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Posts tagged tax credit

Buy Now to Get the Tax Credit!

Mar19
2010
Leave a Comment Written by Shanna

Home buyers, there’s still time to lock in a home purchase before the federal tax credit’s April 30 deadline. True, you won’t have several more months to look around, but you will have a pretty big incentive sweetening the deal if you don’t wait.

Here’s how to find and buy the home of your dreams fast.

1. GET PREQUALIFIED FOR A MORTGAGE.
No sense visiting homes if you can’t afford them. Getting prequalified for a mortgage lets you know exactly what you can or can’t afford to spend. Then you’re ready to search. Plus, this will make sellers more comfortable with accepting an offer from you, and it will make the process faster once your offer is accepted.

2. SEARCH ONLINE.
Hands down, the fastest way to find your next home is by researching listings online. Rather than spending days at a time touring different properties, you can point and click your way through hundreds of homes in one evening. Go to BuyOwner.com now to search for for-sale-by-owner residences in your price range!

3. NARROW DOWN RESULTS & GO VISIT.
After you’ve done your online research, looking at what’s available and comparing prices, narrow down the list of possibilities. Call Buy Owner sellers directly (eliminate the middle man by buying FSBO!) and schedule showings. When you visit, know what questions to ask, and know what you’re prepared to offer.

4. MAKE AN OFFER.
Because you’ve already been preapproved for a loan and because you’ve researched other for-sale properties, you are well-prepared to make an offer on a home. For more information on this step, see Buy Owner Blog article, “Making an Offer.”

And voila! Assuming the paperwork all goes through on time, you’re set to qualify for the tax credit, move into your new home and begin enjoying life in it!

Posted in Buying Tips, Tips and Ideas - Tagged buying for sale by owner, federal tax credit, fsbo home buying, home buying
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Right Pricing Still Sells Houses

Feb04
2010
Leave a Comment Written by Shanna


Turns out, at least according to a recent NAR survey, it’s not the tax credit that’s motivating buyers—not primarily anyway. It’s more wanting to own a home and finding good pricing.

from “Cheaper Prices–More Than Tax Credit,” U.S. News & World Report:

  • “But in a recent NAR survey, only 6 percent of first-time home buyers—who made their purchase during the 12 months ending last June—cited the tax credit as the primary reason behind their decision.”
  • The article goes on to say:

  • “The tax credit was the fourth-leading ‘primary’ reason first-time buyers made their purchase, according to NAR’s 2009 profile of home buyers and sellers. At 62 percent, the desire to own a home was the leading reason, followed by the affordability of homes (10 percent) and a change in family situation (8 percent).”
  • So what does this mean for you as a home seller?

    1. Don’t rely on tax credits to motivate buyers towards your property.
    2. Be proactive in pricing aggressively to attract interest.

    For more information on pricing, see these Buy Owner Blog articles:

    • Top 3 Selling Mistakes
    • The Basics of Pricing Your Home
    • 5 Price Tags of Overpricing
    • How Not to Sell Your Home This Spring
    Posted in Market News, Tips and Ideas - Tagged how to sell a home, Market News, pricing, real estate market, selling a home
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    Why Now’s the Time to Buy

    Dec08
    2009
    Leave a Comment Written by Shanna

    hourglass

    Listen, now is the time to buy your next home. There are a lot of homes for sale, motivated sellers selling them, some pretty sweet tax credits offered to you if you do and, as if all that weren’t enough, there’s the benefit of no commissions when you buy a home advertised at BuyOwner.com.

    Think about it:

    LARGE INVENTORY: It’s as simple as a shopping mall—all those stores, put together, means more options for you and more of a chance that you’ll find exactly what you want, whether it’s a red turtleneck sweater with Santa on the front or a pair of brown leather gloves with white stitching on the side. More homes on the market means more homes for you to choose from.

    MOTIVATED SELLERS: Just like retail chains compete with sales around the holidays, trying to buy your business and win your shopping dollars, so too are today’s home sellers looking to get your offer. You’ll find more incentives and better prices, designed to sweeten your sale even further.

    TAX CREDITS: Recent changes to the home-buying tax credit have turned this into the perfect time to buy your new home. Not only has the first-time-buyer credit been extended, but an additional $6,500 credit has been added for certain repeat home buyers. Buy a home before next spring, and you’ll get 10% back, up to $8K for new buyers and $6.5K for those of you who’ve lived in your previous home for at least five of the last eight years.

    NO COMMISSIONS: Just because there are no commissions with Buy Owner doesn’t make the savings any less valuable. Find your next residence at BuyOwner.com and enjoy the peace of mind that comes with no added agent commissions! That’s money in your pocket, on top of all the other savings specific to this point in time.

    What are you waiting for? The time to buy is now! Head over to BuyOwner.com to start shopping!

    Posted in Buying Tips, Tips and Ideas - Tagged buying a home, Market News, real estate market
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    Tax Credit Extended!

    Nov12
    2009
    2 Comments Written by Shanna

    calculator As of last week, the $8,000 home buyer tax credit has been extended, ending next spring instead of at the end of this month. Plus, there’s a new credit for qualifying existing home owners.

    What does this mean for you?

    FIRST-TIME BUYERS: You have more time to find your first home and still qualify for as much as 10% of your new home in the $8K credit. Condition: This extension only applies to homes purchased for more than $800,000.

    EXISTING HOME OWNERS: If you’ve lived in your primary residence for at least five of the last eight years, you also qualify for a special credit of $6,500.

    Other special conditions: There are some income limits that apply. For more information, see this Wall Street Journal article.

    Posted in Market News, Tips and Ideas - Tagged Market News, real estate, real estate market
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    Welcome to the BuyOwner.com Blog, your source for regularly updated market information!

    Founded in 1984, BuyOwner.com® is the leading provider of real estate marketing services. We pioneered the "For Sale by Owner" (FSBO) market, which today represents over 20 percent of all residential real estate transactions.

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