It is a great time for people to get into the housing market as I have mentioned over the last few months.Â Â There is still time to take advantage of the market conditions but don’t wait too long.Â Things will change.
Believe it or not but I have had different buyers bidding and buying properties less than $20K and some that do not need that much work.Â It is anÂ amazing deal and some did not need always need a major overhaul.Â As the market begins turn turn around there are going to be less opportunities like this.Â The deals that are there will be more competitive.Â Some houses such as these can have mulitiple bids on themÂ (as many as five or ten bidders or more).Â If you see a deal move fast and bid competitively whether for investment property or for owner occupied.
It appears that first time home buyers have really taken advantage of the tax credit.Â Â Â “”First-time homebuyers, most between the ages of 25 and 45, accounted for about 45 percent of home sales from January through July 2009, according to the National Association of REALTORSÂ®”.
“This is a historic time,” says George Jaramillo, a 35-year-old business analyst in Atlanta, who recently bought three homes, two of them foreclosures. “It’s a great opportunity to make some great gains in the future.”Â – Realtor.org, Associated Press
The days and hours are ticking away for the homebuyer tax credit.Â Have you pick a house?Â Activity is picking up fast.Â Keep in mind that you have to approximately October 1, 2009 to get a property under contract with a seller.Â Â Â It will take approximately 6-8 weeks to close.Â Â A homebuyer needs to close on their home by November 30, 2009 to qualify for the government homebuyer tax credit.Â Keep in mind there is a holiday in this window and loan officers will not be available during this time.Â The 6-8 week period is an average processing time as long as things go smoothly.Â So if you have your eye on that house or are sitting on the fence, jump off and get running.Â You have about two weeks left.
This Friday, starts off the holiday season in Pittsburgh in festival of lights.Â This yearly celebration event includes tree lighting, Santa Spectacular, and the PPG Place ice rink opens officially.Â The night ends with a fireworks finale at Point State Park – starting at 9 pm.
I have been in the Pittsburgh area for 20 years now and every year I hear of light up night.Â For one reason or another, I never get to make it.Â And yes, I am still hoping to do so.Â Maybe this year will be the year.Â It is a great time for fun with family and friends.Â For photographers this is a great opportunity to get the city at its brightest.
For 2009, Pittsburgh comes in as one of the Best Places to Raise Kids in the state of Pennsylvania.Â BusinessWeek just released their second annual list of best places to raise your kids and Pittsburgh made it.
BW worked with OnBoard Informatics, a Manhattan-based provider of real estate analysis, and concluded each state’s most affordable towns when raising children.Â The analysis was compiled with cities containing 50,000 residents and family median income of $40K to $100K.Â Other factors came into play as well but affordability came in weighing strong.
Check out the article and see if you have friends and family in some of the other ranked cities.
You know with all the things going on in the financial markets I was quite surprised to get an email from the financing company in our office informing me that 100% financing is out there.Â Sure there may be some qualifications but wow that is great!
It is available for Select Buyers and Properties through USDA Rural Development Programs.
– 100% Financing Off of the Appraised Value
– No Monthly Mortgage Insurance
– No Cash Reserves Required
– No Limit on Gift Money or Seller Concessions
– There is Flexible Credit and Qualifying Guidelines.
You know I visit seller’s and everyone has their own reason’s and needs for selling their home.Â Did you know that the number one thing that sells a home is the price.Â Â Of course, we all want a great price for our home but a seller does need to be realistic.Â You need to ask your agent to get comparable homes in the neighborhood that have recently sold.Â Right now it is certainly a buyer’s market.
Your home should be priced properly to avoid getting stale on the market.Â The most important time for a listing is the first 30 days.Â If you listed your home at a higher price to start don’t leave it that way too long.Â If you have it competitively priced, you can increase your changes of getting multiple offers, especially if this is done right when first going on the market.
Interest rates fell today.Â There are home loans available as low as 5 3/4 % 30 year fixed with zero points.Â Jumbo rates are great too.Â These are the best rates in the last 4-5 months.Â If you are sitting on the fence thinking of buying, it is a great time.Â You don’t know how long the rates will stay this way.Â If you or anyone you know needs a pre-approval, let me know.Â Enjoy your day!
Congratulations Pittsburgh!Â The Worldwide ERC(R), the association for workforce mobility, and Primacy Relocation(R) has announced that the Pittsburgh, Pennsylvania metro area is the number one Metro Area (with the population of over 1.3 million) of best cities to relocate to.
Yes, the housing market is having a national crisis but the Pittsburgh area has remained stable.Â While yes there are foreclosures, they have fallen in numbers for the five-county area (Allegheny, Beaver, Butler, Washington, and Westmoreland) by 29.1 percent comparing to July 2007.Â These statistics were reported from RealSTATs, a real estate information company.
Amazingly, Allegheny County was down to 138 foreclosures from 231 in July 2007.Â According to RealSTATs Allegheny County’s peak foreclosure year was 2006.