Wanda Tharp

Make your homeownership dreams come true...

Thanks to our friends in Washington, DC the Home Buyer Tax credit has been extended! I personally am giving my thanks to the powers that be. I hope this will continue to stimulate the housing market. My brokerage had a record breaking October as a direct result of the $8,000 tax credit to first time home buyers. The new legislation also expanded the credit to include repeat home buyers. That amount is up to $6500.00. My hope is that this will stimulate the sale of homes over $200,000.

Here's the skinny, but please contact your tax professional for more details:

• First-time home buyers must have a purchase agreement written before April 30, 2009.
• Ditto for the current home owners.
• Current home owners must have lived in their sold home for five consecutive years within the last eight.
• First-time home buyers may not have owned a home three years prior to the purchase of the new home.
• The credit amount is determined by the price of the home and the buyer's income.
• Homes must be under $800,000.
• Single buyer income must be $125,000 and under to receive the maximum credit.
• Married buyers income must be $225,000 and under to receive the maximum credit.
• Home buyers receiving the credit must live in the home for three years or the full amount of the credit will be recouped on the sale.

This is a great time to buy. There are nice properties for sale in the Cedar Rapids real estate market.

This is also a great time to list. I say this with the hope that extending a credit to existing home buyers will stimulate the market in our area. My advice is not to wait until Spring to list. List now and see what happens.

Thank you for reading my blog and have a great day!

Wanda

Wanda Tharp, Realtor, Coldwell Banker Hedges Realty, Licensed to sell real estate in Iowa

What do you know about Termites? I listened to a pest expert not long ago and heard some amazing and scary stories. I, like most homeowners knew very little about the danger they pose on a home. Frankly, the only time I thought about termites was when I sold my house and it needed to be inspected. I would cross my fingers and just hope that the creepy things weren't in my house. Now I know that prevention is the best practice when dealing with Termites.

Here are few common preventive measures:

• Keep moisture out. Downspouts and gutters will keep water away from the foundation.
• Do not store mulch, firewood and wood chips by the house or in the garage(guilty).
• Make sure shrubs and vines aren't to close to the home. They should not be covering vents.
• Reduce humidity in basements and crawl spaces.
• Seal gaps and cracks around vents, windows and roof eaves.
• Remove tree stumps and roots near the home.
• If your neighbor finds out they have termites, you should have your home inspected.

The best prevention measure is to schedule regular inspections by a pest specialist. Cedar Rapids has a bustling termite population and many specialists to choose from. The cost is usually under $100.00 depending on your property. Keep in mind, if your detached garage is infested, your house will need to be treated too. The cost of treatment can vary from market to market and type of property.

Now Google Termites and learn about how interesting, scary and amazing these creatures are.