Your Broker:

Tom Stachler
January 2010
Real
"Washtenaw County's Leading Buyer Representative"






Move-Down Buyers Can Be Eligible For Tax Credit Too

  Move up, move down, move sideways; it just doesn't matter. Whichever direction you move, financially, you may still qualify for the new tax credit available to current homeowners. It is unfortunate that the credit has too often been characterized as a credit for "move-up" homeowners. The phrase carries the implication that the new home must cost more than the sale price of the former one. Indeed, even the November 6 White House Press Release said that the credit would be available to qualified homeowners who "wish to step up to a new home." Same implication.


Mortgage Rates


View current rates



U.S. averages as of December 24, 2009:

30 yr. fixed:   5.05%
15 yr. fixed:   4.45%
1 yr. adj:        4.38%




      So, it is worth emphasizing that the credit is equally available to homeowners who are moving down, cost-wise.
      The move-down homebuyer is not an unusual phenomenon. For years retirees



Wondering What Your Property Is Worth?

Let me show you.





Real Estate Resolutions 2010

     Sure you can lose weight, get in shape, launch a business or find a new job. But haven't you also procrastinated long enough about buying a home?
      How long has it been since you upgraded your home with a new roof, spiffed up landscaping or pulled some other home improvement?
      And that post-World War II ranch home of yours could certainly use a few energy efficient do-overs.
      Look to low mortgage interest rates, bargain home prices and other favorable market conditions to give you the resolve to consider home sweet home in your list of must-dos next year.
  • Join the nearly 18 percent of Americans who say they've resolved to become a first-time homebuyer in 2010, according to a new Move.com survey. That's both a smart move and a timely one. Mortgage rates are at record lows, prices are down and the $8,000 first-time home buyer tax credit has been extended until April 30, 2010. It's also been expanded to include a $6,500 tax credit




  • How to Save to Buy a Home

         It can be one of the hardest things to do -- save money for your first home. But now, more than ever, there's incentive to buy. Government housing tax credits have been extended and that's sparking buyers' interest.
          Reports show that U.S. homes sales increased 10 percent in October to the highest level since February 2007. The tax credit, less expensive homes, and lower mortgage rates are being credited. However, while the government is helping to support the purchasing of a home, many Americans still can't afford to buy one.
          "Most Americans are spoiled. Most Americans spend a lot of money on discretionary items," says Eric Tyson, co-author of Home Buying for Dummies, 4th Edition. "What it really comes down to is you have to be motivated to look at where are you currently spending money and what discretionary spending can you cut off," says Tyson.
          So how do you get in a position to buy a home? For some the process can seem nearly impossible. First-time homebuyers are often fearful they'll never be able to accumulate a down payment now that stricter guidelines are being enforced for taking out home loans.
          Tyson says to look over your finances and see where things can be cut

     


    Click on New Listing to View

    2 Acre Chelsea Lots
    click here

    A2 Ranch 3BR/2B
    Close to Park
    $169K
     

    loading....





    WIN DINNER FOR TWO
    WEBERS INN ANN ARBOR
    Just Click To Enter

         

    Click Here to enter the drawing!

    Win FREE Dinner for Two
    Webers Inn of Ann Arbor
    For a Great Evening Out!

    Want Flooring, Cabinet,
    Contractor or Appliance Discounts?

    Click Here to Use My Builder Discounts!

    Get Free MLS reports

    Click this Image
    For Direct MLS Access

    Tom's Recommended Links




    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.



    More Articles


    December Round Up: Rates Still at Incredibly Low Levels

    2010 and Rebuilding or Protecting Your Credit Score

    Real Estate Investors Returning to Market

    Avoiding 7 Costly Mistakes of Selling Your Home



    Tom Stachler, BROKER,ABR,SHS
    E-mail: tom@RE4SALE.net
    Web: http://www.TheRealtyTour.com
    Cell: (734) 516-2000
    Fax: (734) 661-0102

    Real Estate One
    (734) 996-0000
    555 Briarwood Circle
    Ann Arbor, MI 48108


    Equal Housing Opportunity


    E-mail this Newsletter to a friend