Update on Homebuyer Tax Credit
While nothing has been finalized quite yet, I want to make sure to keep you posted on the latest and greatest with the tax credit extension/expansion. As of this morning, the House of Representatives has approved legislation that would extend AND expand the credit. The House vote comes after the Senate voted yes on Monday night and while there is more work to be done, word on the street is that an agreed upon bill should reach the President for his signature by the end of this week. Here’s what has been agreed upon so far:Under the proposal, individuals with income up to $125,000 a year and couples earning up to $225,000 would be eligible for the credit. The extension woul

7 Reasons to Own Your Home
1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.3. Equity. Money paid for rent is money that you

How to Make Your Home Appealing to Buyers

What to Look For When Purchasing a Short Sale or Foreclosure Home
Short sales and foreclosures - seems to be all we hear about nowadays. And as popular as they are there are some areas you may want to look for when you go to purchase:1. area/neighborhood - are there alot of rentals in the immediate neighborhood? if so this may indicate a declining area. drive around and get a good "gut feel" for the neighborhood where you will be living. Do people take care of their front yards? Are there many cars parked on the street?2. schools - be sure to research the school systems if you have children or plan to. Buyers today are very conscious about the quality of the schools their children are attending3. demographi

What's Going on With This Wacky Phoenix market?!
As I meet people inevitably what they end up asking me is "how's the market?" As I try and get a feel for the person's situation I formulate an appropriate response. But more often than not people seem to be curious and want to be in the know, more than they are thinking about making some kind of move themselves.Recently Arizona moved to the 2nd highest foreclosure rate in the US, behind Nevada. We still have a long way to get through all of this, as the foreclosure pipeline is quite full (50,000 statewide from what I understand). We had a slight dip in foreclosure notices in September which is good news, but this has happened to us in the past without the lasting t