THE SCRATCHBOARD

In today's INTERNET driven world buying a home "appears" to be simpler than before YET... not so. No matter how you start your initial search, working with a realtor brings important additional information that can save you --THE BUYER -- time and money. Plus stop the whirlwind of choices. A Realtor who knows the market, the subdivivisions, and exactly what you would like to buy, is able to help you make the best choice in a short period of time. A realtor is educated, market savy, and here to answer any questions. What real estate questions do you have that you've not been able to get answers for? Give a REALTOR a call. If she's smart and she doesn't know the answer, she'll at least know where to get the answers, all you need to do is ASK.

Hello Everyone,
We thought you may be interested in the new Stimulas Plan and what specifically applies to
Real Estate, more specifially Buyers. *Note this information has been provided by University of Southern Alabama Economics Department, and we have been given permission to post . Also note this is just an excerpt from the entire article.

On Tuesday, February 17, 2009, the American Recovery and Reinvestment Act of 2009 (H.R.1) was signed into law by President Obama. The $787 billion economic stimulus package will impact a vast number of areas in the U.S. economy and the President is hopeful that the broad spectrum spending injection will initiate upward movement in all economic and geographic areas of the United States.
The real estate market benefited from a number of the Act's provisions.
Homebuyer Tax Credit – "The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser."

Rural Housing Service - "The bill provides an additional $500 million to existing USDA Rural Housing programs. The RHS provides both a guaranteed loan program and a direct housing loan program for those meeting the program’s eligibility criteria. The direct loan program will receive $270 million while $230 million will be allocated for unsubsidized guaranteed loans. It has been reported that this level of funding would provide for an additional 192,000 homeowners."
The Final Text of Conference Reports on H.R.1-The American Recovery and Reinvestment Act of 2009 can be found at the following location: http://www.whitehouse.gov/the_press_office/arra_public_review/

*Important Note: This information presented does not purport to contain all of the specifics of each category and should not be counted on to give all of the requirements for each item. Also note the information obtained, has been given permission to foward to interested parties. They are high level overviews only and cannot be guaranteed to be free from error or to contain all of the specific requirements. Please review all programs that you are considering at length with a qualified professional, lawyer or with the specific government agencies for full and complete details to participate in the programs.

The saying Don't Judge A Book By It's Cover is true in many cases but perhaps not for consumers who are looking to buy a new home. Some homes may be beautiful on the inside but need a good bit of work on the outside. With lots of competition in the market for buyers, a well maintained outside can be just the thing to get the shopper inside. If the inside is great but the outside isn't, one riding by might just pass you by. Therefore, making a good first impression may be key to selling you home. Remodeling just might be just what your home needs and chances are good that most of the money spent will come back to you in the sell of your home. In fact, for the 2nd year in a row the 2008 Remodeling Cost vs Value Report has found that homeowners get the best return on their investment through exterior remodeling. As realtors, we know what catches the buyers eye. Wood deck additions and siding replacement returns more than 80% of their cost upon sale. Upscale fiber cement siding recouped 86.7% followed by wood decks at 81.8%, mid range vinyl siding siding at 80.7% and upscale foam backed vinyl siding at 80%. So in closing, if you are planning to sale your home in the near future, step outside and see what needs to be done to put your home at the top of a buyers list. If you need help in making that decision please call me, Jan McNair at 251-610-0094. I would be more than happy to help. Facts coming from realtor.org.

The purchase of a home is a major financial commitment. The weak real estate market means you should exercise even more care. Don’t let excitement about buying your dream home cause you to forget following these tips.

* Before you start, analyze your expenses and decide how much you can afford to pay for a home. Set an upper limit for your home’s purchase price and don’t exceed it.

* Consider how your down payment will impact your home’s financing. Expect to put down at least 10% to 20% of the purchase price.

* Familiarize yourself with housing price in the area.

* Choose a home you’ll be comfortable living in for several years.

* Sell your current home before buying another home.

* Consider resale value while you are purchasing.

* Get a professional inspection.

* Review your options before selecting a mortgage.

So I found this statement below on an "Amazing Facts" website.  And we thought the downpayments of today were painful!!!  Do you think this is fact or simply a myth??