First Time Buyers - Some Gentle Encouragement and Some Possible Properties

By
Real Estate Agent with RE/MAX Commonwealth

Folks that follow my blog (hi Mom!) know that I have posted in the past about the first-time home buyer tax credit.  The credit gives eligible individuals $8,000 in a bottom line CREDIT on your 2009 tax return.  In fact, you can even amend the 2008 tax return to get that money sooner. 

I've continued to hit this topic ad nauseaum because many people do not seem to know that the credit expires November 30, 2009.  What that means is any eligible first-time home buyer must have CLOSED on the purchase of a home by November 30, 2009 in order to  receive what is basically free money from the federal government.

Practically, what that means is you need to have a house under contract by no later than September 30, 2009, IMHO, to give yourself enough time to clear all contingencies, finalize financing, and close and record the Deed by November 30, 2009.  That date is pretty fast approaching, so if you know you want to buy, but you've been putting it off, get out there and start looking NOW.

If you need some ideas, here are a few different listings of mine that might fit the bill [:)]:

SINGLE FAMILY HOMES:

1.  806 S. Meadow Street:  In the Byrd Park/Maymont area,this 4 bedroom, 1.5 bath stucco and slate home has a superstar kitchen with new cabinets, ceramic tile floor, Zodiac quartz counters, and pass-through to the living room.  There is a "man cave" basement with loads of potential, and a great yard and garage.  MLS #2917551.  Offered at $209,000.

2.  604 N. 30th Street:  Located in Church Hill, this 3 bedroom, 2.5 bath home is BRAND NEW, with off-street parking, a full front porch, the open plan living area + kitchen that people want, and three spacious bedrooms upstairs.  The master suite has a walk-in closet, a separate shower and jetted tub, and a double vanity with granite counter.  MLS #2916489.  Offered at $239,500.

CONDOMINIUMS:

3.  Windsor Court Condominiums, 1608-1614 Grove Avenue:  Located in the Historic Fan District, this 3 building, 24-unit Neoclassical complex has been COMPLETELY renovated, with new ceramic and granite kitchens with stainless steel appliances, new bathrooms, refinished hardwood floors, and dedicated off-street parking.  Come see one of the most beautiful common areas in the Fan.  Walk to restaurants, stores, parks, and VCU.  Offered at $194,900-$234,900.

More to come shortly...

Comments (2)

Douglas Fischer
East Oahu Realty - Selling Honolulu, Hawaii Condos - Honolulu, HI

It's scarey out there for first time home buyers.  Our job is to educate our clients.  In addition, I do my best to show my clients how and why certain homes are real bargains, in addition to the value of the first time home buyer credit and historically low interest rates.  Show them a little math and they will quickly gain confidence.

Aug 26, 2009 07:42 AM
Melissa Loughridge Savenko
RE/MAX Commonwealth - Richmond, VA

I agree it's scary for buyers, and it is absolutely our job to educate them on the value of homeownership.  And I understand that the volatility of the job market is causing LOTS of people to stay on the sidelines.  I just want to encourage those people who fully expect to buy a home, AND are capable of doing so, to get off the sidelines sooner rather than later, if they want to take advantage of the $8,000 tax credit.  I wonder if you are seeing the same thing in Honolulu that we are seeing here:  EVERY step of the process is taking longer, from appraisals to inspections to financing.  So I don't want my clients to miss the boat because December 1 seems a long time away.

Thanks for your comment - you were my 100TH COMMENTER!  Yea!

Aug 26, 2009 08:21 AM