The Real Estate Market And You!!!

There is so much happening right now that we encourage you to give us a call 661-203-3544 and let us help you find the information that you need to know. This is a great time to buy and there are programs to help you do so.

Buying a home? Take Advantage of a Federal Income Tax Credit

New legislation was approved which extends the First-Time Homebuyer Credit for homeowners through April 30, 2010 with a 60-day cushion beyond that date to complete closing. The program broadens benefits to existing homeowners and now includes:

• $8,000 tax credit for first-time homebuyers
• $6,500 tax credit for existing homebuyers who have lived in their current residence for at least five years but want to relocate to a new primary residence
• Increased income limits for individuals and couples

Also, speak with a lender, accountant or attorney to learn more about how this may apply to you.

Need help buying a home?

State and local housing authorities often have programs to help homebuyers research and purchase a home. Programs can include counseling, down payment assistance, and more.

Neighborhood Stabilization Program (NSP)
Currently, some local housing authorities and housing non-profits have programs for homebuyers that use HUD's Neighborhood Stabilization Program funds.

Fannie Mae supports NSP and offers some concessions to streamline the purchase of Fannie Mae properties for buyers using NSP funds. This includes:

• Deposit Waivers - Fannie Mae will waive the earnest money/deposit requirement for public entities using public funds to purchase a Fannie Mae-owned property. Individual homebuyers using public funds to purchase a Fannie Mae-owned property do not have to meet the full 5% earnest money/deposit requirement. Deposits can be as low as $500.
• Reserved Contract Period - Upon receipt of an acceptable offer, buyers have the ability to renegotiate their offer after obtaining an NSP-required appraisal.
• Extra Time for Closing - Buyer receives up to 45 days to close, 15 days more than is usually permitted for purchases of Fannie Mae-owned properties.

For more information on NSP programs in your area www.homepath.com

Also, speak with a lender, accountant or attorney to learn more about how this may apply to you.

I currently hold the following designations - Graduate of Realtors Institute and Seniors Real Estate Specialist.

There are great ways to search for that special home be sure you check out Office Listings and MLS search buttons.

Please browse my website for listings, reports and important local real estate information.

Sincerely,

Carson Blacklock                       Lic. #01468894
REALTOR®, GRI® ,SRES®                                           
McKinzie Nielsen Real Estate Group     

661-203-3544

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