Stephanie Feinzilberg

If you are a buyer looking to buy in Boca Raton, Delray Beach, or Boynton Beach, let me give you some useful tips that can help ease the buying process.

These tips should help keep you on track and decipher what's most important in your Boca Raton, Delray Beach or Boynton Beach Home!!

5 "BAD" Reasons Not to Like a House

1. The wall and carpet colors give you a headache. A little paint and a neutral-colored carpet or wood are quick fixes. Pay more attention to the layout and use of space than to the color scheme.
2. Dated appliances in the kitchen. If the layout and the size are right, you can live with the appliances until you can afford new ones. Who knows, you may even get to like white (but probably not avocado).
3. Uninspired landscaping. As long as there is adequate space for your needs, consider the garden and grounds a blank canvas on which you can work your horticultural magic.
4. Furniture that's old and worn. Not everyone has your good taste when it comes to decorating; visualize how your things will fit into the space.
5. Messy rooms. Look beyond the mess; are there enough rooms and are they large enough to accommodate your needs?

5 "Good" Reasons Not to Like a House

1. It does not meet your minimum requirements for bedrooms/bathrooms (unless you plan to undertake, and can afford, a major remodel).
2. Other homes on the block are visibly unkempt and in need of repair.
3. The yard is not big enough for your needs.
4. Inadequate closet space; you don't want to have more stuff than room to put it in.
5. It's out of your price range. Even if you love it, don't get caught up in "I must have it at all costs" fever. There will be another one at the right price.

IF YOU HAVEN'T ALREADY HEARD, THERE IS A NEW TAX CREDIT FOR CURRENT HOMEOWNERS. IF YOU HAVE LIVED IN YOUR CURRENT RESIDENCE FOR 5 OUT OF 8 YEARS, AND IT'S YOUR PRIMARY RESIDENCE, YOU MAY QUALIFY. THERE ARE OF COURSE STIPULATIONS, THEREFORE, I HAVE INCLUDED SEVERAL LINKS BELOW FOR YOU TO LOOK THROUGH.

HERE ARE A FEW OF THE RULES:

THE HOME MUST BE UNDER CONTRACT BY APRIL 30TH, 2010.

IF THE HOUSE IS UNDER CONTRACT BY APRIL 30TH 2010, IT MUST CLOSE NO LATER THAN JUNE 30TH, 2010

IN ADDITION, INCOME LIMITS ARE $125,000 FOR SINGLES AND $225,000 FOR COUPLES.

CURRENTLY MANY HOMEOWNERS HAVE CHOSEN TO STAY IN THEIR HOMES, BECAUSE OF FEAR RELATING TO THEIR TAXES INCREASING. TODAY, IN FLORIDA WE HAVE THE SAVE OUR HOMES AMENDMENT. THIS ALLOWS QUALIFYING HOMEOWNERS TO TAKE THEIR HOMESTEAD WITH THEM INTO THEIR NEW PROPERTY. TO SEE IF YOU QUALIFY, AND HOW MUCH OF YOUR PORTABILITY YOU CAN TAKE WITH YOU, USE THE LINK BELOW.

PORTABILITY

IRS

If you're wondering who or what an Echo Boomer is, you might be surprised. By the title I assumed it had to do with something green or echo friendly, but that wasn't the case.

An Echo-Boomer is a child of a Baby Boomer. A study done at Harvard University predicted that the Echo Boomers are going to be the ones to bring the housing market back to life.

Between 1979 and 1995 there were 75 Million Americans born. The study correlates the amount of people born between, 1979-1995 with a need for housing.

I was born between these years and so are a lot of my customers who are looking for their first home!!!

I guess the government gave the tax-credit at the right time.

The one part of the article I found really interesting is that although they predict a lot of these Echo Boomers will begin to buy, they don't see them driving up the prices. They predict this because the Echo Boomers incomes are lower than the individuals who were buying homes a decade before them.

In my opinion the prices could go up due to the Echo Boomers. I believe this because, if they begin buying up houses, they will decrease the supply and therefore the demand will go up. Generally speaking when demand is up, it can have an upwards affect on prices.

Happy House Hunting!!!

If your looking the Delray Beach, Boca Raton or Boynton Beach areas, I would love to help you find your next home!!!

Currently, first time homebuyers qualify for a $8,000 tax credit. What would you think if it went from $8,000 to $15,000? I think it sounds pretty good!!!

In Washington on June 11th, 2009 The Housing Working Group made recommendations to the Obama Administration regarding efforts to stabilize and bring back the housing market. They feel that if the housing market is not addressed and corrected, we could sink further into economic hardships.

Their recommendations to the Obama administration include:

Keeping interest rates for 30 year fixed mortgages at historic lows for the next year.

Also, along with some other recommendations, they want to increase the tax credit to 10% of the purchase price with a cap at $15,000. They also want to make this available to all homebuyers and not just first-time homebuyers. Additionally, they would remove the current income restrictions and include all homestead residence purchases for one year.

This information came to me from the National Association of Realtors.

In my personal experience the market has definitely picked up in the last 6 months, I could only imagine what a boost this additional money would give the housing market!!!!

I'm going to stay on top of this information and give updates, as I receive them.

If anyone is looking to buy or sell in the Boca Raton, Delray Beach or Boynton Beach area please give me a call!!!!!

I'm sure most of you already know about the Government's $8,000 Tax Credit for First Time Homebuyers.

Originally, the tax credit was given after you had already purchased your home.

Now, in order to stimulate the market further the Florida Legislature has allocated $30.1 million for downpayment assistance programs. What this means for first time homebuyer is that the $8,000 tax credit can be used towards the DOWNPAYMENT on your house.

For example, if you are a buying a $250,000 house, and doing a FHA loan with a downpayment of 3.5% ($8,750), you could now use the tax credit to pay for $8,000 of it, and only be responsibily for $750 out of pocket!!!!!

The way it will work, is beginning on July 1st, those that qualify will apply for downpayment assistance before closing, and then re-pay the borrowed funds when they get their tax credit.

Details are still being worked out, but it sounds like the launch is still set for July 1st 2009.

The deadline for the tax credit still remains Dec 1st 2009.

If you, or any of your friends and family would like additional information please don't hesitate to call or write a e-mail.

Happy House Hunting

Steph