Crazy neighbors. From time to time we all have had them, our friends or family lived next door to them, or just heard some stories that seem to come right out of the movie “The Burbs“.
Today, I was talking with a previous client and she shared her recent experiences. Living in the golf course community of Gleneagle in Arlington, one wouldn’t expect to find to much craziness. This is not the case of Julie (real name not used).
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It has been said that necessity is the mother of all inventions and it seems the real estate industry is finding itself coming up with new ideas. A few years back, prior to the real estate collapse, consumers didn’t have the means to quickly identify properties as short sales, bank owned, or what can be considered a standard seller.
Before getting into the new changes it is probably worth reviewing a little history preceding the changes. The problem arose when excited buyers would inquire on a home to why the listing price was so much lower than competing homes. Feeling like they found the buy of the century and anxious to write a Purchase and Sale, buyers were quickly discouraged upon finding out the property was in a short sale situation.
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As the second to last day of 2009 is upon us, I would like to take a moment to reflect on some things that I will associate with this year.
First Time Homebuyer Tax credit
From January to November sales in Washington increased from 2,650 total units to 5,523 total units with the highest month being October with 5,970 total units. During that time, even with rising unemployment rates, buyers who where on fence turned out in record numbers to capitalize on low housing prices, an abundance of inventory, and government incentives like the First Time Homebuyer Tax Credit. It is hard to discount the effects of the tax credit on sales but for 2010 it will take much more than incentives to get the economy going.
*June 2006 there was 11,187.00 total units closed.
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The cold winter is in full effect and the amount of rain fall and cold weather will definitely be felt walking out the door. The holidays are here, money is tight, and putting more green in your pocket while doing a small part for the environment.
The biggest cost homeowner’s face during the winter is heating. The cooler winter temperatures can produce higher and higher heating bills. Homeowner’s can combat this trend by taking a look at their attic’s insulation. Heat rises and the attic maybe the last place you think heat, and more importantly energy, is lost.
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To help stimulate the economy and help recent home buyers, the government has instituted the first time home buyer tax credit under the Housing and Economic Recovery Act of 2008. The first time home buyer tax credit allows for recent home purchasers to claim a maximum tax credit in the form of a interest free loan and/or a permanent loan from the government, depending on when the home purchased.
The first home buyer tax credit applies to a home purchased between the dates of April 8, 2008 and December 31, 2008. If a home buyer purchased a home within that range they are eligible for a $7,500 maximum tax credit which can be claimed on a 2008 return. This allows for people to receive more money back on a return or have money applied to taxes owed. But this is not a free and clear plan to get $7,500 government dollars.
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Homeowners will get a tax break this year and I am not referring about the first time home buyer tax credit or extension. Homeowners who invest in energy efficient household items will be eligible for tax credits if purchased between January 1 and December 31, 2010. In addition to December 31, 2010 cutoff date, there are the Products Purchase before & on/or after June 1, 2010. Product Purchased on/or after will be held to tighter restrictions that the Products Purchase before June 1, 2010.
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Today President Obama spoke on job creation and how America needs to “spend our way out of this recession”. The plan touches on job creation through major infrastructure projects, tax incentives for small business owners (which don’t seem to impact the mom & pop businesses), and take the monies not spent from TARP and inject them into job creation instead of deficit reduction.
Looking at the national unemployment rate of 10.2%, local unemployment rate remains at 8.8%, it is hard to argue that Americans need jobs to aid the national recovery process. The flip side of Obama’s job creation plan is a further increase in the national deficit. So far the Republicans have been very vocal about this section – funny – as they where in control when the deficit was rising faster than any other time in history.
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Ask any real estate agent the answer to that question and it is all the same – Right Now! Wish that was the case though. The right time to buy is not an impulse decision. It is a well thought out and planned decision because the home ownership landscape and dramatically changed over the last few years.
Even though 2009’s data shows an increase of property sales exceeding an increase of a 100% (114% to be exact), a healthy economy was not the precursor. The First Time Home Buyer Tax credit was the major driving force in 2009’s sales – buyers seized the opportunity to receive a government bonus while purchasing a home that maybe undervalued.
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Tonight is exciting. A few moments ago the new website went live.
Website Changes and Upgrades
Listings and Listing Pages
In BARE.1.0 real estate listings where built into the blog section of the website. The result made the blog bi polar with informational posts intermixed with client listings. Now that has changed. Real estate listing are created on their own individual page along with higher detailed market content. This is new for localized real estate websites. A combination of Wordpress plugins download data from known sources.
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The sport of snowmobiling is growing every year and it easy to see why. Snowmobiling offers a wonderful family and friends experience as opens up opportunities to see Washington’s back country scenery. If you are like me, you can’t get [...]
It has been said that necessity is the mother of all inventions and it seems the real estate industry is finding itself coming up with new ideas. A few years back, prior to the real estate collapse, consumers didn’t have [...]
As the second to last day of 2009 is upon us, I would like to take a moment to reflect on some things that I will associate with this year. First Time Homebuyer Tax credit From January to November sales in Washington [...]
Snowmobile Parks in Washington State
The sport of snowmobiling is growing every year and it easy to see why. Snowmobiling offers a wonderful family and friends experience as opens up opportunities to see Washington’s back country scenery. If you are like me, you can’t get enough of the deep powder, hill climbing, and the great trails to make your adrenaline race.
Last winter, a friend and I took 18 people which have never experienced the sport out for a three day weekend trip. I found it very rewarding for them, along with myself and a repeat trip is already in the making. Snowmobile parks in Washington State are some of the best around. There are more than 100 snow parks in the State of Washington with 80 designated for snowmobiling. Every snow park has its advantages and disadvantages and your skill level will determine which snow park is most suitable for you. Here is a list of snow parks that I enjoy to visit in no particular order.
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