GOOD NEWS REGARDING THE TAX CREDIT EXTENSION

IT'S OFFICIAL - OBAMA HAS SIGNED THE FIRST-TIME HOMEBUYER TAX CREDIT EXTENSION TO APPLY TO ALL HOMES PURCHASED BY APRIL 30TH, 2010 AND CLOSED BY JUNE 30TH, 2010. EXISTING HOMEBUYERS WILL ALSO BENEFIT WITH A $6,500 TAX CREDIT IF THEY HAVE OWNED AND LIVED IN A HOME FOR THE PAST 5 YEARS AND PURCHASE ANOTHER HOME WITHIN THESE TIME LIMITS. INCOME LIMITS HAVE ALSO BEEN INCREASED TO $250,00 A COUPLE ($125,000 SINGLE). NOW IS A GREAT TIME TO THINK ABOUT BUYING A HOME WITH THE LOWEST INTEREST RATES SEEN IN DECADES AND HOME PRICES AT AN ALL-TIME LOW.

Selling Your Home in Today's Market

I went to visit a customer in Montclair, NJ, I sold a home to 8 years ago. The home had a lot of potential back then but money has been tight and her dreams were not realized and now she wants to sell. I gave her a price to really get some interest in the home. She felt the home was worth $75,000 more than I was telling her. She wanted buyers to see the potential that her home has and be willing to pay for it. I had the hard task of telling her that buyers are not looking to pay for potential right now--they are looking for a bargain. Sellers, unfortunately, are about one year behind in the prices they can actually get for their home. Even though Montclair is fairing quite well, only homes that a priced well are selling. If your home is worth more than I tell you it is, buyers will pay it. Sellers--you must think like buyers right now. What would you be willing to pay for your home??

Don't let the market get you down

Even when you think things couldn't get worse, stay positive and postive things will happen.
People are still buying and selling homes. If you are thinking of moving up in this market it's a good time since the savings on the new purchase will be a larger percentile of the price even if you sell your own home at a lower price. There are many good homes on the market. I have many happy customers.

My Home Is My Castle

As a real estate agent in New Jersey plagued with having to sell foreclosures and doing BPO's on peoples' homes about to go in to this abyss, I am touched by the actual people who are loosing their homes. We tend to forget the human touch that these homes once had and that they are like abandoned children no longer well cared for or loved. Yet, if you look carefully, there are all the little signs that show a home was once loved by people when their home was their castle. The flowers planted so lovingly, the home once decorated for the holidays. Let’s not forget the people who are less fortunate and losing their homes because they can’t afford to make the payments any longer. Let this be a lesson in humility. Please post your opinions.