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Blog by Leslie Goulden

Kirkland, Washington

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$8000 First time home buyer credit

Jun. 15, 2009

Categorized in: Real Estate News

Tagged with: home buyer, tax credit

$8,000 Home Buyer Tax Credit at a Glance

The information on this page pertains to the American Recovery and Reinvestment Act of 2009.

· The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.

· The tax credit does not have to be repaid.

· The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.

· The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.

Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

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CONQUERING FEAR IN TODAY’S REAL ESTATE MARKET

May. 4, 2009

Categorized in: Market News

Tagged with: buying, home buyer, market, real estate

CONQUERING FEAR IN TODAY’S REAL ESTATE MARKET

If there’s one thing everybody shares in today’s real estate market, it’s fear. Fear of not being able to sell a home. Fear of buying at the wrong time. Fear of overpaying. And the list goes on.

Rampant fear, however, is a key factor in keeping the real estate market depressed. If more people got over their fear and took action, the market would recover more quickly. The problem is that most people do not have the correct research to help them understand that now is a great time to buy and sell—one of the best ever, in fact.

Record-low interest rates -- combined with record-high inventory -- create a “perfect storm” of opportunity for buyers, offering opportunities that didn’t exist two years ago. Incredible bargains and plentiful choices abound.

However, most buyers are still sitting on the fence because they’re fearful that the market will go down further and they’ll miss out on even more savings. The problem with this thinking is that as time goes by, more and more competition will arise. Right now, there is much less competition than there will be in the near future—meaning that if you wait, there is less chance you will get the home you want.

Yes, there may (or may not) be a savings of a few more dollars down the road. If you’re a buyer, are you willing to take a chance on missing the abundant choice and low rates right now in favor of a potential future savings that may never materialize?

Sellers are fearful too. They are desperately concerned that their house won’t sell due to excess inventory. The answer is the same: take action. There are measures you can implement right now to make your property stand out from the competition.

A prime example would be a “Reverse Purchase and Sale Agreement”. This is when you draft a contract and make an offer to a buyer, instead of waiting for them to make an offer to you. As the market changes, this has developed into a viable and successful way of getting your home sold.

One simple – and successful – tactic is an adjustment in your asking price. While this is an obvious solution, many people are holding on to prices that are simply not supported by the current market. If you’re serious about selling, then you need to get real and meet the market at today’s prices.

Fear is everywhere, but the cure is action. Once you put your buying or selling plans into action, you not only can take advantage of amazing deals waiting for you right now, but also you help bring the economy back to life.

Want to know more about Reverse Purchase and Sale agreements? Want solid numbers on where the market is today so you can take the best action? Just give me a call at 425-503-8862 or email me at lgoulden@comcast.net

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WHAT YOU NEED TO KNOW ABOUT MAKING AN OFFER

Mar. 31, 2009

Categorized in: Market News

Tagged with: buying, home buyer, market, real estate

WHAT YOU NEED TO KNOW ABOUT MAKING AN OFFER

If you’re ready to make an offer on a home you want to buy, here are some important factors to keep in mind:

1. The only way to win is to negotiate.

You’d probably like to avoid negotiation and just have your first offer accepted. However, the reality of buying and selling real estate is that there will be some negotiation along the way.

Many buyers believe they can make a lowball offer, beat the seller at the game, and then just walk away. All this does is set up a backfire situation. The seller is usually so insulted by your offer that he or she won’t even consider a second offer.

The solution to this problem is what I call “win/win negotiating”. This is a style of negotiation that ensures all parties benefit from the transaction. This means that before writing the offer, you put yourself squarely in the shoes of the seller. Ask yourself this question:

“If you were selling, what offer would make you really happy?”

For example, pretend you have a home on the market listed at $300,000. You would be happy if somebody paid you exactly what you’re asking, but that probably will not happen.

Ask yourself what offer you would be willing to accept. Then, ask yourself what offer you would be willing to think about. Finally, ask yourself what offer would make you downright mad. Put yourself in the position of the buyer.

And never say, “That’s my final offer.” All that does is infuriate the buyer and close all doors of communication.

2. Think about the conditions and terms on which you might be willing to compromise.

Never sit down to write an offer while being inflexible. Be a palm tree, not an oak tree. Sway in the wind a little.

On what parts of this contract could you be flexible? If it’s not price, maybe it’s something else. Perhaps the closing date is negotiable. Perhaps some of the included items are negotiable. Be open-minded if you ever expect to win in a negotiation.

3. Keep emotion out of the negotiation.

If there’s one truth to human decision-making, it’s that emotion plays a key role. To win, you need to keep it in check. Always be willing to walk away from a deal if you find your emotions are getting the best of you.

When you keep these simple rules in mind, your offer has a much higher likelihood of being accepted.

Please feel free to contact me at 425-503-8862. Email me: lgoulden@comcast.net

www.LeslieGoulden.com

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7 Factors for Buyers

Feb. 28, 2009

Tagged with: home buyer

7 FACTORS TO CONSIDER WHEN BUYING A HOME

Purchasing a property is one of the biggest decisions of your life. While people are often swayed by emotion—falling in love with a house at first sight—it’s prudent to take into consideration some other facts.

Here are some items to mull over before making that first down payment:

1. Location.

The old saying “location location location” still holds true. You can have a beautiful home on a perfectly landscaped lot that makes your heart sing—but if it’s not in a good location, then it’s not the right property for you.

2. Floor plan.

This is critical. Ask yourself, “Is this floor plan geared toward a certain type of family? Does that type fit my family and my future goals? Does this floor plan have the flexibility for an addition? Is the space open and well thought out?”

3. Landscaping.

A home doesn’t need to have perfect landscaping for you to buy it. But it should have the potential to be landscaped perfectly. Many people buy the home without paying much attention to the lot, ending up with problems selling it later because of poor potential.

4. Community amenities.

Have you driven to the grocery store from the property? You might want to, because it could surprise you how far away it is. You may want to be in a nice and quiet area, but do you really want a trip to the mall to be an expedition? If you do, great. If not, check it out.

5. Schools.

This is a top reason people select a particular community. The school district you select is very important—even if you don’t have children. You may want children someday. Or you might need to sell your home to a couple with children.

6. Proximity to major roads.

Again, do you want to be so far away from your work that you need to pack a lunch for the commute? True, living this far away from a job is common in certain areas of the country—but it doesn’t need to be the standard. Ask yourself, “Do I want to spend my off-hours at home or on the road?”

7. Price.

The biggie. It isn’t all about price, but price always influences our decisions. Never overpay because you’re overexcited. Never underpay just because you think you’ve found a great deal. Deals that seem too good to be true usually are.

When you thoughtfully analyze this list, you’ll be in a much better position to actually find the home of your dreams. Clear-headed thought trumps emotion every time. Think before you buy.

Want to know some of the biggest mistakes people make when buying a home? Just give me a call at (425) 503-8862 or send an email to lgoulden@comcast.net. I’ll clue you in on some horror stories so that you can avoid the same errors.

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$8000 First time home buyer credit

CONQUERING FEAR IN TODAY’S REAL ESTATE MARKET

WHAT YOU NEED TO KNOW ABOUT MAKING AN OFFER

7 Factors for Buyers