My Blog

Good news for Mercer Island first time home buyers!  With this new incentive for home buyers, we anticipate a more active market for our beautiful Mercer Island homes.  We expect to see a “trickle up” effect where entry level homes sell so that those sellers can then move up to the next level and so on.  How does it work?  The new Home Buyer Tax Credit provides an $8,000 credit that will be available to first time home buyers when they purchase a primary residence between January 1, 2009 – December 1, 2009.  Unlike prior proposals, this credit does NOT require repayment.

Also, you may qualify as a “first time” home buyer even if you have owned a home in the past, as long as you have not owned a home in the last three years.   Call me for more information about the parameters.  That, together with our normal activity in the Spring when the flowers are in bloom, should open the Mercer Island market to more first time home buyers.  And of course, once the inventory goes down, this amazing “buyers’ market” (with low prices and low interest rates) will become a more balanced market for first time home buyers.  It’s always a case of “supply and demand”.  Also, the FHA Jumbo loan was just approved to increase from $506,000 back to the 2008 limit of $567,500 which should help Mercer Island first time home buyers as well.

We still have amazing inventory on our beautiful Mercer Island ripe for the picking, with prices so low compared to recent years that you first time home buyers will be amazed–it’s a great way to have instant equity, since historically our Mercer Island home prices have continued to appreciate in value over the years.  Please call me for a tour of properties in your price range as a first time home buyer on our great Mercer Island.

That fantastic Mercer Island condo that I spoke about last week, with the gorgeous unobstructed panoramic view, that was priced at $429,000, and which would normally sell for so much more, has now been reduced to the amazingly low price of $399,000!  There is so much I can tell you about the exciting lifestyle of living in our wonderful Mercer Island village, with a myriad of activities for all ages and all interests.  Mercer Island first time home buyers, please contact me to learn more.  Thank you…I look forward to hearing from you.