North Lake Tahoe Real Estate- Why Fed Changes are Important to YOU
Lake Tahoe
As the Fed now has fewer funds to last through the remaining months of the program, Its ability to keep rates low will wane. As the Fed’s program winds down and ends, we’ll likely see two things happen:
First, we will probably see higher levels of volatility- with rates sometimes shifting dramatically in the middle of the day. That means it is more important than ever for buyers to work with a knowledgeable mortgage professional that has their eye on the market at all times and can provide trusted, proven advice.
Second, since MBS will have less support from the Fed, rates are likely to rise over time.
North Lake Tahoe Real Estate- First Time Home Buyers Get an Extension on the Tax Credit
Obama will be signing new legislation that will extend the $8,000 credit for first-time homebuyers for sales contracts entered into by April 30th, 2010. The sales contract will need to be closed by June 30th in order to be eligible for the tax credit. The first time home buyer tax credit has also been expanded to include a new $6,500 incentive for buyers looking to move from their current home if they’ve been residing there for five consecutive years out of the last eight.
If you or someone you know has been considering purchasing property for the first time I would love to discuss this legislation and your options under it.
North Lake Tahoe Real Estate-Getting the Most from Your Remodel
Get the most from your dollar
Despite a slow market and a decrease in the resale value of some remodeling projects, Realtors report that the smartest home improvement may also be some of the least expensive. According to the Results from the 2009 Remodeling Cost vs. Value Report the small-scale exterior projects are the most profitable at resale.
Eight out of the top 10 projects in terms of costs recouped were exterior replacement projects that cost less than $14,000. Certain types of door and siding replacements, as well as wood deck additions all returned more than 80% of project costs upon resale. A steel entry door replacement - a new addition to this year’s list - recouped 128.9% of costs, followed by upscale fiber-cement sliding replacements at 83.6%. Wood deck additions recouped 80.6 % of costs.
Giving your home curb appeal still wins out as a smart investment. First impressions can be the most lasting and lucrative to investing in the remodel of your home to sell it.
On a national level, the project with the biggest improvement from 2008 was the attic bedroom addition, recouping 83.1% of remodeling costs compared to 73.8% in 2008. The only other interior project that landed in the top 10 was a minor kitchen remodel with 78.3% costs recouped. Cities on the Pacific coast such as Alaska, California, Hawaii, Oregon and Washington once again outperformed the rest of the nation in terms of remodeling costs recouped upon resale.
North Lake Tahoe- The Homestead Exemption: Can It Help You?
Can The Homestead Exemption Help You?
Most states offer some type of “Homestead exemption” that helps home owners protect a portion of their home equity in the event of bankruptcy. If you are a current homeowner looking at bankruptcy or foreclosure and you have some savings, you should consult with an attorney to find out whether the Homestead exemption can work in your favor. It may be possible for you to invest your savings in a house and protect it from creditors.
North Lake Tahoe- Bankruptcy and Real Estate: Buying Your Home
Buying A Home In Bakruptcy Worth The Hassle?
In today’s economy there are many people going bankrupt and are selling their home. This creates a good market for buyers looking to jump into real estate with a home that is being sold at a deal but is it worth the headache buying a home in bankruptcy? Let’s start out looking at buying a home in foreclosure.
The Buyers Perspective
If the bankruptcy filing goes after you have entered into a purchase agreement, the bankruptcy by itself doesn’t automatically lead to a deal breaker. If the seller can’t meet the closing date or other deadlines built into the contract, which is often the case in bankruptcies, the buyer can back out of the deal. Moving forward you can still purchase the home but this type of transaction can be very complex so my advice for buyers is to consult with a bankruptcy attorney. If you’re buying a home from a builder who is bankruptcy you face the risk of the builder being able to complete construction or fulfill it’s promises such as warranty obligations to you. Whatever you decided when buying a home going into foreclosure you want to take the time to at least talk to an attorney.
