Kathy Carson Lynchburg, VA, REALTOR VA HOMES - LYNCHBURG, BEDFORD, CAMPBELL

Second Part of my blog: A Realtor's Story regarding the $8000 Tax Credit for 1st Time Home Buyers.

I forgot - Yep Me who is the "Room Mother" to all of my children - I forgot to tell about them in my story!!! I was so busy defending the Tax Credit.

I am so proud of my First Time Homebuyers!!! And I tell them that! They have and are continuing to work hard and they can afford their homes!! The are excited about their new homes! Some bought new homes, some bought older homes they will update, some bought older homes already updated...

Who are they? Well let me tell you:

A Firefighter - A State Trooper - A Teacher - A Supertindent for a Plumbing Contractor - A Floor Sales Manager - An Architect - A Marketing Specialist - An "almost" CPA - A Social Worker - A Nurse - A Supervisor at a Manufacturing Plant - A Nurse - A Supervisor for an Industrial Cleaning Co - An Orthopedic Assistant - A Dental Assist - A Chiropractic Assistant - oh and they are single, married, newly married, Mommies, Daddys, Want-To-Be Mommies & Daddys and MY FRIENDS!!!

These young people are what makes our country strong - they are our future and I love seeing my Tax Money go towards this type of strong future!!!

KATHY MYERS CARSON, ABR, GRI

"THE GARY FOSTER TEAM" - RE/MAX 1ST OLYMPIC - LYNCHBURG, VA

434-660-4025 or kcarson@jetbroadband.com or www.lynchburg-real-estate.com

Twitter ME @kathycarson

"CALL MY SELL!!"

I joined a rather heated debate this morning on Face Book among REALTORS, MORTGAGE LENDERS, and others in the RE Industry. I don't think we have solved anything but we are presenting interesting points of view. It would really be nice if the powers that be in our Government Legislature would do the same thing!

A Realtor's Story in this Real Estate Market regarding the

$8000 Tax Credit for 1st Time Home Buyers:

•Ø Since January: I have closed sales for 9 First Time Home Buyers who received the $8000.00 Credit = $72,000. ( 2 VA Loans, 4 USDA Loans, 3 FHA Loans) This $ was used for paint, furniture, drapes, landscaping, etc which added to the Lynchburg Economy. I also had several clients that used their 401K savings to fund their down payment then used the $8000 tax credit $ to repay themselves!

•Ø 4 Houses that I had listed were bought by 1st Time Home Buyers who qualified for the $8000 = $32,000. This $ also adding to the Lynchburg Economy.

•Ø Of these home sales only 2 were new houses. So 11 current homeowners sold their homes & bought homes, and then those homeowners bought homes & so on & so on!

•Ø The Sale of 1 Home produces a chain reaction! Each step creates $ that is used by many facets of a community including: the Mortgage Lender, the Home Inspector, the Termite Inspector, the Closing Company, the Insurance Agent, & the Realtors all who pay house payments, car payments, paint, Furniture, etc and are Taxpayers! And then throw in the Home Improvement Stores, Hardware Stores, Furniture Stores, Contractors, Painters, Heating & Cooling Companies, Concrete Contractors.... You get the picture.

•Ø The $8000 First Time Home Buyers Tax Credit ends 11-30-09!!! If you have the potential to buy your 1st Home - don't wait - Now is the Time!

I specialize in First Time Home Buyers & I LOVE REFERRALS so "CALL MY SELL"

KATHY MYERS CARSON, ABR, GRI

"THE GARY FOSTER TEAM" - RE/MAX 1ST OLYMPIC - LYNCHBURG, VA

434-660-4025 or kcarson@jetbroadband.com or www.lynchburg-real-estate.com

Twitter ME @kathycarson

"CALL MY SELL!!"

6-9-09

MAY 2009

SINGLE FAMILY, TOWNHOMES & CONDO PROPERTY REPORT

•Ø There are 1922 Single Family Homes listed today in Lynchburg MLS

•Ø We closed 188 Single Family Homes in May 2009

•Ø We have a 15.25 month supply of homes on the Lynchburg Market

This means it is a strong buyers market.

The bottom of our market appears to have been January 2009. Each month our sale numbers get stronger, however; while the inventory dipped to 1833 the end of May it is back up today. Currently we have 209 Sales Pending for the month of June 09. If all of these pending sales close I predict we will be close to June 2008 Sales.

A large influence on the current Real Estate Market is the $8000.00 Tax Credit for qualified First Time Home Buyers. This credit will end 12-1-09 and all eligible homes sales have to close by 11-30-09. That means that with a 6 week closing period a buyer should be under contract to purchase a home by October 12, 2009. How long does it take a Buyer to find the "perfect" home to purchase? Well that varies with Buyers but usually 4 to 6 weeks so we are looking at strong Buyer Activity for the entire summer & especially August 2009.

How does this affect both Buyers & Sellers?

Sellers - your house has to be perfect - clean, great curb appeal, staged to sell & priced correctly for a fast close. With so much inventory the Buyers are more selective & if they can get a Move-In ready house that's what they are going for!

Buyers - you have lots of competition - for the house, the mortgage lender, the inspectors, & your REALTOR - there are but so many hours in a day! And while it is a Buyers Market, Lynchburg stats show that the List to Sale price always hovers around 96% to 98%. Now is not the time to wait - when the $8000 is gone its gone!

VHDA ANNOUCEMENT - Yesterday

Date: June 8, 2009

Re: New - VHDA Homebuyer Tax Credit Plus Program

VHDA's Homebuyer Tax Credit Plus Program provides first-time homebuyers an affordable funding source to access their anticipated tax credit for use as downpayment and closing costs. Reservations for this program will be accepted beginning June 9, 2009.

I AM NEVER TO BUSY FOR YOUR REFERRALS!!!

CALL MY "SELL"

KATHY MYERS CARSON, ABR, GRI

"THE GARY FOSTER TEAM" - RE/MAX 1ST OLYMPIC - LYNCHBURG, VA

434-660-4025 or kcarson@jetbroadband.com or www.lynchburg-real-estate.com

Twitter ME @kathycarson

"CALL MY SELL!!"

THERE WAS NO WAY TO REMOVE THAT SMILE FROM

MY FIRST TIME HOME BUYERS FACE!!!!

This is what it is all about for me! Yes this is my job and yes I do need the money (just ask my husband) BUT there was no way I could wipe that smile off of my FIRST TIME HOME BUYER's face yesterday after our closing. This is why I love Real Estate!!!

This was not a particularly easy deal, long story short, I came in with this buyer while my partner was on vacation so I had not shown her lots of properties like he had. I had not had one fall through. AND we did close in 3 weeks and have multiple inspections But in the end it all worked out!! And we have a very very happy buyer who is ready to make this house her home!! My buyer found out at closing that the Seller/Listing Agent was selling the house she had lived in for 5 years and completely re-modeled but the real story, here, is that it was her grandmother's house! The Seller told me that she and her husband had spent a couple of hours telling the house goodbye and she had cried like a baby. The Seller is so happy my Buyer (whom she met at our walk-through) was buying the house because she knew she would love it!! Like I said this is what makes this business so much fun!!!

KATHY MYERS CARSON, ABR, GRI

"THE GARY FOSTER TEAM" - RE/MAX 1ST OLYMPIC - LYNCHBURG, VA

434-660-4025 or kcarson@jetbroadband.com or www.lynchburg-real-estate.com

"CALL MY SELL!!"

15 REASONS A BUYER SHOULD HIRE A REALTOR!!

1 - The REALTOR locates suitable properties based on information from the buyer - yes the Internet is great BUT many times a REALTOR has knowledge about properties that are not listed on the Internet.

2 - The REALTOR provides Guidance when looking and previewing properties.

3 - The REALTOR verifies the property's condition - the REALTOR is experienced and can usually red flag areas that you need to know about.

4 - The REALTOR advises on the important inspections needed for an individual property, ie; Home Inspections, Termite Inspections, Well Inspections, Well-Flow Inspections, Radon Inspections, Mold Inspections, etc.

5 - The REALTOR works with Buyers to find their comfort level for a price range.

6 - The REALTOR verifies the taxes and the utility costs for a property.

7 - The REALTOR uses a Market Analysis to offer an opinion on the market value of a property.

8 - The REALTOR assists the Buyer on structuring the purchase offer.

9 - The REALTOR presents the offer to the sellers' REALTOR.

10 - The REALTOR negotiates on behalf of the Buyer favorable contract terms for the buyer.

11 - The REALTOR assists the Buyer in locating a Mortgage Lender that works well with the Buyer and is knowledgeable in all aspects of Mortgage Lending.

12 - The REALTOR assists the Buyer & their attorney in clarifying title issues, zoning, building codes, deed restrictions, easements and any other situation that might develop.

13 - The REALTOR works with the Buyer to make sure that the Legal Documents are obtained. And makes sure the Buyer understands the documents required for the closing of the transaction.

14 - The REALTOR helps the Buyer analyze the probable future growth of value in the property.

15 - The REALTOR holds the Buyers hand and assists in any way they can to make the purchase of the home as least stressful as possible for the Buyer.

AND .... Most REALTORS Love their JOB!!!!!

KATHY MYERS CARSON,ABR, GRI

"THE GARY FOSTER TEAM" - RE/MAX 1ST OLYMPIC - LYNCHBURG, VA

434-660-4025 or kcarson@jetbroadband.com or www.lynchburg-real-estate.com

"CALL MY SELL!!"