You Might Not Have to Wait Until 4/15 to Get Your Money!

First off if you are in the market for a home you should become conversant with this $8000 First Time Homebuyer credit being offered on purchases through Dec of 2009.  Here is a link to the relevant information at the IRS Wesbite:

www.irs.gov/newsroom/article/0,,id=204671,00.html

Keep in mind: the credit Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed!

But wait it MAY actually be getting even better: you MAY shortly be able to use the credit for DOWNPAYMENT ASSISTANCE with certain FHA lenders:

DOWNPAYMENT ASSISTANCE

First-time homebuyers will soon have another option if they want to use their $8,000 tax credit toward a downpayment. According to HUD Secretary Shaun Donovan, FHA-approved lenders will soon be able to issue a short-term bridge loan equal to the tax credit. Buyers will then pay back the bridge loan after receiving their tax refund. Donovan hopes to have the details available within a few days.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-051309.cfm

This REALLY IS the TIME TO BUY!

- Mike W.

Southwest Florida Led The Way INTO the Housing Decline - And we May be Leading the Way OUT!

Very good stats out from the Florida Association of Realtors below. Our own experience is bearing this out. Sales activity in the first four months of 2009 was WAY up and the Sarasota Association of Realtors/MLS shows that Pendings are still up again AND that inventory is coming down  - fairly quickly. Buyers have jumped back in here as they clearly see the value - so much so that it is actually a lot harder this month to find those bargains that we found four months ago.  Truly if you were on the sidelines wondering when to get back in - if you want to be in our area - that time is now!

HOME SALES

Sales of existing single-family homes in Florida rose 25 percent in first quarter 2009 compared to the same period a year earlier, according to FAR - the third consecutive quarter for higher existing home sales. Statewide existing condo sales in the first quarter rose 19 percent compared to 1Q 2008. Nationally, NAR says sales of all housing types slipped in the first quarter.

Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-051209.cfm

- Mike W.