When 2009 opened, Barack Obama was inaugurated, and he very quickly passed the Economic stimulus bill. This stimulus package included an 8000 dollar tax credit for new home buyers. This is a fantastic incentive, however it is a down the road repayment, and the department of Housing and Urban Development (HUD) believes they can do one better. They have chosen to tweak the plans and adjust it so that the Federal Housing Authority’s approved lender list can provide buyers with the tax credit up front, for use at the close of the house, when the money is most needed.
Several states have already implemented this program on one level or another. Some are allowing for a tax cushion but it will still permit first time home buyers to purchase a home, using less of their own money at closing. This will free up the costs for closing to be used to furnish the home with needed appliances and furniture. This aspect of the economic stimulus will actually stimulate the economy, and with the active help of HUD it will do so faster than it was originally written to.
HUD has long been known to facilitate productive assistance to home buyers and mortgage assistance to anyone who qualifies. With that in mind there is no doubt that across the country and right here in Austin, new home buyers will be able to facilitate the best possible use of their 8 thousand dollar new home credit very soon.
When someone is looking for a second home, either as a vacation home or an investment property, the motivation and influencing factors are very different than that from a first home buyer. This is more valid in today’s buyers market.
The National Association of Realtors (NAR) released a report that showed vacation home sales dropped a whopping 30 plus percent in 2008. It appears to have parallel reasons compared to the primary residence market. The sales came within the deeply distressed, deeply discounted home market. The median price of a vacation home fell as far down at 150 thousand dollars across the country. Of those who did settle on the second home purchase, the vast majority planned to use the second home for themselves. This means that people are still looking for second homes and are financing them.
Even with the declining numbers, there are significant pluses to this. The housing market is poised for growth again, especially in the Austin area. This also means as people are looking to sell their home, they have two potential markets to target. Growth options continue to be opened, making the housing market more viable.
Now is the time to buy, and sellers are getting more attention.
Austin Energy has a program developed to help residents, business owners and property investors reach for a greener environment. They offer green education programs, assistance and consulting on all levels of real estate. To further show their commitment to the community as a whole they also offer free home energy improvements to those who qualify.
This program is targeted to the low and moderate income range, and is designed to improve the energy efficiency of the living space. This of course improves the energy costs of the home and enhances the comfort level and lifestyle.
If they need to, Austin Energy will provide and install the needed materials for attic insulation, duct repair and or sealing, plumbing caulking as needed. If need be they will even take time to update the weather stripping around the doors and install solar screens. With these minor changes a home’s energy value can increase dramatically. With Austin Energy’s program, anyone who qualifies can see the benefits rapidly in their bill.
Visit: Austin Energy to see if you qualify.
Does your home need a remodel? Most homes don’t need a full remodel before going on the market, but there are some things that you can do before you market your home that will increase the overall value. Some of these suggestions are simple and easy to do, and will make a big difference when it is time to sell your home.
1 – Paint outside and inside.
Over time the color of paint loses it luster and vibrancy. A simple re-coat can significantly brighten a home, and clean away any wear and tear that might be visible. Along with the time it takes to lose it color, the color choices may have fallen ‘out of style’ and thus may lessen the value of your home. By reviewing you color selection and updating as needed, you are able to maintain or improve your home’s overall value.
2 – Tile your home
Tile is both durable and easy to maintain. This couple will enable your home to be the best and most comfortable possible for all who will visit, and perhaps to new home buyers. Carpet wears over time, and can diminish a home’s appearance significantly. The change from one to the other can be done easily and far more inexpensively than most people may anticipate. Often it costs the same as or less than laying down new carpet.
3 – Install exterior shutters around the windows.
Although this is a purely cosmetic appeal, it significantly improves your home’s look and feel. Numerous surveys and studies have been done and something as simple as wooden shutters make a home feel more cozy and comfortable, which would make the home both more appealing to new buyers and easy to transition into.
These are only 3 of the most basic options available to you. They can be done with little extra expense. If you would like to improve for a more lasting and complete package, hiring a home inspector would be the best next step. He or she would be able to give you a complete picture and guide you to the best points to focus on. You can check the cost vs value report to see how much you will expect to see back for each remodel.
Home Buyers find opportunity during the summer. As sellers realize that the warm weather is more accommodating to the moving process they put their homes on the market. This wonderful process enables a buyer to shop for the home they want, and will be happy in for years to come. This means now is the time to prepare to buy the home of your dreams.
To help in the process, take a few moments to review these 3 tips:
First things first, determine what it is about the home you’re in that is making you want to move. This will help you in your search. You will know what you are looking for so you can identify it clearly to your Realtor.
Finding the best Realtor who can accommodate your needs is the next tip. You will need to do some research, as there are multiple thousands of registered Realtor in the area. You will want a dedicated Realtor, much like you find with the award winning Affinity Properties Team. A dedicated Realtor will search for a home that fits your description, not just what they have on the market in the office. They will put your needs and desires first and foremost. This means you get what you want, need and can grow with.
The last tip relates to your budget and financing. Evaluate what you have to spend on the process, closing budget, down payment etc., and take that to your finance company of choice. Have a pre-qualification letter in hand before you start searching. It will help guide you toward your budgeted home of choice. If you have a home to sell, you can have a contingency clause written into any sales agreement, and financing agreement.
By using these great tips together you will be on the best track to find your new home.
The weather is getting warmer, so is the itch to move. If you are wanting to sell, now is the time to watch the area and see the market move. This means that now is the time to start planning for the move and the sale. As with everything, advanced planning makes everything move smoothly.
Here are some simple and quick tips for preparing for the home sale that will open the way to your new home purchase.
First things first, find the right Realtor. There are nearly 8 thousand licensed real estate agents and brokers in the Austin real estate arena. Many chose to do this part time, while working another job. This means they may have less experience than you expect they may. When you are looking for your agent, look for experience, and a company that has a proven track record. This is essential especially in this buyers market. Affinity Properties can certainly prove success, even now.
Prepare from the moment you consider listing. That means make sure your house is clean, in good repair and staged. Doing this work in advance will help you and your Realtor, determine what needs to be done for you and for the top dollar sale of your home. When possible have the home inspected before you place it on the market. This will give you an accurate understanding of what your home needs, or doesn’t while determining the asking price.
Listen to your Realtor, if you’ve taken the time to research a little bit you know that your Realtor will be able to tell you when the market is ready for your home. By timing the release to the market to the flow of your area you will be able to sell your home in the briefest time possible. Summer is the busiest time to sell your home, don’t be caught unprepared.
With this combination you will be able to get the best price, in a brisk summer market You will be able to combine these tips for the greatest success.
Don’t forget the home buyers side of this 2 part – it is the next article.
