The Scrimmage at Crescent Valley High School starts at 11:00 AM and goes to 4:00 PM.  It is free so come watch the fun, as the teams learn what they need to change on their robot before the finals in March. 

NAR website released a great article regarding the American Recovery and Reinvestment Act of 2009.

See attached article of click here:

5405 Form 

The thing to remember here is that you need to have that home purchased and closed in Escrow by November 30th.

So, if you have been putting off looking for that home your all most to late.  It takes an average of 60 days to get a home closed these days do to all the new lender requirements and underwriters reviews. 

Give me a call today and we can get started on your new home and tax credit savings.

The federal stimulus package contains $4 billion in incentives that could jump-start your business while helping your clients to a more energy-efficient future. This entire issue of Remodeling is devoted to in-depth coverage of the American Reinvestment and Recovery Act, to help you take advantage of all the new programs offered. From detailed requirements for building and systems to rules for claiming tax credits, we give you the tools to turn the stimulus package into a business opportunity.

If you were planning on making changes to your home in the next year or two, you might want to consider taking a more green approach to remodeling projects such as replacing windows and doors, etc.

A tax credit program available for consumers through the new stimulus package can help you out on your taxes, when you decide to help out the environment.

This tax credit program could earn you up to $1500 back on your taxes! Certain credits are available to consumers that decide to take a more environmentally-friendly approach to replacing windows, garage doors, insulation, heating/cooling systems and more to your existing home or new construction.

In addition to a tax credit in the following year, the benefits for adding these energy-efficient products to your home will most likely result in lower energy bills in the years to come.

More information on which types of remodeling qualify, limits to the tax credit and other FAQ’s are available at the Energy Star website, so please visit http://www.energystar.gov/index.cfm?c=products.pr_tax_credits for details.

*ENERGY STAR is a joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy helping Americans all save money and protect the environment through energy efficient products and practices.

Click on the link below to view a graph that demonstrates the time to buy in this market.

Click here to view graph.

It was just a short time ago that the number one way most buyers found their new home was through a Real Estate Broker.  The internet has now over come that number.  Recent stats show that 34% of Buyers find their home on the internet while 32% find it through a Real Estate Broker.  Obviously these stats are rather close. 

See list below for more details:

                  Real Estate Agent                     32%

                 Internet                                   34%

                 Yard Sign                                 15%

                 Friend/Relative                         7%

                 Home Builder                            7%

                 Newspaper Ad                            3%

                Direct from Seller                         2%

                 Home Book /Magazine                 1%

Internet use has gone from 18% in 1997 to 87% in 2008.  That is tremendous.  But in today’s market I think the truth is that the Internet and Broker are equally important.  You may do a lot of searching on line by your self but if you don’t have a Broker plugged into your wants and needs the really good deals will be missed.  See, Brokers do a lot of networking and when a good, no a great listing comes on the market it is gone before it hits the web.

So, in spite of the rising percentages for the internet, be sure to be in contact with your agent. 

To learn more details give us a call.

My flowers are up and primrose, pansies do fine in the cold weather.  So, at least you can get a little color in you flower beds. 

We will be holding an open house on March 15, 3334 Avondale Place in Philomath. Stop by and bring a friend.

What is the definition of a first time home buyer?  Never owned a home before or has not owned a home in the past 3 years. 

It's a great time to buy!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability.  Even though interest rates have gone up in the last six months, they are still near historic lows.  Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life.  It’s important to live in a home that reflects your taste and values, yet is within your financial “comfort zone.”  To that end, it may be more important to lock in today’s relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today’s market.

If you have not owned a home in three years, you qualify as a first time home buyer.  If you buy a home after April 9, 2008 and before July 1, 2009, you qualify for this credit.  Call your friends who just bought a home since April 9th and tell them they may take $7,500 off their tax bill if they qualify.  It has to be your principal residence, so rentals do not count.

The tax credit is 10% of the cost of the home, up to a maximum of $7,500. This is not an additional deduction that lowers the amount of income to be taxed, it is a tax credit.  In other words, you take $7,500 off your tax bill.  But there is a catch; the credit you receive now is actually an interest-free loan that must be repaid.

The loan has no interest, and will be paid back over 15 years.  You get the credit on your 2008 taxes, but you start paying it back on your 2010 taxes that are due in 2011, so you get at least two years without a payment.  You pay back 6.67% of the credit each year, so for a $7,500 credit the payment is $502.50 per year.  If you stay put for 15 years, you pay it off with no interest.

What happens if you sell the house?  You pay the balance back at the closing.  So, you get $7,500 now, and pay the rest of it back if you make money on the sale of your house.  What happens if you do not make enough money when you sell your house?  They forgive the rest of the debt. 

Other restrictions stipulate that you have to buy your first house in three years before July 1, 2009, not have super high income, not use bond financing and buy anywhere in the US.

If you’d like to learn more about this program, please call me!