It has been a busy few days and I'm sorry to be a few days late in posting to my blog. I've got so many things to talk about I'm not sure where to start!
First, the new home buyer and "move up" buyer tax credits. These are really good incentives for purchasing a home right now. Both have been extended to the end of April 2010. Some people think that because the government extended this once they will do it again but word in the industry is that they won't - because that will defeat the whole purpose of the incentive. The government wants you to buy a house and help stimulate the economy. If you hold out thinking you have all the time in the world, this won't work. So if you are at all considering buying, start looking now so you can be buying before the April 30th deadline. I have a lot more detailed information on both credits - for instance, you don't have to have never owned a home to qualify for the first time buyer credit - just not in the past three years. And to qualify for the "move up" credit you don't actually have to be moving up - you can buy a smaller home. You do have to occupy the new home as your primary residence, but you can keep your existing home and rent it out if you want - you don't have to sell it unless you wish to. The amounts of the two credits are up to $8,000 for the first time buyer and up to $6,500 for the "move up" buyer.
The Boonville Big Band was excellent last Saturday night in Boonville. There were a lot of people; my friend and I got there about 7:30pm and we ended up sitting at the bar and eating dinner - not a table was to be had! The Big Band supports three singers now - Mitchell Holman, Patrice Kaohi and Sharon Garner - and they all sound great. There were lots of swing dancers and it looked like everyone had a good time - I know I did.
My first escrow is closing tomorrow! I can't tell you how exciting this is and what a great experience the whole process has been. My buyers, first time home owners, are very excited as well - and they'll be able to get into their first home in time for Christmas.
One area of real estate I learned about was the REO market. REO stands for Real Estate Owned and that's what they call it when the bank owns the property. The property that is closing was a foreclosure and the whole experience is quite a bit different than a regular sale. From the beginning it is all about time and being prepared. I'm going to be sending out my December newsletter as well this week and that is going to be my topic, so check that out for tips and information about buying a home in foreclosure. If you aren't on my email newsletter list, sign up via my website - just go to the contact me portion and send me an email and I'll include you in that.
I hope everyone is staying warm with this very cold weather we've been experiencing. I broke the ice on my horses' water trough this morning and it was nearly 3/4 of an inch thick! BRRRR. I also hope you're getting all of your holiday preparations underway and doing so successfully. I might be doing some baking this coming week. I was given a bucket of persimmons and I think I'll be making some cookies and bread out of them. Yum! Until next week - ciao!