Real Estate Information Archive


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$18,000 First Time Buyer Tax Credit

by Carol or Jim Chamberlain

Buyers have an opportunity to save big between March 1, 2009 through December 31, 2009. The State of California is offering a $10,000 credit for newly built homes. The property will have to be your principal resident and you will have to live in it for 2 years or you WILL have to repay the tax credit.

Plus the Fed is offering a $8,000 tax credit and you take advantage of both the State & Fed tax credit for a total savings.$18,000 don't miss this one time opportunity.

If you are buying a resale home you still can take advantage of the Fed credit until the end of the year. I wouldn't wait much longer before buying a home in the last 3 months distressed homesellers down 16% over the last 3 months. The amount of distressed homes keeps reducing either by loan modification of resale home sale.

Sales of Resale Homes Explode

by Carol or Jim Chamberlain

For the last 3 months sales of resale homes have dropped in value month after month. We sit in the office day after day and with very few calls. We've retired and didn't know it. It looked like it was going to be another dismal spring and summers.

February 2, 2009 there is this awful noise and its insistent at the office, Oh it’s the phone and its ringing. People are calling and want us to show them houses to buy. That’s Good! Take 2 listing over the weekend and one has 4 offers, that’s good! And 2 of the offers are over full price, that’s even better!

As for the 5 new buyers who want to start look at property, into the MLS (Multiple Listing Service) we go looking for properties that fit their needs. Plenty of properties listed that fit their needs. Start calling offices and agents to make sure properties are available to show. Ugh! Over half the properties we called on were in escrow or have multiple offers. Wait a minute I though no one was buying!

The phone is still ringing and we are filling our days with appointments to show buyers. YaHooooooooooooo! The times are a changing and let it be Southern California that starts the economy moving again. After all this is one of the best places in the US to live.

Displaying blog entries 1-2 of 2

Contact Information

Photo of Carol and Jim   Real Estate
Carol and Jim
Preferred Home Brokers
3230 E Imperial Hwy, Ste 125
Brea CA 92821

Carol & Jim Chamberlain 714-726-3166 or 714-726-3144                  "Yes, We Can Be In Two Places At Once!"                                              BRE Lic Numbers: 00912962, 01015143