Here's some hot real estate news for the Greater Lansing, Michigan Real Estate market on the proposed new Home buyer Tax Credit. According to an article written by Bloomberg the U.S. Senate leaders moved closer to an agreement replacing an expiring $8,000 tax credit for first- time home buyers with a smaller one that would expand access to so-called step-up purchasers.

The Senate deal would reduce the size of the tax credit to 10 percent of the sale’s price, capped at $6500.00. The credit would be available on home purchases that are under contract by April 30, 2010 and borrowers would have 90 days more to close the sale. The existing credit is due to end Nov. 30.

The new agreement, which is still being negotiated and may change, would grant the credit to borrowers who have lived in their current home for at least five years. Lawmakers want to keep home sales from slipping as the economy struggles to recover from the worst drop in home prices since the Great Depression. Economists say a recovery in housing is a key to rebuilding the confidence and finances of American consumers, whose spending makes up 70 percent of the world’s largest economy.

The demand for new homes and condominiums may increase by “more than two times because you’re allowing step-up buyers into the equation,” said Andrew Parmentier, a managing partner at Height Analytics, a research firm in Washington. “ You just opened up a whole new pool of people who can buy into those empty homes and empty condos that were built out.”

The Bloomberg article went on to say: 

The income eligibility for first-time home buyers would remain the same at $75,000 for individuals and $150,000 for couples. The income criteria for step-up buyers would be $125,000 for individuals and $250,000 for couples.

This is an opportunity for those sellers who have been sitting on the sidelines in the Greater Lansing real estate market to take advantage of selling their home, and moving up to more space for the growing family. Regardless of values coming down over the past 3 years, sellers who are moving up, should be able to pick up the loss on the new purchase, in addition to a tax credit if qualified. Keep in mind that if you have considered moving, now is the time to plan ahead.

Buying or selling a home in today's real estate market can be complicated without having the proper expertise and guidance throughout the process. Visit MikeBowler.com for additional tips to assist you. 

“Expect the Best” Mike

Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com 
Website for Clients: MikeBowler.com
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Marketing properties, home selection and financing are just a few of the skills today's consumer looks for when they select a real estate professional in the greater Lansing real estate market. Over the past few years we have experienced excessive inventories, substantially reduced values, and numerous economic challenges here in Michigan.

Real estate transactions are complex, involve large assets and demand competent representation.  The Internet has added a new dimension to the real estate world. Now you can be assured that the REALTOR® you choose will have the knowledge and skills to put the power of the Internet behind your real estate transaction.

Real estate agents and brokers who have earned REALTOR e-PRO® Certification are Internet Professionals who have completed extensive training using the Web. REALTOR e-PRO® Certification means the real estate professional is prepared to employ the latest techniques and services for your benefit, just like you've grown to expect from a professional.

Home sellers in and around Lansing who may live in Holt, Mason, Dimondale, Grand Ledge, Waverly area, Delta Township, Haslett, Dewitt, Okemos or East Lansing, have opportunities to pick the right professional for marketing their home by making the right decision to interview three agents. During that interview ask the following questions:

1. Do you have a resume and references from others? Is this published on your profile pages such as LinkedIn, Zing, and Facebook.
2. Do you have a list of Internet sites, portals, and Blogs that my home will be featured on? Tell me how you are using Zillow, Trulia, Googlebase, and others.
3. How do you utilize the search engines to get my home the most exposure? Explain Googlebase, Yahoo, MSN and programs like ASK to me.
4. Will other Realtors be part of the marketing plan, by receiving update information on my home through email marketing, community posts, and Blogging?
5. Explain your syndication, social networking for business, and hub-page program to me, for exposing my home to a larger audience.

Naturally, a marketing plan on pricing your home correctly in today's market is a priority, however, the key factor with over 85% of all buyers shopping the Internet, prior to ever contacting a Realtor is finding out what your real estate agent really understands about Internet marketing.

"Expect the Best" Mike

If You're thinking of selling your home in the current real estate market in Holt, Michigan, Delhi Township, it's important to have a real estate professional that has a positive attitude, has experienced tough times (Early 80's), knows your market, Internet technology, real estate law, negotiation skills and someone who is ready to go to work for you.

Your home's value depends on many factors, including its style and size, amenities, condition and, of course, location, location, location. In addition, the value of your real estate investment can be affected by market conditions: interest rates, supply and demand and the overall strength of the economy. My Home Sellers Kit is packed with information to assist you in your decision making process. 

 You can also order your FREE Internet Marketing Seller Presentation here to discover the various syndicated websites your property will be exposed to when marketing your home with me. Not only will your listing get serious advertising on my website and on the websites of all of my network partners . . . I will also push it out all over the web, to the busiest real estate marketplaces online.