Posted by Annalisa Burgos | November 6, 2009
It’s official. The popular first time homebuyer tax credit, which many say is responsible for keeping the housing market afloat, has been extended and expanded to include repeat buyers.
You now have until April 30, 2010, to secure a contract for a home purchase and until June 30, 2010, to close on it. Buyers had been scrambling to close by the previous deadline of Nov. 30.
President Barack Obama signed into law a $24 billion economic stimulus bill today, which includes these incentives. With numerous reports of people abusing the credit, Congress included a provision that requires buyers to submit documentation with their tax returns to claim the credit. The new program is estimated to cost taxpayers $11 billion.
So go out there. Hit up some open houses this weekend. Get house hunting tips and advice at openhouse.com.
You just may find a house you love and get paid for buying it.
Posted by Annalisa Burgos | August 16, 2009
Everyone is so focused on home value these days that we forget that buying a home is really an emotional experience.
Sure staging and price play huge factors in whether we like a place, but house hunting is really about finding a house that fits your current lifestyle and aspirations. What really makes a homebuyer ultimately make an offer is feeling a personal connection to the place, not necessarily its price tag.
Ladies, think of it this way. They say when you’re shopping for a wedding dress, you’ll know when you find the one. It just fits. (And since 90 percent of real estate decisions are made by women, I figure you’d understand the analogy.)
This week, I talked to Eileen Imada and Walter Dixon, who just bought their first house in Newton, a suburb of Boston. After three years of looking for their “perfect” home, they learned a valuable lesson in determining home value and have a great tip for all you first-time buyers. Tune in for their full video on the FrontDoor Unlocked Vlog — coming soon!
Buying a home? Try these resources from FrontDoor.com:
Posted by Annalisa Burgos | July 20, 2009
I’ve never been a great haggler.
For most of my 20s, I accepted terms that were offered to me, not really knowing I could fight for what I wanted.
Perhaps it was my aversion to conflict (Libras like me seek balance, after all) or the ingrained, albeit naive, notion that people always offer a fair price.
Looking back, I wish I would have negotiated many more things in my life — career opportunities, salaries, boyfriends… but I digress.
As a first-time homebuyer, it is absolutely critical that you understand how to make a strong offer and how to negotiate with the seller to get terms you both can live with, especially if you really want the home.
Negotiating skillfully requires that you do your research — calculate the property’s fair market value from comps, understand the seller’s motivations for selling in this market, and know what concessions you are willing to make and what your deal breakers are.
Check your emotions at the door. Consider everything analytically, carefully, so you don’t get caught up in the heat of the moment and end up doing something you regret.
Think of this preparation as your training before you jump into the negotiating ring. Just because you’re in a buyer’s market doesn’t mean the seller is going to jump at your offer. You can safely assume that the seller has done their homework, so why should you come unprepared?
Subscribe to this blog
Friend us on Facebook
Follow us on Twitter