Foreclosures / Bank Owned properties have come to a stop !
Good Monday Morning!
From Orlando, Florida where I am attending The annual Keller Williams Realty convention.
This is 5 day training and networking session. About 9,000 agents from all over the US and Canada are here to grow to a higher level.
Currently Foreclosures/Bank Owned Homes for Sale ! properties have come to a stop. Most of the Banks and lenders have stopped foreclosing on properties until March 5th. This is when the new stimulus package roles out for Home owners with hybrid / Pay Option loans. I will go more in detail on that in my monthly Real Estate Newsletter. We will see more higher end homes foreclosing here in the Desert in the next 180 Days.
To get total acces Visit: http://www.FindMyDesertHome.com
Now if you are considering selling your home in a changing market ! Get an approximate value of your home or property e-mailed to your inbox within 24 Hours. http://DesertCMA.com
Palm Springs Mortgage Market Update:Tax Credit for Homebuyers
First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction – a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income.
The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. buyers will have to repay the credit if they sell their homes within three years.
Remember, as a general rule, negative economic news is good for interest rates, while positive news causes rates to rise.
Have An Awesome Week!
AND HERE'S YOUR MONDAY MORNING COFFEE!!