Real Estate Blog - First Time Buyers and Distressed Home Sellers -- info you can use

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First Time Buyers and Distressed Home Sellers -- info you can use

Part of my outreach and Client Appreciation Program (CAP) per Working by Referral (Brian Buffini) to clients and associates is to send them an Item of Value.

This time, I digressed from the original and proposed letter, and created one that I felt was pertinent today. Here's what I am getting ready to mail. The difference is that on Active Rain, I am providing links.

CAP Item of Value

This real estate market continues to surprise us: rates are very low, and home prices are finally near "the bottom." The opportunities are still very much right there. And conditions are evolving. There are now several new programs to help both Buyers and Sellers.

Buyers

First Time Buyer Tax Credit of $8,000. Eligible buyer with an FHA loan can apply the credit toward closing costs and as an additional (but not THE down payment)
California NEW Home Tax Credit up to $10,000
Energy Efficiency Tax Credit up to $1,500
California Mortgage Protection. Eligible first time buyers who lose their jobs may receive up to $1,500 per month, for six months, to help make their mortgage payments.

Sellers

Foreclosures Alternative Program. Eligible distressed home sellers may receive up to $1,500 for relocation expenses up to $1,000 to pay junior lien holders to release liens
Mortgage Debt Forgiveness Relief Act of 2007.

Owning a home is a privilege and a dream for many of us. To achieve that dream now, we must strive not only to protect, but also to improve our credit rating simply to qualify for a home loan. This is the subject of this month's Client Appreciation Item of Value enclosed.

Effects of Short Sales Versus Foreclosures

There are various blogs and articles about the effects of short sales versus foreclosure. But the best one I've seen is a matrix produced by Distressed Property Institute and I've seen that matrix reproduced in so many places. If you google specific phrases or sentences from that matrix, you'll see a ton of sites that feature this matrix.

For example, google "A homeowner who successfully negotiates and closes a short sale will be eligible for a Fannie Mae backed mortgage only after 2 years" and count how many sites have this matrix.

TAX CREDITS for ENERGY EFFICIENCY. More good news for home buyers and home owners!

BULLET POINTS for homewners contemplating a short sale

When is it too late to save a home from foreclosure? What NOT to do if owner wants to keep the house

Posted by Pacita Dimacali - e-PRO, SRES, CDPE, MBA East Bay, North CA real estate on 06/09/2009 06:09 PM

Comments (2)

First Time Buyers and Distressed Home Sellers in the ActiveRain Channel

first time buyers, distressed home seller, short sale, foreclosure, effects of short sale versus foreclosure, tax credits

Originally posted at: Pacita's Quick Bytes of Real Estate: First Time Buyers and Distressed Home Sellers -- info you can use

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2 Comments on First Time Buyers and Distressed Home Sellers -- info you can use

JUN

Without our SOI we would be SOL...be in touch, stay in touch, keep in touch...it works...over and over...good blog ...send us some sunshine !

JUN

Sally and David

The CAP items are a good way to stay in touch and also be top of mind. This year, thus far, I've had potential and now clients call me after two years since I met with them. One couple just closed on a house. Another couple is in escrow on a triplex. A woman and her daughter listed a house with me. Then I had a couple come see me for help with their loan modification. I closed (double ended) on a house, and my seller is actively looking to buy.

So yes....it pays to stay in touch the old fashioned way.

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