Postcards from the Lake

Archive for September, 2009

Time Running Out for First-Time Home Buyers Tax Credit

$8,000 Tax Credit Scheduled to Expire Nov.30

Unless Congress acts to extend the credit before the scheduled deadline, first-time homebuyers wanting to take advantage of this credit need to act soon!   Nowadays it’s taking at least 30 days to close, so I advise putting something under contract before Nov. 1.

Realtors and contractors have been lobbying, as you might imagine, for an extension of this deadline.    There is plenty of opposition to an extension of this homebuyer’s credit, so passage is far from assured.

I have no crystal ball during these uncertain times,  but if you have a stable job, decent credit, and always wanted to own a home; it’s hard to see how you could lose by acting in time to receive this credit – particularly on homes priced under $100K.  

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Author: | September 23rd, 2009
Categories: Market Trends, Real Estate News
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Lake of the Ozarks Realtor Helps Homeowners Avoid Foreclosure

Short Sale Expert Offers Alternatives

Melody Anderson of  Lakewide Realty in Camdenton  has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

At the Lake of the Ozarks, many homes are in danger of foreclosing.  It is happening in all price ranges.  Even high-priced homes are not immune.

Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as Anderson with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.

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Author: | September 20th, 2009
Categories: Mortgage News, Real Estate News
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