Janis Calkins

Congress has recently passed new legislation extending the First Time Home Buyer Credit of up to $8000 first time home buyers until April 30, 2010. It also expands the credit to grant up to $6500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010. If you are already a current homeowner you will have had to use the home being sold or vacated as a principal residence for five consecutive years within the last eight. Also, to qualify for the first time home buyer credit of $8000 the purchaser or his/her spouse may not have owned a residence during the 3 years prior to the purchase. This applies to condo's, townhomes, as well as single family homes....as long as it will be your principal residence. These amounts are the maximum amounts that can be claimed. Each home buyer's tax credit is determined by two additional factors including the price of the home and the buyer's income. Single buyers with an income up to $125000 and married couples with income up to $225000 may receive the maximum credit. The credit decreases if your income is greater than these parameters. And one last important thing to remember is that you must occupy the purchased home for three years or more or the the full amount of the credit will be recouped upon the sale.

In Ventura, we are seeing a surge in first time homebuyers looking to purchase. In fact, due to the competitiveness of the market for homes in the $250000-$500000 range, many first time homebuyers are finding it hard to have their offer accepted over others. Many investors see the coast as the perfect place to invest and are seizing the moment with offers that are predominantly cash or with large down payments. Unfortunately, the banks tend to accept the offers that carry the most cash leverage and still are price competitive. First time homebuyers can be a bit cautious in wanting to overbid a piece of property. However, currently it appears to be the only way many properties in this price range are being acquired.

Mid-town Ventura is especially a hot market right now, fueled by the lack of inventory in this region. However, almost all properties in the under $500000 range will have multiple offers unless they are overpriced. So, be ready, be fast, hire an agent who is on top of notifying you quickly, be aggressive in your offer, and you will most likely be able to purchase a nice home in Ventura!!

For listing information and information on Ventura homes for sale and Ventura real estate, please take a look at:

http://www.Venturahomesforsale.org

As of November 30, 2009,the first time homebuyer credit is due to run out!! There have been more than a dozen bills introduced to try to prolong the life of the tax credit and the White House is evaluating the credit's impact on home sales. I hear they way overspent their intended budget already on this. The National Association of Realtors and the National Association of Home Builders are pushing for extension. But with the cost, which is said to maybe hit $15 billion (more than double the projection...wowsa!) who knows how likely this is to get extended.
Home sales have definitely been rising in Ventura and prices have been pushed up.
The odds are said to be around 60% that Congress will extend the credit.
If you are fearing of running out of time, now is the time to jump into the market for sure. Nobody knows if this perk will continue to be available.
I can certainly be of help finding you a home. This is not the time to pass up these opportunities of tax credit, low prices and low interest rates. Contact me today!

For more information on Ventura Real Estate and Ventura Homes For Sale click on my link below!!

http://www.Venturahomesforsale.org

If you have been waiting to jump into the market, I would not wait any longer! We are experiencing multiple offers on properties in the $250000 to $500,000 price range. Various factors contribute to this including the first time home buyers $8000 credit and also interest rates that seem to be on the rise. Contact me today to start shopping and don't miss out on this opportunity! Check out listings at:

http://www.venturahomesforsale.org/

If you are looking for Ventura homes for sale, Ventura property for sale, Ventura Real Estate this is the place!

To Search For Foreclosed or Bank Owned Homes/Condos in Ventura County go to:

www.Venturahomesforsale.org

Do you buyers know how important it is to have this mind set when you look at properties to purchase? A buyer recently said those exact words! He actually said these words within 15 minutes of the showing. I was in shock over this buyers ability to be ready and willing to purchase.This buyer will undoubtedly purchase a home at a great price in today's market.

What type of buyer are you?

Buyer # 1. The Procrastinator John and Jane want to see every listing that is currently on the MLS that falls into their price bracket. They have gotten prequalified but are in NO HURRY to purchase until they feel they have seen every choice of home. They analyze every price, every home and complain about all the imperfections. 4 months down the road their ability to obtain the loan program they wanted is no longer in existence and they have lost the ability to purchase. No home purchased here.

Buyer #2. Mr. I'm getting the Best Deal Robert feels that because most listings are foreclosures and bank owned properties that there is a bank out there wanting to "give" him a home to get rid of it. Every home he looks at he wants to lowball an offer in at way below list price. You have written him 3 offers and he has been outbid every time. No home purchased here.

Buyer #3. The Cafeteria Buyer Marsha wants more than she can afford or swallow. She tells you that she wants a 4 bedroom, 3 bath home with a large lot and a swimming pool for $250,000. Please send her listings in this price range. A minimal priced home starts at $300,000 for a 2 bedroom, 1 bath. She is really prequalified to purchase at $350,000 and could obtain a nice 3 bedroom, 2 bath home and get into the market, but insists she needs an estate for $250,000. No home purchased here.

Buyer #4. The I'm Too Cautious Buyer Mary finds a home she loves but gets cold feet about proceeding. She says she wants to wait and see if it gets any other offers. She wants to think about it for a week. A week later this home has 4 offers in on it. Mary just does not have the guts to make an offer at a decent price because she is really afraid of home ownership. No home purchased here.

I suggest you take a look at the categories above and if you fall into one of these, please develop the philosophy of I AM PREQUALIFIED, I LOVE IT AND I AM READY TO MAKE A GOOD OFFER! It is so important to be ready to move forward right now and to have the ability to make a decision quickly. We are seeing countless multiple offers on homes. Most of the homes in Ventura County are being priced under or at where they should be. Making offers well under list price is not going to work in this market right now. and when interest rates and prices take that rise, don't be one of the buyers who never buy. BE READY! You, as a buyer, can obtain a great home for a great price at a tremendous loan value right now. GET INTO THE GAME!! The reality is that this opportunity will not last forever. When home prices take that rise don't be left behind with "No home purchased."

For further information and Ventura Real Estate check out my website at:

www.Venturahomesforsale.org