A refundable first-time homebuyer tax credit of up to $8,000 is the centerpiece of four housing incentives found in the 2009 American Recovery and Reinvestment Act.
The new credit is designed to boost sales in the nation's sagging housing market. The impact will likely not be felt for at least three or four months, because it generally takes buyers that long to qualify for a mortgage and search for a home.
Rules for 2009 first-time homebuyers tax credit:
Other Incentives
In addition to the first-time homebuyer tax credit, the stimulus legislation includes an Expansion of the home improvement tax credit. The tax credit for making energy-efficient home improvements has been raised to 30 percent of the cost of the improvements, up to a maximum of $1,500.
Eligible improvements -- which must meet the standards established by the federal government -- include replacing doors and windows, adding insulation, and installing new heating and air conditioning systems and water heaters.
Higher FHA reverse mortgage loan limits. Loan limits for reverse mortgages insured by the Federal Housing Administration have been increased to $625,500 across the country. FHA-insured reverse mortgages were not available for many homes in high cost areas - such as the San Francisco area, New York City and its suburbs, and Washington, D.C.
The program -- which took effect Jan. 1 -- allows older homeowners to use the proceeds from a reverse mortgage to purchase a new principal residence. To qualify for a new purchase reverse mortgage, buyers need to be seniors over age 62 and presently own a home.
Higher FHA and conforming loan limits. The maximum FHA loan limit for high-cost areas has been restored to the 2008 level of $729,750. The stimulus package restores the 2008 limits through the rest of 2009. This will help keep a greater percentage of loans in expensive cities (such as New York and San Francisco) in the "conforming loan" category.
Conforming loans are eligible for guarantees from mortgage giants Fannie Mae and Freddie Mac. Such guarantees help reduce mortgage rates on conforming loans. The guarantees also make it easier for first-time and low-income borrowers to qualify for mortgage loans.
Brad Koenig
www.YourLocalHomeTeam.com
Today I attended a information meeting for local business owners on the new Pabst Farms shopping center.
Developers are looking at opening this mall in 2010. From the Milwaukee BizJournal:
The project would start on the southwest section of the parcel with what the developers call a community center featuring a combination of large and midsize stores and smaller shops.
While he didn't name any retailers, city economic development director Bob Duffy had earlier shown a slide that identified Kohl's, Target, Michaels crafts, OfficeMax and Petco. Elias showed a similar Developers Diversified project that had tenants including Super Target, TJ Maxx, Hobby Lobby, Borders, World Market and DSW shoes.
What do you think, do we need another mall in the area? What stores would you like to see? How far would you travel?
The developers said they are looking to pull customers from a 10 mile radius. Much of the stores are already represented in the area. Plus this will be an outdoor mall. Christmas season is one the biggest shopping times of the year. Do you want to spend those days outside walking from store to store, or would you rather shop at Brookfield Square. I have 2 kids and walking indoors is a more pleasurable experience.
One major feature of the development would be a "Town Centre green" joining the community center to the lifestyle center. The plaza will feature lawn, a water fountain and public gathering and event space. It would be 80 percent larger than the community square at the Bayshore Town Centre in Glendale.
Don't we already have all this with our park systems? I would be curious to see your comments
Date: Wednesday, February 18, 2009
Time: 5:00-7:00 PM
Location:
ADVANTAGE FLOORING AND DESIGN
W307N1497 Golf Rd, Suite 200 (Upper Level)
Delafield, WI 53018
262-646-2975
www.AdvantageFlooringandDesign.com
Join us for an evening of customer appreciation, martinis, food, hand massages, and shopping while you check out Advantage Flooring and Design's new showroom! Prize drawings too!
Featuring:
o The Body Shop at Home
o Lia Sophia Jewelry
o The Pampered Chef
o Partylite Candles
o Silk N More
For more information or to RSVP, please call Advantage at 262-646-2975. Walk-in's also welcome!
Are you confused about the Stimulas package? The website below offers a good summary of each of the main points. Do you agree with the current changes? I would be curious to hear everyones thoughts?
H.R. 1, the "American Recovery and Reinvestment Act of 2009," passed the House on February 13, 2009, by a vote of 246 - 184. The Senate also passed the bill later that day. The President is expected to sign the bill soon. The bill is a $780 billion package, with roughly 35% of the package devoted to tax cuts (mostly for 2009) and the rest to spending intended to occur in 2009 and 2010.
View how the U.S. House of Representatives voted>
The mix of provisions of interest to REALTORS® changed frequently throughout the legislative process, with changes continuing to be made just hours before the measure was released prior to the vote. In the end, the elements of NAR's housing agenda were included. Congress and the President have announced that a finance and housing package (including tax provisions) will be the next "big" initiative, so Congress has by no means finished its work as it affects the housing industry and REALTORS®.
The bill includes the following provisions:
Homebuyer Tax Credit
FHA, Fannie Mae and Freddie Mac Loan Limits
Neighborhood Stabilization
Commercial Real Estate
Rural Housing Service
Low Income-Housing Grants
Tax Exempt Housing Bonds
Energy Efficient Housing Tax Credits & Grants
Transportation Investments
Broadband Deployment
Read full article here.
Brad Koenig
www.YourLocalHomeTeam.com
FREE FREE FREE
Mark your calendars
11:00am Saturday, February 21, 2009
7:00pm Wednesday, March, 11 2009
Sponsored by Mayfair Mortgage Inc.
Presented by Stephen Green
As seen on the local news
He purchased a Foreclosure Property for $2
Do you want to know how?
Call or email me to rsvp. This is not an infomercial. Stephen is not selling anything.
Brad Koenig-First Weber
www.YourLocalHomeTeam.com
Brad@YourLocalHomeTeam.com
262-719-7393
Your Local Home Team and First Weber can provide home buyers/seller with a full service, anxiety-free real estate experience, delivering a level of service unmatched in the real estate industry.
Your Local Home Team and First Weber can provide home buyers/seller with a full service, anxiety-free real estate experience, delivering a level of service unmatched in the real estate industry. With over 20 years combined real estate experience our team can service your real estate needs in Waukesha, Jefferson and Dane County.
Brad, team leader has the following designations
ABR-Accredited Buyer Agency
GRI Graduate Realtor Institute
CRS- Certified Residential Specialist (Only 3% of all Realtors have this)
E-Pro- Internet Professional ASP-Accredited Staging Professional
We work with all of our clients closely to educate them on todays market. With our experience we can help you sell your home for top dollar. If you are purchasing a new home we will make sure you find the home that best fits your needs. We would look forward to speaking with you soon. Brad Koenig-Team Leader Your Local Home Team-First Weber 262-719-7393
You can search for and gain information about Personal Listings of Your Local Home Team and all other homes for sale in Johnson Creek, Jefferson, Fort Atkinson, Cambridge, Lake Mills, Watertown, Oconomowoc, Delafield, Waukesha, Brookfield, Pewaukee and Hartland on our site. Also, we offer information about all southern Wisconsin cities and all Wisconsin schools. Too busy to search for real estate on your own? Send us an email with what you are looking for in a home. Your Local Home Team can email you a complete list of all homes for sale with every real estate company and daily real estate updates. No need to visit any other real estate website or call on ads in the real estate newspaper. Your time is precious. Let Your Local Home Team do the work for you.
Are you a first time home buyer?
Buying a home can be confusing and stressful. We take care of the stress and make buying a home fun. We like to meet and have a free no obligation home consultation with every homebuyer before they even look at home. Your Local Home Team will go over with you everything you need to know before you purchase a home. We will explain the home-buying process in great detail including, the offer to purchase, home inspections, real estate appraisals, and financing options. Contact Your Local Home Team today to schedule your no obligation real estate consultation. Schedule an appointment.
Sellers
Your Local Home Team will design a Customized Marketing Analysis (CMA) to assist you in differentiating your home from others in your marketplace.
Your Local Home Team and First Weber gives your home the exposure you deserve. We service all of Dane, Dodge, Jefferson, and Waukesha Counties - which include cities like Johnson Creek, Jefferson, Fort Atkinson, Cambridge, Lake Mills, Watertown, Oconomowoc, Delafield, Waukesha, Brookfield, Pewaukee and HartlandWe use all of traditional methods of selling homes, plus we offer a internet marketing package second to none. All of our homes are featured on multiple websites, including Realtor.com, the #1 visited real estate website in America, and http://www.firstweber.com/, the website for Wisconsin's largest real estate company.
The number one complaint from sellers is that after they list their home they never hear from their Realtor again. Your Local Home Team will never let this happen. We have a state-of-the-art contact management program designed for real estate. Plus, we offer a website that you can log into and view all the showings and services we have done for you. We pride ourselves on our service to all of our customers. For more information on our services, you can view our marketing plan. Interested in the value of your home? Request a Free Market Analysis on your home. To learn more about how Your Local Home Team can market your home, send us an email for a no-obligation consultation at your home or our office.
Q. and M.
Brad was excellent. He made our first home buying experience stress free, enjoyable, and fun. We will definitely think of First Weber when buying a home in the future.
John and Kim
Brad - we are both doing well. House is great! ... We will most certainly pass your name on to anyone who is looking to buy or sell a home in the area. It was really great to find a realtor like you, willing to go out of his way to show us homes. Not to mention, calling us/emailing us 2 years after the sale! Thanks and we will keep in touch.
Randy
Kati helped to make buying my first home an easy experience. If I need to buy or sell a house, I definitely would use First Weber again. Thanks.
Dan and April
Thanks for helping us find our home! It was great working with you!
Matt and Brenda
Thanks for doing all of this research for us... This is why we continue to use you as our Realtor. You are honest and straight to the point and great at your job! Not to mention a good person.
A. & C.
Excellent service before, during, and after the sale!
Charles and Dava
Your Local Home Team, LLC, is a top-notch organization. Brad and [his team] provided us with such tremendous service. They were prompt, courteous, knowledgeable, available, efficient, and technologically advanced. If we were planning another move, we would definitely call them to assist us again and we would not hesitate to recommend their services to our closest of friends. Thanks guys!
Our note: Six months later, when they received a job transfer out-of-state, we listed their house for sale, secured a buyer, and closed less than 45 days later!
Doris
Everyone was very courtious and relayed my messages promptly, very helpful!
Mark and Shannon
Personalized and kept things moving forward. This was our second home we bought with Brad.
Darin and Nicki
To Whom It May Concern:
When the time comes that you are looking for a house and you ask yourself the single most important question, "What Realtor do I choose?" We have the answer for you - Brad Koenig.
Brad works for [First Weber Realtors in Lake Mills]. He is by no means limited to this location. He will get information and/or show you any house at your convenience. This was so important to my husband and I who are in professional settings where sometimes extra time is hard to find. Brad made the time to meet our needs. Whenever we needed to talk to him, he was there either by phone or e mail.
Brad's professionalism and friendly manner helped us get through the entire process. At times when we were unsure, he was right there assuring us things were fine.
Brad earned our highest respect as a realtor and as a friend. We would have never made it through without Brad. He will work till he finds you the right house. We highly recommend Brad Koenig to help you find the house of your dreams.
John and Kate
Dear Brad:
John and I just wanted to drop you a note to tell you what a wonderful experience it was to do business with you. You were always courteous and friendly right from the get-go. You answered our questions and when you didn't have the answers, you diligently researched them for us. You kept us informed of each step and never failed to respond in a timely fashion to phone messages left for you. You answered questions about local establishments and facilities. Brad, even our insurance man was impressed with you, so your business savvy isn't just our perception.
Most certainly, if we know of anyone considering a move, we will refer them to you. Also, you may use us as a referral at any time.
We wish you all the best in your business and private life.
Shannon
To Whom It May Concern:
In November 2001, my husband and I decided to move from Minneapolis to south central Wisconsin. I was beginning my last trimester of pregnancy, so we knew the move would not be an easy one. We began by looking on-line at the MLS. We found a bunch of listings but didn't have a Realtor. My husband was traveling down to Madison on business, so we thought it would be a good opportunity to contact someone. As he was browsing the listings, he noticed Brad Koenig's ad and on a whim decided to contact him. He sent Brad an email and set up a meeting. When my husband told me he had contacted someone, I was hesitant and warned him not to get into contract with a Realtor yet, that I wanted to meet Brad too.
Mark met with Brad and things went very well. He said he felt comfortable working with him. So, the next step was to set up a weekend when both my husband and I could go down to look at potential houses.
Brad sent us a bunch of listings by email. We picked some we wanted to look at and he answered all of our questions about each property. I also felt very comfortable with Brad and was relieved that we had been lucky in contacting a good Realtor. (I had spent two years looking for a house to buy in the Twin Cities, so I know that having a good Realtor makes things go much more smoothly). That weekend, we found the house we wanted. It had everything that we were looking for. Brad was extremely helpful in getting our questions answered, and we had a lot of them! He made sure that things happened in a timely manner and kept us informed of what was going on. He also arranged an out-of-state closing in Minneapolis because we could not travel because we were closing days away from my due date.
I was surprised at how well things went, considering we had to do everything by phone and email. Brad is definitely to thank for this. He is very reliable and thorough. We will definitely be recommending him to friends and family.
Dan and Tami
We were more than satisfied with Brad's services. He not only sold our house, he sold it fast! He had our house on the market within minutes of signing the contract. We didn't have to go through all the showings. He marketed our house using today's latest technology. The virtual showings on the internet weeded out the "lookers" and only sent serious buyers. We had immediate responses from interested buyers.
Brad was easily reachable and handled all the details. All we had to worry about was packing. Any time we needed to talk to Brad he got back to us right away to answer any questions we had. He is truly a full service Realtor. Both Tami and I would be more than happy to recommend him to anyone in need of a Realtor - his service and attention to detail were exceptional!
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