Martha Chamberlain

"Life will give you whatever experience is most helpful for the evolution of your consciousness."

                                        Eckhart Toile......

 

                                                                                                             

 Working with more and more "first time home buyers" I am asked many questions regarding the Tax Credit for them.  Here are some of the questioned asked and a helpful guide to "The American Recovery and Reinvestment Act of 2009".

1. Who is eligible to claim the tax credit?

First time buyers purchasing a home new or resale are eligible for the tax credit.  To qualify for the creit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009.  These dates are used when the closing occurs and the title to the property transfers to the home owner.

2. Is this "Tax Credit" only for buyers that have never owned a home?

The law defines "First Time Home Buyer" as a buyer who has not owned a principal residence during three year period to the purchase.  For married buyers, the law tests the homeownership history of both the home buyer and his or her spouse.

3. Do I recieve the full $8,000.00?

That is determined by the purchase price.  The tax credit is equal to 10% of the home's purchase price up to the amount of $8,000.00.

 4. Can the tax credit be used on condo's and townhomes or just single family?

The tax credit can be used on any residential property.  This must be your principal residence.

 There are many other questions that our first time home buyers are asking regarding the Tax Credit.

Working with first time home buyers is an enjoyable experience.  Helping them get on the roller coaster and sitting next to them on this ride with peaks and valleys, loops and turns and then the rush is over.  They did it!!! They have the keys to their first home in there hands.  What a feeling, words can not explain.

 

WANT THE CHANGE...BE INSPIRED BY THE FLAME.

Rilke

Week of April 26,2009 through May 2, 2009

TOTAL OF WESTON PENDING SALES - FIFTEEN

TOTAL OF WESTON CLOSED SALES - THIRTY FOUR

ADDRESS OF CLOSED SALES LIST PRICE SOLD PRICE

1. 434 Conservation Dr. $ 278,4000.00 $ 270,000.00
2. 3840 Tree Top Dr. $ 250,000.00 $ 237,000.00
3. 597 Racquet Club Dr. $ 159,900.00 $ 151,400.00
4. 3876 San Simeon Cr. $ 199,900.00 $ 201,000.00
5. 16212 Laurel Drive $ 112,000.00 $ 111,000.00
6. 630 Stanton Lane $ 345,000.00 $ 335,000.00
7. 1500 Canary Island Dr. $ 274,900.00 $ 262,500.00
8. 156 Cameron Dr. $ 289,900.00 $ 280,000.00
9. 149 W. Bayridge Dr. $ 265,000.00 $ 260,000.00
10. 341 Lakeview Dr. $ 109,900.00 $ 105,000.00
11. 16325 Golf Club Rd. $ 169,900.00 $ 150,000.00
12. 1326 Seagrape Cr. $ 247,500.00 $ 250,000.00
13. 1635 Eastlake Way $ 389,900.00 $ 345,000.00
14. 4278 Foxtail Lane $ 236,000.00 $ 238,000.00
15. 4006 Crossbill Ln. $ 499,000.00 $ 499,000.00
16. 1471 Barcelona Wy. $ 164,000.00 $ 164,000.00
17. 1430 Sorrento Dr. $ 175,000.00 $ 145,000.00
18. 1494 Lantana Ct. $ 499,000.00 $ 437,000.00
19. 4426 Mahogany Ridge Dr. $ 239,000.00 $ 220,000.00
20. 451 Conservation Dr. $ 289,000.00 $ 285,000.00
21. 4100 Palmetto Tr. $ 309,900.00 $ 315,000.00
22. 1055 San Luis Rey $ 359,900.00 $ 324,500.00
23. 1743 Harbor View Cr. $ 599,000.00 $ 560,000.00
24. 1606 Barcelona Wy. $ 145,900.00 $ 149,900.00
25. 2261 Salerno Cr. $ 155,000.00 $ 155,000.00
26. 4084 Timer Cove Ln. $ 219,000.00 $ 215,000.00
27. 924 Falling Water Rd. $ 224,900.00 $ 224,900.00
28. 2733 Kinsington Cr. $ 309,900.00 $ 280,000.00
29. 2150 Cove Lane $ 275,000.00 $ 275,000.00
30. 2705 Cypress Mnr. $ 875,000.00 $ 815,000.00
31. 16200 Golf Club Rd. $ 159,900.00 $ 150,000.00
32. 1065 Sequoia Lane $ 300,000.00 $ 275,000.00
33. 4090 Staghorn Ln. $ 365,000.00 $ 350,000.00
34. 2760 Paddock Rd. $ 6,250,000.00 $ 3,900,000.00

Well, I have to say this was a very exciting week for Weston. Last week in my blog we had forty two

Pending Sales and twelve Closed Sales. As you can see it reversed to more closed then pending. We

were seeing many pending sales each week. With few closed sales. The reason being that most

of the pending sales were short sales and taking sometimes months to close. But as you can see the

pending are starting to close.

Out of thirty four closings, four were "short sales'. Ten of them were " bank owned".

Median price for this week is $ 265,000.00.

The big surprise this week would be our Paddock Road listing selling for $2,350,000.00 less than asking price. Who would of thought!!!!!!!!!

Buyers get out there and see what your missing. It is a GREAT time to buy!!!!!!!!!!

LOOK WHAT YOUR MISSING OUT ON!!!!!!!!!!

" Information as per MLS warranted but not guaranteed."

• 

Weston is not seeing this sign as much any more. There is only five REO's or foreclosures in Weston's single family homes as of today. Weston's inventory is at five hundred and fourteen for single family homes. Out of that amount there is one hundred and eighty three short sales. Thirty five percent of the listings in Weston are short sales. That percentage is actually down from two weeks ago. A few weeks back we were looking at between forty and forty five percent of inventory being short sales.

• Short Sale - When the lender agrees to take less than is owed on the loan. Seller must provide a hardship letter along with many other forms to start this procedure. If lender agrees to the short sale the lender becomes the third party to approve any offers. The buyer would make an offer which would go to the sellers. If the sellers agree they sign the contract and it goes to the lender for a final approval. Just because the sellers agreed does not mean the bank will. This is where things just sit and everyone waits and waits sometimes for months.

Do your homework before you get to this point. Your agent can find out about the title and how much is owed. Also whether there is a foreclosure notice. When there is a second mortgage involved that can cause more issues if the second will not take what the first is offering. That is happening to one of my offers now. The second won't except what the first is offering so now the seller has hired an attorney. This could take months to resolve. If your buyers don't need to be in a home at any particular time than they might want to wait it out. Many try to wait but many times it just gets to be a very emotional draining process for the buyers.

• Foreclosures and REO- The seller no longer is involved. The bank owns the property now so you are not dealing with a third party. Most banks will respond in a week or two. If there are multiple offers the bank will come back to the listing agent and have them let all the buyers put one more offer in. This would be their best and highest that they want to go. All the offers are sent back to the bank and a decision is make on one. Understand it is not always the highest offer that gets excepted. Many times it's the best financial back ground of the buyer. There are times that buyers will offer more than the list price. But at least with the REO ( real estate owned ) or foreclosures you get a response fairly quickly. The banks don't want to keep these homes any longer than they have to.

If you are relocating or need to have a home fairly quickly than foreclosure or just a straight listing would be your best option. You most likely will not get any surprises just before you think your closing.

Communication has always been very important in the real estate business. But now more than ever you need to have an agent that communicates with you daily. Ask questions and if you are unsure of something let your agent know.

Weston is leading Broward out of this recession. You can go to my blog on facts and trends.

" Information as per MLS warranted but not guaranteed."

Golf Tournaments are a BIG Deal down here in South Florida. Many schools and organizations put them together for fund raising. It is a great way to spend a day. Two tournaments that are upcoming in the Broward area is St. Thomas Aquinas and the YMCA fund raiser.

On Sunday May 3, 2009 there will be an auction banquet for the YMCA tournament. Then on Monday May 4,2009 the golf tournament will be held at the Weston Hills Golf Club.

For more information regarding this awesome event go to www.ymcabroward.org or call 954-424-9622

http://ymcabroward.org/Locations/Sheinberg/

______________________________________________________________________________

ST THOMAS AQUINAS HIGH SCHOOL is having their golf tournament:

Date: May 6, 2009

Location: Jacaranda Country Club

Cost: $150.00 per player

Registration begins at 11:00 with a 1:00pm start

Lunch included prior to tee off.

Cocktails and dinner following the Golf Tournament.

What better way is there to donate to these great organization and still have FUN,FOOD,AND FRIENDS !!!!!

For more information on any of these events click on the highlighted names.

" Life will give you whatever experience is most helpful for the Evolution of your Consciousness"

Eckhart Toile........

____________________________________________________________________________________________________________

WEEK OF APRIL 19,2009 THROUGH APRIL 25,2009

Total of Weston Pending Sales - Forty two

Total of Weston Closed Sales - Twelve

-----------------------------------------------------------------------------------------------------------------

ADDRESSES OF CLOSED SALES LIST PRICES SOLD PRICES

1. Briar Lane $ 240,000.00 $ 240,000.00
2. 460 Lake View Dr. $ 107,450.00 $102,500.00
3. 1864 Salerno Cir. $ 186,845.00 $165,000.00
4. 1924 Madeira Dr. $ 139,900.00 $ 136,500.00
5. 2820 Center Court Dr. $ 459,900.00 $ 432,500.00
6. 961 Marina Drive $ 324,900.00 $ 358,000.00
7. 1607 Victoria Pointe Cir. $ 599,900.00 $ 542,050.00
8. 19234 S. Gardenia Ave. $ 649,900.00 $ 540,000.00
9. 2173 Hacienda Terr. $ 220,000.00 $ 210,000.00
10. 3945 Orange Tree Ln. $ 265,900.00 $ 265,000.00
11. 16102 Emerald Estates Dr. $ 215,000.00 $ 210,000.00
12. 1920 Cedar Court $ 298,500.00 $ 270,000.00

When out with clients this week-end the inventory was not what it has been. Weston's inventory is down

and we are not seeing the availability of those "Great Deals" on every corner. Donald Trump was on the

Late Night Show last week and said numerous times that this was the kind of market that made him his

most money. Everyone still wants to wait, and no one has a crystal ball to see how much longer before

the market starts to see a change. I know I'm seeing change right now. If there is a particular community

that you would like more information on feel free to email me directly, or go to my web site and search

for your area. www.marthachamberlain.com