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Joan Ryder
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November 2009
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Your #1 Choice For Real EstateTM
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Home Buyer's Tax Credit Changes Possible
The first major change to the $8,000 home buyer's tax credit began moving through Congress the last week of September, giving hope to real estate and building groups pushing for extension of the entire program before it expires November 30, 2009.
House Ways and Means Committee chairman, Congressman Charles Rangel, a New York Democrat, combined several smaller bills into the "Service Members Home Ownership Act of 2009", with a floor vote expected soon.
The bill is intended to correct a flaw in the original tax credit legislation: By requiring buyers to occupy and own their first home for 36 months to fully qualify for the credit, the program creates serious problems when military, Foreign Service and intelligence agency personnel are transferred overseas.
During their absence, they are not occupants of their houses, and sometimes have to rent them out or sell. Any of these events make them ineligible to retain the $8,000 credit under current law. Ineligible buyers must then repay the credit to the IRS.
Oregon Congressman Earl Blumenauer, sponsor of one of the bills consolidated
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Don't Let An Over-priced Home Be a Humbling Lesson
Perhaps the greatest influencer in getting your home sold is entering the market with a home that's priced correctly.
Over-priced homes won't get favorable attention; they lose out to the ones that are reasonably priced.
All sellers are looking for the highest price for their home. That's why some sellers want to start at the highest point, maybe even asking a higher price than what they really believe they can get -- the continued readjustment of price can be a humbling ride down to finding the reasonable price to sell the home.
Still dropping the price sounds like an okay strategy, some sellers think.
Here's the problem, especially in today's current market conditions where numerous sellers are competing for fewer buyers -- adjusting price down may come too late and cost the seller less in gain than if the home were priced correctly from the start.
The majority of buyers use buyers' agents to assist them with purchasing a property. Buyers' agents will help the buyers find a home that's right for them. If their buyers are interested in a particular home and
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Four Things Not to Forget on Moving Day
You're likely approaching moving day with equal parts excitement and dread.
The excitement: a new home, a new life – a fresh start!
The dread: moving. However, you can't go from "Old, Boring Life" to "New, Exciting Life" without passing through "Moving Day." Thankfully, the day itself needn't be an ordeal, if you keep in mind four things you absolutely should not forget to do.
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Wondering What Your Home Is Worth?
Let me show you.
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Local Market Conditions
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Daily News and Advice
Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
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This Month's Featured Articles:
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Joan Ryder, ABR,CRB,CRS,GRI,ePro
(410)893-1792 x 11
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Joan Ryder & Associates Real Estate, Inc.
3 Vale Road, Suite 200
Bel Air, MD 21014
(410)893-1792
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Equal Housing Opportunity
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