First time homebuyer credit

Jim Walberg Alert: First Time Home Buyer Credit ENDS November 30, 2009!

The American Recovery and Reinvestment Act of 2009 expanded the first time homebuyer credit by increasing the credit amount from $7,500 to $8,000 if the home purchase is completed by November 30, 2009. For home purchased in 2009, the credit does not have to be paid back unless the home ceases to be the main residence of the Buyer within a three-year period following it’s purchase.

This is an incredible benefit for first time home buyers in any part of the country, but is especially helpful the Buyers in the East Bay because of the variety of communities and price points of homes that are currently on the market.  If a person is planning on buying their first home some time in the next six months, they would benefit greatly by making that purchase NOW!  In order to close the escrow on a home by the end of November, it will need to get into escrow within the next week or so. Read more

First time homebuyer credit

East Bay Real Estate: Fall 2009 Is The Best Time To Buy Or Sell A Home!

How many of you believe that the best time in 2009 to buy and sell real estate was the Summer?  Well, you picked the wrong season.  During my 35+ years in real estate in the East Bay,  the best time to buy and sell real estate is the Fall and the Spring!  Out of all my years in real estate over half of the 4^th quarters have been our largest sales months of the year?  Surprised?  The next busiest home sales months have been in the Spring.  Here are the reasons why the Fall is the most active;  lack of inventory;  wanting to get into your next home before the Holidays;  people moving into the area who need to purchase a home so they are able to enroll their kids into school for the second school semester;  and, a Buyer’s need to close escrow on their home before the end of the year because of the tax benefits. Read more