For those Buyers who have watched and waited the housing market over these past few years, now may be the time for you to act.
“A combination of factors, including a high inventory of homes for sale, reduced home prices, historic low interest rates, and loosening lender restrictions are finally motivating even the most cautious Buyers who have been sitting on the fence,” stated Elaine Mallon, Broker Associate with Coldwell Banker.
“Of particular importance, the temporary Conforming Loan limit which raised the size of a more affordable loan for Buyers, is set to expire on October 1, 2011. Housing affordability and the time to buy is uniquely strong right now.” Those reasons include:
· HOMES ARE MORE AFFORDABLE: Housing prices are down 27%, across the nation on average, from their peak just 5 years ago. Great values can be found throughout the San Pedro Peninsula, Palos Verdes Peninsula, and South Bay areas.
· INTEREST RATES ARE AT HISTORIC LOWS: At 4.6%, historic low rates means you get more for your money, but they won’t remain this low forever. When interest rates go up, the amount of money you keep in your pocket goes down.
· TIMING IS EVERYTHING: “Conforming loan” limits (size of a loan size to $729,750) will be reduced on October 1, 2001 to $625,500, barring congressional action. Right now, because of the “temporary” raise in loan limit for Conforming loans, your dollar goes farther. (Homes exceeding the “Conforming loan” limit are “Jumbo loans” and carry not only higher mortgage interest rates, but higher down payment requirements as well.)
· LIVE THE AMERICAN DREAM: 9 in 10 Americans still say homeownership remains the cradle of the American Dream and their best long-term investment overall. Remember, you can’t live in your 401K!
· FINANCING IS MORE AVAILABLE NOW: Lender restrictions have relaxed a bit now that we are over the worst of the housing crisis. There are also more lending options and programs right now. In general, today’s borrow needs 2 years of stable employment, sufficient income to cover housing and living expenses, at least 3.5% down payment, and a credit score of at least 620. The higher your credit score, the better rates you can secure.
Home prices and mortgage interest rates won’t stay this low forever. If you are ready to MAKE YOUR MOVE NOW, call Elaine directly at (310) 544-8453 or on the web at www.CaliforniaMoves.com/Elaine.Mallon. She is eager to help with all your HOME BUYING & SELLING needs!
Elaine, who operates as a Dual Agent for Coldwell Banker's Palos Verdes / South Bay AND the state-of-the-art Manhattan Beach branch offices, is a Certified Negotiator, a Certified Relocation Specialist, a Certified Palos Verdes Peninsula Area Specialist, an award-winning marketing and public relations veteran, and a regular contributor to local and national on-line publications on matters that affect Buyers & Sellers today.
As published in The Daily Breeze Home Guide, 5/1/2010
COLDWELL BANKER LAUNCHES NEW "BUYER BONUS SALES EVENT," Beginning May 1st
Incentive Program Extends the Benefit of the Now Expired
Federal Home Buyer Tax Credit to All Home Buyers!
The real estate industry can credit the recent Federal Home Buyer Tax Credit, which expired April 30th, to a boost in sales activity and a recovering market. To help keep that momentum alive - and help put more people on the path toward homeownership - Coldwell Banker has launched a national "Buyer Bonus Sales Event," beginning May 1st and ending July 31st.
The goal is to help Sellers improve the chances that their home will sell more quickly, and to help incentivize Buyers who missed the tax credit by allowing them to still reap the financial benefits that the tax credit would have provided.
The exciting program calls for participating home Sellers to offer a closing cost credit of 3% of the final purchase price (up to $10,000 -- more than the government's $8,000 maximum credit!) for all accepted contracts signed before July 31, 2010.
"This special 3-month event offers the potential of a bigger closing cost credit to home buyers and is open to all with no eligibility restrictions, unlike the government's program," commented Elaine Mallon, Broker Associate for Coldwell Banker's Palos Verdes/South Bay and Manhattan Beach offices. "Buyers who missed out on the Federal Tax Credit can be encouraged to keep up their home search."
In addition to special local marketing efforts, there will be widespread national marketing support including tags on TV advertising, banners on coldwellbanker.com and other key websites that link to a landing page where consumers can search participating properties.
"Sellers who participate in the program will have added benefits that will help their homes stand out from the competition in the crowded Spring/Summer market, creating excitement around their property and exposing them to a wider audience of potential home buyers," concludes Elaine. "The Buyer Bonus program could be just the incentive to motivate buyers into making an offer on participating homes and helping these homes sell faster."
If you're looking to list your home soon, please contact Elaine Mallon directly at (310) 721-7121 or at www.CaliforniaMoves.com/Elaine.Mallon for additional information about the Coldwell Banker Buyer Bonus Sales Event.
Elaine Mallon is a licensed Real Estate Broker, Certified Negotiator, Relocation Specialist, Palos Verdes Peninsula Area Specialist, CARTUS Marketing Specialist and award-winning Marketing & Public Relations Veteran. She assists both Buyers & Sellers throughout the Palos Verdes Peninsula, San Pedro Peninsula and South Bay Beach Cities. For superior service & fast results, please contact her today -- she is eager to help with all your Home Buying & Selling needs!
As published in The Daily Breeze Home Guide, 5/1/2010
COLDWELL BANKER LAUNCHES NEW "BUYER BONUS SALES EVENT," Beginning May 1st
Incentive Program Extends the Benefit of the Now Expired
Federal Home Buyer Tax Credit to All Home Buyers!
The real estate industry can credit the recent Federal Home Buyer Tax Credit, which expired April 30th, to a boost in sales activity and a recovering market. To help keep that momentum alive - and help put more people on the path toward homeownership - Coldwell Banker has launched a national "Buyer Bonus Sales Event," beginning May 1st and ending July 31st.
The goal is to help Sellers improve the chances that their home will sell more quickly, and to help incentivize Buyers who missed the tax credit by allowing them to still reap the financial benefits that the tax credit would have provided.
The exciting program calls for participating home Sellers to offer a closing cost credit of 3% of the final purchase price (up to $10,000 -- more than the government's $8,000 maximum credit!) for all accepted contracts signed before July 31, 2010.
"This special 3-month event offers the potential of a bigger closing cost credit to home buyers and is open to all with no eligibility restrictions, unlike the government's program," commented Elaine Mallon, Broker Associate for Coldwell Banker's Palos Verdes/South Bay and Manhattan Beach offices. "Buyers who missed out on the Federal Tax Credit can be encouraged to keep up their home search."
In addition to special local marketing efforts, there will be widespread national marketing support including tags on TV advertising, banners on coldwellbanker.com and other key websites that link to a landing page where consumers can search participating properties.
"Sellers who participate in the program will have added benefits that will help their homes stand out from the competition in the crowded Spring/Summer market, creating excitement around their property and exposing them to a wider audience of potential home buyers," concludes Elaine. "The Buyer Bonus program could be just the incentive to motivate buyers into making an offer on participating homes and helping these homes sell faster."
If you're looking to list your home soon, please contact Elaine Mallon directly at (310) 721-7121 or at www.CaliforniaMoves.com/Elaine.Mallon for additional information about the Coldwell Banker Buyer Bonus Sales Event.
Elaine Mallon is a licensed Real Estate Broker, Certified Negotiator, Relocation Specialist, Palos Verdes Peninsula Area Specialist, CARTUS Marketing Specialist and award-winning Marketing & Public Relations Veteran. She assists both Buyers & Sellers throughout the Palos Verdes Peninsula, San Pedro Peninsula and South Bay Beach Cities. For superior service & fast results, please contact her today -- she is eager to help with all your Home Buying & Selling needs!
As Published in THE DAILY BREEZE Home Guide
NOW IS THE PERFECT STORM OF OPPORTUNITY
FOR BOTH HOME BUYERS AND SELLERS!
The worst is over. With Spring now upon us, the current local housing market is producing the perfect market for those seeking homeownership and those looking to sell.
"Buyers who waited for signs of a market recovery are encouraged by months of an uptick in sales, extended tax credits and improving economic news nationwide," stated Elaine Mallon, Broker Associate with Coldwell Banker. "Sales are up. Buyers have the confidence again to invest in the cradle of homeownership and are inspired by a short window of added opportunity."
The new confidence in the real estate market can be attributed to several solid factors:
1. Interest rates are still at historic lows but are expected to rise slightly during the year.
2. The Federal Homebuyer Tax Credits have been extended for a short period to April 30, 2010! The $8,000 first-time homebuyer tax credit was set to expire last Nov. 30 before Congress granted the brief extension window. Lawmakers also added a $6,500 credit for current homeowners, which has broadened the home purchase urgency to a wider group of buyers. (Restrictions apply).
3. Sales activity has consistently increased month-to-month, surpassing most market expectations.
4. Prices have bottomed out and are expected to rise, at a slow but steady pace, in the years to come.
"With the Tax Incentives expiring next month for first-time homebuyers (must be in escrow by April 30, 2010), we are seeing a new rush - and bigger pool of buyers -- eager to invest in dirt, not paper," says Elaine. "Strategic Sellers are taking note of the time-crunch to buy and putting their homes on the market now ahead of the late Spring/early summer selling season."
This is without question an exciting, opportune time to be a Buyer. "Through the ups and downs of any market, homeownership remains one of the greatest long-term investments," concludes Elaine. "The very best investments are made, like now, when you buy in the low. And, more importantly, you cannot live in your 401K."
Elaine Mallon is a licensed Real Estate Broker (DRE #01325954), a Certified Negotiator, Certified Relocation Specialist, and an Award-Winning Public Relations & Marketing Veteran. She serves HOME BUYERS & SELLERS from Manhattan Beach to the Palos Verdes & San Pedro Peninsulas, and can be reached directly at 310-544-8453 or online at www.CaliforniaMoves.com/Elaine.Mallon.
She is eager to help you with all your HOME BUYING & SELLING needs.
HURRY! THE FEDERAL HOME BUYER TAX CREDIT EXPIRES IN 4 WEEKS!
The Tax Credit - which was EXTENDED and an EXPANDED To Include Existing Homeowners - Ends April 30th!
A GREAT move-up market recently got better! Besides the enticing Federal Tax Credit for First-Time Home Buyers, now those who currently own a home will qualify too!
The new bill calls for an incentive for existing homeowners who have owned their current residences at least five years, making them eligible for tax credits of up to $6,500 when they purchase a new home. First-time homebuyers - or anyone who hasn't owned a home in the last three years - will still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30th.
The credit is available for the purchase of principal homes costing $800,000 or less. Vacation homes are ineligible. The credit would be phased out for individuals with annual incomes above $125,000/year and for joint filers with incomes above $225,000/year.
The credit will be extended an additional year, until June 30, 2011, for members of the military serving outside the United States for at least 90 days.
The key to returning stability to the economy lies within the housing market, and this is a meaningful credit that will create a strong foundation for future growth and make a measurable difference in our economy.
If you are a home buyer who weathered these past difficult years, your time is now!
Elaine Mallon is a Broker Associate (DRE #01325954) with Coldwell Banker, a Certified Negotiator, Certified Palos Verdes Peninsula Area Specialist, Certified Relocation Specialist and Award-Winning Public Relations & Marketing Veteran. Additionally, she performs as a Dual Agent to both the Manhattan Beach and Palos Verdes/South Bay branch offices, serving clients from the finest South Bay beach cities to the scenic San Pedro Peninsula.
For superior service with all your HOME BUYING & SELLING NEEDS, please contact Elaine directly at 310.544.8453 or on the web at www.CaliforniaMoves.com/Elaine.Mallon. She is eager to help you!
Elaine Mallon is an award-winning Real Estate Broker who serves both HOME BUYERS & SELLERS throughout the Palos Verdes Peninsula, South Bay beach cities & San Pedro Peninsula.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved
