young adult is attending a "typical (public) school" as opposed to a Private Special Education Facility they all vary greatly from district to district. Much diligence is required to research each individual district and each individual school to find out their policies.

Family or Support - Moving towards family members or people who will be supporting them is very important.

Although you will find that most families are moving towards their support system, you will also find that Relocation will sometimes present the opposite for these families. Honestly, knowing many families who have children with special needs it would have to be a pretty darn good career move to uproot their child. Consistence is the key for all children with special needs. If a family has made the decision to make a move it came with many sleepless nights.

Medical Needs - There are many great hospitals in the United States today and most of them have specialties that draw people from all over the world to them.

With many diagnosis comes the need for constant medical follow up. Hospitals and medical professionals will be very high on the priority list when choosing a new home town.

People first language - This is very important!!!! Please take the time to read up on the proper use of language when you are speaking about a person with disabilities.

Here is a great website to reference

I currently have two children with unique or "special needs". One in each setting private and public schools. I would be happy to assist you with any questions you may have about the prospect of moving a family that includes a person with "special needs"

Kickin' it up in the Gourmet Kitchens of Lancaster County - Lancaster Real Estate style

Mon, 23 Feb 2009 21:51:20 -0600

While I was making dinner tonight, my mind started wandering (not unusual!) Actually, it started wandering before I started making dinner and while I was looking through the pantry and the freezer trying to decide what to make. I don't grocery shop much anymore since it's just the two of us at home. I've never liked grocery shopping, but I took pleasure in buying stuff and cooking favorite foods for my family to enjoy.

Shhh... If I play my cards right, i can pretend I can't find anything to cook and my husband will take over and make dinner instead!

So anyway, I'm putzing around in my kitchen and my mind starts to wander to some of the first meals that I used to make when I was first married. Oh my, they were quite a trip! Chicken Fingers were one of the few things I knew how to make, and so we ate them quite often. I think I might have even come close to poisoning ourselves once or twice, as I never realized that I should not "save and re-use" the leftover flour that I would dredge the raw chicken in...

So back to my story... about my mind wandering (sort of like this post)... I started to for some reason think of "gourmet" kitchens. And I wondered to myself:

"Self, just how many listings are on the MLS right now with the words "gourmet kitchen" in the descriptive remarks?"

So, while my Greek keftedes (meatballs) were cooking for dinner, I did a quick MLS search for "gourmet".

Now, "gourmet" can really be different in the eye of the beholder, can't it? I've had a number of homebuyers in the past who have indicated that a "great" kitchen is a "must have", but what someone considers a great kitchen, can be completely different from what others consider a "great kitchen".

What ever it means to you, below are homes for sale in Lancaster County that have "gourmet kitchens" according to the listing agent. Some are really pretty terrific looking, and the homes include are in various price ranges. The lowest priced one in the list is a Lancaster City home for $119,900 that has a surprisingly large kitchen, although I'm not sure I would call it a "gourmet" kitchen. Still, it was nice enough to include.

There were a number of homes that I did not include because their kitchens didn't look all that great, let alone "gourmet".

Click here to view Lancaster County homes for sale with Great Kitchens .

For more information on Lancaster PA Real Estate, or questions
about buying or selling Real Estate in Lancaster County PA,
please contact
Jeannie Kontis at (717) 330-5137
or email at Jeannie@JeannieSellsLancaster.com.

Search for Lancaster Homes for Sale at www.JeannieSellsLancaster.com

Jeannie Kontis, RealtorⓇ, is a member of the award-winning Bob Wells Realty Group of Long & Foster Lancaster Real Estate, Inc, and serves buyers and sellers of real estate throughout Lancaster County.
All content Copyright ⓒ 2009 Jeannie Kontis Homes in Lancaster PA - Real Estate in Lancaster County

Sunday musings of a Lancaster Real Estate agent

Sun, 22 Feb 2009 22:15:42 -0600

I had an enjoyable afternoon today showing homes (until I went to Panera's for lunch - that's another story) to a couple who are first time homebuyers. They've been sitting on the fence for a while - probably at least a year - but I think the new tax credit might have sparked their interest. They are finally out looking at homes and not just talking about it!

We saw a great Lancaster City home for sale, which had some fantastic features. Tall ceiling, gorgeious hardwood everywhere, an updated kitchen, pocket doors - you all know the type - a typical turn of the century Victorian in Lancaster City. It was really beautiful, and probably on the top of their list for now. It lacked a few things that they'd really like to have, and so I told them to take their time and think it over. There are things that you can change in some homes, and some things that you can't change. This home could not accomodate off-street parking, which would be important to them.

As a contrast, we took a look at a detached home for sale in Grandview Heights in Manheim Township. It was really in great shape and had a lot going for it ~ they just weren't "feeling" it like they did the old victorian. Clearly, there are huge differences in design, although this unique home was priced right and had a lot to offer for a tree-lined street along one of Manheim Township's favorite neighborhoods.

All in all, it was a great day ~ until lunch time at Panera's. Usually one of my favorite places to grab a "U Pick 2" for lunch, the poor girl at the order taking station must have been new at the job. She messed up the order of the people ahead of me. Messed up my husband's order - and messed up mine the worst! I take pity when it's a young person who is clearly new at their job, so I didn't make a stink about it. It was tasty, just not quite what I had ordered - a Smokehouse Turkey panini and a salad. Instead, I got a cold turkey sandwich. At least she got the salad right! The lady on line before me was making a big fuss - it just isn't worth the effort and I wouldn't let it ruin my day.

I came home to take a nice long afternoon nap on the couch with one of my favorite puppies.

A great way to wrap up a Sunday!

Frequently Asked Questions About the $8,000. Federal Tax Credit

Sat, 21 Feb 2009 20:44:11 -0600

Here is an easy to understand and to-the-point summary of the updated Housing Credit for first-time buyers. As always, I encourage anyone with detailed questions to contact their financial advisor.

Lancaster County has some excellent opportunities for first-time home buyers. Don't miss a great opportunity this year to seek a home and apply for the credit!

~ Jeannie Kontis, your Lancaster PA Real Estate Expert

Via Debe Maxwell 704.491.3310 Charlotte NC Real Estate (Helen Adams Realty):

Congress Approved the $8,000 Tax Credit For Homebuyers. Here are answers to frequently asked questions.

Frequently Asked Questions About the $8,000. Federal Tax Credit

Q:

A:
How much is the tax credit?

The tax credit would be $8,000 or 10% of the purchase price, whichever is less.

Q:

A:
Who is eligible?

Similar to the $7,500 tax credit included in the Housing and Economic Recovery Act of 2008, the $8,000 tax credit (included in the 2009 economic stimulus plan) is available for the purchase of the primary residence by first-time homebuyers.

Q:

A:
If this is for first-time homebuyers, how do I know if I am eligible for the tax credit?

According to the IRS, any taxpayer who has not owned a home during the 3 years prior to the date of purchase can qualify for the credit.

Q:

A:
Do I have to repay the $8,000.?

No. Unlike the previous $7,500 tax credit, the $8,000. does not have to be repaid UNLESS, the home is sold within three years of purchase; at that time, the credit will be reversed.

Q:

A:
Are there any income limitations on the tax credit?

Yes. The tax credit is strictly for individuals with adjusted gross income of under $75,000 or $150,000 for joint filers.

Now that you're qualified for the Tax Credit, let's go shopping for Charlotte NC homes for sale today!

About the author:

Debe Maxwell is a Charlotte Residential Real Estate Broker, Certified Neighborhood & Relocation Specialist, ABR & e-PRO who can assist you with the purchase and/or sale of real estate in the Charlotte NC Metro Area. If you're relocating to or from any other area of the country, Debe connects you with any member of her team of relocation professionals in your destination or exit city of choice. The destination service is of no cost to you! The Maxwell House Group's quality service guarantee puts this team far ahead of the competition; providing unsurpassed customer service is their #1 priority! Debe Maxwell -- Helen Adams Realty -- 704.491.3310

Copyright© 2009 By Debe Maxwell, All Rights Reserved...**$8,000 Federal Tax Credit FAQ **

Disclaimer: All information provided by this author is strictly an opinion, is not guaranteed, may be based on information collected from several sources, which may or may not be deemed reliable at the time of researching this article and may be time sensitive.

Are You an Enemy Agent?

Thu, 19 Feb 2009 20:51:22 -0600

Do you network with agents in your local area? I sure do! There is no better way to settle on a deal than to work opposite an agent you respect.

We don't have to be "competitors" -- I'd rather be "colleagues"!

Enjoy:

Via Tamara "The Real Estate Therapist" Dorris (Davis & Davis and Top Producing Techniques):

Today's interview with Steve Babbitt inspired something that is all but profound, and something we should all take to heart. To hear the full interview that's robust with nuggets you can take and bake today, click on the link below, but for now, let's focus on what I'm going to call your, "Other Agent Attitude."

When Steve and I first started talking about Facebook he mentioned some unheard of number (over a thousand) friends, and he proudly proclaimed they were mostly real estate agents.

HUH?

Why in the world would a real estate agent want to have so many connects with other real estate agents? And then he said something about local agents.

GASP!

So not only is he friends with more than a thousand agents around the world, but he's networking with local agents? Is there a method to his madness?

First, let's step back a bit. I recently read a blog where an agent was talking about the importance of networking and sharing ideas with other agents, as long as they didn't work in the same town as you. Words like, competition, greed, cut-throat come to mind. But is this true? Does it need to be?

Anyone who knows me knows that I'm a big proponent of mind-set management, and that means just what it sounds like it means; it's up to you how you look at the world, your business and your life. I wonder if there's any coincidence in that Smilin' Steve Babbitt has sold over 1,500 homes? Just saying. So before we look at the unimaginable benefits of befriending local agents, let's consider the fact that the way you look at something, changes the thing you look at. In other words, our minds and our universe tend to help us live in a perpetual state of a self-fulfilling prophecies. If you see other agents as the enemy, as an immediate threat, well, then don't be surprised when they sneak in a business card to your best friend. If that's how you see it, that's how it will play out.

Now enter Mr. Babbitt, Stage Left. Here's a guy who understands the power of networking with other agents. Forget the Facebook stats--this guy has served on more committees and boards than I can rattle off in one blog post. Here's a couple very powerful facts that Steve ran off that may change your "Other Agent Attitude."

First, agents like to do business with agents they like. As Steve said, "It's human nature." So two offers come in and you know and like one agent, and the other has a reputation for being an open-house-sign-stealer, who ya gonna call? I'm not trying to insinuate anyone would ever lead a seller toward a lesser offer, but that indeed, all things being equal, the agent will lean toward the agent he or she knows and likes, and might even express this to the seller. "Mr. Seller, these two offers are pretty similar. One thing I can tell you is that Agent Steve is an ethical agent who I've worked with before and he runs a clean deal."

Second, and these are in no particular order, I think ActiveRain has done a great job of demonstrating the deep down desire and longing for community belonging. Clearly, having others to share with and learn from is priceless, and those out of town referrals sure the heck never hurt anyone either. So why not local too? While the referrals might not be as frequent (but I have referred a commercial deal to a local agent and a listing too far away to another agent in my office), but what about the brainstorming and masterminding? Steve mentioned the all too sad fact that even if you had the best idea in the world, how many people do you think would really implement it? Not many. What about forming a partnership with someone in your office for just one farm area? You could share mailing costs and hit the streets together. It's much more fun to walk a neighborhood with a friend, trust me.

Third, and this is something Steve alluded to that I'd never even thought of (imagine that). If an agent who is held in high-esteem is at a listing appointment, why not incorporate the FACT that he/she is well thought of by fellow agents,,,,then talk about the First fact above. "Mrs. Seller, agents like to work with agents they know are honest, ethical and fair, and, they like to show properties listed by those same kind of agents. I think if you ask around, check my involvement with our local association, you will find that I am one of those agents who is highly respected in this town."

Those are just three good ideas, but I bet you can think of more. Like, for instance, long-lasting friendships, getting voted into leadership with your local, state or national association, and then, there's that whole good karma thing I'm so big on. The idea is not to immediately eliminate "The Other Agent Attitude" but instead adopt an attitude of gratitude that you are in an industry with so many people willing to help and befriend you. It's called "Creative Collaboration" not competition. And any competing should be be done in the spirit of fun...there really is plenty to go around...we just have to go get it.

The deals fall to him (or her) who attract them through proper mind-set and attitude, CONSISTENT, POSITIVE ACTION, and good old fashion competency. So don't be a secret agent. Don't sit and whine about the market. Get together with some fellow agents and have coffee and mastermind...add agent friends on Facebook, and go to an association function every now and then. Be the agent with the right attitude, and watch the good time roll.

Listen to Steve:

Thanks!

Tamara

Tax Credits - Energy Credits and KOZ Business Credits for Pennsylvania

Thu, 19 Feb 2009 20:04:03 -0600

I received a very informative newsletter from my accountant's office today, and I thought I would pick out a few highlights of the AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009 a.k.a - the Bail Out.

Personally, I was a bit surprised and I have to admit, impressed, with some of the credits that have been increased or extended for both, individuals and businesses.

Here are a few of the highlights that are beneficial (hopefully) to current and future homeowners:

First-Time Homebuyer Tax Credit

The First-Time Homebuyer Tax Credit increases to a maximum of $8,000, eliminating any payback after living in the home 36 months. This will apply to first-time homebuyer purchases of a principal residence from January 1, 2009 through December 31, 2009.

The credit begins to phase-out when AGI exceeds $75,000 ($150,000 for joint filers).

This applies only to homes purchased after December 31, 2008. Homes purchased earlier than 2009 will be governed by the original first-time homebuyer credit with full payback with a maximum credit of $7,500.

Residential Energy Property Credit - This is great for those looking to improve their current homes, or for those who are purchasing a bit of a fixer-upper:

The agreement increases the residential energy property tax credit from 10% to 30%, and raises the maximum cap to an aggregate of $1,500 for installations during 2009 and 2010. If you made qualifying improvement in 2009 - keep track of this!

Eligible improvements include

insulation,
exterior windows and doors,
central air conditioners,
natural gas, propane or oil water heaters or furnaces,
hot water boilers,
electric heat pumps & water heaters,
metal roofs,
and advanced main air circulating fans.

Pre-2008 credits are not counted toward the $1,500 maximum.

Residential Energy Efficient Property Credit - GO GREEN, IT PAYS OFF!

The credit cap is removed for residential energy efficient solar hot water property, geothermal heat pumps, and wind energy property!

FOR BUSINESSES WHO ARE LOOKING TO EXPAND AND BUILD NEW OPERATIONS - CONSIDER A "KOZ":

SALES AND USE TAX EXEMPTION FOR KEYSTONE OPPORTUNITY ZONE BUSINESSES

Pennsylvania has expanded the sales and use tax exemption for businesses constructing in a Keystone Opportunity Zone. According to Pennsylvania Senate Bill 1412, a business may purchase services or tangible personal property, other than motor vehicles, exempt from sales and use tax if these items are purchased for the exclusive use, consumption, or utilization at a facility located within a Keystone Opportunity Zone (KOZ) or a Keystone Opportunity Expansion Zone (KOEZ).

In June 2008, the Pennsylvania Senate signed an amended Senate Bill 1412 to include certain purchases of services or tangible personal property by construction contractors for use in a construction contract with a qualified KOZ business, landowner, or lessee. However, this bill was not effective until September 2008. In order for a qualified contractor to take advantage of this exemption, the construction contract with the eligible KOZ business, landowner, or lessee must be dated on or after September 8, 2008. This expansion of the sales and use tax exemption will apply to any qualified purchases made by a general contractor or subcontractor.

Keystone Opportunity Zones and Keystone Opportunity Expansion Zones are selected underdeveloped and underutilized commercial or industrial properties which provide little to no tax burden to businesses who develop in those areas. These zones were enacted to help promote economic growth and development in those selected areas. There are currently 12 Keystone Opportunity Zones located in Pennsylvania.

--------------------

For more information on Lancaster PA Real Estate, or questions
about buying or selling a home in Lancaster County PA,
please contact
Jeannie Kontis at (717) 330-5137
or email at Jeannie@JeannieSellsLancaster.com.

Search for Lancaster Homes for Sale at www.JeannieSellsLancaster.com

Jeannie Kontis, RealtorⓇ, is a member of the award-winning Bob Wells Realty Group of Long & Foster Lancaster Real Estate, Inc, and serves buyers and sellers of real estate throughout Lancaster County.

Manheim Township Home for Sale - Private corner lot, tree-lined street

Tue, 17 Feb 2009 08:59:17 -0600

Lancaster PA Real Estate - Manheim Township Home for Sale - 4 BR

Brought to you by Jeannie Kontis, Realtor (717)330-5137
Search all Lancaster County PA Homes for Sale at www.JeannieSellsLancaster.com

1841 AMITY DRIVE
Manheim Township
List Number: 140215
List Price: 270,000
Total Bedrooms: 4
Total Bathrooms: 3

Larger than it looks! This 4-level split with hardwood floors features 3 Bedrooms on the upper level and a 4th Bedroom (possible 5th) in the walk-out lower level. Ideal for use as an in-law with a separate entrance, the home also includes a large detached 2-car garage with loft/den with stone hearth fireplace, separate entrance and 1/2 bath. Ideal for in-home business or in-law suite, as well as car buffs or contractors. The enormous kitchen includes an island, sunny breakfast nook and ceramic tile throughout.

Enhanced outdoor living and entertaining is enjoyed on the private covered deck.

Located in the heart of Manheim Township, this home is ideally located near schools, places of worship, shops and all major roads.

Contact: Jeannie Kontis, Realtor

108 Foxshire Drive
Lancaster, PA 17601
kontishomes@aol.com

Agricultural Land - Commercial Land - Automotive Use - Manheim Auto Auction

Tue, 17 Feb 2009 08:55:55 -0600

Lancaster PA Real Estate - Commercial or Farm House on 23 Acres, Manheim PA

Brought to you by Jeannie Kontis, Realtor (717)330-5137
Search all Lancaster MLS Listings at www.JeannieSellsLancaster.com

or www.BobWellsRealtyGroup.com

673 AUCTION ROAD MANHEIM, PA 17545
MLS #142855

House & barns and 23 acres for sale. Use for storage business (exterior and 25k sq ft under roof); rent house, timber, subdivide. Utilities & appliances all new; Bio fuel set up; each commercial space has separate heat, exhaust, security, & metering. Open to Creative Financing.

For more information on Lancaster PA Real Estate, or questions
about buying or selling Commercial or Residential Real Estate in Lancaster County PA,
please contact
Jeannie Kontis at (717) 330-5137
or email at Jeannie@JeannieSellsLancaster.com.

Search for Lancaster Homes for Sale at www.JeannieSellsLancaster.com

Jeannie Kontis, RealtorⓇ, is a member of the award-winning Bob Wells Realty Group of Long & Foster Lancaster Real Estate, Inc, and serves buyers and sellers of real estate throughout Lancaster County.

Downsizing your business? Consider this affordable Space for Lease

Tue, 17 Feb 2009 08:52:35 -0600

Lebanon County - Office, Commercial, Retail -- Space for Lease, Security, On Site Parking

Commercial Office/Retail Space for Lease - Busy Intersection, High Visibility, Signage

546 S Ninth Street (on Rte 72) -- LEBANON COUNTY
Square Footage: approx. 600 SF each -- 2 spaces available

$575 each, or both for $1,000 monthly

Available: Immediately

Commercial Office/Retail space for lease in a highly visible location. Corner of Rte 72 at a 5-way intersection, across from Quality Inn at the gateway to Lebanon City.

2 Spaces each almost 600 SF, security system, shared vestibule. Take one or take both. Each space is $575; or use both for your growing business for a discounted rate of $1,000 per month.

Building is a mix of residential and office/commercial. Other businesses include a Bank and a Real Estate Office. Ideal location for a title company, insurance, medical, etc.

On-site parking; no CAM fee; rent includes water/sewer/trash/snow/mow

Contact:

Jeannie Kontis, Long & Foster RE

717-330-5137

Does "As Is" Mean I Can't Have an Inspection when I Buy a House?

Mon, 16 Feb 2009 21:20:01 -0600

So many times in today's market we are seeing the words "Being Sold AS-IS". What does that mean exactly? Christine Donovan has a great answer for that question, which can scare off a number of potential buyers (and probably agents, too!).

As Christine explains below, buying a home that is listed "As Is" does not mean that you can't have a home inspection. You can! Continue reading....

Via Christine Donovan Costa Mesa Real Estate (Broker/Attorney) 800-610-7253 (Donovan Blatt Team - Donovan Group Realty):

If it says the home is sold "as is", does the buyer have to buy it without knowing what's really wrong with the home?

The terms "as is" is found in many listings these days, especially on REO/bank owned homes and short sales.

Many in the real estate industry may think this is pretty standard language, but I have had more than one client ask me if this means that they can't have an inspection done on the house.

Their concern is that after viewing the home one or maybe two times without professional assistance they have to make a decision whether or not they should buy the home and be willing to accept it "as is."

I have explained to them that this is not the case.

Provided that the proper, and usual, contingencies are in the purchase contact, the buyer has the right to have inspections done of the home. If after the inspections are completed, the buyer has the right to ask for repairs (provided the request is made within the contingency period - usually 17 days here in Orange County) and decide not to buy the home if the repair request is denied.

In today's market, most banks will not do repairs on REOs or short sales. Therefore, these homes are sold "as is", and usually a buyer will have to decide after the inspection is done whether or not they still want to buy the home.

So, yes, you may have to buy the home "as is", but you will get to make this decision after you have had inspections done on the home.

If you have any other questions or concerns about the buying process, please call me at 714-319-9751 or see the following articles for additional information.

What is a short sale?

Buyers 101

Multiple Offers in a Buyers' Market

Buying a Foreclosure - Where do I Start?

*****************************************************************************

About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.

For more information on Costa Mesa homes or the value of a particular home please visit Costa Mesa home values

Click for a free list of Orange County foreclosures or a free list of Orange County short sales or e-mail Me!

Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? Contact me at christine@donovanblatt.com or 714-319-9751 to discuss your options.

Want to buy a home or to list your property for sale in Newport Beach, Costa Mesa, Huntington Beach or Orange County? Contact me at christine@donovanblatt.com or 714-319-9751 to learn about her system which will make your buying and selling experience easier.

Click Orange County homes for saleto view all OC homes for sale. Copyright © 2009 by Christine Donovan, All Rights Reserved. Does "As Is" Mean I Can't Have an Inspection when I Buy a House?

Shop for bargains and support Habitat for Humanity

Fri, 13 Feb 2009 16:37:01 -0600

Via Susan Mangigian, West Chester PA Realtor RE/MAX Preferred, ABR (RE/MAX Preferred, West Chester, PA, RS152252A):

I was reading an article in the Country Living Magazine and came across something I wasn't aware of.

Habitat for Humanity has over 500 salvage and resale shops in the country. These resale shops stock everything from gently used appliances and surplus tile to new flooring and cabinetry, sold at a fraction of the normal price. According to the article in Country Living, all are donated by local citizens and businesses.

To visit a Habitat Restore, go to www.habitat.org and click on Restore. From there you can find a Habitat Restore near you. Because these kinds of thing are hit or miss, visit often! Proceeds from ReStores, help local affiliates fund the construction of Habitat houses within the community.

Below are the locations in located in or near Chester County. Happy Shopping!

Coatesville

Chester Co Restore, 1853 E Lincoln Hwy Coatesville, PA 19320 Phone: (610) 466-1890

Lancaster, 155 Independence Ct
Lancaster, PA 17601 Phone: (717) 293-0250



Reading-Berks ReStore

336 S 18th St Reading, PA 19602 Phone: (610) 373-3439 jkocet@rbhabitat.org

York

235 N Beaver St
York, PA 17404 Phone: (717) 852-7574

Is your heart big enough for two? Adoption fees waived for these pairs at the Humane League.

Thu, 12 Feb 2009 21:31:07 -0600

It's almost Valentine's Day! Is your heart big enough for two?

Having two doggies that are so used to each other, and don't do well when they are separated, I know what the situation below is like. My two will cry and bark and search for each other if they are separated.

The Humane League of Lancaster County recently received not one, but TWO sets of co-dependant dogs. Each of these surrenders was because their family could no longer afford to take care of them ~ another pitfall of today's economic stress.

If you are looking for a dog ~ please consider taking in one of these pairs. They must be adopted together, as they have lived together all of their lives. They are older dogs, ideal for someone who does not have the patience or time to housebreak or entertain a young puppy. They will be ideal companions.

What's the bonus besides unconditional love from a furry friend? The Humane League is waiving their adoption fee for these pairs of dogs. What a sweetheart of a deal!

Stimulus Watch

Wed, 11 Feb 2009 08:52:39 -0600

Courtesy of Maureen McCabe in Columbus Ohio, the information below leads to a great site where you can see what Stimulus projects are proposed for Pennsylvania, including the Lancaster area.

To view the PA information directly, go to: http://www.stimuluswatch.org/project/by_state/PA&per_page=

I was pretty impressed with some of the Harrisburg projects, but disappointed in what Lancaster has on the table. View the site yourselves, and vote on what you feel is important (or not).

Via Maureen McCabe - Central OH homes (Real Living HER - Worthington office):

Do you know what projects your community / state has proposed for the US Stimulus Plan? Do you know what each is projected to cost? How many jobs they will create? How much they will cost?

Stimulus Watch

How to use the site - video the Vimeo site says "Want to learn how to contribute to StimulusWatch.org? This video walks you through all the features of the site."

The video tells you how to add info to the wiki. Your contributions to Stimulus Watch can show up on your Facebook page, if you want.

Location Location Location

There are three ways to search but Browse by State / City is bound to be the most popular.

I wrote about Columbus Projects - Stimulus Watch on my ColumbusBestBlog.com

Ohio Projects I asked on my blog why Cleveland is NOT on the Ohio list and later found my answer on the FAQ. The list comes from Main Street Economic Recovery from the U.S. Conference of Mayors

Stimulus Watch says of the Wiki

"Below are the "shovel-ready" projects for which this city has requested federal stimulus funding. You can click on a project to read (and add to) its description. You can also discuss the project and vote on whether you believe it is critical or not."

Want to vote on what is important in your community or debate the projects on the list? Visit Stimulus Watch.

Thanks to Columbus blogger Jody Dzuranin who tweets as @jodyNcolumbus for bringing the site to my attention. Columbus OH North Corridor Light Rail System

Airport Road sprouts a new Green building

Wed, 11 Feb 2009 08:33:29 -0600

By the end of the year, folks driving to the Lancaster Airport might be saying:

"Look, it's a bird! It's a plane! No... its the new Garber Scale and Calibration building!"

Manheim Township commissioners this week approved plans for the new $3.5 million multi-use facility that Garber Scale plans on building on Airport Road.

Why is this a big deal?

It shows that forward-thinking businesses are still pushing ahead in this economy. It also is a great example of how new construction, even in commercial and industrial zones such as this, can be environmentally friendly while taking advantage of the best use of land.

Garber Scale's new facility will include environmentally-friendly features such as:

geothermal heating,
waterless urinals (not really sure how that works!)
a white roof and
office space filled with natural light,
as well as additional other green features.

A portion of the building will include self-storage facilities for rent, as well as additional office space for lease.

Employees will enjoy the roof-top views from the verandas, a perfect spot to watch the take-offs and landings from the nearby airport, or can use the employee exercise room and lounge.

While other firms are looking at layoffs and are closing facilities, it's exciting to see a local company include environmentally friendly features as they grown their business outlook.

Housing Stimulus Plan from the National Association of Realtors - who to contact and how

Mon, 09 Feb 2009 17:11:18 -0600

This is directly from the NAR Realtor Action Center.
Click on the link to send a quick message to your Congressperson and Senator.
For once, I think NAR is on to something. http://takeaction.realtoractioncenter.com/campaign/2009stimulus?qp_source=actionmargin

NAR's Housing Stimulus Plan

Our nation is facing an unprecedented lack of liquidity throughout every sector of the economy. This has placed insurmountable barriers in the path of too many homeowners wishing to avoid foreclosure and save their home and home buyers wishing to take advantage of the low mortgage rate environment and realize the American dream of owning a home. The NATIONAL ASSOCIATION OF REALTORS® believes it is imperative that Congress take action and restore consumer confidence in homeownership. We are calling on Congress to enact measures that address foreclosures, stabilize housing and real estate, energize credit markets, restore bank lending capacity and revitalize the economy.

Make the $7500 first-time homebuyer tax credit available to all buyers, eliminate the repayment requirements and extend the credit to December 31, 2009. In July 2008 Congress passed legislation creating a refundable tax credit for first-time homebuyers. The $7500 credit is in effect for purchases between April 9, 2008 and July 1, 2009. Consumers have shown little interest in the credit, in large part because it is not available to all purchasers and because, unlike other credits, this tax credit must be repaid.

Restore the FHA, Fannie Mae and Freddie Mac maximum loan limits to $729,750 and make them permanent. The economic stimulus loan limits for Freddie Mac, Fannie Mae and FHA expired on December 31, 2008. As a result, the maximum limit for Fannie Mae, Freddie Mac and FHA dropped from $729,750 to $625,500. Returning these limits to their 2008 levels and making them permanent will strengthen the availability of mortgage credit and expand mortgage affordability in a time when home sales and refinance activity are necessary to stabilize the housing market and move the broader economy towards recovery. This will also assure that a wide range of borrowers have access to fair and affordable mortgages.

Get Treasury’s Troubled Asset Relief Program (TARP) back on track and target more funds to mortgage relief. Create a federal mortgage interest buy-down program to bring down interest rate spreads to historical averages and reduce mortgage interest rates. It is crucial that the government continue its actions to bring down interest rate spreads between mortgage and Treasury rates to historical norms which will significantly reduce mortgage interest rates. Recent actions by the Federal Reserve and the Treasury are making mortgage interest rates more affordable. Mortgage rates are near 50-year lows but the spread between mortgage rates and Treasury rates are abnormally high. If rates drop in line with historic trends, home sales could rise nationally by 10 to 15 percent and stabilize prices in many parts of the country. While this is a good boost, mortgages need to be more attainable. There continues to be continuing problems impeding the delivery of mortgage credit to home buyers and those trying to avoid foreclosure. The federal government must step in and address these problems. Corrective actions that NAR is advocating include:

The Treasury Department should provide additional TARP funds to make added loans for housing, establish foreclosure prevention programs, modify more mortgage loans to prevent foreclosures to the maximum extent possible, establish an efficient and effective short sales process, or a combination of these activities.

All mortgage lenders, their servicers, Fannie Mae and Freddie Mac, and investors in mortgage assets should adopt and implement aggressive policies that result in more mortgage loan modifications to prevent as many foreclosures as possible. Where sustaining homeownership is not possible, these entities should facilitate short sales that will benefit all parties.

Mortgage lenders and private mortgage insurers should (1) reexamine underwriting standards to determine whether they have over-corrected in response to abuses in the mortgage market, and (2) remove unnecessarily strict underwriting standards (such as requiring excessively high credit scores that result in qualified borrowers being arbitrarily denied a loan).

Consumer reporting agencies (credit bureaus) should improve compliance with the Fair Credit Act, including prompt responses to consumers who seek to correct files and errors.

The FHA should make investors eligible to participate in its Section 203(k) Rehabilitation Loan Program to help dispose of large numbers of vacant foreclosed properties for rehabilitation and conversion to homeownership. Additionally, Fannie Mae and Freddie Mac should increase their selling guide ceilings on investor loans to facilitate investor participation in the housing recovery.

Congress should oppose the imposition of fees or increased fees by Fannie Mae and Freddie Mac that translate into major new costs on homebuyers and homeowners seeking fair and affordable mortgage loans.

FHASecure, which helped more than 450,000 families modify their mortgages and stay in their homes before it was sunset, should be reinstated. In addition, reforms to the Hope for Homeowners program should be made to increase its efficiency and effectiveness.

Q: A:	How much is the tax credit? The tax credit would be $8,000 or 10% of the purchase price, whichever is less.
Q: A:	Who is eligible? Similar to the $7,500 tax credit included in the Housing and Economic Recovery Act of 2008, the $8,000 tax credit (included in the 2009 economic stimulus plan) is available for the purchase of the primary residence by first-time homebuyers.
Q: A:	If this is for first-time homebuyers, how do I know if I am eligible for the tax credit? According to the IRS, any taxpayer who has not owned a home during the 3 years prior to the date of purchase can qualify for the credit.
Q: A:	Do I have to repay the $8,000.? No. Unlike the previous $7,500 tax credit, the $8,000. does not have to be repaid UNLESS, the home is sold within three years of purchase; at that time, the credit will be reversed.
Q: A:	Are there any income limitations on the tax credit? Yes. The tax credit is strictly for individuals with adjusted gross income of under $75,000 or $150,000 for joint filers.