CHANGES IN HOMEBUYER TAX CREDIT
If you're thinking about buying a home, this is a window of opportunity you don't want to miss!
- Tax credit up to $6500 for current homeowners who have lived in their house 5 of the past 8 years
-Tax Credit up to $8000 for First Time Homeowners (or anyone who has not owned a house in the past 3 years).
- Must be under contract by April 30, 2010
-Must close by July 1, 2010
-Interest Rates have dipped down to as low as 4.75%
-Greater Inventory of homes to choose from
If you are planning on building a home, consider this...
- The average build time is 6 months and this tax credit requires that you close by July, 1 2010, which means you must be under contract soon!
If you need to sell a home, consider this...
-More buyers are in the market now until April 30th to take advantage of the tax credit
-If you wait for a strong seller's market, you will mostly likely paym more for your next hom and a higher interest rate marking your nex hom less affordable.
-You will have less inventory to choose from in a seller's market
Other Things to Consider...
- We have several highly professional lenders that we can recommend for you to talk with at no obligation to you.
-We will be happy to give you a free Comparative Market Analysis on your home, and advise you on a repairs and staging to sell your home.
-Correct pricing is CRITICAL in this market.
Please let us know if you would like any more information on the above items, or pass this email along to anyone you think may benefit from it!
Wednesday, December 23, 2009
Thursday, December 10, 2009
SUESSICAL WAS SPECTACULAR!
It was our privilege to host a client appreciation event at the Lewiston Civic Theatre last night. The fabulous cast of Seussical played to an enthusiastic full house. The acting was wonderful, the songs were entertaining, and the sets and costumes fabulous! It was a wonderful reminder that "A person's a person no matter how small" and that we are blessed with some very talented people in our community!
Thursday, December 3, 2009
A few facts about the differences between an inspection and an appraisal...
Many buyers get confused over the home inspection process versus the home appraisal process. It is very important to understand that these are two distinct pieces in the home buying puzzle.
The home inspection is an option for all buyers when purchasing a home. The conditions and timing of it are a part of the Purchase and Sale agreement. This is a meeting with a certified home inspector of your choice where the inspector spends time at the property looking it over in detail. This usually costs between $300-$350. The inspection usually takes 2-4 hours and generally the inspector appreciates you being present. The inspection will give you as buyer knowledge about the overall condition on the home. After the inspection is completed, if there are items not to your satisfaction, you have the opportunity to renegotiate with the sellers on these issues. This is not meant to be a laundry list of items for the seller to remedy, but instead larger items of substance that call for a renegotiation or remedy such as the roof, furnace, etc.
The appraisal is a different thing entirely. The appraisal is completed by the lender simply to establish that you are paying a fair price for the home. They check on this to protect themselves (and you) on the amount of your loan. It is the lending agency's valuation of your property. Sometimes there are work requirements, such as removing peeling paint, putting visquene in the crawl spaces, or getting chimney inspections. While the items in the home inspection are up for negotitation, the items cited in this appraisal for completion are a requirement before the sale can close.
Understanding these two items more fully will help make your home buying process a more pleasant experience.
The home inspection is an option for all buyers when purchasing a home. The conditions and timing of it are a part of the Purchase and Sale agreement. This is a meeting with a certified home inspector of your choice where the inspector spends time at the property looking it over in detail. This usually costs between $300-$350. The inspection usually takes 2-4 hours and generally the inspector appreciates you being present. The inspection will give you as buyer knowledge about the overall condition on the home. After the inspection is completed, if there are items not to your satisfaction, you have the opportunity to renegotiate with the sellers on these issues. This is not meant to be a laundry list of items for the seller to remedy, but instead larger items of substance that call for a renegotiation or remedy such as the roof, furnace, etc.
The appraisal is a different thing entirely. The appraisal is completed by the lender simply to establish that you are paying a fair price for the home. They check on this to protect themselves (and you) on the amount of your loan. It is the lending agency's valuation of your property. Sometimes there are work requirements, such as removing peeling paint, putting visquene in the crawl spaces, or getting chimney inspections. While the items in the home inspection are up for negotitation, the items cited in this appraisal for completion are a requirement before the sale can close.
Understanding these two items more fully will help make your home buying process a more pleasant experience.
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