Home Buyers Tax Incentive

Time is running out on home buyers - first and existing home owners. The tax incentive expires April 30, 2010. This means you must have your new home under a fully executed P&S by then. And, you must close by June 30th. Home owners who are considering moving to a new home are eligable for up to $6,500. First time home buyers are eligable for up to $8,000. get all the details and call dave Bugbee at Bugbee Properties & Investments to start the process and complete it in time to get your tax incentive.

Todays Market

The local market is heating up with low priced homes that are in half-decent shape being snapped up quickly. Many under $200,000 homes are being listed every week and most are bank owned or "short-sales". These properties can take up to 6 months to close depending on how many banks are involved and who the banks are? If you end up dealing with one bank and they are local you should close in a very rasonable time. Beware of properties that Deutsche Bank and Indy Mac own the mortgages, they are very slow in responding.

Even more local, if you are selling a home and have a private septic system and you think it must be replaced but do not have the cash to do it up front, give me a call. I have sold several homes that needed new septics and I know the ropes.

Spring Market

As the good weather approaches here in the Northeast many buyers emerge from their winter hibernation to see what is available. Their first approach is the internet and then maybe a real estate magazine or the local paper. As a buyer why not use a Realtor? If you are serious about buying, a realtor saves you time and aggrevation, not to mention the up-to-the minute information on conditions in the specific area you are interested in. This saves you MONEY! Do it today, find a Realtor you are comfortable with and stick with him or her...be loyal.

Appraisal Issues

Many people trying to re-finance are running into appraisal issues. The problem is that the value of their home has dropped below the amount they are trying to re-finance. Taklk to your local Realtor(R) before you start the process to see where you stand in your market.

The Flip Side

One of the idiosyncracies of today's marketplace is that with the abundance of foreclosures and short-sales the home owner trying to get fair market value is left out in the cold. Just too much sub-prime competition. In addition, the bottom-feeders are the most active buying segment out there. On the "flip-side" the under 5% 30 year fixed mortgages just might light a fire under the first time home buyer after the inauguration...let's see.

In 2009 the inventory of unsold used homes will decline by 50% as investors, first time home buyers and pent up demand snatch up the best of the lot. By mid-2010 some normalcy may return however prices will remain surpressed due to Americans saving more for a down payment to have cash reserves on-hand. A recession mentality will remain in the populaces minds' for 5-10 years and oil will continue to surpress descretionary spending.

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