Some Arizona buyers can now get up to 22% in down payment assistance. This is an amazing deal. There are stipulations. There are income limits based on household size. You can also not own a home at this time and this must be your primary residence. The home must be less than $322,000 and be a foreclosed property. But for so many first time home buyers, teachers, fire fighters, and so many others this is unique opportunity to get their piece of the stimulus package. I have several clients working to use this program right now.
Plus if you are a first time home buyer you can also get the $8000 first time home buyer tax credit.
Lake Havasu is the perfect place. We can help low to middle income people get that they truly love and discover the joy and advantages of home ownership.
Tuesday, July 21, 2009
Monday, June 8, 2009
Home sales for May up from ’08
Realtors optimistic across United States
By Tony Waggoner
Saturday, June 6, 2009 9:06 PM MST
Home sales in Lake Havasu City continued to improve in the month of May.
The real estate market saw a slight increase from May 2008 in the number of homes sold, but remained stabilized from this past April. In May, the Lake Havasu Association of Realtors reported 154 homes sold. That number is slightly higher than May 2008, when 142 homes sold, but equals the statistics from April of this year.
Association of realtors President Pat Landry said at a recent trip to Washington, D.C., for the National Association of Realtors those in attendance seemed pretty optimistic, as have local realtors. Landry said she expects things may be back to normal in 2011, so now is still the best time for people to buy, especially considering the $8,000 tax credit offered by the federal government, which Landry says buyers might be able to apply to their down payment in the near future.
This comes at a time when the price of homes is very affordable, Landry says. While more homes are being sold, the median price of those homes remains considerably less than last year.
The median sales price for residential homes continued to rise in May, though. With foreclosed homes still being the majority those sold, the median sales price was around $152,750, an increase of approximately $3,800 from April. However, the median sales price continued to drop from this time last year. Home sales averaged around $207,750 in May 2008, a difference of $55,000.
Lake Havasu City is seeing a reduced number of homes on the market. In April 1,022 homes were for sale in the city. As of May, the number of homes for sale was 969.
One area Landry said she is concerned about is short sale homes. Landry said she believes the banks should be looking into more short sales, instead of letting homes go into foreclosures. While a majority of homes sold in Lake Havasu City are foreclosures, 74 to be exact, Landry says more money could be made per home on short sales.
“If these banks would hurry up (with closing homes), they’d make more money,” she said.
Lake Havasu City currently has 96 active foreclosure listings and 101 pending escrow. Along with those figures, the city has 76 short sale homes. Eight short sale homes sold last month.
Landry said one of the problems many of her clients have found is banks are outsourcing the companies who are processing home sales to other countries. To her, she said, this doesn’t make sense; especially with the number of Americans they could employ to do the job. She said one client of hers reported being on the phone with someone he or she did not understand for more than 1 ? hours.
As the summer progresses Landry says she believes things would pick up even more. She said the reason sales have risen and then leveled off is because of the snowbirds buying before they left for the season. Now, with more and more boaters coming in for the summer season the next two months, things should improve, she said.
You may contact the reporter at twaggoner@havasunews.com.
Wednesday, May 20, 2009
$8000 Home Buyer Tax Credit
There are many myths right now about the first time home buyer tax credit. I wanted to pass on some valuable information. Not everyone qualifies but if you haven’t owned a home in the last 3 years or know someone that hasn’t this could help them out.
This is a tax credit that means you get this money dollar for dollar back on your taxes. Pretty much a direct check from the IRS. There is only a limited time to use this credit. You must buy a house before December 1st, 2009.
You can make an ammendment to your 2008 taxes to get this money back right away. This is an amazing deal. Please pass this on to anyone this might be of use to. If you have any additonal questions please give me a call or send me an e-mail. I would be happy to send you the IRS form to claim this on your taxes.
Click the link below for more facts.
http://www.ambercheramy.com/_24_8000_20_Home_20_Buyers_20_Tax_20_Credit.html
This is a tax credit that means you get this money dollar for dollar back on your taxes. Pretty much a direct check from the IRS. There is only a limited time to use this credit. You must buy a house before December 1st, 2009.
You can make an ammendment to your 2008 taxes to get this money back right away. This is an amazing deal. Please pass this on to anyone this might be of use to. If you have any additonal questions please give me a call or send me an e-mail. I would be happy to send you the IRS form to claim this on your taxes.
Click the link below for more facts.
http://www.ambercheramy.com/_24_8000_20_Home_20_Buyers_20_Tax_20_Credit.html
Wednesday, May 13, 2009
FHA Down Payment Assistance
Recent news from the National Association or REALTORS Midyear Confrence in Washington D.C. indicated the $8000 First Time Home Buyer Tax Credit can now be used to help make the down payment for first time home buyers using FHA loans. FHA approved lenders will not me able to monteize the the credit to be used toward the down payment and secure the funds using a bridge loan. This is an awesome acomplishment and really opens the doors even wider for first time home buyers. They can now get down payment assistance, low interest rates, and great homes at fabulous price. Now more than ever it really is the time to buy!!
Thursday, May 7, 2009
Home sales continue to look up
Home sales continue to look up
By TONY WAGGONER
Wednesday, May 6, 2009 10:11 PM MST
Home sales in Lake Havasu City continue to show signs of turnaround.
Statistics released Tuesday by the Lake Havasu Association of Realtors, indicate the number of residential homes sold in the city jumped 12 percent in April over the same time last year. There were 154 homes sold last month, as compared to 120 in April 2008.
The increase in homes sold comes after median sales prices dropped more than $65,000 from last year.
However, Realtors continue to close the gap between the total sales dollars. Dollar amounts for April were just more than $3 million less than this time last year, at $27,635,314. Last year’s figures were $30,852,999.
April’s total dollar amounts also helped Realtors gain some ground on the year totals. Through April 2008, sales dollars were more than $109 million in the city. This year, those figures are just slightly less at $91.5 million.
Pat Landry, president of the Lake Havasu Association of Realtors, says the reason continues to be the number of foreclosures on the market. In April, sales on foreclosed homes accounted for more than half the total sales in Lake Havasu City, Kingman and Bullhead City. There were 78 foreclosed homes sold in Lake Havasu City, 37 in Kingman and 59 in Bullhead City. Lake Havasu City had 208 foreclosures on the market, Kingman 123, and Bullhead City reported 115.
Landry said she expects the number of foreclosed homes sold to increase in the next month, because of the number of those homes still pending escrow.
The departure of snowbirds from Lake Havasu City is having an impact, according to Landry. Part-time residents from as far away as Montana and Wisconsin currently have homes pending escrow. Landry said this is a typical trend that occurs each year right before winter visitors go home.
One thing, she said, that has been different is prospective buyers are taking a look at more homes, making sure the one they are buying is what they want for the right price.Buyers are looking at how the home was built, including insulation, windows, air conditioning and energy efficiency to determine what utility costs they would incur with the purchase of a particular home.
The American Recovery & Reinvestment Act tax credit for first-time homebuyers has yet to impact sales, Landry said. Under the stimulus plan, first-time homebuyers would receive $8,000 tax credit next year. Landry said if the tax credit applied to every homebuyer, it might have more of an impact. With homebuyers not receiving the credit when they apply for the initial loan, Landry said she doesn’t see it making much of a difference. In fact, one first-time homebuyer she dealt with didn’t even know about the tax credit.
As the economy improves, the housing market will follow or vice versa. Landry said both are neck and neck with each other. And, with low-interest loans and low market prices on larger homes, she said things should continue to move upward. Homebuyers should be aware, though, lenders are being stricter on who they will hand out loans to.
“Before it was too easy,” she said. “Now (lenders) are saying they are going back to the basics of years ago.”
By TONY WAGGONER
Wednesday, May 6, 2009 10:11 PM MST
Home sales in Lake Havasu City continue to show signs of turnaround.
Statistics released Tuesday by the Lake Havasu Association of Realtors, indicate the number of residential homes sold in the city jumped 12 percent in April over the same time last year. There were 154 homes sold last month, as compared to 120 in April 2008.
The increase in homes sold comes after median sales prices dropped more than $65,000 from last year.
However, Realtors continue to close the gap between the total sales dollars. Dollar amounts for April were just more than $3 million less than this time last year, at $27,635,314. Last year’s figures were $30,852,999.
April’s total dollar amounts also helped Realtors gain some ground on the year totals. Through April 2008, sales dollars were more than $109 million in the city. This year, those figures are just slightly less at $91.5 million.
Pat Landry, president of the Lake Havasu Association of Realtors, says the reason continues to be the number of foreclosures on the market. In April, sales on foreclosed homes accounted for more than half the total sales in Lake Havasu City, Kingman and Bullhead City. There were 78 foreclosed homes sold in Lake Havasu City, 37 in Kingman and 59 in Bullhead City. Lake Havasu City had 208 foreclosures on the market, Kingman 123, and Bullhead City reported 115.
Landry said she expects the number of foreclosed homes sold to increase in the next month, because of the number of those homes still pending escrow.
The departure of snowbirds from Lake Havasu City is having an impact, according to Landry. Part-time residents from as far away as Montana and Wisconsin currently have homes pending escrow. Landry said this is a typical trend that occurs each year right before winter visitors go home.
One thing, she said, that has been different is prospective buyers are taking a look at more homes, making sure the one they are buying is what they want for the right price.Buyers are looking at how the home was built, including insulation, windows, air conditioning and energy efficiency to determine what utility costs they would incur with the purchase of a particular home.
The American Recovery & Reinvestment Act tax credit for first-time homebuyers has yet to impact sales, Landry said. Under the stimulus plan, first-time homebuyers would receive $8,000 tax credit next year. Landry said if the tax credit applied to every homebuyer, it might have more of an impact. With homebuyers not receiving the credit when they apply for the initial loan, Landry said she doesn’t see it making much of a difference. In fact, one first-time homebuyer she dealt with didn’t even know about the tax credit.
As the economy improves, the housing market will follow or vice versa. Landry said both are neck and neck with each other. And, with low-interest loans and low market prices on larger homes, she said things should continue to move upward. Homebuyers should be aware, though, lenders are being stricter on who they will hand out loans to.
“Before it was too easy,” she said. “Now (lenders) are saying they are going back to the basics of years ago.”
Monday, May 4, 2009
Warren Buffet Says Real Estate is Turning Around
Today on CNBC's Squak Box famed investor Warren Buffet say he is seeing a turn around in the Real Estate Market and hopes to see a full economic turn around soon.
Saturday, April 25, 2009
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