In my video I explain to first time home buyers in Western Massachusetts why now is a great time to buy a home. There is this fantastic tri-fecta in place right now: first time home buyer tax credit + low interest rates + low home prices = great values!
I have been helping buyers and sellers with their real estate decisions in Western Massachusetts for over 20 years! If you are thinking of taking advantage of the first time home buyer tax credit, get in touch...I love to help! Don't forget we have to have a home picked out and under contract by April 30, 2010! Be sure to check out my other posts that help to teach first time buyers about the process of buying their first home.
If you are considering making a move to reap the reward of the $6,500 tax credit, working with me can raise your credit up to $7,100! The federal housing tax credit guidelines for existing home owners allows for up to $6,500 for buyers who are under contract to purchase by April 31, 2010 and who close on the property prior to July 1, 2010.
What is the definition of a move-up or repeat home buyer?
The law defines a tax credit qualified move-up home buyer (“long-time resident”) as a person who has owned and resided in the same home for at least five consecutive years of the eight years prior to the purchase date. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. That is, both spouses must qualify as long-time residents, with at least five years of principal residency for each. Repeat home buyers do not have to purchase a home that is more expensive than their previous home to qualify for the tax credit.
Make your move with me and I can add $600 to the overall credit!
The Park Square Realty Corporate Advantage Program is a one stop shopping system with the extra advantage of a credit at closing...win-win! You will get: A personal home buying consultant. Realtor/real estate agent Lesley Lambert A personal home mortgage consultant ... our in-house Wells Fargo representative A personal attorney chosen from our list of partners A credit at closing! Whether you are a home buyer who is moving up or moving down, these credits are available to you through April 30, 2010. Don't lose out on this opportunity....the clock is running down! Western Massachusetts home buyers, contact Lesley Lambert at Park Square Realty in Westfield, MA
That is when the home buyer tax credit expires. No kidding. No rumors of extensions.
GONE.
If you are a first time homebuyer, you must close on your new home by April 30, 2010 to collect up to $8,000 in tax benefits.
Other buyers who may qualify for the "Step Up" Home buyer credit must be in contract by April 30, 2010 with a closing no later than July 1, 2010 to collect up to $6,500. My blog post on the tax credit extension has a complete guideline for your review.
I always love working with first time home buyers. There is a blush to the whole process, an excitement and energy that you don't get with anyone except people buying their first home.
With the tax credits being offered, many people are taking advantage of the timing and credits to get into a new home and it has been my honor to help many of them purchase homes in Westfield, Holyoke, Springfield and surrounding communities.
Below is a slide show of my most recent buyers who purchased a lovely home in Holyoke. The transaction was very nice and the seller even threw them a party prior to the closing so that they could meet all of the neighbors and see pictures of the home over the years. In all my years selling real estate I have never seen this done: it was simply lovely.
There are many people hoping to take advantage of the first time and step up buyer tax credit extensions, I can help you be in your new home before the credit expires!
I am so appreciative of the people who choose me to help them buy and sell their homes.
Located on a pastoral 2 acre lot in the Mundale section of Westfield, MA is this historically significant Colonial.
Boasting 5 bedrooms with the potential for a first floor Master Suite, this home is large (2488square feet!) and has architectural integrity.
Loving families have inhabited these gracious walls since the mid 1800's and your family can be the next!
For more information, photos, historic documention and video visit the website at http://www.1046granvilleroad.com
Contact Lesley Lambert of Park Square Realty at 413-575-3611 or @LesleyLambert on Twitter or email therealestatenatural@yahoo.com for your private viewing of this wonderful opportunity.
I have had many young buyers ask me if I really think now is the right time for them to purchase a home. The answer is YES and not only because I would love to help them. I would say yes to these young people even if I wasn't involved in the real estate industry and this is why:
#1- The tax credit. I had a buyer purchase a home in Springfield, MA, file an amended tax return and get her $8,000 within two weeks after closing!
#2- Home prices. It seems to be unanimous that home values have tabled in the Western Massachusetts area. Buyers can enjoy the benefit of the 5-9% deflation in home values since 2005. Values have tabled and are expected to start gaining in certain areas.
#3- Interest rates. While they have been fluctuating over the past few weeks, an FHA mortgage remains a great option for almost all first time homebuyers.
Be sure to see this great first time homebuyer home! Vinyl siding, replacement windows, updated kitchen, fenced yard, one car garage, large master bedroom, immaculate move in condition!
In my over 20 year career the one client that has always been a favorite is the first time homebuyer.
What isn't to love about the flush of excitement as a young adult sheds the protection of parents, landlords or school and makes the decision to strike out on their own? Their energy is contagious and they are open to education and guidance.
These fledgling buyers almost always do everything on time and as you requested because they don't have the bad habits of more "experienced" buyers.
I am working with a series of first time homebuyers lately, most of them are young women (neat!) and have been caught up in their excitment. There were issues with the last two closings, but these ladies kept their cool, took my (very good) advice and hung in there while things were sorted out.
Getting to the closing with these buyers has been so much fun....seeing them take the keys to their new home is a gift to my spirit.
What is even better is the recognition and thanks that they freely offer to me. Both young ladies are having me to their new home after they settle in and both stay in touch with me regularly. One of them texted me when she hung the "Welcome Home" picture I gave her and today I got a thank you note in the mail from another.
What could be a better feeling than opening up a note like this?:
It is no news to you that mortgage interest rates are terrific right now. I have heard a lot of speculation from potential buyers that maybe they should wait because they might get lower. The opinion of many professionals is quite the opposite, however.
These low rates are historic and not bound to last for too long. The most likely change is that the rates will increase, not decrease, especially if the market improves.
With the convergence of terrific rates, low home prices and the first time homebuyer tax credit: now may be the best time in history to buy a home!
This flyer can explain how a 1% uptick in the mortgage rates will affect your purchasing power:
What is the Big Deal With Interest Rates? - Free Legal Forms If you are ready to make a move in the Westfield or Western MA area then I would love to help you! Call 413-575-3611 or email: therealestatenatural@yahoo.com!
Are you a first time homebuyer who is confused about the tax credit changes? Perhaps you are considering becoming a first time homebuyer and you want to understand how the first time home buyer tax credit will help you? Let me help to explain it to you...
There are a few key items that I think are important:
#1- The tax credit is increased by $500 since 2008 and does not require repayment as the old credit does.
#2- Any first time home buyer is eligible. A person is considered a first time buyer if he/she has not had any ownership interest in a home in the three years previous to the day of the 2009 purchase.
#3-The full $8,000 is applied to any home purchase over $80,000. Purchases under that will recieve 10% of the purchase price.
#4- Income restrictions are $75,000 for an individual and $150,000 for a married couple filing jointly.
Watch the video below for some other information on what the first time home buyer tax credit can do for you!
If you are a first time home buyer in Westfield, MA or Western MA and are looking for an agent that can educate and guide you through this important step, look no further! I love working with first time home buyers. Be sure to view my other first time homebuyer videos:
