Real Estate Market

"Best Time to Buy Property in 70 Years!"

NATIONALLY

As reported in the Wall Street Journal, April 30, 2009 the Federal Reserve will continue to keep mortgage interest rates low, thus allowing the real estate market time to recover. Reuters News, Shaun Donovan who is Secretary for U.S. Housing and Urban Development sees signs of the housing market stabilizing. This was consistent with NAR Chief Economist Lawrence Yun's analysis on existing-home sales.

Stimulus Package for First-Time Home Buyers. What is it? How does it work?

It consists of a tax credit of up to $8,000 for first time home buyers who purchase a home between January 1, 2009 and December 1, 2009. To qualify as a first-time home buyer the purchaser or his/her spouse may NOT have owned a redidence during the three years prior to the purchase. The up to $8,000 tax credit applies to only the primary residence which includes: single-family homes, condos, townhomes and co-ops. The tax credit is determined by the Price of the home - the credit is equal to 10% of the purchase price of the home, up to $8,000. The maximum credit is given to single buyer's with incomes up to $75,000 and married couples with incomes up to $150,000. IF, the Buyer(s) income exceeds these limits they may still be eligible. However, the tax credit decreases for single buyer incomes between $75,000 and $95,000 and married couples incomes between $150,000 and $170,000. Buyer(s) over these limits are not eligible for the tax credit. Good news. This tax credit does NOT need to be repaid as long as the buyer(s) he/she occupy the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.

"Real Estate Cyberspace Tips" May 2009

Here is your Real Estate CyberTips E-Newsletter, which, in very concise form, will provide you with monthly Cyber tips and tricks along with our pointers to Internet places of special interest to real estate owners, investors and related professionals.

Please click here to access your copy of the May Issue of "Real Estate CyberTips"

http://www.REcyber.com/cybertips/r1372

This month's issue includes the following Tips:

* THE NEATEST FREE SERVICE EVER!

* SEARCH PEOPLE ON THE DEEP WEB!

* FREE STUFF ? RIGHT IN YOUR NEIGHBORHOOD!

* HOW MUCH DAYLIGHT TODAY IN SASKATOON?

I hope you enjoy "Real Estate CyberTips". Please let me know at any time if I may be of help with any of your real estate needs.

"Florida and Broward County News"

According to the FAR, Florida Associaiton of Realtors, first-time home buyers and investors are leading the pack in buying properties. And, lenders are becoming more responsive to making loans.

April 19, 2009 in the Miami Herald, the Broward County Property Appraiser, Lori Parrish stated that the sale of foreclosed properties would result in lower assessments and be a benefit to Broward County property owners. Further, she also plans to include short sales in calculating assessments.

Research through XIMA USA illustrates the following statistics:

Pre-Foreclosures Foreclosures

Broward County SFH 25,719 12,530 = 38,249

Condos 13,864 6.713 = 20,577

Total = 58,826

Fort Lauderdale SFH 2,405 1,188 = 3,593

Condos 1,229 547 = 1,776

Looks like the housing market is at bottom. The above numbers represent potential

"best buys." Call me with your specifications for area and property so you don't miss

out! Carol Ann Leaf, 954-771-5895.

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