Idaho Falls

Lets face it – the current economy is bad news. We hear it every day when we switch on the TV or surf the web. But guess what? The current economy has done wonders for pricing on luxury homes. All over the country, many people got caught up in speculation and built very large, very expensive homes. Some built them to live in, others just as an investment. I am saddened by the amount of homeowners who got in over their heads.

The good news is that it forced a huge price reduction on the higher end homes here in Idaho Falls. Luxury homes that were listed at 1.2 million dollars just 2 years ago are being sold for half that amount. In fact, of the 12 homes that were sold this year in Bonneville County over the $400,000 mark – the average sales price was just 79% of the original list price.

What does that means for buyers who are looking for a luxury home in Idaho Falls? It means that there are some great deals out there. Not every luxury home that is on the market is a distressed property. But there are some that are really fantastic buys. If you are looking to upgrade or buy a new luxury home in Idaho Falls, call me and let me put my experience to work for you.

Are you struggling to pay your mortgage payments? Have you experienced a significant decrease in income? Are you already behind in your payments? Do you owe more on your home than it is worth? If you answered “yes” to some or all of these questions, you may want to visit www.makinghomeaffordable.gov
The federal government is offering 2 different types of help for home owners who are struggling to make their mortgage payments.

Loan Modification: If you can no longer afford to make your monthly loan payments, you may qualify for a loan modification to make your monthly mortgage payment more affordable. Millions of borrowers who are current, but having difficulty making their payments and borrowers who have already missed one or more payments may be eligible.

Loan Refinance: If you are a homeowner who is current on your mortgage payments but unable to refinance to a lower interest rate because your home value has decreased, you may be able to refinance.

To see if your home in Idaho Falls qualifies for either of these programs, make sure to visit www.makinghomeaffordable.gov.

Watch this video for stories of people just like you, who found themselves in trouble with their mortgage.
You Tube Video – Getting the Help You Need

With interest rates at an all time low, declining home prices, and the tax credit, PLUS a large inventory of homes for sale in Idaho Falls, NOW is a great time to purchase a home. In early 2007 there were only 550 homes on the market in Bonneville County – the selection was limited and prices were higher. Today there are more than 1000 homes for sale in Bonneville County – and there are some GREAT deals to be had out there! The selection has never been better and the prices are outstanding. If you are in the market to buy a home in Idaho Falls, give me a call today and let me help you get into your new home before Christmas!

Breaking news! Associated Press – Wednesday October 28, 2009

WASHINGTON — Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers.

The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November. Senators agreed to extend the existing tax credit for first-time homebuyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years, said Regan Lachapelle, a spokeswoman for Senate Majority Leader Harry Reid, D-Nev.

The tax credits would be available to homebuyers who sign sales agreements by the end of April. They would have until the end of June to close on their new homes, said a congressional aide, who spoke on condition of anonymity because he was not authorized to publicly discuss the deal.

There has been information that has been floating around out there that the extension will also DECREASE the amount of the credit up to 10%. There is still time to get in on the current $8000 first time homebuyers credit – homes must close before November 30th of this year. Typical escrow for Idaho Falls is 30 days, but many of the local banks can close a loan much faster.

First time home buyers hurry and contact me before time runs out!

With the recent economic troubles, it is understandable that some homeowners are having trouble making their mortgage payments. There are options out there to help! The WORST thing you can do is NOTHING. The following are some options that you may want to consider:

If you are having trouble making your mortgage payments – remember the WORST option is to DO NOTHING. Please feel free to contact me if I can help you in any way!