Posts Tagged ‘real estate los angeles’

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Tax credit closing deadline extension passes Congress | Inman News

July 2, 2010

Tax credit closing deadline extension passes Congress | Inman News.

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6 Ways to Get Your Finances in Order Video

May 30, 2010

HOME BUYERS

CLICK HERE: IF You’re Thinking of Purchasing a Home This is an Important Video to Watch. “6 Ways to get your Financing in Order “

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Extended Tax Credit signed into Law

November 7, 2009

MORE GREAT NEWS

Daily Real Estate News | November 6, 2009 |

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Share Obama Signs Extended Tax Credit into Law Expected to contribute approximately $22 billion to the economy, Congress overwhelmingly passed a bipartisan measure this week extending the $8,000 home buyer tax credit to April 30, 2010. The legislation, which is part of a larger bill that also extends unemployment benefits, was signed into law by President Obama today. More people are now eligible to take advantage of the law, which includes a $6,500 tax credit for buyers who are current home owners and have lived in their home for five of the past eight years. Income limits for eligible home buyers were also expanded to $125,000 for single buyers and $225,000 for couples, up from $75,000 for individuals and $150,000 for couples. Qualifying home prices are capped at $800,000. NAR’s Government Affairs Division has compiled facts on the changes made to the current tax credit. NAR members sent more than 500,000 letters to leaders in Congress and made nearly 13,000 telephone calls to Senate offices last weekend to encourage support. So far this year, REALTORS® have spent nearly $14 million lobbying Congress, according to federal campaign finance records compiled by the Center for Responsive Politics. Sen. Johnny Isakson, a Georgia Republican and a former member of NAR, was key in extending the credit, as well as pushing it through initially. Other prominent boosters include the National Association of Homebuilders and the Mortgage Bankers Association. Listen to NAR President Charles McMillan’s podcast announcement. NAR economists estimate that approximately 2 million people will take advantage of the tax credit this year. Sources: NAR and The Associated Press, Julie Hirschfeld Davis (11/06/2009)

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Credit Extension for Home Buyers

October 29, 2009
GREAT NEWS
Daily Real Estate News | October 28, 2009 |

Senate Dems on Board with Credit Extension
Senate Banking Committee Chairman Chris Dodd (D-Conn.) says Senate Democrats have agreed to extend the first-time home buyer tax credit. The latest version extends the program to home sales signed — not closed — by April 30. Purchasers would have another 60 days to close the sale. The credit will also be expanded to include so-called step-up buyers who have lived in their current home for at least five years.

The credit would be cut nearly 10 percent to a $7,290 cap. Income eligibility for first-time home buyers would stay the same, but it would rise for step-up buyers to $125,000 for individuals and $250,000 for couples.

Source: Bloomberg News, Dawn Kopecki and Ryan Donmoyer (10/27/2009)

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August 3, 2009

karenbannerblog

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First Time Buyer’s Free Seminar a Success

August 3, 2009

First Time Buyers Free Seminar

Pinky Luat Young and I had a great response to our first in a series of First Time Buyer’s Free Seminars held at our Keller Williams office in Los Feliz. There were 15 attendees who went home as educated buyers ready to jump into the real estate market.

It was such a success that we are planning another one in mid-september for those of you who were unable to attend the first one as well as anyone interested in becoming an educated buyer. We will be serving a Fabulous Greek Lunch provided by Mary Kay owner of Advanced Group Home Inspection.

Please continue to read my blog for further details as to date of next seminar.

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18 OFFERS ON 1 PROPERTY

June 22, 2009

Feeding Frenzy in LA

The picture has definitely changed. Does this mean we have hit the bottom and are turning a corner on our way up. I typically work on the eastside of Los Angeles areas including Silver Lake, Los Feliz, Eagle Rock, Echo Park, Mt. Washington, Hollywood, Atwater, Highland Park. Buyers in the lower price range $250,000 – 500,000 have been putting away their money waiting for the ripest time for them to lunge into the market. Well some may have waited to long. I put an offer in on a property on a Monday in the san fernando valley in the mid $300,000. It was a strong offer – above asking price and very clean we basically asked for nothing.My client was so excited about the house and really wanted to buy it. On Wednesday I received a call from the other agent letting me know that she had received 18 offers and 6 were accepted none of which was mine. This seems to be a very typical story. Agents are writing offers like crazy and having a very difficult time getting the offer excepted. In so many cases the seller’s agent doesn’t even get back to you. As the foreclosure market tightens up we will see less inventory and many more multiple offer deals. The moral of the story is if you see a house your client loves I wouldn’t try to offer less then the asking price andi n many case more. Buyers are again experiencing competition. In this market most homes are a good deal in that the prices have gone down, but don’t expect the banks or private citizens to be giving away houses.