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Aloha Paradise Realty
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| Gentry Waipio
Center 104C |
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94-1036 Waipio Uka Street
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Waipahu, HI 96797
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Tiffany DuBose, R PB
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(808) 676-3400
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Having a Great Month!
Tiffany DuBose
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Your Happiness
is My Success!
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Copyright © 2009 Realty
Times
All Rights Reserved.
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Details Of The Recovery and Reinvestment Act of
2009
Talk
about tax shelters. Your home likely provides
more tax relief than any other acquisition,
thanks, in part, to new federal laws designed to
ease financial suffering in the recessionary
economy.
The "American Recovery and Reinvestment
Act of 2009," passed the House on February 13,
2009, by a vote of 246 - 184. Later that day,
the Senate also passed the bill by a vote of 60
- 38. The President signed the bill on February
17, 2009. The bill is a $780 billion package,
with roughly 35% of the package devoted to tax
cuts (mostly for
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2009) and the rest to spending intended
to occur in 2009 and 2010.
The bill includes the following
provisions:
Homebuyer Tax Credit - The
bill
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Why Buy a Home Now
If
you're renting and wondering if you should buy a home,
consider what bestselling author, David Bach, says, "The
average homeowner is worth 35 times more than the
average renter."
He advises renters to take action immediately and
start saving part of their paycheck every month to help
accumulate a down payment. He also encourages renters to
borrow 10-20 percent less than what the bank is willing
to lend; that way they're only buying as much home as
they can afford.
The longer you rent, the longer it may take you to
eventually get into homeownership. If the market
conditions have scared you, perhaps you're not looking
at the other side of the coin. Owning a home becomes
part of your investment portfolio, provides tax
benefits, allows you to build equity (it still exists),
and, if you buy now, you may get an excellent deal.
According to a MarketWatch news article, buying a
home now can provide some real negotiating power to
request
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Mortgages That Survived
The Credit Crunch
Today's
mortgages are a far cry from boom time home loans, but
they do exist and some lenders have money to burn.
"People used to qualify with stated income. Now there is
more documentation. And they aren't just documenting
your income, but looking for assets in addition to your
income and low debt-to-income ratios and low
loan-to-value ratios," said Asmaa Egal, mortgage broker,
Loan Republic Financial in San Francisco.
The new brand of home loan has been customized
with tighter controls and fewer defects to replace old
mortgage models that crashed and burned when the economy
hit the skids. "You have to qualify. You have to prove
your income. They have make-sense underwriting," said,
Quincy Virgilio, 2009 president of the Santa Clara
County Association of Realtors.
FHA-insured mortgages
The new darling of the homebuyer set, Federal
Housing Administration-insured mortgage programs, have
been available for decades. especially for low- to
moderate-income families who may not meet requirements
for conventional loans.
But with new loan limits as high as $625,500,
they've become especially
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It's a Good Time To
Remodel
Planning
now to get in a contractor's pipeline of work orders for the
spring can give a homeowner a negotiating edge for home
improvements and remodeling work. If there was ever a time to
strike a deal on home improvement, remodeling and alteration
services for the home, this is it.
A semi-annual survey of 5,000 U.S. homeowners, the "Spring
2009 Remodeling Sentiment Report", from Sunnyvale, CA-based
RemodelOrMove.com, reveals four times as many homeowners
answered "probably not" when asked if they will remodel this
year, as compared to the 2007 survey.
Daily News and Advice
Read about the events shaping the Real
Estate market today, find current interest rates, or
browse the extensive library of advice and how-to
articles written by some of the top experts in Real
Estate. Updated each weekday.
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