March 8, 2010:
Good morning every body. Sorry it has taken me so long to post my first blog. I assume your Mondays are hectic as well. It was a busy week-end and some parts of this business can't be conducted until Monday morning. I don't want that to sound like I'm bitching because I'm not. Indeed, I am thankful.
Do ya'll have a morning routine? I do. I get up turn on the computer and coffee pot, in that order. I check my email and take care of everything that needs an immediate response. Yeah, I prioritize, just like you. Then I take my coffee and let our dog out to work off some energy. While he is doing his thing I survey the back yard and wonder how I'm ever going to get this mess to its full glory. We will talk about my inbred dog and my gardening issues another time. I love that dog but he ain't no Rin-Tin-Tin.
However, as I watched him stalk rabbits, part of his daily routine, I was struck by how much his efforts are like those of home buyers. He wants to catch that rabbit like a home buyer wants that best deal. Unfortunately, neither has a chance without some help. Well, rejoice brothers and sisters because I am the help you need.
While I won't intervene with nature and help the dog (Bentley) snare a rabbit, I will be happy to help you make wise Real Estate decisions. I do it everyday. The best deals don't languish on the market. If you don't have a real estate professional looking out for you, you don't have a snowball's chance in hell of getting your best deal.
If you missed it the first time you are in luck. The original First Time Home Buyers Tax Credit was set to expire on November 31, 2009. It was so successful it was extended and broadened to include current home owners. The gist of the program is; any one that hasn't owed a home in the proceeding three years is probably eligible for an $8,000 tax credit when they purchase a primary residence. Current home owners are probably eligible for a $6,500 tax credit. There are some income limitations but they are quite liberal. In fact I personally know only one couple that won't qualify. The home you are buying has to be under a purchase agreement by April 30, 2010 and must close by June 30, 2010.
The fact that you have a two month grace period to close is a revision as well. In the prior program the home had to close and fund on or before November 30, 2009. That one stipulation caused much undue hardship and frustration. Why? If you are not familiar with mortgage lending then you are unaware of the difference between mortgage lenders and mortgage brokers. Suffice it to say, for various reasons a home did not close and fund on or before the deadline the purchaser didn't get the tax credit. Can you imagine having 8 grand yanked out of your hand because someone you trusted put their interest before yours? It must have been devastating.
As sad as that must have been there will be more miss this golden egg of opportunity. When you shop for agents and lenders their longevity says a lot. The only guidance I can offer now is, beware of those that tell you what you want to hear and view them all through the eyes of skepticism. Talk is cheap. This home buyers program will definitely end on April 30. Give me a chance to put my money where my mouth is. You won't be sorry.