717 Real Estate

Is it more difficult to get a loan today than it was a year or two ago? That's a good question. The answer depends on many things ---- but for starters make sure you are getting your advice from someone you trust . If you don't trust your lender, find another one. In the past couple of weeks I've had three people ask me about reverse mortgages . I've always cautioned my clients to make sure they understand the costs associated with this type of loan. A reverse mortgage is available to someone 62 or older who is interested in financing their residence. The AARP has a number of articles on reverse mortgages . There are counselors approved by the U.S. Department of Housing and Urban Development who can help you. I'll say it again. Work with someone you trust. Questions? I'll be happy to point you in the right direction.

The home buying tax credit has been extended. It has also been updated to include a wider range of home buyers . No longer do you need to be a "first time home buyer" to take advantage of the tax credit program. The quick version is the "First Time Homebuyer" credit has been extended until April 30, 2010. These home buyers, who have not owned a home in the past three years, must have a signed contract on a home by April 30th, 2010 and settle on the home before July 1, 2010. They may receive up to an $8,000 tax credit. The real big change is allowing home buyers who have owned a home for 5 consecutive years (out of the last 8 years) to purchase a home and receive up to a $6,500 tax credit. The income limits have also been increased. Our Military also receives some special consideration including a longer buying window and other exceptions. It's not to late to start your search . Contact me for more up to date information.

Here's a quick one. Some optimistic news, as well as some humorous/scary information at the end --- depending on how you look at it. Some highlights: - Home sales increased in September - Nationwide, sales are up 24% from January - 4 Year old applies for tax credit Find the article here .

Hold your head up. Things are looking good. I'm not conceited enough to think that my job, and Real Estate in general is the only true measure of our country's economic and psychological ups and downs. Other important measures include the state of Jon and Kate, Brad Lidges walk to strikeout ratio and the number of times the two political parties disagree every 15 minutes. But seriously, Real Estate matters. I think most of us would agree that if consumers are consuming --- that's a good thing. Well, they are. They're buying homes. Pending home sales have risen for the past 6 straight months* . That's more than has ever been recorded. The National Association of Realtors have only kept that stat since 2001 ---- but there were some pretty busy Real Estate years in there if you remember. Keep in mind that I live and work in an area of the country that has weathered the storm we are seeing on the news pretty good. It's one of the reasons I'm still here. Oh, that...