Metro Detroit Short Sale Help Team

Our goal is to help those home owners that are facing a foreclosure situation and/or upside down on their mortgage. We will meet with you to review your financial situation and gain an understanding of why you need to sell your home. We will negotiate with the bank, skillfully explain your situation, and find a beneficial solution regarding the sale of your home. Based on our review with you the homeowner, we will develop a tailored marketing strategy which will result in a quick sale of your home at the best possible price.

Archive for category First Time Home Buyer Tax Credit

Homebuyer Tax Credit – Great News!

Nov 6

Posted by msecord in First Time Home Buyer Tax Credit | 3 Comments

The much-anticipated extension to the home buyer tax credit has finally been approved.  The Senate’s vote yesterday resulted in a 98-0 win and today it was passed in the house.  The bill now moves to the President’s desk for a final signature.

First-time home buyers have been eligible for tax credits of up to $8,000 since last January as part of this year’s economic stimulus package.  The newly backed program will expand the credit to include existing homeowners.

Under the revised program, those who have owned a home for at least five years will be able to apply for tax credits of up to $6,500 when they purchase their next home.  To qualify, buyers will have to sign a purchase agreement by April 30, 2010 and close by June 30.

The maximum purchase price on a home will be $800,000 with vacation homes not eligible. Income limitations are $125,000 for single tax payers and $225,000 for joint filers.

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1ST Time Homebuyers Alert: Buy Short Sales!

Aug 11

Posted by ericcio in Buying Short Sales in Metro Detroit, First Time Home Buyer Tax Credit, Short Sale | No Comments

This is an Alert for all you 1ST Time Homebuyers out there across the Detroit Metropolitan area! Time is running out for your free tax credit when you buy a home on or before November 31, 2009.

IMPORTANT NOTICE: You must close on your purchase on or before November 31, 2009. Foreclosed homes are beginning to dry up and Short Sales are becoming the best-valued purchase. I might even go so far as to predict that we will see a spike in privately owned homes (yes they still do exist) and short sales. Here’s why:

  • Short Sales are becoming more common with today’s market and banks are approving these types of sales more often and more quickly.
  • Short sale homes are cared for, in much better condition and priced very well. Would you rather buy a foreclosed home that requires $20,000 – $30,000 in repairs for a $100,000 or buy a short sale home that needs no repairs for possibly $ 100,000 as well? It just takes some time to get acceptance from all the lien holders.

My advice is get in contact with a Realtor® that has experience in all aspects of today’s Real Estate market and is willing to discuss your options for buying you first home. My opinion is this, buying a home with very little or no repairs needed are the best deal going. But also remember Short Sales take time but in the end it will be worth it. Now get out there, start searching and Good Luck!

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