Congratulations!
In this week’s CEO Podcast-Special Friday Edition! Lynn Fruth shares his warm weather thoughts on getting your home ready to show potential buyers in the rapidly approaching spring market.
Do you have any tips to add to Lynn’s list? Leave a comment for us, we’d love to hear your suggestions!
The fact that you’re reading this means you are on our web site, and that suggests that you are considering either buying or selling a home. You are precisely the ones for whom spring has sprung! The spring real estate market, that is.
Traditionally the market is hottest from spring through early summer, but it’s coming early this year. RIGHT NOW is the time to take the plunge if you intend to buy or sell any time this year, primarily because of the tax credit incentives that will disappear after April 30th. From $6,500 to $8,000 of real money is available not only to first-time buyers, but also to current homeowners who have owned their home for 5 consecutive of the last 8 years. But this rare “bonus” that Uncle Sam is offering disappears on May 1st.
So, Mr. Seller, it’s time to get serious about selling your home in the next couple months. That usually means pricing it to the market rather than the price you hope to get. This is often a bitter pill for sellers to swallow, but it shouldn’t be if you then become a buyer and take advantage of the same discounted pricing on your next home. For those “moving up”, you can actually save more on your next home than you will “lose” on the current one. A rising tide lifts all boats, so if you wait for the value of your home to rise, remember that all others will have risen as well.
And you, Mr. Buyer, what are you waiting for? If you are buying a home over $800,000 or if your income is beyond the upper limits of the credit you may not qualify, but many buyers can grab the tax credit if they act soon, and while interest rates are at historically low levels.
If you need information about the tax credits, that’s what we’re here for! Call or email one of Danberry’s Real Estate professionals soon. If you are unsure of your mortgage qualifications, just click on the “Financing” button above to contact one of our Home Loan Consultants. Enjoy the spring air!
This week’s CEO Podcast from Lynn Fruth discusses why it is vital to price your home appropriately when listing with a Real Estate Agent.
We’d love to hear your comments! Please share any successes or challenges you’ve encountered while pricing a home for sale.
If so, first of all congratulations! Secondly, IRS has a new form for reporting the transaction, Form 5405, which can be found under “Forms and Publications” at www.IRS.gov. Avoid extra hassle by using the right form.
If you qualify as a first-time buyer but haven’t taken the plunge yet, remember time is running out and we’re not going to see many $8,000 gifts coming from a federal government that is burdened by so much debt. Contracts need to be fully executed by the end of April in order to get the credit. If your tax liability is less than $8,000, you will get a check for the difference.
For those on the fence post about whether or not to buy, perhaps talking to a mortgage loan professional will help you with your decision. By clicking on “Financing” at the top of this page, then on “Contact our Home Mortgage Consultants”, you can get a great deal of help determining your financial qualifications at no cost to you. Let us know if we can help with the process!
In this week’s CEO podcast, Lynn Fruth explains why NOW is a great time to list your home with a Danberry agent.
Are you thinking about listing your home? Contact Danberry today to find a professional real estate agent and start the process today!
Listen as Lynn Fruth, CEO of The Danberry Co., explains how to take advantage of the 2010 Federal Housing Tax Credits.
Have you taken advantage of these tax credits? Share your success story with our readers!
Unless you have bought a home in the last year or so, you may not be familiar with the Good Faith Estimates (GFE) issued by mortgage lenders or the universal closing statement, the HUD-1. Effective on the first day of this year, the federal government (HUD) requires lenders to give consumers a very different Good Faith Estimate at the time of mortgage applications. Why? Because consumers often complained that the terms and costs they experienced at closings were very different (higher) than they anticipated. If increases in costs were discovered for the first time at the closing table, some buyers felt like they were being held hostage – either pay them or start the entire home buying process over again. The new form is intended to fix that, requiring the use of a consistent form issued within 72 hours of application. If some closing costs appearing on the HUD-1 closing document are 10% or more above the GFE, the closing will be delayed. It’s impossible to explain all the changes in a brief paragraph, but additional information is available at www.hud.gov.
This remains one of the best times to buy a home that we have seen in many decades. We suggest you begin the process by seeking professional counsel. Full-time Realtors at The Danberry Co. are prepared to help you, as are the Home Mortgage Consultants at First Mortgage Consultants, LLC, an affiliate of Wells Fargo Home Mortgage.
Have you experienced problems with Good Faith Estimates or at a home closing? Please share the good and bad experiences with us.
Listen as Lynn Fruth, CEO of The Danberry Co., Realtors, gives his personal take on where interest rates are headed in 2010.
Let us know what YOU think!
