Craig & Gina Wiley REALTORS
Coldwell Banker Preferred
390 Waterloo Blvd
Exton, PA 19341
Office 610-363-6066
wileyrealestate@comcast.net
You’ve heard about the $8,000 -Tax Credit for First Time Home Buyers and the $6,500 -Expanded Tax Credit for current home owners but did you know that you can get tax credits just for making your home more energy efficient?
If you’ve purchased an energy-efficient product or renewable energy system for your home, you may be eligible for a federal tax credit.
Here are the details….
You could get up to $1,500
Tax Credit Expires on 12/31/10
Must be used on your existing home & principle residence. Rentals and New Construction would not qualify.
What improvements are included in the tax credit?
Click here to find out!
Craig & Gina Wiley REALTORS
Coldwell Banker Preferred
390 Waterloo Blvd
Exton, PA 19341
610-363-6006 ext 6066
WileyRealEstate@comcast.net
Click on the picture to the right to view the differences between the old tax credit and the new extended and expanded one! 🙂
Craig & Gina Wiley
The $8,000 federal tax credit for first-time homebuyers is scheduled to expire on December 1, 2009. However, in order to qualify, the transaction must be closed on or before November 30th, essentially leaving first-time buyers with less than three months to complete the process. This assumes approximately 45 days to search for a home and another 45 days to obtain mortgage financing and complete all the necessary steps to closing, including appraisals, inspections and title work. While the urgency of trying to find and close on a home before the deadline may seem stressful, it doesn’t have to be.
The tax credit is encouraging first-time homebuyers, but we’re concerned that people could miss out on this unique money-saving opportunity if they don’t anticipate the time necessary for closing. While every home purchase is a unique experience, we are encouraging first-time homebuyers to be under contract by early to mid-October in order to safely meet the closing deadline and qualify for this tax credit.
For those first-time buyers who are in the early phase of entering into the home buying process, Coldwell Banker Preferred offers consumers the following six steps for speeding up the process:
1. Find A Qualified Real Estate Agent. A team of experienced professionals are key to making the home buying process simple and seamless. Start by interviewing and selecting a sales associate who understands what you’re looking for. A real estate agent will arrange showings, and keep track of the properties visited. He / she should also be able to help indentify suitable lawyers, mortgage lenders, home inspectors and others who play a role in the process. Remember, an agent is an expert who will negotiate the best price and incentives on a home, and will oversee the sales process on a homebuyer’s behalf. It is critical that you get a timeline from your real estate agent so that you leave enough time for the sometimes lengthy closing process to occur.
2. Know Before You Go. The first step in the home buying process should always be to have an idea of the type of property one wants to buy. By separating the “must haves” from the “wants,” homebuyers can focus on what’s really important. Free online tools such as Coldwell Banker On Location and the recently launched mobile application for iPhone and Android devices are available to help consumers quickly and conveniently learn about neighborhoods, view what’s on the market and compare home prices in over most U.S. markets and 28 countries worldwide. Homebuyers who arm themselves with as much knowledge as possible before hitting the ground with an agent are bound to save time in the long-run.
3. Get Your Credit Report In Order. A sound financial track record and solid credit score can help lock in a home loan and lower interest rates. Lenders today are looking at prospective borrower’s credit reports more closely than ever so it’s important to examine one’s credit report for mistakes and eradicate any “toxic” debt such as overdue credit-card payments before the home shopping begins. Rectifying mistakes is easy to do but it can be a time consuming process. Checking a credit score and addressing any errors will help expedite the approval process when it comes time to make an offer.
4. Compile Your Paperwork. At the same time homebuyers are working to correct or improve their credit report, they should also pull together the documents they will need to provide the lender. These documents include:
• Verification of employment form
• Two most recent pay check stubs
• Two most recent bank statements
• Copies of the last two W2 forms received from employer
• Copies of any asset statements including those for retirement accounts, stocks or bonds
• Copy of social security card
* If there is a co-applicant on the loan, all of these forms will be required of that person as well.
5. Get Your Pre-Approval. Once the paperwork is in order, it’s time to get pre-approved for a mortgage. “Pre-approval” means that a lender has verified the borrower’s credit and other credentials and is committed to making a loan. This is different (and more valuable to sellers) than pre-qualification, which simply gives the borrower an idea of the size of the mortgage he / she might afford without actually committing to a loan.
The borrower is not obligated to get a loan from the lender that offers the pre-approval letter but keep in mind that a pre-approval does involve giving permission for a hard credit inquiry. This could potentially result in a small ding on the borrower’s credit report. Getting this early green light, however, will put homebuyers in a stronger position with sellers, demonstrating how serious they are about home ownership – and that they are well-qualified.
6. Shop for the Most Favorable Mortgage Option. People can face misunderstandings and even lose their homes if they don’t fully understand their mortgages. It’s imperative for homebuyers to educate themselves on the risks of the different types of mortgages and select the right one for his / her family. Early on, shop around for the most favorable mortgage rate and terms. A difference of even half a percentage point can mean a considerable savings over the life of a loan.
For additional information and provisions on the first-time homebuyer federal tax credit, contact us today!
“Teamwork Makes The Dream Work!”
Craig & Gina Wiley
Coldwell Banker Preferred
390 Waterloo Blvd.
Exton, PA 19341
Office 610-363-6006 ex 6066
So, you bought the house and now it’s time to make it your own. Everyone has their own taste, styles and ideas on how to decorate their home.
Regardless of your style, it’s likely you will want to make some purchases to decorate or remodel your home. We recently, came across a web portal called Market America that literally has 3,000 stores in just one location.
Check this out, if you register as a customer, they will reward you with 2% cash back on anything you purchase on-line.
This site is very convenient and easy to use. I found that the stores with a “Premier Partners” designation, will allow you to shop from multiple stores and still check out one time.
It’s like a huge mall at your finger tips, and the best part…you receive cash back for shopping!
How does that sound Mama Cheaps?!
Owning a home is so rewarding and creates so many memories for you and your family. Take the time to create an environment that you will always cherish for years to come. In the process, put a little back into your wallet.
“Teamwork Makes The Dream Work!”
Craig & Gina Wiley
Coldwell Banker Preferred
390 Waterloo Blvd.
Exton, PA 19341
Office 610-363-6006 ex 6066
Do you know how much your neighbors are asking for their house? No…that’s easy to fix!
As a FREE service, we would like to notify you when a new home near you goes up for sale in your area. This free service is NOT just for people thinking about moving!
Everyone benefits from knowing what is happening where they live. With your permission, we will send you an email notification anytime a home is listed in your area. The email will include details of the home, pictures and the listing price.
If you would like to see homes from an area different from where you live…just let us know where and we can do that too.
To Get Started: Simply click here. Select “Question” from the drop down menu and type “Keep me informed:” followed by your address.
You can easily unsubscribe to this service at any time. The sooner you respond, the sooner you will get this valuable information. We look forward to keeping you informed!
“Teamwork Makes The Dream Work!”Craig & Gina Wiley
Coldwell Banker Preferred
390 Waterloo Blvd.
Exton, PA 19341
Office 610-363-6006 ex 6066
craig_wiley@comcast.net
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If you still have questions about this amazing opportunity, watch this short video from The National Association of Home Builders.
When you are ready to take advantage of this, contact us. We would be honored to assist you.
Owning a home is a big part of the American Dream. Here are some resources that can help you buy, maintain and keep your home.
Getting Started
Housing counseling agencies – free or low-cost counseling services for buying, renting, defaults, foreclosures, credit issues and reverse mortgages
Education – learn how to manage your money, and more…
Predatory lending – beware if you’re buying or refinancing your home; don’t become a victim of unfair lending practices.
Buying a Home
Assistance programs – resources and programs to help you buy and maintain your home
Homeownership vouchers – some public housing agencies help you become a homeowner through the Housing Choice Voucher Homeownership Program.
Owning and Maintaining Your Home
Home repairs – money for home improvements and repairs.
Make your home more energy efficient
Avoiding foreclosure – don’t lose your home!
Visit Chester County Department of Community Development to learn about local assistance programs such as:
“Teamwork Makes The Dream Work!”Craig & Gina Wiley
Coldwell Banker Preferred
390 Waterloo Blvd.
Exton, PA 19341
Office 610-363-6006 ex 6066
craig_wiley@comcast.net
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Why should I work with a REALTOR when purchasing a New Construction home?
This is a question that many people have and should understand the answer to before walking on the soil of a new construction site!
Let’s start with the agent at the builder’s office… This agent works for the builder and represents the builder, not you, the consumer. To put yourself on an even playing field you should have a Realtor looking out for YOUR best interests. Most builders welcome Realtors and will pay the Realtor’s fees – so it makes sense to have a professional working for YOU.
Some things your Realtor will do:
Most people think the prices of all new homes are fixed like the price of milk at the store. In the lower price ranges this may be true, but this not necessarily true in the higher price ranges. This can be an area that your Realtor can negotiate for you. The negotiations may take the form of free upgrades, changes in floor plans, special financing or a premium lot that should have sold for more money. While the builder needs to be fair to previous buyers, your Realtor may be able to strike a better deal for you than you could.
Check out NEW CONSTRUCTION in Chester County and surrouding areas! In order to be represented by a Realtor you MUST have the Realtor accompany you on the FIRST VISIT.
If you show up at a new construction site without a Realtor, most builders will not allow you to have a Realtor represent you in the process should you choose to build with them.
Why is this? …. We’ll let you come to your own conclusion!
Click the image to enlarge the current mortgage rate sheet.
“Teamwork Makes The Dream Work!”
Craig & Gina Wiley
Coldwell Banker Preferred
390 Waterloo Blvd.
Exton, PA 19341
Office 610-363-6006 ex 6066
craig_wiley@comcast.net
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Click to view the mortgage rates.
“Teamwork Makes The Dream Work!”
Craig & Gina Wiley
Coldwell Banker Preferred
390 Waterloo Blvd.
Exton, PA 19341
Office 610-363-6006 ex 6066
craig_wiley@comcast.net
Find us on Facebook!
On February 18, 2009, President Obama announced his Making Home Affordable Program (MHA), designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages. In doing so, the plan helps responsible homeowners behind on their payments or at risk of defaulting and prevents neighborhoods and communities from being pulled over the edge too.
” Teamwork Makes The Dream Work!”
Craig & Gina Wiley
Coldwell Banker Preferred
390 Waterloo Blvd.
Exton, PA 19341
Office 610-363-6006 ext. 6066
craig_wiley@comcast.net
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