If You Want Your $8,000 first time home buyers tax credit, you need to follow the guidelines already established.
Several States have enacted a loan program that would lend a first time home buyer upfront money they could use on their home purchase, then pay back next year when they recieve the federal tax credit. Montana isn't one of them. The Governor says that there is a risk that the user of this loan may not pay it back. Unfortunately, this has happened before (mortgage loan crisis) and even though we have very few repo's per capita here in our wonderful State, people who cannot make a home purchase without this loan from the State may not be in the best position to purchase right now.
I do have several cases of people who could qualify for a 20% down conventional loan if they had the tax credit right now, they obviously have a lot of "skin in the game" and would likely not risk their own cash.
But the stimulus tax credit is really designed to prompt the ready, willing and able first time home buyer to get out there and make a move. Come next year when they file their taxes, they will get this tax credit (if they qualify of course) and then they might use that stimulus money to make some other purchases that also stimulate the economy. It's all good!
Yes You Do!!!
"Ya, but if I tell people what's wrong with the property, they won't be interested and I won't get what it's worth."
Home buyers beware! This is the conversation I just had with someone who didn't want to list with a Realtor because then they would have to disclose the problems with the home.
This was all brought to the front of the conversation when I presented a Seller"s Property Disclosure to a customer who I was explaining about how the home selling process works. I gotta tell ya that he also thought that since he told me, I was to act confidentially, (kinda like an attorney) and not tell anyone about what he said because after all don't I work in "his best interests"?
Just so you know, I don't work like that, and neither do most other Realtors I know. It's hard enough for an inspector to find out things about a home, after all, there are things they can't discover or see such as a failing sewer pipe, if it appears to function when they visit the home. That's why we ask questions of the seller as well. The law is not on the side of the person who has knowledge of a problem and doesn't disclose the problem to a buyer either.
It's much easier to disclose and deal with problems right up front, it doesn't mean that your home won't sell, if it's priced right for it's condition and the market, there will be a buyer out there (usually). But if you try to trick somebody into paying good money for a crap house, it's like stealing and you will not fare well.
Hooray we have some good movement in the "East of Billings" market. Seems as though this spring like weather has sparked some interest in moving.
Today I ran the numbers for area 10 and found that we have 14 properties under contract right now! Here are the average numbers of interest:
I think the east end of Billings is at a price point where there are just more buyers who are ready to take advantage of record low interest rates.
Price it at market and it will sell. Buyers are looking for deals, I know, I've been working with quite a few lately. Even though the selection is good, if a new listing comes on the market priced right for the area and it's condition, it will sell quickly.
Stay tuned, let's hope we have a great next few weeks.
Have a Happy and Safe Graduation Everyone!
You'll find Good Earth Works on Hwy 312 when you head from the Billings Heights to Shepherd, Huntley and Worden. And you should find them if you need any help with just about anything landscapish.
This business has grown over the last 8-10 years that I have driven by almost every day on my way to town. I know they're doing things right, because I send my clients to them for help and advice about all things tree and bush like! Most of the trees in my yard are from this store, some of which are special order so that I can get a good deal on the bare root varieties.
Service is a big part of the reason I refer my clients to Good Earth Works, and I ask for them to talk to James when he's available. He has practical advice for our area, soil and climate. He's kind of like a local growing guru since he keeps good tabs on what's working in our neighborhood and what's not.
Lots of trees and bushes to choose from. The perineal selection is one of my favorites since I usually think about gardening when everyone else has already picked over the annuals at the local discount store.
Remember, this is a process!
Our little quilting group rotates to each other's homes on Tuesday evenings for a bit of fun. Here are a couple of pictures of our latest projects which are a mystery to us until we put them all together.
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Proud member of “The Windmill Gang” riding the range in a small SUV providing the best Real Estate Representation for Buyers and Sellers in Yellowstone, Stillwater, Carbon, and Musselshell County!
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