Real Estate Information

"How far  you go in life depends upon your  being… tender with the young, compassionate with the aged, sympathetic with the striving, tolerant of the weak and the strong….because some day in your life,  you will have been all of these.”    George Washington Carver

So if you could get the home of your choice for no money down plus get $6500 to $8000 back after closing, would you put homeownership on the front burner?

If you could sell the home you are in now, move to a home that better fits your new lifestyle and get paid up to $6500 to make the move, plus get 100% financing at a competitive rate (currently 5 to 5 3/8%), would you put a new home on the front burner?

There's never been a better time to buy your first home or move to a new home that better fits your needs. We have not seen interest rates this low since 1955; homes priced this competitively since 1999; and you get $$ back (first on your tax bill with the balance in cash).

The Stars are Aligned. If you are thinking about , dreaming about making a move, email me today! craig@craiglamar.com

Huntsville and Madison Alabama area home sellers shouldn’t wait until March to list their homes for sale because buyers are out and about NOW.  They want to take advantage of the federal tax credit available to both first-time and some move-up buyers.

We usually see most activity from March through May/June, but because of the government giving money to first time buyers and qualifying move-up buyers we will see a slow down after April 30 this year. The deadline for writing a contract that will qualify for the tax credit is controlled by the fact that the closing must occur by June 30, 2010.

Who qualifies?

• $6500: Home owners who have resided in a previous home for five consecutive years (within the last eight) are eligible for the $6500 tax credit.
• $8000: Anyone who has not owned a residence during the three years prior to the purchase is considered a “first-time home buyer” and is eligible for the $8000 tax credit.

There are income limitations in either case:  Unmarried buyers with incomes up to $125,000 and married couples with incomes up to $225,000 may receive the maximum tax credit.  However, some home buyers with income exceeding these limits may still be eligible for a reduced tax credit.

Which properties are eligible?

Any single family residence located in the United States that will be used as a primary residence and is purchased for $800,000 or less is eligible. Generally, a primary residence is the place where an individual spends most of his/her time. This includes single-family detached homes, condos or co-ops, townhouses or any similar type of new or existing dwelling.

 Huge benefit to you as a Seller....as well as to Buyers:

There is no cost to home sellers, so this tax credit is a huge benefit to you as well as to home buyers.  That’s why I suggest you get your home on the market as soon as possible to take advantage of this boost to the spring real estate market. 

Check out homes for sale now.

Just click on the tab at the top of this page to find out what’s on the market at this time.  While you are there, you can register for a free email subscription to find out about new listings as they come on the market.  For home buyers, the benefit is obvious.  However, knowing what is on the market can help sellers and future sellers when they get ready to list their property. 

SOUTHAMPTON PLACE, OwensCrossRoads, AL Market Update:12 Homes on Market priced from $189,900 to $319,900; CURRENTLY A BUYER MARKET: Enough homes to supply 28 months of market demand at current rate of sales.

Now is the time to buy: Prices will only go up; Interest rates this low not seen since 1955; Plus Uncle Sam will pay you to buy a house ($6500 to $8000).  

Need more info? Call Craig at 256-509-6571 or email craig@craiglamar.com

Despite predictions from researchers at Purdue University that the H1N1 outbreak will peak this week, the reality is that it won't be going away any time soon. Let's not forget that the news is filled with shortages of the vaccine, as the number of H1N1 cases continues to surge across the country. And federal officials have warned that a second, larger outbreak could occur in early January.

The reality is that the best way to stop the spread of H1N1 is to know the symptoms and to take steps to protect yourself-and others-from it. The following information can help.

What are the symptoms of H1N1... and how are they different from the common cold?

If you think you have the H1N1 flu, you should take a few common-sense steps to protect your friends, family members, and coworkers. For instance, if you feel sick, stay home until you feel better and have gone at least 24 hours without relying on medicine to break your fever.

In addition, wash your hands, linens, dishes, and so on thoroughly. And cover your mouth and nose with a tissue when you cough or sneeze--and then throw the tissue away immediately. Finally, if you have to share a small space with other people, consider wearing a facemask to help make sure you don't spread the flu to the people around you.

I watch the market absorption rates as that is an indicator of the future market climate in which my clients will be buying or selling. And those rates are dropping dramatically. As a seller, that is a good indicator since it means there are less homes on the market and less competition which will mean a quicker sale; for buyers it means that prices will start trending up as there will be fewer homes available and they will have to compete with other buyers for a particular home. Existing Home Sales (Supply in Months)

The biggest unexpected news came from the September Existing Home Sales report, which jumped 9% from August to the highest level since July 2007.

Inventories of unsold existing homes dropped sharply to a 7.8-month supply from a 9.3-month supply in August. This marked the lowest inventory levels in two and one-half years.

September Housing Starts remained at depressed levels, which removes pressure on future inventory levels. Building Permits, a leading indicator, also held at low levels.

In short, home sales improved, while inventory levels moved lower with a relatively light supply of new homes in coming months.

Here Today and Gone Tomorrow........

$200,000 at 4.75 = apx $1045/month

$200,000 at 6.00 = apx $1200/month

RATES* AS OF October 20, 2009