Judy Niemeyer

The clock is ticking on the $8,000 tax credit for Mobile Eastern Shore first-time home buyers. The expiration date of December 1, 2009 seems like a long time off now, but it will be here before you know it and the home buying process takes time. Here are some important facts to remember about the tax credit:

Important Facts To Know:

1. It is a tax credit to home buyers, not a loan as in last year's program;
2. It is only for first time home buyers, defined as someone who has not had an ownership interest in a principle residence in the 3 year period prior to the date of the 2009 purchase;
3. The buyer must remain in the home for a minimum of 3 years;
4. It is applicable to purchases between January 1, 2009 and December 1, 2009; and
5. Full credit is available to those with adjusted gross income of $75,000 or less ($150,000 for married filing jointly). The credit is phased out entirely for those with adjusted gross income over $95,000 ($170,000 for married filing jointly).

If you bought a home last year under the old $7,500 tax credit rules, those rules still apply to your 2008 home purchase.

If you purchased a home after January 1, 2009, or are thinking of buying a Mobile Eastern Shore home this year and want to learn more about the $8,000 tax credit, give me a call or visit JudySells.com.

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Buying a Mobile Eastern Shore home can be time consuming and overwhelming at times. Below are tips to make your home search more manageable:

1. Research before you look. Decide what features you most want to have in a Mobile Eastern Shore home, what neighborhoods you prefer, and how much you'd be willing to spend each month for housing.

2. Be realistic. It's OK to be picky, but don't be unrealistic with your expectations. There's no such thing as a perfect home. Use your list of priorities as a guide to evaluate each property.

3. Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and closing costs. Then, talk to a lender and get prequalified for a mortgage. This will save you the heartache later of falling in love with a house you can't afford.

4. Don't ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion, but be ready to make the final decision on your own.

5. Decide your moving timeline. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? All of these factors will help you determine when you should move.

6. Think long term. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in this home for a longer period? This decision may dictate what type of Mobile Eastern Shore home you'll buy as well as the type of mortgage terms that will best suit you.

7. Insist on a home inspection. If possible, get a warranty from the seller to cover defects for one year.

8. Get help from a REALTOR®. Hire a real estate professional who specializes in buyer representation. Unlike a listing agent, whose first duty is to the seller, a buyer's representative is working only for you. Buyer's reps are usually paid out of the seller's commission payment.

Give us a call when you are ready to talk with a professional. We are glad to guide you through the home buying process and help you purchase the Mobile Eastern Shore home of your dreams.

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The ‘American Recovery and Reinvestment Act of 2009' which became law on February 17, promotes energy independence and green jobs through tax credits and government grants. This is part of an effort to make Mobile Eastern Shore homes and buildings more energy efficient.

Energy saving provisions include:

$6 billion to state and local governments for energy efficiency and conservation grants for energy audits, retrofits and financial incentives.

30% tax credit (increased from 10%) to homeowners for new furnaces, windows and insulation.

• $5 billion to modernize the nation's electricity grid and install smart meters on homes, saving homeowners money.
  

$5 billion for weatherization assistance for low income households.

$2 billion for federally assisted housing efficiency efforts.

This bill is good news for Mobile Eastern Shore home owners wanting to make their homes more energy efficient. Interested in buying a Mobile Eastern Shore home? Visit JudySells.com.

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Judy Niemeyer of Ashurst and Niemeyer presents:

The Mobile Eastern Shore Real Estate Podcast

The June 2009 edition covers Mobile Eastern Shore real estate market activity and then we'll uncover three unique factors that are benefiting buyers and sellers.Features special guest Terri Murphy of US Learning. Program length: approximately 8 1/2 minutes

download podcast mp3 file | subscribe to podcast feed

Buying a Mobile Eastern Shore home is one of the biggest investments people make, and the process usually begins with choosing a real estate agent.

According to the 2007 NAR Profile of Home Buyers and Sellers, 79 percent of recent buyers used a real estate professional, while only 7 percent bought the house directly from the owner.

When choosing an agent, 43 percent of all buyers relied on friends, relatives and neighbors for referrals; that percentage jumped to 54 percent among first-time buyers.

Nearly eight of 10 first-time buyers said the most important benefit of a real estate agent was helping them understand the process. Agents also help buyers become more educated consumers - almost half of all buyers said their agent pointed out unnoticed features/faults with properties they were considering.

The relationship between a Mobile Eastern Shore home buyer and his or her buyer's agent must be based on trust, mutual goals and understanding. The buyer entrusts the buyer's agent with putting his or her interests first and foremost. Here are some things to consider when choosing a real estate agent, compliments of LendingTree.com.

Some things to look for in a buyer's agent

• An understanding of your needs.
• A willingness to work with you until your needs are fulfilled.
• Professionalism.
• A familiarity with the neighborhoods you like.
• Experience with the price range in which you have an interest.
• Professional designations: for example, GRI, Graduate of the REALTORS® Institute or CRS, Certified
• Residential Specialist.
• Strong references from previous buyers.

Some questions to ask a prospective buyer's agent

• How long have you been in real estate?
• Are you a full-time buyer's agent?
• Are you familiar with the area in which we want to look?
• How many home sales did you participate in last year?
• What is the average sold price of the homes you sold last year.
• Do you normally work with sellers or buyers?
• How many buyers are you presently working with? How many sellers? Where do you feel your strengths lie?
• What three buyers that you have worked with can you give me as references?
• Will you handle the appraisal, inspection and insurance?
• Will you be present at closing?

If you are Mobile eastern Shore home buyer and looking for a real estate professional to represent you, give us a call, 251-990-0569. We understand how important buying a home is and are glad to spend as much time interviewing with you as you need.

Learn more about Mobile Eastern Shore homes and the home buying process on our website, JudySells.com.

Search all Mobile Eastern Shore homes for sale.