Menifee, CA

I am sure that by now, anyone that has been watching the news, reading the papers and reading realestate blogs such as this...they know that interest rates are at an all time low and housing is becoming affordable to those that thought they would never obtain the dream of homeownership, but I just read in the Sunday paper more good news....

LISTEN UP FIRST TIME HOME BUYERS IN MENIFEE AND TEMECULA VALLEY!!!

HERE'S THE GOOD NEWS............

In November of 2006 the median price of a home in Riverside and San Bernardino Counties peaked at $405,500. As of March, 2009 prices have plunged more than 57 percent!!!

This means you can now buy that same house for $173,000! And don't forget that $8000 TAX CREDIT!

MORE GOOD NEWS!

Additionally, 30 year fixed interest rates are now 4.82%, down from 5.88% just one year ago!

I'M NOT DONE YET!...I SAVED THE BEST FOR LAST....!!!

The most astounding news I have to tell you is according to a USC Real Estate Economic Forecast, with the combination of home pricing and low interest rates being at all time lows, the monthly house payment is approaching the AVERAGE RENT in the Inland Empire!! WOW! If that isn't a great reason to buy, I don't know what is!

If you are contemplating on purchasing your first home and have questions about the home buying process, please give me a call today for a no obligation consultation.

"Riverside County New Homes": Riverside County has Many Builder Close Out homes that do not have the prices published on their websites!

"Menifee New Homes": Many have finished yards, granite counter-tops, window coverings and appliances.

I preview and sell new homes to clients who need a quick escrow. Using an agent to help you purchase your new home can result in getting you a better price, HOA fees paid and better interest rate.

Agents who work with the builders, have a relationship with the builder and have done the research to know where the best value in new homes are.

Although there are a lot of great deals, in short sales and Bank Owned homes right now, (if you have the patience), a brand new home can result in a much shorter escrow if you need to move quickly.

Many have Homeowner Association fees. The areas with the Homeowners fees have a lot to offer in the way of amenities such as club houses, swimming pools and some are even built around lakes.

If you are Looking for a New Home there is a lot to choose from. Pricing begins at $150,000 for a condominium.

Single Family homes with good sized yards are starting at $215,000. This is for a 3 bedroom home with everything included: Appliances, (Washer/Dryer), window coverings, landscaping in front and back yards.

Call us toll free for the latest information on Riverside County New Homes!!! (866) 621-0155

Call me for more information regarding Real Estate, in Southwest Riverside County:

Jane Grant ~ DRE: 01109492
Southwest Real Estate, Inc.
Telephone: 866 621-0155

Website: www.soreal.biz
Additional Website: www.servingtemecula.com


Blog: www.janegrant.biz
Blog: www.janegrant.wordpress.com
Blog: http://activerain.com/blogs/janegrant

Trulia Profile: http://www.trulia.com/profile/id/331413

Trulia Profile: http://www.trulia.com/profile/id/331413

MAKING HOMES AFFORDABLE WEB-SITE NEWS!

I recently found a fantastic web-site posted by Treasury Department and the Department of Housing and Urban Development. The web-site is a direct result of the Obama Administration as it addresses basic information for troubled homeowners.

The site is WWW.MakingHomesAffordable.gov. There are 2 sections to the web-site. One section addresses homeowners that have mortgages, make their payments on time but have no equity. An opportunity to refinance may not be impossible if the loan is owned by Fannie Mae or Freddie Mac.

The second section addresses homeowners who are struggling in making their payments for various reasons. The site offers loan modification options.

This is a great site where you can find a financial calculator which walks you through estimating your loan modification payment based on your specific situation.

MENIFEE HOMEOWNERS TAKE ADVANTAGE!

Seeing as I specialize as a Short Sale Consultant, listing and selling homes is not my main motive. My number 1 goal is to help homeowners stay in their homes if I can. I have recently referred some clients to this site and they found that they did have options! Everyone's situation is different. If you are a homeowner experiencing financial hardship, I suggest you check out this web-site to see what your options are!

You can also check out my web-site at www.SherryKHomes.com if you are interested in learning more about the Short Sale process and how I might be able to help.

I read some pretty exciting news in the Business section of the Press Enterprise this morning that I wanted to share.

According to experts the volume of unsold inventory on existing and new homes continue to drop!

The surge of homebuying is a direct result of lower home prices and first time home-buyer's and investors snatching up bargain basement prices on properties. This coupled with interest rates at historically low interest rates (the last I checked you can get a loan for under 5%) means that folks that once felt hopeless that they would never live the American Dream of homeownership are taking advantage of an incredible market.

WHAT'S HAPPENING HERE IN THE MENIFEE AREA?

Just to give you an idea, from a local point of view...I checked the Multiple Listing Service, (a service where Realestates have access to real time information of properties) this morning and ran search on single family homes priced under $200,000 with 1500 square feet or more, 3+ bedrooms and 2+ baths and found only 23 properties available.

I remember running this same search 7-8 months ago and there were literally hundreds of properties available.

TIMES ARE A CHANGIN' !!!

The Press Enterprise reported that '...this latest report is the steepest decline reported to date...' and the decline shows that we could potentially be on our way to a housing recovery. There is a caveat to this however, and that is unemployment rates could dampen the surge. There are also reports that the median price of homes in the Inland area has leveled off.

If you are a First Time Homebuyer or Investor and live in the Menifee area, please give me a call. I can answer any questions you may have about real estate and even help you on your way to homeownership!

I've been getting a considerable amount of inquiries from my buyers here in the Menifee and Temecula areas lately on the $8000 tax credit, so I thought I'd add a bit to my previous post to help explain the program in further detail.

WHO QUALIFIES FOR THE $8000 TAX CREDIT?

If you are a first time buyer, you qualify for this credit!!

If you have not owned a home in the past three years, you qualify for this credit!!

WHAT ARE THE INCOME LIMITS IN ORDER TO QUALIFY?

If you have an adjusted gross income of no more than $75,000 or if you are filing jointly and gross no more than $150,000, you will receive the full $8,000 credit. If you gross between $75,001 and $95,000 as an individual or $150,001 and $170,000 you receive a partial credit.

WHAT IS THE TIME PERIOD I HAVE TO BUY IN ORDER TO BENEFIT FOR THE $8000 TAX CREDIT?

In order to take advantage of this tax credit, you must purchase a home as your primary residence between January 1, 2009 and December 1, 2009.

WHAT ARE MY LIMITATIONS/CRITERIA WHEN PURCHASING A PROPERTY?

So this is how it works. The credit is 10% of the purchase price up to $8,000. In other words, if your home is $80,000 you receive the entire 10%. ($80,000 X 10% = $8,000). If your home is less than $80,000 you receive less than $8,000.

IMPORTANT NOTE: If you already bought a home this year and filed your taxes, you can still claim your tax credit. Simply contact your tax advisor to ammend your taxes.

If you live in the Menifee or Temecula Valley's and need more information on the tax credit, please contact me. I am happy to help with any of your questions.