The Tax Credit for Home Buyers Expires TODAY

Yesterday I spoke with Neil Cavuto on the Fox Business show "CAVUTO" about the expiration of the tax credit. I went on the record saying that the tax credit was necessary to get buyers off the fence at a time there was so much fear in the marketplace. The tax credit targeted low-end housing (where the most distressed appeared) and first-time home buyers. At one point 50 percent of the buyers were first-time buyers so this tax credit worked. Latest reports now show that investors were responsible for 19 percent of the transactions in March. Most of these investors are not motivated by the tax credit or interest rates since a large number purchase with all cash. I stressed that it is the price that has brought investors back into the marketplace: therefore, we do not to give a tax credit when buyers are now buying in all price ranges because of attractive prices that exist today.

Consumer confidence is also much higher-in April it measured at 57.9 percent. February pending home sales are up and the number of homes sold nationally have been up year over year for the last 9 months. New home sales were up in March (and beat estimates) and the stock market has come back giving many the feeling of being wealthier than a year ago. This also could be one reason housing has shown strength.

Warren Buffet said the he does not agree that "cash is king" as he thinks cash is a poor investment. So if investing is the smart thing to do then buying real estate at a time when rates and prices are low is the way many people are moving. Almost anyone can understand how to buy and sell homes but investing the same amount in stocks is something most would need a far greater amount of knowledge and time to properly manage long-term.

CALL FOR A FREE CONSULTATION BEFORE SELLING OR BUYING

Most people call me for a consultation because they want to know the value of their home and how I would price and promote their property. Nevertheless, I have also been called to help a homeowner prepare their home for the market, advise them on improvements that will add value to their home and to offer advice as to whether they should even sell or buy based on their current set of circumstances.

Whatever your need is, I promise to give you an honest answer and to support my opinion with data or written materials from industry insiders whenever possible. There is NO CHARGE FOR A CONSULTATION if you are in the Los Angeles area. You are also under NO OBLIGATION to work with me but I certainly hope that will be your decision!

To Make An Appointment:

Ph 310 913-1184
Email: connie@conniedegroot.com

http://www.conniedegroot.com/
http://www.whatsupinsantamonica.com/

All FIRST TIME HOME BUYERS MUST READ THIS

Buying a home for the first time is exciting but it can also be very scary. In working with first-time buyers I have found that by explaining the entire process and by giving buyers a timeline of what and when they can expect things to occur, tensions are greatly reduced and the joy of buying a home remains most prominent.

In today's market we have further challenges that have caused many buyers to be unsuccessful. Careful preparation needs to begin long before house hunting. A buyer today must have excellent credit and the resources for a reasonable down payment. I also encourage buyers not to spend at their uppermost limit as banks sometimes change their demands at the last minute asking the borrower to come up with a larger down payment. If this should happen after all contingencies have been removed, the buyer could have his 3percent deposit at risk.

These surprises can take all the joy out of buying but with careful planning at the beginning, and having an experienced, well respected advisor, you will give yourself the best chance to be successful buying or selling.

If you would like more information, or if you would like for me to help you find excellent representation in your area of interest, just give me a call. You may also contact me to get up-to-the-minute mortgage info, tax benefits,and incentives being offered to first-time home buyers!


You May Reach Connie De Groot at: Ph 310 913-1184
You May Email Connie Directly at: connie@conniedegroot.com

Connie's Websites:
www.ConnieDeGroot.com
www.WhatsUpInSantaMonica.com

FIND A LOCAL REALTOR

FINDING A GREAT REALTOR IS NOT EASY, so let me help!

Throughout my career in this industry I have heard stories from home sellers and home buyers about Realtors that have been less than helpful or that they blame their Realtor in part for troubles with their current home. Some of these stories are rather funny and we all laugh together but many are not as they have cost some people great financial hardship.

Buying and Selling such a large asset should be considered carefully and the highest expectations should be set for the individual representing that valuable asset. Referrals are often a good course to take when searching for an outstanding individual but there are many reasons someone is pleased with their experience and one person’s satisfaction may not hold true for you.

To really find the top person in your area you must interview the individual and first see if he or she is a comfortable fit. Next, you must know the right questions to ask a Realtor or you may not get an accurate picture of what that person can offer you.

And here’s where I can help! Being a Realtor I know the right questions to ask and what the appropriate responses should be from a skilled Realtor. Recently, I have been offering, to anyone in the United States, my service to interview Real Estate Agents and then send only the very best Realtors from your local area to your front door. All this is to make it easier for you and to hopefully get you the best possible service and experience!

So if you are looking to Buy or to Sell and want my help, just give me a call and I will get to work within 24 hours. My help will NOT COST YOU ANYTHING. Please just call me or send me an email with your contact information.

Connie De Groot
Ph 310 913-1184
Email: connie@conniedegroot.com

Real Estate News- Why The Housing Market Is Likely To Take More Time To Recover:

1. While low-end homes are moving, moderate to high-end homes are not having the same progress. Low-end homes have been selling to owner/users as they have been enjoying low prices, tax credits and with new homes, more incentives from builders. Investors have also been jumping into this market largely with cash buying multiple properties.
Higher-end home prices have not adjusted to the same degree as low-end homes in since moderate to high-end homeowners have been more able to be more stubborn with their price. Nevertheless, these days even these Sellers realize they must price aggressively to sell and some of these homeowners are now struggling to keep their homes or have lost their home to foreclosure.
2. Financing has been a tremendous challenge for many buyers and has kept many from buying today. When rates go up the buyer pool will most probably be further reduced. This may result in lower demand and even lower prices.
3. Banks have kept homes off the market (shadow inventory) and have worked with borrowers to do modifications but the historical rate of re-defaults within a 12 month period is about 50 percent. This means many of these borrowers will need assistance again or end up leaving their home.
4. People are still cautious since they have experienced a loss of wealth or know someone that has experienced great losses in real estate. In this economy, some are still hesitating to commit to a large investment, others have to rebuild their credit and their savings to qualify today.
5. If Lenders wish to reduce principal then they should decide that on a case by case basis and not be required to do so by the government. Lenders have been making adjustments and the government using taxpayer money in this area may do more harm than good.
6. We have an excessive supply of homes. The current number of vacant homes is 10 percent compared to an average of 2.2 percent!

IN CLOSING

A home should be considered a LONG TERM INVESTMENT. You do not have to buy at the very bottom to do well with a long term investment. You do need to know that you can AFFORD to carry that investment long term.

Buyers are out there buying and fighting for properties in many areas because they see that the cost to replace is much higher than the price to purchase. Investors see that they can break even or turn a profit when they rent these properties! Most importantly, every buyer needs good advice and someone experienced to guide them. It is now very clear that buying a home should be carefully considered and if this is done, long term, you should do well buying.

Here's something to keep in mind. Most homeowners have lost equity but are in no danger of foreclosure. Many have used their home's equity to finance their children's education and have acquired wealth for retirement. Again, as with any investment, you need to have a certain amount of knowledge to do well. Realtors are out there every day sharing knowledge. Find the right Realtor or advisor and be responsible.