The long awaited extension of the $8,000 Tax Credit for First Time Homebuyers has finally happened.
And, Washington added something for many of you who already own a home or did not qualify as a "1st timer" because you had owned a home recently. There is a $6,500 tax credit for you, the "Move-Up" buyer. If you have lived in your own home for 5 consecutive years out of the past 8 years, you probably qualify.
The new and improved program does have some income requirements, but they are more generous than the past income limits. Effective November 7, the income limit is $125,000 for a single buyer and $225,000 for a couple. Above these incomes, the credit begins to shrink until you are no longer eligible at $145,000 (single) to $245,000 (couples).
You will need to buy between November 7, 2009 and April 30, 2010 and the purchase needs to close before July 1, 2010. But that is a lot of time to work out the details, if you don't wait until the last minute (again).
Senators have been heard to say "There will be no more extensions of this tax credit." So don't miss out this time.
For all your real estate needs in the Greater Chattanooga, Tennessee Real Estate market, you can always find me at Upward Realty.com
Monday, November 9, 2009
Tuesday, October 13, 2009
Last Chance - 45 Days to Close...
We are now about 45 days away from the November 30th deadline for the $8000 First Time Homebuyer Tax Credit. Time is slipping away.
My sales team and I are working with a number of anxious buyers this week, but we can still help you find the right house. We will need the help of a top notch lender who can get a loan processed without unnecessary delays, but we still have a very good shot at closing by the deadline.
If you are even close to ready, you need to get with your agent NOW. If you don't have an agent, you can contact anyone on my team for help.
Just a reminder, it is taking over 30 days in most cases to get through the loan process at present. Also, we have the Thanksgiving Holidays coming up at the end of November and you know mortgage companies will be closed for at least 2 days that week. Time is not something you can now waste and still get the money!
Your Realtors® for life are the professional sales staff at Upward Realty.com
© 2009 UpwardRealty.com
My sales team and I are working with a number of anxious buyers this week, but we can still help you find the right house. We will need the help of a top notch lender who can get a loan processed without unnecessary delays, but we still have a very good shot at closing by the deadline.
If you are even close to ready, you need to get with your agent NOW. If you don't have an agent, you can contact anyone on my team for help.
Just a reminder, it is taking over 30 days in most cases to get through the loan process at present. Also, we have the Thanksgiving Holidays coming up at the end of November and you know mortgage companies will be closed for at least 2 days that week. Time is not something you can now waste and still get the money!
Your Realtors® for life are the professional sales staff at Upward Realty.com
© 2009 UpwardRealty.com
Tuesday, September 22, 2009
60 Days to Close - Last Chance for $8000 Tax Credit
The $8000 tax credit for first time home buyers is set to end November 30th. This is like getting an $8000 discount on your dream home.
With new mortgage and appraisal procedures in place, it is now taking 45 to 60 days to close a new loan. Sooooo...you need to find your new home and make your purchase in the next few days. Time is running out. If you wait another two or three weeks, you run the risk of not closing by November 30th.
Remember, we have holidays in November and mortgage lenders close their offices during holidays... Now could be your last chance to qualify for this tax credit.
There are a number of good home buys available in the Chattanooga area, so lets get started before we lose more time. At UpwardRealty.com, we know what it takes to help home lookers become home owners.
© 2009 UpwardRealty.com
With new mortgage and appraisal procedures in place, it is now taking 45 to 60 days to close a new loan. Sooooo...you need to find your new home and make your purchase in the next few days. Time is running out. If you wait another two or three weeks, you run the risk of not closing by November 30th.
Remember, we have holidays in November and mortgage lenders close their offices during holidays... Now could be your last chance to qualify for this tax credit.
There are a number of good home buys available in the Chattanooga area, so lets get started before we lose more time. At UpwardRealty.com, we know what it takes to help home lookers become home owners.
© 2009 UpwardRealty.com
Saturday, September 5, 2009
$8000 Tax Credit - A Limited Time Offer
The $8000 tax credit for first time home buyers will end on November 30th. If you want to take advantage of this program, you MUST close the purchase of your home by that date. If December 1st comes and you have not closed, you will not get the money.
Of course, Congress could extend the program, but are you willing to gamble on that? That could be an $8000 bluff to call if you are wrong.
There are a lot of rumors floating around about a $15,000 tax credit coming next year, but that is still just an unfounded rumor. If the market is truly now in recovery and sales will slowly start to climb as the "experts" are starting to predict, then why would the government need to give back $15,000 - enough people are already mad about the $8000 program and the "Cash for Clunkers" programs.
If you are a first time home buyer (which means you have not owned a home in the last three years), then the money is waiting right now ... until November 30th.
In the last 2 years there have been many changes to loan processing in the mortgage market and closings are no longer 2 weeks to 30 days. Many mortgage loans are taking up to 45+ days and often 60 days to close.
Right now, we are telling buyers that the safest way to make sure you get in on the tax credit is to be in escrow by October 1st (the 15th at the absolute latest). That means you need to find the home, negotiate the contract, and get your loan application started by the end of this month - yes, it is now September.
We have helped a number of buyers take advantage of this program already. If you need a professional Realtor® who understands the urgency of this process, then check me out on the web. My company is UpwardRealty.com and we can deliver for you in the Greater Chattanooga, Tennessee area. We have some calculators on our site that can help you look at payments for different mortgage amounts.
Disclaimer: I am a Realtor®, I am not a tax advisor, so please check out the $8000 Tax Credit with your accountant or the tax advisor you use. They can fill in all the little details for you, so you understand how it will work for you personally.
© 2009 UpwardRealty.com
Of course, Congress could extend the program, but are you willing to gamble on that? That could be an $8000 bluff to call if you are wrong.
There are a lot of rumors floating around about a $15,000 tax credit coming next year, but that is still just an unfounded rumor. If the market is truly now in recovery and sales will slowly start to climb as the "experts" are starting to predict, then why would the government need to give back $15,000 - enough people are already mad about the $8000 program and the "Cash for Clunkers" programs.
If you are a first time home buyer (which means you have not owned a home in the last three years), then the money is waiting right now ... until November 30th.
In the last 2 years there have been many changes to loan processing in the mortgage market and closings are no longer 2 weeks to 30 days. Many mortgage loans are taking up to 45+ days and often 60 days to close.
Right now, we are telling buyers that the safest way to make sure you get in on the tax credit is to be in escrow by October 1st (the 15th at the absolute latest). That means you need to find the home, negotiate the contract, and get your loan application started by the end of this month - yes, it is now September.
We have helped a number of buyers take advantage of this program already. If you need a professional Realtor® who understands the urgency of this process, then check me out on the web. My company is UpwardRealty.com and we can deliver for you in the Greater Chattanooga, Tennessee area. We have some calculators on our site that can help you look at payments for different mortgage amounts.
Disclaimer: I am a Realtor®, I am not a tax advisor, so please check out the $8000 Tax Credit with your accountant or the tax advisor you use. They can fill in all the little details for you, so you understand how it will work for you personally.
© 2009 UpwardRealty.com
Thursday, April 2, 2009
EXIT Upward Realty Creates In-House Academy
Best Trained Agents to be Recognized
Press Release:
Chattanooga/Hixson, Tennessee (Grassroots Newswire), April 2, 2009 --
UpwardRealty.com has created an in-house training academy for their agents. The new program is known as the Upward Academy and began enrolling agents at the end of March. The academy organizes and advances the extensive training the Company has always offered.
"I am very excited to be able to recognize our best agents," said Raymond Warren, Broker/Owner of UpwardRealty.com. "We are proud of the dedication and hard work of our sales team. We want each of them to know their company has great expectations of them, but will support them in achieving those expectations. We can best serve the public by offering them the very best trained agents to represent them."
With enrollment in the designation program of Upward Academy, the agents can earn the Graduate Upward Academy (GUA) designation that identifies them as one of the best in the business. Agents must complete extensive in-house and outside training programs. The education consists of EXIT Boot Camps and other specific industry approved classes. In addition to education, to earn the GUA, agents must complete a minimum number of closings prior to receiving the designation. The agent must also be in good standing with the Company, State Regulators, plus all local, state, and national Realtor® associations. Once enrolled, the agent has 24 months to meet the requirements for designation.
The designation program is available to all UpwardRealty.com sales agents at no charge. Agents with other companies may interview for sales positions with the company and if accepted may pursue the designation. Or see career opportunities here.
For more information about UpwardRealty.com or Upward Academy, please call 423-847-8001. UpwardRealty.com is located at 6726 Hixson Pike, Hixson, TN 37343. Or click here.
Press Release:
Chattanooga/Hixson, Tennessee (Grassroots Newswire), April 2, 2009 --
UpwardRealty.com has created an in-house training academy for their agents. The new program is known as the Upward Academy and began enrolling agents at the end of March. The academy organizes and advances the extensive training the Company has always offered.
"I am very excited to be able to recognize our best agents," said Raymond Warren, Broker/Owner of UpwardRealty.com. "We are proud of the dedication and hard work of our sales team. We want each of them to know their company has great expectations of them, but will support them in achieving those expectations. We can best serve the public by offering them the very best trained agents to represent them."
With enrollment in the designation program of Upward Academy, the agents can earn the Graduate Upward Academy (GUA) designation that identifies them as one of the best in the business. Agents must complete extensive in-house and outside training programs. The education consists of EXIT Boot Camps and other specific industry approved classes. In addition to education, to earn the GUA, agents must complete a minimum number of closings prior to receiving the designation. The agent must also be in good standing with the Company, State Regulators, plus all local, state, and national Realtor® associations. Once enrolled, the agent has 24 months to meet the requirements for designation.
The designation program is available to all UpwardRealty.com sales agents at no charge. Agents with other companies may interview for sales positions with the company and if accepted may pursue the designation. Or see career opportunities here.
For more information about UpwardRealty.com or Upward Academy, please call 423-847-8001. UpwardRealty.com is located at 6726 Hixson Pike, Hixson, TN 37343. Or click here.
Saturday, February 14, 2009
Chattanooga's Stimulus Package is VW
Those who know me have heard me say "As goes housing, so goes the economy." Which means that when the local housing market is healthy, the local economy is healthy. Those of you who share this belief with me, were probably disappointed not to see more housing in the "stimulus bill" that passed in Washington this week.
There was a $15,000 tax credit in this stimulus bill at one time, a credit that anyone could use if they just purchased a home for their personal residence. With all the back and forth between the polical interests and Senate and House, that provision disappeared from the final bill. Too bad, it would have helped immediately. Maybe it will come back soon in a housing stimulus bill.
But keep this in mind, people need jobs to buy houses. In Chattanooga, we are eager to see the 2000 new jobs promised by the $1 billion VW plant, but the real excitement should be for the 9,000+ new jobs that the VW suppliers will bring to the region. That means new jobs, which means housing gets healthier in the whole area.
In an article in Automotive News magazine on February 2, 2009 there is a discussion about these new employment opportunities in our area. The article talks about automotive suppliers expectations for the future. This is good news for the local economy. VW and their suppliers are in essence a "stimulus" program for all of us who live and work in this area. Thanks to the Chattanooga Area Chamber of Commerce, you can Click here to read the article.
Chattanooga is patiently and positively waiting with excitement.
There was a $15,000 tax credit in this stimulus bill at one time, a credit that anyone could use if they just purchased a home for their personal residence. With all the back and forth between the polical interests and Senate and House, that provision disappeared from the final bill. Too bad, it would have helped immediately. Maybe it will come back soon in a housing stimulus bill.
But keep this in mind, people need jobs to buy houses. In Chattanooga, we are eager to see the 2000 new jobs promised by the $1 billion VW plant, but the real excitement should be for the 9,000+ new jobs that the VW suppliers will bring to the region. That means new jobs, which means housing gets healthier in the whole area.
In an article in Automotive News magazine on February 2, 2009 there is a discussion about these new employment opportunities in our area. The article talks about automotive suppliers expectations for the future. This is good news for the local economy. VW and their suppliers are in essence a "stimulus" program for all of us who live and work in this area. Thanks to the Chattanooga Area Chamber of Commerce, you can Click here to read the article.
Chattanooga is patiently and positively waiting with excitement.
Thursday, January 22, 2009
Bargain Hunters - THIS is your real estate market!
Everyone loves a deal, but some folks only want a great deal! If you are one of those investors or homebuyers that want the deal of a lifetime, then you should be alert to the current real estate market. Here are the simple reasons.
- Low prices - most sellers (if they still are in the market) have learned that the prices of two years ago are not possible to get today. So prices have moderated some, as much as 10-40% lower than in 2006-7 in some markets.
- Low mortgage rates - interest rates are low, some 30 year rates below 5% do exist. AND, lenders DO have money to lend. FHA and VA are the most popular programs being used by the majority of buyers and they are having no problem finding money if their credit scores are good.
- Great selection - in many markets Realtors® are reporting as much as 10-12 months of inventory. That means buyers can find the house they really want in most markets.
- No competition - the days of multiple offers with buyers bidding up prices to amounts higher than listing prices are gone for the time being. Only in a very limited number of markets are buyers facing any competition at all. So sellers are having to negotiate.
- Great move-up opportunities - Seller may take a hit on their current home, but (due to reasons 1-4 above) most sellers are more than making up the difference on their new home. They are realizing that if they move up now, they can take advantage of lower prices on their dream home. And with lower interest rates they can keep saving for many years with lower than normal house payments.
So if you are bargain hunter, we need to be talking RIGHT NOW, before the market shifts. Just a small increase in mortgage rates can cost you thousands of dollars over the life a typical home loan.
Your Action Plan: Check out my company or my personal website and contact me for a confidential review of your market readiness. Or just drop me an e-mail at Info@UpwardRealty.com. You enjoy saving money and I enjoy helping people save money, so lets have some fun.
© 2009 UpwardRealty.com
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