A few of the current market trends...

$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!

Price your home to sell!
Did you know the best chance for selling your property is within the first seven weeks?
It's true.
Studies show that the longer a property stays on the market, the less the seller will net upon the sale. It is very important to price your property at a competitive market value at the signing of your listing contract. The market is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell.

An Overpriced Home:
· Minimizes offers
· Lowers agents response
· Limits qualified buyers
· Lowers showings
· Lowers prospects
· Limits financing
· Wastes advertising dollars
· Nets less for the seller

When you are ready, contact me today for a personal market value analysis of your home. No hassles or obligation - just honest advice on how to get top dollar for your home!

Existing Home Sales Rise
The National Association of REALTORS (NAR) reported that existing home sales increased 5.1 percent in February, reversing the trend from the previous month. Total housing inventory for sale rose 5.2 percent in February, representing a 9.7-month supply at the current sales pace. Existing home sales — including single-family, condos, co-ops and townhomes — are projected at 4.72 million units for 2009, up from 4.49 million units projected in late February.
According to Lawrence Yun, NAR chief economist, "Because entry level buyers are shopping for bargains, distressed sales accounted for 40 to 45 percent of transactions in February." Yun also referred to strong improvements made in the West, including California, "where the median listing price is beginning to rise for the first time in three years."
Home shopping has picked up with increased housing affordability. NAR president Charles McMillan said, "It appears most of the increase in buyer traffic occurred in the latter part of the month after the $8,000 first-time buyer tax credit was put in place. At the same time, mortgage purchase applications have risen, so we expect to see sales picking up around late spring."
Freddie Mac is reporting favorable mortgage rates hovering in the high 4 to low 5 percent range for a 30-year fixed-rate loan.