I recently read this article and thought that it had some great information for buyers:

Hey, first-time homebuyer: How does $8,000 from your Uncle Sam sound?

Want an extra $8,000? If you're a first-time homebuyer then we have a nice surprise for you.

Last fall, the Federal Government introduced a financial incentive to prospective first-time homebuyers - an income tax credit of up to $7,500. The rules were simple: you must have been a first-time homebuyer (as defined by not owning a home in the previous three years) and you met certain income restrictions.

The new $8,000 tax credit is available to those who buy between January 1, 2009 and December 1, 2009. It's not a deduction, it's an actual credit. Unlike the $7,500 first-time homebuyer tax credit introduced last summer; this does not need to be repaid.

First timers who qualify can make no more than $75,000 in adjusted gross income if they're single or $150,000 if filing jointly. The maximum tax credit is $8,000 or 10 percent of the sales price of the home, whichever is less. Three years residence in the property are required. As always, check with your accountant for details and be sure to submit IRS form 5405 when you file your taxes

Have any question or would like to learn more please visit www.HomesbyCidalia .com or call me direct at 781-389-7252.

Cidalia Mendonca Matukas

Cidalia@kw.com

www.HomesbyCidalia.com

cell: 781-389-7252

direct office: 774-568-0007

This just listed 3 bedroom 1 bath ranch style home. This is a bank owned property that with a little TLC and vision can become your "home"

Located on .28 acres

Close to major highway and state routes

Vinyl Siding for easy maintenance

City Water and Sewer

Call today for a private showing

781-389-7252

Cidalia @kw.com

www.HomesbyCidalia.com

Today in our office newsletter I read the article below and thought that it was great information that I had to share with the world. It just enforces that there has never been a better time to buy. Call me today if you have any questions or are interested in a free buyer's consultation. Cidalia 781-389-7252 or by email to Cidalia@kw.com

30-year mortgage under 5%

Weak economy keeps pushing interest rates lower

By Steve Kerch & Amy Hoak, MarketWatch Last update: 2:23 p.m. EST Jan. 15, 2009 Comments: 284 CHICAGO (MarketWatch) -- The benchmark 30-year mortgage fell below 5% for the first time ever in Freddie Mac's weekly rate survey as economic weakness continued to push interest rates lower, the mortgage agency said Thursday. The national average rate on the 30-year loan fell to 4.96% in the week ending Jan. 15, down from 5.01% a week ago. That is the lowest on record. Freddie Mac began its rate survey in 1971. A year ago the loan averaged 5.69%.

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Adjustable-rate loans also fell. The 5-year, Treasury-indexed hybrid mortgage averaged 5.25%, down from 5.49%. A year ago the loan stood at 5.40% and has not been this low since September 2005. The 1-year, Treasury-indexed ARM averaged 4.89%, down from 4.95%. A year ago that loan was at 5.26%. The 15-year fixed-rate mortgage, a popular refinancing choice, edged up to 4.65% from 4.62% a week ago. Last year at this time the loan averaged 5.21%. Refinancing activity has been strong as mortgage rates have plumbed historic lows. Read the latest mortgage application data showing record refinancing activity. The two fixed-rate loans required the payment of an average 0.7 point to achieve the interest rate; the hybrid needed 0.6 point and the ARM 0.5 point. A point is one percent of the loan amount, charged a prepaid interest. "Interest rates for 30-year fixed rate mortgages fell for the 11th straight week to another record low, due in part to the slowing economy and government actions," said Frank Nothaft, Freddie Mac chief economist. "Both the U.S. Treasury Department and the Federal Reserve have added over $100 billion in liquidity to the mortgage market since September 2008, which put downward pressure on interest rates for fixed-rate mortgages. The Federal Reserve may add up to an additional $570 billion more this year, based on its November 25, 2008 announcement, to further shore up mortgage lending and keep rates low." "In December, the unemployment rate rose to 7.2 percent, the highest since January 1993, and the economy lost 2.6 million jobs over 2008, the largest annual drop since 1945. That brought down yields on Treasury securities and mortgage rates followed," Nothaft said. Staying low Mortgage rates could remain low at least until the summer, said Greg McBride, senior financial analyst for Bankrate.com. "The outlook is very positive that these low mortgage rates will likely persist at least through the first half of the year. That is the timetable laid out from the Federal Reserve for pumping up to $500 billion in mortgage-backed bonds," McBride said. Although refinance applications are skyrocketing, many people won't be able to take advantage of the low rates because of their home equity situation, said Jim Sahnger, vice president of Palm Beach Financial Network. Some homeowners are underwater, owing more than their home is worth. Sahnger said that the majority of his Florida-based clients interested in refinancing aren't able to, unless they're able to refinance into a loan backed by the Federal Housing Administration. Part of that is due to local market conditions. Dan Green, loan officer with Mobium Mortgage in Cincinnati, said his clients -- mainly based in Cincinnati and Chicago -- aren't having as much trouble refinancing. If rates remain low, it could entice more home buyers into the market, McBride added. "There's a lot more affordability for prospective home buyers than there was six or 12 months ago," McBride said. Sahnger said that already some buyers are jumping in. "Many of the buyer's agents I work with haven't been this busy in months," he said. Not so fast While conforming mortgage rates are low, the fees associated with getting those loans are on the rise, Green said. "If you don't mind paying a point, your interest rates have fallen dramatically. For no closing cost loans, interest rates are almost a point higher than the survey," Green said. Also keep in mind that the Freddie Mac survey covers average rates over the past week. Rates are now up from the levels cited in the survey, Sahnger said. And those who need jumbo mortgages aren't seeing the same kind of relief as those applying for conforming mortgages. The average jumbo 30-year fixed-rate mortgage was 7.07% this week, according to Bankrate.com's national weekly mortgage survey, conducted on Wednesday using data from the top 10 banks and thrifts in the top 10 markets. Because the top conforming loan limit actually declined in 2009 from 2008 in high-cost markets (to $625,500 from $729,750), "there are a lot more people who are going to have to borrow at a higher rate today than a couple of months ago," McBride said. Steve Kerch is assistant managing editor and personal finance editor of MarketWatch in Chicago.
Amy Hoak is a MarketWatch reporter based in Chicago

Hello,

This property was just listed today and is a great deal! Take a look at these photos. Interested in more call me today at 781-389-7252 or e-mail me at Cidalia@kw.com

Pristine and Polished! Cuddle up in the den next to the Stone floor to ceiling fireplace or enjoy your favorite movie in the expansive family room. Large bedrooms and remodled bathrooms to enjoy. But if you want to play,the finished basement with a 2nd family room and exercise room with hot tub is sure to please. Or just read a book in the 3 season room off of the 3 car garage. Wooded 1/2 Acre fenced lot with pool.Newer windows,roof,paint,carpet. Minutes from hwy and transportation

IF this home sounds like what you have been looking for call me 1-781-389-7252 or email Cidalia@kw.com and I would be happy to schedule a private showing.

Cidalia Mendonca Matukas

Cidalia@kw.com

www.HomesbyCidalia.com

781-389-7252