February 24, 2009

 

“A Recession is a Terrible Thing to Waste"

 

That's right, folks aren't wasting time, and they’re buying homes because housing inventories are high, prices are low and interest rates are low, which is a great combination for buyers.   When a Buyer has a sense of value for the dollar they're spending they will make good offers.

 

Sellers are doing well too.  When the property is priced well, and  in good condition when placed on the market for sale they will recieve offers, sometimes multiple offers, but we can't allow this to give us a false notion that the market value is increasing. 

 

 Many indicators will have to be considered to determine an increasing market.  These indicators will be historical data which means we will be at least six months into the market value increase before we know we've had a market value increase.  Example,  our current recession was acknowledged in December of 2008 but we had been in a recession since December 2007. 

 

We have the Military, Border Patrol, Government Contractors and Retirees to thank for our local economy that is doing much better than other parts of the United States.  Sierra Vista is a transitional city allowing our market to have a bit more stability. 

 

 

 

January 19, 2009

 

The Housing and Economic Act of 2008

 

  • The tax Credit is available to individuals who have not owned in last 3  years or  has never owned a  home. 
  • A Tax Credit of 10% of the purchase price, not to exceed $7500.00.
  • Purchase must have been made after April 9, 2008 but before July 1, 2009
  • Income Limits are not to exceed $75,000 for single or %150,000 for couples
  • The Tax Credit is more of an interest free loan which must be paid back in 15 years

 Call Evetta for further provisions provided in this Law.  520-227-9329