The Philly Pretzel

1st Time Home Buyer Tax Credit Redux

November 7, 2009 at 9:47 am · Filed under First Time Home Buyers, For Home Buyers

Everybody, homebuyers that is, gets a tax credit now (well almost everybody).

The new legislation includes extending the First-time Buyer Tax Credit of up to $8,000 and raising the qualifying income limits to $125,000 for single taxpayers and $250,000 for joint taxpayers, up from the current $75,000 and $150,000 income limits.

In addition, the legislation offers a new credit of up to $6,500 to qualifying EXISITING HOMEOWNERS who have resided in their homes for 5 out of the last 8 years and are buying a new home.

Agreements of sale will have to be signed by April 30, 2010 and settled by June 30, 2010

Homebuyer tax credit changes: Frequently Asked Questions (pdf)

FIND YOUR PHILLY HOME AND GET YOUR TAX CREDIT

Technorati: 1st time home buyer, home buyer tax credit, philly home buyers, buy 1st home

posted by janice SEARCH the Philadelphia MLS. No Registration Required!

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Philadelphia Open Houses: It’s OK to Look

November 5, 2009 at 10:50 am · Filed under For Home Buyers, For Home Sellers, YO Philly

Every REALTOR’s open house is a little bit of drama. We have the sellers clean up the homes, we put out signs, we put out balloons or flags, we put out info and a sign-in sheet, and then we wait.

That’s when the games begin.

Usually the neighbors are the first to show up. “We live down the block and just want to look”. “How much are they getting for this? Are they crazy?” “I love what they did with the kitchen but I still wouldn’t pay this much.” They’re always fun.

Then the “others” come in. Most are very pleasant. They ask questions. They want to know how long it’s been on the market, does it have central air, what are the taxes, what’s the parking situation.

Some people come in, look around and make no eye contact at all. They have that aura of “Don’t look at me, don’t talk to me, I’m not really here.”

But honestly, all I want them to do is sign in so I can let my seller know that people came in to look. I don’t want to marry them. I try to let them know that if they have questions they should ask, otherwise go look around and enjoy.

Yes, some homes actually sell because of the open house. I was just getting ready to lock up one house when someone walked in. They were driving by, saw the sign, found a parking spot and came in. They bought it a week later. Score!!

Anyway – if you decide to spend time walking around and visiting open houses, don’t be afraid of the REALTOR. We’re here to help, answer questions and try to get our seller’s home sold.

Don’t hesitate to come on in. We like the company.

LIST WITH US and give your home the exposure it deserves and GET IT SOLD

Technorati: philly open houses, sell your philly home, philly realtors

posted by carolyn REALTOR, Ecosociate™by Ecobroker International SEARCH the Philadelphia MLS .

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Philly Mortgage Rate Update: November 3rd 2009

November 3, 2009 at 10:54 pm · Filed under For Home Buyers, Mortgage

Todays Mortgage Rates:

30 Yr Fixed – 4.875% (1 point) / 5.125% (0 points)

15 Yr Fixed – 4.25% (1 point) / 4.5% (0 points)

5 yr ARM – 3.5% (1 point) / 3.75% (0 points)

7 yr ARM – 3.875% (1 point) / 4.25% (0 points)

FHA – 4.875% (1 point) / 5% (0 points)

Investment – 5.125% (1 point) / 5.375% (0 points) – at least 25% down payment required

*Rates are based on 80% loan to value unless noted and 720+ credit score (with the exception of FHA) *Income and Asset verification required and must meet DTI guidelines *This is not a commitment to lend and other conditions may apply

This week brings us new employment numbers…and a chance to see if the labor market is showing signs of recovery. The employment news begins Wednesday with the ADP National Employment Report. Sandwiched between that report and Friday’s Jobs Report, is the Initial Jobless Claims report on Thursday.

The big news comes on Friday, when the all-important Jobs Report will be released. Last month’s report underscored the struggling labor market, as the Labor Department reported 263,000 jobs lost in September and an increase in the unemployment rate to 9.8%. The report due out this week is expected to show 166,000 jobs lost in October, which would be significantly better than the previous month if it happens. However, the Unemployment Rate is expected to continue its climb to 9.9%.

In addition to employment news, we’ll also see the ISM Index on Monday. This is the king of all manufacturing indices and is considered the single best snapshot of the factory sector.

Finally, the Federal Open Market Committee (FOMC) holds its two-day meeting this week, with an announcement of the Fed Rate Decision and Policy Statement due on Wednesday at 2:15 p.m. (ET).

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.

Technorati: philly mortgage, mortgage market, carina marchese, center city mortgage company

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Brought to you by our favorite mortgage broker:

Carina Marchese
Center City Mortgage
267.238.5785

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Philly Home Sellers: Where and How is Your Real Estate Agent Promoting Your Home?

November 1, 2009 at 10:32 am · Filed under For Home Sellers

Forget advertising in the local newspapers and don’t depend on open houses. To successfully promote your property to the market it is important to know how buyers find homes.

Just how important is your homes presence on the internet? The Pennsylvania Association of Realtors track statistics of home buyers and sellers and every year release the information in report form: 2008 Profile of Home Buyers and Sellers Pennsylvania Report (pdf).

37% of recent buyers reported that their first step in the home-buying process was looking online for properties for sale. 9% of first-time buyers and 21% of repeat buyers reported their first step was to contact a real estate agent.

89% of home buyers used the Internet to search for homes.

The typical home buyer searched for a home for a median 12 weeks and saw a median 10 homes.

90% of home buyers used a real estate professional during their home search.

Among home buyers, the typical Internet searcher was 36 years old and visited a median 10 homes. The typical home buyer who did not use the Internet to search for homes was 54 years old and saw a median 6 homes.

35% of home buyers first learned about the home they purchased from a real estate professional; 39% first learned about the home they purchased through the Internet.

Real estate agents were viewed as a very useful information source by 81% of buyers, and as a somewhat useful information source by an additional 16% of buyers searching for a home.

Your homes internet presence is the new curb appeal.

Our marketing strategies are designed to target the major buyer resources found in the consumer research chart above because they are most likely to result in a buyer for your home. We deliver. Period.

Can your home be found online, or for that matter how about your real estate agent?

LIST WITH US and give your home the exposure it deserves and GET IT SOLD

Technorati: philly home sellers, curb appeal, marketing strategies, sell your home

janice_bovee-author posted by janice Contact Us for a Hassle-Free Listing Consultation

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Philly’s Top Ten Neighborhood Places for Brunch

October 28, 2009 at 8:47 pm · Filed under Neighborhoods, Sunday Fun

So here’s the problem: He wants to watch the game, she wants to go out and socialize with friends, and there’s only so much weekend time.

There is a way everyone can be happy – and that’s eating brunch. Eating always bring people together. And brunch doesn’t cut into major football watching time.

I consulted with area foodies to come up with a list of 10 favorite brunch places.

Enjoy.

Top 10 Philly brunch places

Sauté –Queen Village
Cafe Estelle – Old City
Cochon – Queen Village
Royal Tavern – Bella Vista
Standard Tap – Northern Liberties
Morning Glory – Bella Vista
Las Bugambilias – Society Hill
Beau Monde – Bella Vista
Cafe Fulya – Queen Village
Marigold Kitchen – University City

Go out and enjoy yourself. Eat, drink, watch football. What a great way to spend a Sunday afternoon.

FIND A PHILLY HOME IN A GREAT NEIGHBORHOOD

Technorati: philly brunch, philly neighborhoods, top ten brunch

posted by carolyn
REALTOR, Ecosociate™by Ecobroker International

SEARCH the Philadelphia MLS . No Registration Required!