Homes Sold in 2009

Below are the numbers for homes sold in our area. Just click to view in a larger pane. If you have any questions, be sure to give me a call!

National Market Update!

The National Association of REALTORS (NAR) reported a 10 percent increase in existing home sales, while inventory fell 3.7 percent. Existing homes sales are on pace to reach 6.1 million units by year's end, are up over 23 percent from the same time a year ago.

Much of the recent activity was sparked by first time buyers looking to take advantage of an $8,000 tax credit, which was initially due to expire at the end of November. NAR expects market demand to remain strong as the tax credit program has been extended and expanded through April 30.

Current inventory levels in all price ranges have dropped to 3.57 million units nationally, creating a 7-month supply. "Low-end inventory has become very tight in many areas and in some cases buyers are becoming more aggressive," explained NAR president Vicki Cox Golder. Multiple offers are not uncommon in the lower price ranges, and foreclosed properties are selling more quickly.

Who do you know who needs a great real estate agent? We can help you and your friends, colleagues and family ANYWHERE in the United States. Just ask us for a referral. We'll tap our nationwide network and help you find awesome real estate service wherever you need it. Friends don't let friends buy or sell real estate without a referral!

Just Approved: Extensions for Loan Limits & Home Buyer Tax Credit

In recent weeks, Congress has passed important legislation aimed at supporting the stability and growth of our housing market and overall economy.

1) Loan Limit Extensions - Congress has approved the extension of higher loan limits for mortgages backed by Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA). These limits were temporarily raised in 2008 to $729,750 as part of the national stimulus plan, and were scheduled to expire at the end of the year. This new measure extends the higher loan limits through December 31, 2010.

2) Home Buyer Tax Credit – President Obama just signed an extension of the first-time home buyer credit program. The revised program now benefits both first-time homebuyers and existing homeowners who purchase and move.
First-time homebuyers may be eligible for up to an $8000 tax credit.
Existing homeowners may be eligible for up to a $6500 tax credit. Some of the fine print includes:
Eligibility: All U.S. citizens who file taxes are eligible to participate. A “first time” home buyer means you have not owned your principal residence for at least 3 years. An “existing” home owner means that you have owned and lived in your principal residence for at least 5 consecutive years out of the last 8 years.
Income limits: Eligibility for the tax credit is based on the household’s “modified adjusted gross income” (MAGI).

Modified Adjusted Gross Income (MAGI)

Full Tax Credit for Single Person, making less than $125,000
Partial Tax Credit for Single Person, making $125,000-$145,000

Full Tax Credit for Married Filing Jointly, making less than $225,000
Partial Tax Credit for Married Filing Jointly, making $225,000-$245,000

No Tax Credit- Single, over $145,000
Not Tax Credti- Married, over $245,000

Eligibility dates: Homes purchased after 11/6/2009 and before May 1, 2010. Note that homes that are in a binding contract by 4/30/2010 may qualify, provided the purchase closes by July 1, 2010.
Types of homes – New and resale homes (single family, townhomes, and condos) used as a principal residence with a purchase price of less than $800,000.
Residence requirements – the property needs to be the buyer’s principal residence for at least 3 years after close of escrow.

For more information on these programs – please give me a call. Details on the new tax credit program is also posted on the website www.federalhousingtaxcredit.com.

Still time left for the $8000 Tax Credit!

$8000 Tax Credit Available For a Limited Time... home buyers can claim a special tax credit worth up to $8,000. The American Recovery and Reinvestment Act offers qualifying homebuyers a tax credit equal to 10 percent of a home's purchase price, up to a maximum of $8,000. The tax credit is offered to first time homebuyers, and those who have not owned a principle residence in the past three years. To be eligible for the tax credit, the home purchase must be recorded between January 1 through December 1, 2009.The full tax credit is offered to buyers with reported income up to $75,000, or $150,000 for married couples filing a joint return. Partial tax credits are available to for those with income levels up to $95,000, or $170,000 for those filing jointly. Contact us today for more details on this exciting program!

The Meaning of Poverty!

A colleague passed this delightful story along:

One day a father of a very wealthy family took his son on a trip to the country with the firm purpose of showing his son how much poverty exists in the world. They spent several days and nights on the farm of a very poor family.
Upon their return from their trip, the father asked his son, "How was the trip?" The son's answer? "It was great, Dad!" "Did you see how poor people can be?" the father asked. "Oh yeah," said the son.
"So, what did you learn from the trip?" asked the father. The son continued, "I saw that we have one dog and they had four. We have a pool that reaches to the middle of our garden, and they have a creek that has no end. We have imported lanterns in our garden, and they have the stars at night. Our patio reaches to the front yard, and they have the whole horizon."
His son added, "We have a small piece of land to live on, and they have fields that go beyond our sight. We have servants who work for us, but they serve others. We buy our food, but they grow theirs. We have walls around our property to protect us, and they have friends to protect them."
With this the boy's father was speechless. Then his son finally said, "Thanks Dad, for showing me how poor we are."
Too many times we forget what we have and concentrate on what we don't have. What is one person's worthless object is another's prize possession. It is all based on one's perspective. It makes you wonder what would happen if we all gave thanks for the bounty we have, instead of worrying about wanting more. Take joy in all you have, especially your friends.

Fall is Here! Is Your Home Ready?

That crispness in the morning air and dew on the lawn tells me that fall is here! We all know that once it’s cold and rainy outside, we tend to huddle indoors and pay less attention to the maintenance of our homes. With that in mind, now is the time to get your home ready!

• Furnace Filters ~ Though filters should be checked more than once per year, it helps to use fall as a reminder for this basic maintenance. Your furnace is the blower unit for both your heating AND air conditioning, so it’s been working all summer long! Change the filter often for maximum performance and energy efficiency.
• Standing Water ~ The rainy season is here, so if you have open containers on your property such as flower pots or bird baths, they’re going to fill up. This is the perfect breeding ground for algae, so turn them upside down or store them out of the weather.
• Sprinkler Check ~ Save water and money by adjusting your sprinkler settings. Either reduce the number of days you’re watering, or the amount of time set for each station. By the time winter comes, you should be able to turn them off completely!
• Clear the Debris ~ I’m very certain that no one wants unwelcomed guests, meaning pests and rodents. Extra clutter around the perimeter of your home is the perfect hiding place to escape the colder weather, so get these areas cleaned up. This will strongly discourage rodents from making a home on your property!
• Seal the Gaps ~ Another place rodents like to hide out is in the attic. Walk the perimeter of your home and look for openings that would allow them access into your home, and get them sealed. Even a quarter-sized opening is large enough for a rat to squeeze through!

Everyone deserves a home they love ~ Inside and Out!

Law of the Garbage Truck...

I thought everyone might enjoy this little story:

Law of the Garbage Truck
One day I hopped in a taxi and we took off for the airport. We were driving in the right lane when suddenly a black car jumped out of a parking space right in front of us. My taxi driver slammed on his brakes, skidded, and missed the other car by just inches! The driver of the other car whipped his head around and started yelling at us. My taxi driver just smiled and waved at the guy. And I mean he was really friendly. So I asked, 'Why did you just do that? This guy almost ruined your car and sent us to the hospital!' This is when my taxi driver taught me what I now call, 'The Law of the Garbage Truck.' He explained that many people are like garbage trucks. They run around full of garbage, full of frustration, full of anger, and full of disappointment. As their garbage piles up, they need a place to dump it and sometimes they'll dump it on you. Don't take it personally. Just smile, wave, wish them well, and move on. Don't take their garbage and spread it to other people at work, at home, or on the streets. The bottom line is that successful people do not let garbage trucks take over their day. Life's too short to wake up in the morning with regrets, resentments, anger, and frustration; so:
Love the people who treat you right. Pray for the ones who don't. Life is ten percent what you make it, and ninety percent how you take it.

I hope all of you have a blessed, garbage-free day!