At last! the much anticipated changes to the the first-time homebuyer tax credit are in.
The most noticable difference from the last $7500 tax credit is that it does not require repayment if the house is not sold within 3 years.
Beginning January 1, 2009 until December 1, 2009 first-time homebuyers will be lucky enough to get this boost from the government.
See the updates in writing here.
Ready to buy? You'd be smart not to wait. After all, it's a buyer's market, rates are down and you're getting a "rebate." Renting just got so much more expensive this year.
Search the MLS and see every home for sale on the Map! www.SmartGirlsOwn.com
Call the McCarthy Group at 215-757-6100 ext. 173
Visit my Philadelphia and Bucks County Real Estate Blog at it's new address:
Featuring Northeast Philadelphia and Lower Bucks County Real Estate. As some of you know I usually blog here at SmartGirlsOwn.info. Although both blogs may at times contain the same info, you will find more info on Philly and Bucks there.
Thanks for your support and, as always, if there's anyone that you would like to refer to me, please give me a call at 215-531-1305 or email me at sellwithstacey@comcast.net.

Q: There is a home for sale on my block in Castor Gardens that says it's a "short sale," and my son would like to buy it. Does that mean it will be a fast settlement, and can my son offer less than the owner is asking?
A: Selling a home through a "short sale" means that the homeowner owes more on his mortgage loan than the price he is realistically able to sell it today. Either the homeowner is behind on his mortgage payments or is facing a hardship and is trying to avoid foreclosure by selling the home. A successful sale of this property would be "shorting" the mortgage lender what is owed on the mortgage. Despite the name "short sale," it is normally not a short process...
Read all here: Real NEastate: Short Sale in Castor Gardens « NEastPhilly.com
Stacey McCarthy is a real estate agent with the McCarthy Group of Keller Williams Real Esate. Her Real NEastate column appears on NEastPhilly.com every Wednesday.
Parkwood Year-End Home Sale Report for 2008
The average sold price was $189,000 in 2008
We are currently back down to 2005 prices in value. 2006 and 2007 were an all time high for Parkwood.
In 2008 home values dropped 3.5% from 2007, which was the highest average sold prices of all time at $196,000.
The number of sales slipped 14% in 2008 with 82 Parkwood homes sold down from 96 in 2007. The highest number of homes sold was in 2004 at 122.
6% of homes that sold last year were forclosures in Parkwood which affected the average value.
Looking forward we should expect home prices in our neighborhood to continue to fall through 2009, stabilizing in 2010. This is due to the projected forclosures this year.
*This information is based strictly on row homes in Parkwood. No single homes, townhomes, or condos were used in this analysis. Homes sold that were not labled in the Multiple Listing Service as Parkwood were not used in this analysis, so there may be a small margin of error.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved