Grimly Foret

FOR IMMEDIATE RELEASE
DATE: May 12, 2009

GRIMLY FORET EARNS PRESTIGIOUS DESIGNATION TO HELP HOMEOWNERS IN DANGER OF FORECLOSURE

Grimly Foret of RE/MAX Wilmington has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

In New Castle County, it is alarming how many homes are in danger of foreclosing. It is happening in all price ranges. Local experts say that even high-priced homes are not immune.

“This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,” said Foret. “It is so rewarding to be able to help sellers save their homes from foreclosure.”

A short sale can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. In a short sale the Real Estate commissions and closing costs are usually paid by the lender. CDPE experts such as Grimly Foret also may better understand market conditions and can help sellers through the emotional experience.

For more information or a free private consultation, please call (302) 777-5987.

For more information, please contact:
Grimly Foret, CDPE
Realtor®
RE/MAX Wilmington
5307 Limestone Rd, Suite 100, Wilmington, DE 19808
DIRECT: 302-777-5987,
office: 302-234-2500,
www.Grimly.NET

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$8,000 Tax Credit for First-time Home Buyers

The first-time home buyer tax credit has been revisited with the stimulus plan that was signed in to law 02/17/2009. Gone is the $15,000 tax credit (to everyone) that was highly publicized.

But, this is a great deal for the first time home buyer! They upped the previous tax credit by $500, that was due to expire at the end of June 2009. The first-time home buyer now has an $8,000 tax credit with NO REPAYMENT REQUIRED!

Below is a detailed chart that is provided by the NATIONAL ASSOCIATION of REALTORS®:

Grimly Foret
Direct: (302) 777-5987
RE/MAX of Wilmington
5307 Limestone Rd, Suite 100, Wilmington, DE 19808 - Office: 302-234-2500
Grimly.NET
Residential & Investment Real Estate

FAQ: What is the best way to find a real estate agent?
GF: There are many skilled agents out there. You’re going to want someone that not only knows your local market but also has the necessary skills to negotiate the best deal for you.

I recommend that you find your real estate professional through a trusted friend or family member that had a good experience. If you are looking to buy or sell outside of Delaware, I could also refer you to a qualified real estate professional.

$7,500 tax credit for First-time Home Buyers will EXPIRE....

For any person that was thinking of buying their First Home, but has been standing on the sidelines: This may be the perfect time. Not only will the new homeowner take advantage of extremely low mortgage rates but, will be able to deduct mortgage interest, deduct PMI and will qualify for a $7,500 tax credit!

While we are still in the Winter months, the potential buyer will have significantly more negotiating power than when Spring arrives. When Spring does arrive, it will bring with it more Buyers (competition) to the market. This Spring could see more first-time buyers scrambling to find a home to take advantage of the $7,500.

To qualify the first-time home buyer must settle on their home by June 30, 2009 (it expires July 1, 2009). Generally speaking, it takes 2 months from the start of the home search, to settlement (if home buyer finds what they are looking for quickly). Short sales and REOs take longer.

If a first-time home buyer wants to be sure they will qualify for the tax credit, they should start the process with their real estate agent before mid-April. This is usually a busy time in real estate, so my recommendation is to start the process this winter for reasons I mentioned above.

Grimly Foret
Direct: (302) 777-5987
RE/MAX of Wilmington
5307 Limestone Rd, Suite 100, Wilmington, DE 19808 - Office: 302-234-2500
Grimly.NET
Residential & Investment Real Estate

FAQ: What is the best way to find a real estate agent?
GF: There are many skilled agents out there. You're going to want someone that not only knows your local market but also has the necessary skills to negotiate the best deal for you.

I recommend that you find your real estate professional through a trusted friend or family member that had a good experience. If you are looking to buy or sell outside of Delaware, I could also refer you to a qualified real estate professional.