Highlights:

• $8,000 for first-timers signing contracts through April 30, 2010 and closing by June 30, 2010.

• $6,500 for repeat buyers who have "lived in their current residence for five consecutive years out of the last eight

Individual tax filers making no more than $125,000 and joint filers making no more than $225,000 could take the full credit, a significant increase of the income cap. The credit would decrease in value for people making more than those amounts.

• If the home you're buying is priced over $800,000 sorry, you won't qualify!

If you're a first-timer hoping to take advantage of the higher income limits, keep in mind that the same timeline applies.

A week earlier, U.S. Department of Housing and Urban Development Secretary Shaun Donovan had told the National Association of Home Builders that HUD would let banks and local governments offer short-term "bridge loans" to cover the down payment for first-time buyers eligible for the tax credit. The loans would have been available to applicants for federally insured mortgages such as Federal Housing Administration loans.Lenders, home builders and real- estate agents had reacted favorably to the bridge-loan proposal, saying it would open up the housing market to more first-time buyers. The loans also could have created income-tax issues, according to the IRS officials who shot down HUD's plan.

If you do buy a home this year by Nov, 30 2009 you will be eligible up to $8,000.00 tax credit.  Please go to the following link to see all the eligibility requirements.

http://www.irs.gov/newsroom/article/0,,id=206293,00.html

First time home buyers don't miss out on your tax credit up to $8,000.00

The Washington State legislature has passed a "Tax Credit Advance Loan Program".  This program which is intended to help first time home buyers in the State of Washington will be the first of its kind in the nation!  The program will give short term loans up to $8,000.00 for first-time home buyers that qualify.  The money can then be used to fund first-time home buyers at the close of a home sale for a down payment or closing costs.

These down payment loans would help open the door to home ownership for many hardworking families that want to own their own home.  With historically low interest rates and the lower home prices now available, families in Washington that have found it difficult afford a home may now be qualified! 

Buyers will pay back their loan when they receive their federal income tax refund. The Tax Credit Advance Loan Program will help up to 9000 first-time homebuyers. The availability of the short term loans will expire at the same time as the federal tax credit, on November 30, 2009.

Don't miss out on the $8,000 first time home buyer tax credit the opportunity will only be available for a limited time.  

Call (425) 210-6513 for more information and how to qualify!

Susan Waiste    Associate Broker, EcoBroker & REALTOR

John L. Scott, Mon

susanwa@johnlscott.com

www.homesitetours.com/1st-time-home-buyer-down-payment-help.html

Want to find out what your home value is in today's market, but don't want to pay for a full appraisal?

Call your real estate agent and ask for a free home value report.  You can't use it as an actual appraisal, but it should give a good indication of what your home value is currently. Most real estate agents will do this for free if they have worked with you previously. 

If you need the most accurate up to date report you need to contact a reputable Real Estate Appraiser.  Most Appraisals cost upwards of $400.00 + but are worth every penny if you really need to accurately pricing on what a bank/lender would appraise your home for refinancing purposes or for a home that is going through a short sale.

Wikipedia definition:  Short sale (real estate) - the lender allows a property to be sold for less than the amount owed on a mortgage and takes a loss.

If you need an excellent Real Estate Appraiser contact:

Jack Wall (360) 794-7119 or 888-867-5719                                                                               Country Town Appraisal (State Certified)    Servering: King, Snohomish, Skagit Counties for 31 Years.

FYI:  Jack just informed me that if you have a home with a Snohomish address, the market has actually gone up 7.6% over the last three months.

Call me if you would like a Free Home Market Value on your Snohomish County Home.  425-210-6513

• Snohomish County Short Sales and Home Foreclosure Information
• Are you one of the many home owners who find themselves worried about losing your home?
• Are you worried that what you paid for your home a few short years ago is now lower than what your mortgage is if you needed to sell?
• Has your job come into jeopardy of up coming layoffs?
• Are you already behind or struggling to make your mortgage payment?

Snohomish County residents are worried about how the down turn in the real estate market is affecting them on a personal level.  There are so many scenarios playing out as the market affects each individual differently.  Information that the media sends out is confusing even for professionals.

So, what is a confused homeowner to do?  If you are already falling behind on your mortgage, contact your lender and a good Real Estate Attorney immediately.  I am including an Attorney in Everett that specializes in Real Estate transaction and Home foreclosures and short sales.

Jamie Jensen, Attorney  (425) 258-2688

Jelsing, Tri, West and Andrus

2926 Colby Avenue  Everett WA, 98207

Tell Jamie that Susan Waiste from John L. Scott referred you and he will give you a free phone consultation.  Jamie specializes in Real Estate Law and is an authority with an excellent reputation.

I hope you find this information valuable.  Please call if you need any other information or would like to find the current market value on your Snohomish County home.

Short Sale Tips

(Requirements may vary depending on the lender)

•·    Cover Letter - prepared by Real Estate Professional

•·    Authorization to Release Information - signed by Borrower

•·    Seller's Hardship Letter - prepared by Seller

•·    Seller's Financial Statement - Form 1126 Borrower's Financial Information   http://www.freddiemac.com/sell/forms/pdf/1126.pdf

•·    2 Years W2 Forms - provided by Seller

•·    2 Month's Pay Stubs - provided by Seller

•·    2 Month's Bank Statements - provided by Seller

•·    Supporting Hardship Information - provided by Seller
(HOA liens, medical/disability statements, prior income proof, prior tax returns, etc.)

•·    Repair Estimate for the property if needed - prepared by Real Estate Professional

•·    Comparable Sales - prepared by Real Estate Professional

•·    Listing or Purchase Contract - provided by Real Estate Professional

•·    Net Sheet - prepared by Escrow Closer with Pre-title & Escrow setup.

•·    Payoff amounts from additional mortgages - provided by Seller

•·    Preliminary Title Report - obtained from Title within 24 hours. (please specify short sale)

•·    Lender Specific Forms - contact Lender for additional forms they require.

The Treasury Department is considering a plan to purchase mortgage-backed securities in the hopes of driving mortgage rates to as low as 4.5%.   Interest rates at 4.5% would help homeowners and buyers with good credit, but would do little for troubled borrowers.

 To read the entire story:

http://money.cnn.com/2008/12/03/news/economy/treasury_mortgage_rates/index.htm?postversion=2008120319

Iimmaculate rambler with 3 bedrooms and 2 baths attached garage with driveway parking. Oak kitchen cabinets with breakfast bar counter, also a great pantry. Informal dining room with slider access to fully fenced backyard. Enjoy your own BBQ's and privacy.

Your own gas fireplace makes this well lit living room warm and cozy! The great master Suite has its own full bath off of it. There are two other bedrooms that share the second full bath. Don't for get to check out laundry room, also, the studio office has its own exterior access and was the original owners hair salon. (was professional built) **Bonus across the street is a Community Park & walking trails. Close to 522 & Hwy 2 with easy commute to eastside or Everett!

TO View More Photos go to: http://www.johnlscott.com/61127

Schedule a home viewing: Contact: Susan Waiste John L. Scott, Mon 425.210.6513

http://www.homesitetours.com/15530-esther-ave-monroe-WA-98272.htm

Green Home Fact

When was the first green building built?

Anasazi Indians who lived in the Four Corners region of the USA, built apartment style housing villages.  Their buildings included multi-room dwellings of stone masonry.  Why were these considered green?

• Anasazi oriented their dwellings to the light, were heated using passive solar heating and their buildings featuring natural ventilation for cooling.
• Rainwater was captured for irrigation and personal use.
• Natural stone, mud, and wood were the only materials used.
• The buildings were completely non-toxic and healthy.
• Anasazi village concept in how they built created close community interaction.