Home Buyer Tax Credit Extended, Expanded Let us help you with your purchase to take advantage of this credit tax credit. Here's a summary of how it works. The extension of the first-time home buyer tax credit will help continue to clear out inventory, but expanding the credit to include more buyers may not be as helpful in high-cost housing areas. President Obama recently signed legislation that extends the deadline on the first-time home buyer tax credit and adds a smaller tax credit for move-up and other home buyers. The extension and expansion gives home buyers a tax incentive to buy a home until at least April 30, 2010 -- April 30, 2011 for qualifying military personnel. The existing tax credit for first-time homebuyers remains at a maximum $8,000. A new tax credit of up to $6,500 is available to qualifying existing homeowners who buy a new primary residence (or have one built) by April 30, 2010, if they owned their existing home for five consecutive years over the last eight years. Second homes don't qualify for the credit. Home buyers have to repay the credit if they live in their primary residence less than 36 months and are not members of the military. The new rule also raises the qualifying income limits to $125,000 for single taxpayers and $225,000 for joint taxpayers, from the current $75,000 and $150,000. The maximum allowed home purchase price is $800,000, which won't be as useful to move-up buyers in high-cost areas. Both first-time home buyers and others must contract to buy a home by April 30, but close escrow by June 30, 2010. Buyers can claim the credit on their 2009 taxes, even if the purchase is made in 2010 by filing an amended return. Buyers who don't owe taxes can have the credit refunded to them as a rebate. More information is available from the Internal Revenue Service (http://www.irs.gov), including a question and answer page. It's all good news for the housing market. The National Association of Realtors says as many as 400,000 resale transactions (1.2 million for both new and resale homes) were completed specifically because of the first-time home buyer tax credit, since it began, and that put a dent in the housing inventory. Home sales also add property and sales tax revenues to the coffers of local governments as reduced inventory helps boost prices and home values. The first-time home buyer tax credit's availability has coincided with mortgage rates often hanging below 5 percent, according to Jeff Howard, CEO of Erate.com. Written by Broderick Perkins, modified by Pam Snowden for space.
The Fort Worth Metroplex is a great place to live, work and play. If you are thinking of relocating to Texas this is the place to be. Through the economic downturn Ft. Worth has maintained it's market values better than most of the country with steady slow appreciation. It is a great place to invest your money in Real Estate. When moving to this area please feel free to contact us anytime at 817-441-7707 or mobile 817-690-0976.
Buyers Rush to Beat Tax Credit Deadline Time is running out for buyers to take advantage of the federal government's $8,000 tax credit offer that expires on November 30, 2009. There's a new flurry of activity as house-hunters try to meet the deadline, More home sellers are getting their full asking price. As a result of the shrinking inventory in the affordable prices for first time homebuyers. View our Tax Credit countdown calendar at www.pamsnowden.com/2009 First Time Home Buyer Tax Credit.
Keeping current in the Real Estate industry is a must these days. With so much negative news in the media, it is great to hear some positive news from the Chief Economist, Lawrence Yun with the National Association of Realtors.
According to Yun, contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001. The Pending Home Sales Index, is a forward-looking indicator. The index is at the highest level since June 2007.
NAR estimates that about 1.8 to 2.0 million first-time buyers will take advantage of the $8,000 tax credit this year, with approximately 350,000 additional sales that would not have taken place without the credit. Buyers have little time to act because they must complete the transaction by November 30 to qualify for the credit. View the countdown calendar at: www.pamsnowden.com/2009 First Time Home Buyer Tax Credit
The buyer psychology may be shifting from, 'Why buy now when I can purchase later, to, I don't want to miss out on a recovery'. Don't delay call today, 817-441-7707 office or 817-690-0976 Pam's mobile, 817-690-0954 Mark's mobile.
As summertime in Texas heats up, so does the local Real Estate Markets. The interest rates are at an all time low (around 5%) and the first time homebuyer credit of $8000. makes this possibly one of the best times to buy a home ever. The Ft. Worth and surrounding Real Estate Market is one of the most desirable places to live, work and play. Fort Worth, Texas magazine, July 2009 issue reports on "The Great Eight" places to live are Aledo, Benbrook, Crowley, Fort Worth, Keller, Mansfield, Southlake and Weatherford. They also listed 55 other towns and some great demographics for your review at www.fwtexas.com. Whether you are thinking of buying or selling, we would love the opportunity to work hard and represent your best interest. Go to: www.pamsnowden.com or call us today, 817-441-7707. Buy or Sell A Home With Us.... Use Our Moving Truck For FREE!
The selling season is heating up in Ft. Worth, TX and the DFW metroplex and expected to be a good one because of the First Time Buyer Tax Credit that was recently enacted. The credit is for first time home buyers or anyone who has not owned a home in the last 3 years. This is a great opportunity for people to purchase a home. The money is given in the form of a tax credit and you can amend your 2008 taxes after you close so you don't have to wait til next year to get the money. Please feel free to call Pam or one of our Team members for additional information. Pam 817-690-0976, Mark 817--690-0954 or Alicia 817-680-7786 or you can email Pam at: pam@pamsnowden.com
The Annual Ft. Worth Stock Show and Rodeo is well under way and you don't want to miss it. Will Rogers Memorial Center 3401 West Lancaster Ave. Fort Worth, TX 76107 Jan 16-Feb 8 Highlights, schedule and prices: • Festival grounds admission: - $8, $4 for ages 6 to 16, free for ages 5 and younger • Dickies Day promotion: Jan. 20 - Free admission to the stock show grounds (does not include rodeo admission) for attendees wearing Dickies clothing. Rodeo tickets are $16 and $22 (rodeo tickets include admission to grounds). • Parade: 11 a.m. Jan. 17 - Free admission. - Begins in front of Tarrant County Courthouse (Main at Weatherford). • Best of the West Ranch Rodeo: 7:30 p.m. Jan. 16 and Jan. 17 - $22 per night - Participants from eight Southwestern ranches will compete in events such as calf branding and mutton busting. • Best of Mexico Celebración: 7:30 p.m. Jan. 18 and 2 p.m. Jan. 19 - $16 per day - Event celebrates Mexican rodeo traditions with music, dance and charro-style bull riding. • Bull's Night Out: 7:30 p.m. Jan. 20 and Jan. 21 - $22 - A Professional Rodeo Cowboys Association bull-riding competition. • World's Original Indoor Rodeo: Jan. 23-Feb. 8 - $16 and $22 - This PRCA rodeo that's is billed as one of the best nationwide. The above information was taken from www.guidelive.com website.
According to the Ft. Worth Chamber of Commerce, Fort Worth and Arlington are least likely to experience depreciation in home values over the next two years. We are also ranked fourth in the nation for real estate investing and the best region to relocate families. The U.S. Census Bureau says Dallas/Fort Worth is the fastest growing Metropolitan area in the nation. Fort Worth is the fifth best city for jobs and ranked No. 9 on Fortune Small Business Magazine's list of 100 Best Cities to "Live and Launch" March 2008. So what are you waiting for? Jump in and enjoy the Texas lifestyle! Feel free to call us today, 817-441-7707 or 817-690-0976.
The Fort Worth Real Estate Market is still an attractive place to invest and now is a great time to buy. Prices have slipped downward and there are alot of good opportunities for buyers and investors alike with interest rates at an all time low, now is the time to jump off the fence. In this uncertain financial market we never know how long rates will stay low. Please feel free to call us today and we will be happy to work hard for you, 817-441-7707 office or 817-690-0976 Pam, 817-690-0954 Mark, or 817-680-7786 Alicia.
Real Estate is still moving in our fine City. Upcoming Events: The Red Steagall Cowboy Gathering American cowboy heritage runs from October 24-26 in the Stockyards National Historic District. With an authentic chuck wagon parade and camp, cowboy music, Western swing dances, cowboy trappings and trade show, just to name a few! Tickets are on sale now at www.redsteagallcowboygathering.com.
October 24-29 - it's all the "spooktacular" fun at Fort Worth Zoo's 17th Annual Boo at the Zoo, a safe, family-friendly fall event. Visit www.fortworthzoo.org for more infomation.
Dickies 500 Weekend from October 30-November 2 at Texas Motor Speedway. NASCAR's best drivers take to the track for the Nextel Sprint Cup. Information at www.texasmotorspeedway.com.
There are alot of upcoming events to keep you entertained in the rich Ft. Worth culture. Here's some just to name a few; 1) Day in the District Saturday, September 27 in the Fort Worth Cultural District. Free admission 10am - 5pm. Go to: www.fwdayinthedistrict.org or call for information, call 817-989-5065 2) Jazz by the Boulevard Music and Arts Festival September 19-21, with talents of jazz greats like Buddy Guy, Randy Brecker, Lee Ritenour and David Sanborn. For more information, visit www.fortworthjazz.com. 3) Musicarte de Fort Worth October 3-4 in Sundance Square For more information, visit www.musicartefw.com 4) The Kimbell Art Museum is host to 9 the great Impressionist painters, that offers an array of masterpieces artistic like, Manet, Degas, Monet, Renior, Cezanne, Gaugin, Van Gogh and Toulouse-Lautrec. The exhibit will be through November 2. For more information, visit www.kimbellart.org. Be sure to call the Snowden Team for ALL your Real Estate Needs.
Did you know? *Fort Worth, TX is the 17th largest City in the U.S. The Sheraton Ft. Worth Hotel & Spa is NOW OPEN and less than a block from the Convention Center and Water Gardens *Enjoy The Impressionist June 29- November 2 at the Kimball Art Museum *Bass Performance Hall Mama Mia presented by Casa Manana Sept 9-14
Let the Snowden Team help you with all your real estate needs. With our knowledge and experitise you will enjoy a smooth transaction. Buy Or Sell A Home With Us... Use Our Moving Truck For FREE! The Snowden Team Pam, Mark & Alicia Call TODAY 817-441-7707
There are many opportunities to live, work and play in the Fort Worth. Many people continue to call North Texas their home, thanks to the Barnett Shale. It is the largest of it's kind in North America. If you are thinking about considering a move to North Texas, please call the Snowden Team. They will be happy to help with all of your real estate needs. Visit www.pamsnowden.com or call 817-441-7707 Buy Or Sell A Home With Us.... Use Our Moving Truck for FREE!
The traditional "selling season" is beginning to heat up throughout the Metroplex. If you have been sitting on the fence and waiting to see how low the market will go, experts say NOW is the time. With interest rates at record lows it is a Great time to buy.
The Metroplex has experienced a record high level of foreclosures over the last year, however things are beginning to stablize. The foreclosures are down 16% over last years figures. The traditional "selling season" is beginning to heat up throughout the Metroplex. If you have been sitting on the fence and waiting to see how low the market will go, experts say NOW is the time. With interest rates at record lows it is a Great time to buy.
Despite the negative National News the Ft. Worth Metroplex is doing just fine. Hexter-Fair Title Company reported that there is Strength in High End Sales in DFW Data YTD Nov '07 Sales Price % Change of Last year $300,000. to $399,999. 3% increase $400,000. to $499,999. 5% increase $500,000. to $599,999. 8% increase $600,000. to $699,999. 8% increase $700,000. to $799,999. 22% increase $800,000. to $899,999. 4% increase $900,000. to $999,999. 12% increase $999,999. to $1,000,000. 16% increase So Where is The Housing Bubble? There is no bubble in Texas housing Ignore national news and all sensationalist news Only bad news in DFW real estate is the rising number of foreclosures, as a result of bad lending practices in recent years (subprime, ARM, 100% financing, interest only, no doc, etc) Mortgage Fraud and very little connection to overall economy. Moody's Economy.com forecast Sept '07 Metroplex housing to fare much better than rest of U.S. *Forecast predicts over three-fourths of US housing markets to suffer drops in prices, with an aggregate decline of 8% expected in home prices *Dallas area is forecast to buck the trend, with continued increases of 3% price appreciation expected *Fort Worth predicted to see about a 2% drop in prices *Two primary reasons for Metroplex out performance: 1) Local economy is doing much better than national economy 2) Did not see a big run up in home prices, so only negatives are in sub-prime (mostly below $200,000>) DFW Population Growth moves up to 4th Largest in the Nation with close to 6 million people. Has Texas' largest, most educated workforce (3 million workers) Produces more than one fourth of all goods and services in Texas Leads Texas in public university and community college students (250K students) Exceeds $50 billion annually in direct imports and exports Adds 200 net new jobs and 370 residents every day Crystal Ball: Housing's Next 6 Months The Spring Thaw Activity will once again pick up in February Mortgage bond market likely to rebound somewhat by spring Real Estate is Like the Weather People don't ask "How's the weather in the US?" Instead, they really need to determine the weather in a given market of interest People should do the same with housing!
STRATEGIES FOR TODAY'S REAL ESTATE INVESTOR
The following is an article BY JEFF SCISLOW Shared with his permission to help shed some light on today's market. The Ft. Worth Metroplex market is still going strong. However, the National Media continues to pound the industry with negative news. Therefore, I wanted to share some positive news for those who are interested in investing and the historical real estate record.
For those of us who own investment real estate and/or work with clients who do, the state of the market is presenting some interesting challenges today. These challenges include such things as increasing mortgage payments, decreasing valuations, and in some parts of the country increased insurance and property taxes. The pinch is on and is causing more investors to sell, even "dump" their properties.
As real estate investors, what should we be doing now? When will the market improve and current investors get some relief? Both of these common questions are difficult to specifically answer, but allow me to shed light on them.
The past year has been a tough one for many of us who own investment real estate, especially for those who own in markets that saw strong appreciation in 2003 to 2005. Some of those great gains are being depleted by the current market correction. Even if it's just "on paper," it still hurts to see valuations decline. A number of investors are seeing their negative cash flows swell as a result of increasing mortgage payments. No question, it's getting tough our there!
Should I Sell Now? This is the subjective question that can only be answered by each investor. Objectively speaking, I believe now is the worst time to sell. Many buyers have taken to the sidelines as sellers are out in great numbers. This creates a buyer's market. A buyer's market simply means that the buyers have the advantage. The buyers today are in the driver's seat. They are experienced and know when and why to buy. Whenever a buyer's market develops it is always the best time to BUY, not sell!
The Fear Factor Why then don't more buyers buy in a buyer's market? Initially, one might think inexperience, but the primary reason is fear. Fear that prices will drop further. Fear that they will lose money if they bought now. All the "negative press" tends to get to the masses of people as they wonder, "Maybe the sky is falling, or at least about to fall." Today, fear and uncertainty is keeping people out of the buying mode and creating this buyer's market.
Selling into a buyer's market assures you will sell at or near the lowest price. It books your loss as it provides the buyer a great deal. I'm not saying don't sell in a buyer's market such as this, but ONLY sell if you absolutely have to.
Again, don't sell in a frantic emotional state; it is easy to do. Those who manage their real estate holdings prudently keep their wits about themselves and hold on as they move through a market correction have always come out well down the road. Those who buy in market corrections come out even better.
When Will the Market Recover? This is nearly impossible to predict, but we can rest assured that corrections are only temporary, just as they have been in the past. Real estate prices will rise over time.
Is it Smart to Own Real Estate Today? Owning real estate has many advantages, and of course, some risks. Nothing is risk free, but real estate provides some of the best advantages out there. These include tenants who help pay down our mortgages, governmental tax breaks that lower our tax burdens and offset other income, long-term equity build up on properties that have amortized loans, and of course something solid we can touch and feel. That is why people love real estate!
Over my 16 years as a real estate investor I have had setbacks in various real estate investments. I have lost money in numerous occasions when a tenant damages property or when I have had a vacancy for any period of time. Today, I along with many others am experiencing some losses due to a price correction, increased interest rates, increased taxes/insurance, and in some cases, poor property management. No matter how we look at it, a loss is a loss.
Losses vary in magnitude and never come at the right time. In fact, I experience some form of loss every year! One thing is for sure, as painful as it gets from time to time - I have stayed the course. I keep the faith and resist the negativity and fear. I have a choice; I choose to work through the challenge. As a result, I am far ahead of where I would have been if I had dumped my property when trouble arose, or if I had chosen not to continue to pursue real estate investing after encountering a setback. Overall, there are just too many positive benefits of owning real estate!
I'll say it again - historically property values rise. Over the past 60 years there have been a handful of occasions where the media has hammered the real estate market with negative commentary. At those times real estate seemed to be the worst possible investment. But shortly after all the "bad news" had saturated the market, healthy appreciation returned. Every person I know would love to have purchased real estate back in history when the news was bleak, the buyer on the sidelines and the sellers out in full force.
Allow me to turn back the clock for a moment to drive home my point:
"The price of houses seem to have reached a plateau, and there is reasonable expectancy that prices will decline." -- Time Magazine, 1947
"Houses cost too much for the mass market. Today's average price is around $8,000 - out of reach for two-thirds of all buyers." --Science Digest, 1948
"The goal of owning a home seems to be getting beyond the reach of more and more Americans. The typical new house today costs about $28,000." --Business Week, 1969
"You might well be suspicious of 'common wisdom' that tells you, 'Don't wait, buy now.'" --NEA Journal, 1970
"The median price of a home today is approaching $50,000 Housing experts predict price rises in the future won't be that great." --Nations Business, 1977
"The era of easy profits in real estate may be drawing to a close." --Money Magazine, 1981
"Most economists agree a home will become little more than a roof and a tax deduction, certainly not the lucrative investment it was through much of the 1980's" --Money Magazine, 1986
"Financial planners agree that houses will continue to be a poor investment." --Kiplinger's Personal Financial Magazine, 1993
"A home is where the bad investment is." --San Francisco Examiner, 1996
With all that historical bad press, the real estate market has continued to appreciate despite the media's doom-and-gloom reporting. Check out these numbers!
National real estate values have appreciated:
* 88% since 1996 * 340% since 1977 * 685% since 1969 * 2650% since 1948
The temporary market correction may have real estate investors nervous today, but the market will improve soon and I plan to be in the game and enjoy the rebound!
Jess Scislow is from Minneapolis, Minnesota. He owns dozens of investment properties in Minnesota and Florida and writes regular commentaries on the national and Florida real estate markets. His FREE commentaries are available under "Investor Alerts" on his Web site at www.America2Florida.com.
Please call us if you have any Real Estate needs.
Buy or Sell A Home With Us And Use Our Moving Truck For FREE! Feel free to contact the Snowden Team anytime at 817-441-7707 office, Pam 817-690-0976 mobile, Mark 817-690-0954 mobile, or Alicia 817-680-7786 mobile.
Location Characteristics: Fort Worth is filled with a unique mix of attractions for visitors — from cowboys to culture, from sports to shopping. Explore the legendary Fort Worth Stockyards, the world-class Cultural District, downtown's dazzling Sundance Square, the top-ranked Fort Worth Zoo, Texas Motor Speedway, and so much more.
The Downtown area is booming with high rise lofts and town homes. The most recent is "The Texas & Pacific Lofts" and are about 70% sold at this point. The overall growth is expected to attract millions of dolllars in revenue in 2007 due to the revitalization. Thanks to the unprecedented economic investment in the city, new parks, new projects, new skyline additions and housing opportunitities are abounding throughout the heart of the city.
Forth Worth is a great place to live and work. You will enjoy the friendly people, mild climate, culture and many attractions to enjoy. The housing market is very active and affordable with a lot of choices for buyers moving here from other parts of the country being relocated through Lockheed Martin, Bell Helicopter, American Airlines and theTandy Corportation, just to mention a few. We would be glad to help you select an area that best suits your needs and desires. The prices vary with the area of town that you will choose from.
About Realty World Professionals:
This is the place to find out about Ft. Worth, Aledo, Weatherford, and Parker County Real Estate property listings. Parker County is a wonderful place to live, work, and raise a family. Our community features quality of life, and small town values with the convenience of living close to the Metroplex. Whether buying or selling a home, Let us help you. The articles and links on this website will provide you with most of the information needed for your Real Estate decisions. As experienced Realtors, We are qualified and knowledgeable in all aspects of buying or selling a home. Our goal is to provide you with the highest quality service in today's market. We believe in using our experience in finance, contracts, negotiating, and marketing to your best advantage. With our knowledge of the area and dedication to meet your specific needs, finding your new home will undoubtedly be both a pleasurable & a profitable experience.
Combining our extensive knowledge of Ft. Worth(and surrounding areas) with our expertise in real estate, we will produce results for you. Our commitment is to our clients! We want to help you achieve your dreams by finding the home you are looking for in the metroplex and surrounding areas. Please take a few minutes to shop through our site and be sure to take advantage of the many features offered to you. From the free reports to information about the community & local schools, we would like to share with you invaluable information about buying and selling your home.
If there is any way that we can assist you further, please contact us.
Thank you for visiting our site, we trust we'll be hearing from you soon.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
