President Obama signed into law the First Time Home Buyer’s Tax Credit. The bill extends the tax credit for First Time Home Buyer’s or people who have not owned a home with the last three years. In order to qualify for the tax credit all contracts need to be in effect no later then April 30^th, 2010 and close not later then June 30^th, 2010.

The tax credit for First Time Home Buyer’s is 10% of the purchase price of the home with a maximum available credit of $8,000.

There is an exciting new tax credit for those who already own a primary residence. Home owners can qualify for a tax credit up to $6,500 if they sell their homes from November 6^th, 2009 to June 30^th 2009. To qualify home owners must have occupied the home as a primary residence for a period of five consecutive years during the last eight years.

For more details on this new program give me a call or e-mail today to show you how to benefit from the new tax credits.  

The best and most affordable ways to maximize your dollars in a slow economy is to effectively stage your home. Here are some simple tips to showcase your home.

~ Trim your shrubs and trees. Sweep your sidewalks and drive way, removing any weeds that may be growing between the cracks. Mow your lawn to give your home a manicured look.

~ To give your home a fresh look, paint any pealing or scuffed paint on the exterior and interior.

~ Maximize your space by removing clutter from counter tops, desk tops, dressers and night stands. The way you live in a home is different then the way you sell a home.

~ Replace burnt out light bulbs and update fluorescent lamps, which darken with use.

For more tips on staging your home please drop us a line.

Besides the financial benefits why do people buy homes?

There is a sense of putting down roots when you purchase a home. You can decorate and landscape as you choose. Raise children, establish neighborhood connections and make your home the center of traditions for years to come.  Owning your own home also enables you to have pets such as dogs and cats but also for some people horses and livestock.  No one raises your rent! Once your mortgage is finalized if you have a fixed rate the payment stays the same. You will not be forced to move out of an area of your choice because the rental market has become too high to afford.

Home ownership is the dream that can become a reality especially in today’s real estate market.

Until December 1st, 2009 first time home buyer’s can still get $8,000 first time tax credit. The tax credit is to encourage people to own a home and it is a really big tax break.

Depending on a persons income and how much they deduct on their federal income tax filings the savings could be substantial.  There is money on the table for those who have been thinking of buying their first home or haven’t bought or sold a home in the last three years.  Home prices are low, interest rates are low and there are plenty of homes available.

I have years of experience and knowledge of the market to find a home in the area you want to live.

Governor Herbert announced today a new construction grant program called Home Run 2 Grant. This program is similar to the Home Run Grant issued earlier this year but it is expanded to include homes that are currently under construction or contracted for construction as well as new homes that are ready for occupancy. The grant must be used by June 30^th, 2010. There are a total 1,950 grants available.

Homes that qualify include single-family detached homes, condominiums, planned unit development, twin homes and manufactured homes permanently affixed to a foundation.

Loans that qualify for the grant are FHA, VA, Conventional and Utah Housing. Cash buyers are also eligible.

Don’t let this opportunity get away!

Please contact me for more information on this program since the grants are available for a limited time only. I can be reached at 801-725-5933 or through my blog.

Homes are the most affordable they have been in years according to a recent study by NAHB/Wells Fargo Housing Index (HOI). This study tracks the median income compared to the median price range of homes for metropolitan areas across the nation. The study released on 08/19/09 shows that for the Salt Lake City, UT area the Housing Opportunity Index is 70.6% for the second quarter of 2009 meaning that of the people earning the median income of $67,800 a year 70.6% can afford the median price range home. Compared to the second quarter of 2007 when the Home Opportunity Index was 31.7% this is a vast improvement.

This indicates two things:

1) Housing is more affordable than it has been in years.

2) The median income for the area is keeping up with the cost of housing.