Supernice REO Listing, Prescott Valley AZ

Prescott REO Homes and the New Tax Credit

Prescott Arizona REO properties are still a large part of the Prescott housing market currently accounting for about 35% of the sales with only 10% of the listings. Many bank owned properties come with perks such as home warranties or seller paid closing costs which make the deals even more attractive. On top of those, President Obama has signed a bill that extends the existing tax credit for first time homebuyers into the first half of 2010. The extension continues the existing tax credit for 10% of the purchase price up to a maximum of $8,000 for first time homebuyers (anyone who has not owned a home in the last three years).
In addition, the new bill also opens up opportunities for others who are not buying a home for the first time. For buyers who have owned a home for five of the last eight years and are purchasing a new primary residence they will receive a tax credit of 10% of the purchase price up to $6,500. They do not need to sell their existing residence to qualify, but they must move into the new home as a primary residence. This expansion of benefits to non-first time buyers is particularly helpful for a large segment of the Prescott area buyer's market. We all know what a great place Prescott is to live in and we are not alone. Most Prescott agents have an extensive list of prospective buyers who intend to move to Prescott in the future. This $6,500 incentive seems almost tailor made for this traditional Prescott buyer base.
In both cases, buyer income caps apply. There are other details of the bill that may impact individual situations. Ask me to recommend local mortgage brokers who will be happy to consult with the buyer's CPA to determine exactly what their credit is likely to be.
Both tax credits apply to purchases under contract by April 30th 2010 and they must close before June 30th 2010. This give Prescott REO buyers approximately five months to find a home and write a contract. Additionally, Federal Reserve bond purchase programs that have helped keep rates low over the last year are currently winding down. Many forecasts suggest rates in 2010 will average more than half a percentage point above current levels. Local appraisers are telling us values are stable in almost all of Yavapai County and do not show signs of continued decline. Combine the short window on the tax credit, the likely rise in rates and stabilization of prices and its hard to imagine a better opportunity for buyers than right now.

Poquito Valley Foreclosure on 2 Acres

$8,000 First Time Homebuyer Tax Credit to be Extended?

Tax Credit extension likely?

Diana Olick, CNBC’s Real Estate Reporter, thinks the administration is going to extend the $8000 Home Buyer’s Credit. “I was on the fence for a while as to whether Congress would extend the $8000 first time home buyer tax credit and whether the Administration would stand behind that, but I'm getting some clues that have pushed me over the side,” Olick says. “I think it may happen.” She names a couple of insiders who deflected her questions about an extension, but cites Secretary Geithner as saying, “We're not going to make the mistake many countries made in the past of putting the brakes on too early and creating risk that we have a, you know, weaker recovery with even higher levels of unemployment going forward.” And Geithner again: “…[we are] looking at a set of programs like unemployment insurance, other sets of things that have--that are set to expire. And there's a good case for extending them. And I think a lot of support fundamentally for doing it.” Olick also cites a report by the Joint Committee on Taxation on extending and even broadening the credit that Capital's Washington Research Group says, "strongly suggests that a mere extension of the program will be much less and refutes whispers in Washington that an extension alone could cost more than $15 billion.”

NEW Prescott Valley Foreclosure

Hitting the Market today!
You are the first to know!

Noel Ct, Prescott Valley,
1300 Sq Feet
3Bed 2Bath
Built in 1994
Only $99,000

Need Money? We have lenders who can get you up to a 22% Down payment that you do not need to repay!
Tax Credit expires end of November, time is running out


Call the Stephanie Woods Team
928-237-4455

Weekly Foreclosures 10/5

Weekly Foreclosure list:

http://www.paarmls.org/prs/maildoc/sd_AAAa002RK20091005175800.html

HURRY time is almost up for the Tax Credit!

If you are looking to take advantage you need to have closed on a home by end of November and it usally takes 30-45 days to go close.

We are here to help!

Keller Williams

(928)237-4455

Prescottreoagent@gamil.com

Like New 5 Bedroom

NEW FORECLOSURE!

Lauren Ln in Chino Valley

2600 Sq Feet

5 Bed 3 Bath

1 Acre

Separate living Room and Family Room

Fire Place, Stainless Appliances Upgraded Cabinets

LIKE NEW!



$249,000



Call Jessica & Janette 928-237-4455
PrescottREOAgent@gmail.com


Stephanie Woods Team

Keller Williams

901 Yuma, Chino Valley, AZ

Yuma, Chino Valley AZ

THIS WILL NOT LAST!!
Site Built home on 2 AC
1400 Sq Feet
Across from state Land
Separate Garage
Under $92,000

CALL FOR MORE INFO 928-237-4455
ACT FAST THIS IS YOUR CHANCE TO BEAT OTHERS TO THIS EXCEPTIONAL DEAL!!!

1ST TIME BUYERS ARE SHOPPING

The market is definately picking up. 1st time buyers are out and shopping. If you are looking for a place of your own to call home pick up the phone and give us a call today. We are a hard working dedicated team willing to put in the footwork to find the right place for you.

The Stephanie Woods Team

928-237-4455

prescottreoagent@gmail.com

Call today!!