HOME BUYER TAX CREDIT EXTENDED TO SEPTEMBER 30, 2010 !

Were you in line to take advantage of the $8000 or $6500 Home Buyer Tax Credit, met the requirement of having a signed sales contract by April 30, 2010, but UNABLE TO CLOSE BY JUNE 30, 20100?  You are in luck!   

By unanimous consent, Congress has sent  President Obama a plan to give home buyers an extra three months to complete their transaction and qualify for the federal tax credit.


 

OLD RULES:

• Signed sales contract by April 30, 2010
• You must be either a first time buyer or a repeat buyer with certain qualifications.
• You must complete the sale by June 30, 2010.

NEW RULES:

• You must have a signed sales agreement which was dated on or before April 30, 2010.
• You must be either a first-time buyer or a repeat buyer with certain qualifications.
• You now have until September 30, 2010 to close on your sale.

Do you know that if you are a service man or woman  or a government employee stationed out of the country, the entire program is extended for you to April 30, 2011 and June 30, 2011, respectively?  Perhaps you know someone who meets these qualifications -- pay it forward and pass this information on.

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Feel free to email me for specific details

HAPPY BIRTHDAY USA !

Generally regarded as America’s birthday the Fourth of July is one of the most entertaining – yet sober -- holidays we celebrate.  The music and fireworks remind us WHY WE ARE CELEBRATING.

ON July 4, 1776, THE DECLARATION OF INDEPENDENCE was adopted by the Continental Congress as an official way to declare the United States’ independence from Great Britain. Every year in the United States, we still celebrate that independence with parades, festivals, barbecues, fireworks and picnics.

As Americans, we celebrate the freedoms we enjoy today because of all the brave souls who came before us who risked their lives and the many who paid with their lives in order that we may enjoy enduring freedom.

So go out and celebrate, but do so with reverance and remembrance.  Here is a schedule and information about local firework displays:

Friday July 02, 2010 at dusk

Ypsilanti, MI

The Lake Shore Family Festival Fireworks – over Ford Lake
Got a boat?  Get out there!
Admission: See website | Discount tickets are available at many Ypsilanti area businesses.

Festival runs from July 1 - 4th, with Fireworks on TWO nights, Friday and Saturday. Carnival, truck show, food - lots of events. See website for complete schedule for each day.
Phone: 734-482-2850 
http://www.lakeshorecelebration.com/

Saturday July 3, 2010 at dusk

Dexter, MI

Hudson Mills Metropark Fireworks
8801 North Territorial Road
Admission: $5 Vehicle entry permit
Music from 7pm - 11pm
Fireworks at 10 p.m.
Located 20 minutes west of Ann Arbor at 8801 North Territorial Road, Dexter

Phone: (734) 426-8211
http://www.metroparks.com/

Manchester Fireworks Display

Carr Park / 600 W. Main St., Manchester
 Located 30 minutes south west of Ann Arbor
Admission: Donations appreciated

Plymouth, MI

Ann Arbor Trail at McClumpha
Admission: Free

Phone: 734-453-3840 begin

http://www.plymouthtwp.org/

Jackson, MI

Jackson Summer Celebration Fireworks Extravaganza
Cascade Falls Park
Admission: $5; 10 and under free

Entertainment by Karen Kidder and the Alibi Band

Phone: 517-788-4320
http://www.visitjacksonmi.com/

Sunday 7/4 at dusk

Willow Metropark
Fireworks at 10 p.m.
Located 25 minutes east of Ann Arbor at 17845 Savage Road, Belleville
Admission: $5 Vehicle entry permit

Whitmore Lake, MI

Admission:  Free

Parades, attractions, bands, merchants, floats, tractors, Kiwanis Barbecue, fireworks

HOMEBUYER TAX CREDIT EXTENSION?

Are you feeling a bit of panic to close on the signed sales contract for your new home prior to June 30, 2010, so that you can realize your $8000 or $6500 tax credit?  You are not alone!

Apparently, the U.S. Senate is listening to you. A measure was introduced in the U.S. Senate Thursday, June 10, 2010, that would extend the required closing date from June 30, 2010 to September 30 2010.

Here's The Scoop:

• You must have a valid contract in place which was signed by April 30, 2010.

• Currently, it is required that you close on that contract by June 30, 1010, in order to claim your tax credit.

• If the measure is passed, it will be added as an Amendment to the jobs legislation that is currently pending in the Senate. 

• You will then have until September 30, 2010, to close on your new home and the tax credit will be yours!

HOME SELLERS ~ A STUDY OF TODAY'S BUYER

Today’s buyer has their mind full of concerns.  Oh yes, it's still a Buyer's Market, but declining values are a concern shared by both of you!  Gone are the days when price, condition and location were all a Buyer had to consider.  Now, the value of the investment is being questioned.

Education is power!  If you are contemplating selling your home, arm yourself with information to attract the right buyer to your home. 

PRICE IT TO SELL!

Buyers begin their search for a home with prices.  They may do a little bit of unrealistic looking, but when push-comes-to-shove, they seek a home at a price they can afford.

Buyers are pre-qualified by their lender.  This tells them exactly how much they can afford.

Buyers work with real-estate professionals.  A Realtor knows the market.  If your home is over-priced, your most qualified prospect may never see it . . . not to mention the fact that you are making your competition (other similar homes on the market that are priced correctly) look better.

Today’s Buyers have the tools to compare homes ~ videos, virtual tours, feature sheets, multiple photos.  Make sure your home has these resources and the best presentation.

Buyers compare and choose homes.  They walk through homes with their Realtor and are quick to stack up the amenities as compared to price.  Will your home be on their short list?

Buyers lenders confirm offer price with an appraisal.  Standards have tightened because there is a new code of conduct that appraisers and lenders must follow.   If the appraisal comes in too high, guess who suffers?

Buyers face new lending challenges.  There are no more non-conforming loans, no-doc loans . . . creative financing is what got us into this mess!  Are you willing to help your buyer by offering seller concessions?

Buyers are scared.  Give them reassurance  by showing them ways your home is special – property taxes, homestead exemption, write offs.  It’s important to share what you know.  Your Realtor can help you with this.

Buyers have unprecedented inventory to choose from.  Is your home priced to sell?

ANN ARBOR - A GREAT PLACE TO RETIRE!

According to CNN Money, Ann Arbor is one of the top 5 places to retire. Why? It’s cold here in winter!

Well . . . . . . . . 

•    University of Michigan – students and faculty – make up 40% of the total population, and this offers the non-college generation an opportunity to attend free lectures, concerts, museums . . .

• University of Michigan – makes Ann Arbor’s economy more stable than neighboring communities.

• University of Michigan Hospital – world class health care – one of the highest doctor-to-patient ratios in the nation – 815 physicians for every 100,000 residents (the national average is 170 doctors for every 100,000 people).

•  University of Michigan - sports!

• Activities – the area appeals to people who want to do more than just play golf – although there’s that, too!

•  Median home prices are down 32% from their hayday.  Combine this with low interest rates and it's a perfect time to buy

• If it gets too cold here, we’re only a hop-skip-and a jump from a major airport!

If you can think of more good reasons, please drop me an email!