Showing posts with label lawrence yun. Show all posts
Showing posts with label lawrence yun. Show all posts
Monday, September 26, 2011
Tuesday, August 2, 2011
Monday, November 9, 2009
$8000 Home Buyer Tax Credit EXTENDED!!!
Well as we all know, last Friday our Prez signed signed into law a bill that includes an extension of the $8000 home buyer tax credit to April 30, 2010.
Expected is a 22 billion dollar contribution to our economy. More people are now eligible to take advantage of the law, which includes a $6,500 tax credit for buyers who are current home owners and have lived in their home for five of the past eight years. Also, income limits for eligible home buyers were also expanded to $125,000 for single buyers and $225,000 for couples. Qualifying home prices are capped at $800,000!
Click here to view NAR's chart of compiled facts regarding changes made to the current tax credit!!!
NAR estimates that approximately three million renters are now financially qualified to purchase a median priced home. Lawrence Yun (NAR chief economist) states, "“As long as buyers do not overstretch and stay well within their budget, a sizable pent-up demand can be tapped among financially qualified potential buyers..."
So if you are on the fence or just don't know if you qualify
GET THE FACTS
contact me and together we will see where you stand...
SEE YOU AROUND THE NEIGHBORHOOD!!!
Friday, July 24, 2009
Have we hit BOTTOM?
Let's recap...
- Mortgage rates still low
- Home prices at a historic low
- Government incentives for first time buyers (see my fav links)
HOWEVER,
Inventory is shrinking. According to the National Association of Realtors, housing inventory peaked in November 2008 at an 11 month supply. In May 2009 it fell to 9.6 month supply. Total housing inventory at the end of June fell 0.7 percent to 3.82 million existing homes available for sale, which represents a 9.4-month supply at the current sales pace. Great news for you sellers, as we all know when inventory decreases home prices begin to increase!!!
Investors are helping in the price increase, they KNOW a good deal when they see it (they are who keep me as well as this market moving FORWARD) and KNOW that real estate is a sure thing. These wise movers and shakers are biding thousands above original asking prices on foreclosures KNOWING that real 
estate ALWAYS makes a comeback!
Existing home sales increased 3.6% to an adjusted annual rate of 4.89 million units in June from 4.72 mil in May. NAR's chief economist, Lawrence Yun, is optomistic, “The increase in existing-home sales occurred in all major regions of the country,” he says. “We expect a gradual uptrend in sales to continue due to tax-credit incentives and historically high affordability conditions."
Freddie Mac reports the average rate rose 5.2% for a 30-year fixed mortgage this week rose to from 5.14% a week ago.
Don't let this GREAT opportunity slip away!!!
Contact me NOW!!!
SEE YOU AROUND THE NEIGHBORHOOD!
Subscribe to:
Posts (Atom)