CASH IN! OPPORTUNITY OF A LIFETIME!

We are in the midst of real estate history.  But super low interest rates and low housing prices will not be here much longer.   Fortunately, there is still time to cash in on this unique opportunity. But you will need to act right now to take advantage of conditions we are not likely to see again in our lifetimes.

What is happening?  The traditional  real estate mantra of  “location, location, location,” is being replaced by “the government, the government, the government.”  In fact, unless various government agencies take immediate action, interest rates will rise and credit will continue to tighten starting this spring: 

The Fed. The Federal Reserve has signaled that it will stop buying mortgage-backed securities from Fannie Mae and Freddie Mac at the end of March.  With less investment money to make new loans, experts are  predicting a one half to one full percentage point mortgage rate increase starting in April.

Congress. The Extended Homebuyer Tax Credit, offering $8,000 to first time homebuyers that was extended last fall to include $6,500 for repeat home buyers, is only available for homes under contract by the end of April.  If Congress does not extend it, home ownership will be out of reach for many more Americans starting in May.

The Fed Again. The dollar cannot be devalued by pumping a trillion  dollars into the economy without prices rising significantly. As soon as money starts moving again, the economy will inflate and the Fed will raise interest rates to try to reign it in.

The bottom line: As we pass these two deadlines, mortgage rates will begin to rise and less people will qualify for a loan.  Both will make real estate slow down.  And inflation is already headed our way.  It will take its toll in the form of higher prices and higher interest rates.  It is only a matter of time. 

Fortunately, we have a good market right now.  Many neighborhoods are selling in 30-60 days.  If you are thinking of moving this year, the next couple of months are important to consider.  Conditions will probably not hold until the end of the year. 

There are options for you if you act in a timely manner.

Call me now to see how you can take advantage of this once in a lifetime opportunity.

Yours,
Brett Adams, REALTOR(R), GRI
Brett Adams Real Estate

GOVT TO PAY YOU UP TO $8000 TO MOVE!

By now, you have probably heard that the $8,000 federal tax credit has been extended through April 30, 2010 for First Time Home Buyers.   But did you also know that there is also a $6,500 federal tax credit for REPEAT Home Buyers?  That’s right!  Move up, down, or over to receive this credit. 

As you can imagine, there are a few qualifications.  For example, you have to have owned and resided in the same home for five of the last eight years.   And the credit is actually 10% of the purchase price of the next home, up to $6,500.

To find out more, go to:  FederalHousingTaxCredit.com

Then call me to talk about how to cash in on this opportunity!

Yours,
Brett Adams, REALTOR(R), GRI
Brett Adams Real Estate

AUSTIN JOBS LEADING WAY!

Nationwide unemployment stats are making the news these days, with many parts of the country posting double-digit actual unemployment (not those silly "statistics" published by the Bureau of Labor and Statistics). But Austin is perhaps THE bright spot in the jobs market news, which is a good thing. In fact, a healthy job market it is the only thing that drives a real estate market - there will always be a connection between income and the ability to buy a home. Corporate earnings are the leading indicator of economic direction, and employment is the lagging one. Today, we have good news about jobs growth in the greater Austin area.

Austin and San Antonio are now predicted to lead the nationwide jobs market recovery. As my clients know, we did not have a bubble burst here, because there is no real estate bubble in Texas. That being said, declining markets around the U.S. have caused our market to slow down a bit. A strong job market will attract new people to the area. These people will buy our home when you are ready to move, or buy the home next door to keep foreclosures down and your property value up.

Here is the full article from the Dallas Business Journal.

Yours,
Brett Adams, REALTOR(R), GRI
Brett Adams Real Estate

$8,000 CASH TO BUY FIRST HOME?!? YUP.

Did you know that the federal government wants to give you $8,000 for your next home?  It is available to home buyers who have not owned a home for the past three years! ... but you will have to act now - you must purchase the home by December 1, 2009.

And based on the lending process, that home needs to be under contract by November 11th, just to be safe.  So there is plenty of time to give move-out notice to your landlord and house hunt, but we really need to start now.

How does it work?  This is a federal tax credit program.  That means that you claim your money by not paying taxes.  Really.  If you have children, then you know just how tax credits work, because chances are you have been enjoying the child tax credit for a few years now.  Unlike tax deductions which adjust the gross income on which your taxes are paid (saving you a fraction of the deduction in taxes), a tax credit reduces your taxes in one-for-one dollars.  So, if you claim the $8,000 first-time home buyer tax credit, you will cut your taxes by $8,000 this year!

In Texas, there is even a mechanism to get most of the $8,000 at closing, allowing you to use these funds for your closing costs.  That mechanism taps bond money set aside for this purpose is in the form of a loan to you.  The entire amount is not available, and there is a fee to take advantage of this program, but if that is what makes homeownership affordable to you, then by all means give me a call so we can explore that with a lender.

If you do not need the funds to close, then you will claim it on your 2009 taxes and get it in your refund. When you file your tax return for 2009, you will need to attach IRS form 5404 to your form 1040.  A copy of this form is available here for your review.

It is that simple!

But we need to get going right away.  Please call me to talk about whether this will work for you.  If  you have been considering buying your first home, then now may be the best time.  If you know of someone considering their first home purchase, please send me their contact information and I would be glad to follow up with them.

We are seeing interest rates that we probably will not see again for decades, and now $8,000 in real cash is yours in February if you file your taxes right away - and can be tapped to close immediately if that is what you need.  This program is scheduled to disappear on December 1, so let's get moving!

Yours,
Brett Adams, REALTOR(R), GRI
Brett Adams Real Estate

Welcome!

Welcome to my new blog.   


The purpose of this blog is to keep you informed about how today's news and trends will impact the greater Austin real estate market as well as keeping you up-to-date with what is happening at Brett Adams Real Estate. 

Subscribe to this blog to hear an insider's view of how today's headlines are shaping our real estate futures.

Your respectful opinions are always welcome, so please add comments if you have a supporting view, a different perspective to add or facts to straighten.

And as always, I look forward to helping you however I can.

Yours,

Brett Adams, REALTOR(R), GRI

Brett Adams Real Estate