lonniesnyder's Blog: General Information

Hi,

My name is Kim McLaughlin with Axia Financial. Do you know that A tax credit of up to $8,000 is now avaiable if you are a qualified first-time home buyer and purchase a home before December 01 2009?

Here are some highlights of this program;

1)The tax credit is for first-time home buyers only.
2)The tax credit does not have to be repaid.
3)The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
4)The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
5)Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

How do I claim the tax credit? Do I need to complete a form or…

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With so many urban centers being classified as "declining markets," it is now more important than ever to be as familiar with every possible option for obtaining affordable financing for our borrowers and buyers. Because of the new requirements issued by Fannie Mae, Freddie Mac and the private mortgage insurers, every loan officer and realtor needs to know what it takes to get FHA financing for a borrower buying a condominium unit.
Loan officers: it's your business.
Selling agents: knowing will help you market your condo listing to a larger universe of qualified buyers and, if the condo is not eligible, save you the time of having to show a unit to unqualified buyers.
Buyers' agents: the same is true -- no sense in showing someone a condo in a…

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 Well-located homes in need of tender loving care can be a terrific value. If you're interested in building "sweat equity" fixing up a home, hire a professional inspector to ensure the home won't cost you a fortune to refurbish.

A worthy handyman's special will be structurally sound with all major systems in good working order--heating/cooling, plumbing, electrical, roof. Those are the most costly items to repair or replace. Your time and effort will be better spent painting, making minor repairs, adding or replacing fixtures, sprucing up the landscaping, and accomplishing other low-cost fix-ups.

Lonnie Snyder
REALTOR®
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail : snyder@kw.com
Website: http://www.callsnyder.com/ Read Full Post

Prepare For Winter

The fall Equinox is a good time of year to start thinking about preparing your home for winter, because as temperatures begin to dip, your home will require maintenance to keep it in tip-top shape through the winter. Call an HVAC professional to inspect your furnace and clean ducts. Stock up on furnace filters and change them monthly. Consider switching out your thermostat for a programmable thermostat. If your home is heated by a hot-water radiator, bleed the valves by opening them slightly and when water appears, close them. Remove all flammable material from the area surrounding your furnace.   Cap or screen the top of the chimney to keep out rodents and birds. If the chimney hasn't been cleaned for a while, call a chimney sweep… Read Full Post

Do you look for the best deal? Do you wait for your favorite item to go on sale? Are you thinking about buying a home with current prices dropping to a 3 year low? Here are 5 questions that you can ask yourself to see where you stand.

Is our rent equal to a loan payment? If you can afford to buy, it can give you one bonus that renting cannot—the lucrative tax breaks that come with owning a home:

• Deductions for payments of mortgage interest, loan discount points and real estate taxes.
• Home-office deductions for qualified owners.
• Deductions for expenses if you rent out your property.
• Home-sale capital-gains exclusion—profits up to $500,000 tax-free!

Are prices in our preferred area steady?…

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In today's new real estate market the time for hesitation is past. Now is the time for action. To take advantage of the new market, the reality is clear—don't wait:

• If you are ready to move to a home where you would rather live;
• If you can afford a conventional fixed-rate loan;
• If you plan to live there or own it for several years; now is the right time to move or buy a first home, second home or rental.

Waiting rarely pays off for many reasons. I will share with you what we've learned from experience.

Recent Sales

Homes are selling in our area. Yes, there is more inventory. Yes, time on market is longer. Yes, loan requirements are tighter. Yes, there are more short sales, bank-owned foreclosures and rental bargains that pull… Read Full Post

Whether you see the housing market "glass" as half-empty or you see it as half-full, industry experts agree that homeownership is still one of the safest, most secure ways to build long-term wealth. On a national level, home appreciation has historically increased 5% to 6% annually, according to economists at the National Association of Home Builders (NAHB).

Doesn't sound like much? Consider the return on your original investment, not the home price alone. Here's an example that puts it into perspective: Let's say you make a 10% down payment on a $200,000 home (an investment of $20,000). At a 5% annual appreciation rate, your $200,000 home would increase in value $10,000 during the first year. Earning $10,000 on an investment of $20,000 is an…

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A big part of my job is matching sellers with buyers. Be sure to call me if you're looking to buy a short-sale home!

Short-Sale Process Requires Professional Help
Conducting a short sale is not a simple process, as it requires negotiations with the lender (often more than one lender is involved) as well as the buyer, who may not understand the unique intricacies of the process. That's where my expertise becomes essential. We understand the complexities and critical timing of short-sale procedures and can guide you--whether you want to sell your property as a short sale or you're interested in purchasing a short sale. Please feel free to give me a call for more information. We'll be happy to discuss all your options! Short Sale Beats Foreclosure On… Read Full Post