Aides: Home Buyer Tax Credit Extension Likely
Extending the First-Time Home Buyer Tax Credit, due to expire at the end of November, is high on the Democratic Congressional to-do list, legislative aides said. After Wednesday’s meeting with President Obama and House Speaker Nancy Pelosi (D-Calif.), Senate Majority Leader Harry Reid (D-Nev.) released a statement that the government should “continue efforts to strengthen the housing market by extending the home buyer tax credit.”Mark Zandi, chief economist at Moody’s Economy.com, who is a consultant to Democrats in the administration and Congress, is advocating extending the credit through August and making it available to all home buyers. He said failure to extend the credit just as more foreclosures enter the market will push housing prices down. Also, on Thursday, the House is expected pass legislation to extend the credit through 2010 for people who have been out of the country in the military, intelligence, or foreign services.Source: The New York Times, Jackie Calmes (10/07/2009)
hmmmm interesting. So what do you think? Will/should they extend the credit?
We sure think so......Extending the tax credit will not only help to keep the housing market up, but it will also allow first time homebuyers to purchase a new home. In this market many of the properties we are seeing need to carpet and paint, in addition to sometimes replacing the lawn. This credit allows first time buyer's to get a house and repair what is needed.
Lets keep our fingers crossed and hope it gets extended :)
Saturday, October 10, 2009
Monday, October 5, 2009
Bathroom Upgrades Pay Off
Did you know........
That more than 80 percent of new single-family homes have at least two bathrooms, an average bathroom is 300 square feet of floor space, or 12 percent of the total area, according to a study by the National Association of Home Builders.
The home builder’s study reports a major return on value for extra bathrooms: "When the number of bathrooms is approximately equal to the number of bedrooms, an additional half-bath adds about 10 percent to the home's value, and one additional bath adds about 19 percent."A mid-range bathroom remodel, which costs $10,500 on average nationwide, repays a home buyer at least 100 percent of the outlay when the property is sold, the home buyer study concludes.
Wow....that's amazing!
And Did you also know........
That when it comes to first impression of a home, a interested home buyer is most likely to remember the bathrooms. hmmmm interesting.
Well it's true because when it comes to decorating they say your bathroom is one of the most important places to decorate. Its the place that people remember the most. In fact interior designers will tell you that if you only have $30 dollars to spend on decorating your home your bathroom (guest specifically) is where you should spend it!
What does your bathroom represent?
Check out this link to make your bathroom it's best and check out pictures below of beautiful bathroom's done on a budget from hgtv.
http://www.hgtv.com/bathrooms/bathrooms-on-a-budget-our-10-favorites-from-rate-my-space/pictures/index.html
That more than 80 percent of new single-family homes have at least two bathrooms, an average bathroom is 300 square feet of floor space, or 12 percent of the total area, according to a study by the National Association of Home Builders.
The home builder’s study reports a major return on value for extra bathrooms: "When the number of bathrooms is approximately equal to the number of bedrooms, an additional half-bath adds about 10 percent to the home's value, and one additional bath adds about 19 percent."A mid-range bathroom remodel, which costs $10,500 on average nationwide, repays a home buyer at least 100 percent of the outlay when the property is sold, the home buyer study concludes.
Wow....that's amazing!
And Did you also know........
That when it comes to first impression of a home, a interested home buyer is most likely to remember the bathrooms. hmmmm interesting.
Well it's true because when it comes to decorating they say your bathroom is one of the most important places to decorate. Its the place that people remember the most. In fact interior designers will tell you that if you only have $30 dollars to spend on decorating your home your bathroom (guest specifically) is where you should spend it!
What does your bathroom represent?
Check out this link to make your bathroom it's best and check out pictures below of beautiful bathroom's done on a budget from hgtv.
http://www.hgtv.com/bathrooms/bathrooms-on-a-budget-our-10-favorites-from-rate-my-space/pictures/index.html
Sunday, October 4, 2009
Tax Credit Soon Coming To An End!
Homebuyer's Tax Credit Set to Expire
The $8,000 first time homebuyer's credit is set to expire in November and buyers are busy finding the best deals. Can you believe it....Riverside County home sales rose 14% in July according to market analys. With 7,000 transactions closing escrow, 299 were in Murrieta and 225 in Temecula. Wow that's Great!
The recent rise in home sales is being attributed to both historic low prices, down over 40% from their peak in 2007, and the federal tax credit that grants up to $8,000 to first time homebuyers that is slated to expire in November of this year. Originally expected to end in June, Congress took action to extend home buying credit in an effort to help qualified buyers find great deals on foreclosures.
The tax credit program has been a tremendous success by all accounts, with nearly 20,000 homes in Riverside County changing hands this year. Buyers hoping to get the best prices on homes in addition to the tax credit has made the decision of first time home buying a much easier choice.
But for those of you who have not yet taken advantage of this credit not to worry as they say.....it's never to late....well for now that is. Take advatage of this great time to buy a home....and recieve that great credit. But act fast because it is coming to an end (November 30th) Contact us today and we would be happy to help :) www.jessicawoldenga.com
The $8,000 first time homebuyer's credit is set to expire in November and buyers are busy finding the best deals. Can you believe it....Riverside County home sales rose 14% in July according to market analys. With 7,000 transactions closing escrow, 299 were in Murrieta and 225 in Temecula. Wow that's Great!
The recent rise in home sales is being attributed to both historic low prices, down over 40% from their peak in 2007, and the federal tax credit that grants up to $8,000 to first time homebuyers that is slated to expire in November of this year. Originally expected to end in June, Congress took action to extend home buying credit in an effort to help qualified buyers find great deals on foreclosures.
The tax credit program has been a tremendous success by all accounts, with nearly 20,000 homes in Riverside County changing hands this year. Buyers hoping to get the best prices on homes in addition to the tax credit has made the decision of first time home buying a much easier choice.
But for those of you who have not yet taken advantage of this credit not to worry as they say.....it's never to late....well for now that is. Take advatage of this great time to buy a home....and recieve that great credit. But act fast because it is coming to an end (November 30th) Contact us today and we would be happy to help :) www.jessicawoldenga.com
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