DAVE KNOWS CT

First time homebuyer tax credit extension for military personnel

2010-05-20T02:41:00.004-04:00

Members of the military and certain other federal employees serving outside of the United States have an extra year to buy a principal residence and still qualify for the $8000 first time home buyer tax credit. You must be under contract by April 30th 2011 and close by June 30th 2011. Good to see an extra benefit for the fine men and women serving in the armed forces.Feel free to contact me at 860-280-8592 with any questions or just email me at dswinkoski@aol.com.

Time to take advantage of tax credits for home buyers

2010-03-16T01:44:00.005-04:00

What an opportunity for home buyers.Low prices,great rates,and the added bonus of generous tax credits.Right now first time home buyers can qualify for a $8000 tax credit.Even if your not a first time homebuyer you may still qualify for a $6500 tax credit.The catch? You must have your home purchase under contract by April 30th 2010, and close by June 30th 2010. Contrary to popular belief,mortgages are available to qualified buyers.General rule of thumb... a 620 credit score should qualify you for a fha loan. What is an fha loan? In a nutshell you can qualify for a loan with just 3.5% down. additional closing costs can be covered by the seller if you employ the help of a qualified Realtor. In almost all cases there is no cost to the buyer since the Realtor representing the buyer is paid from the selling agents commission.For more information contact me David Swinkoski at 860-280-8592 or email me at dswinkoski@aol.com. This perfect storm of low prices,low rates,and tax breaks may never happen again in your lifetime. Start building wealth today.

$6500 Tax credit for move-up/repeat home buyers?

2009-11-10T09:37:00.002-05:00

Well if you felt left on the outside looking in on all the tax credits for home buyers it may be worth looking into the new $6500 tax credit for move-up/repeat home buyers. The credit is good for contracts signed before April 30th,2010 and closed before June 30th,2010. Contact a qualified tax advisor to see if you can take advantage of this program.

FIRST TIME HOME BUYER TAX CREDIT EXTENDED

2009-11-10T09:28:00.003-05:00

The first time home buyer tax credit that has seemed to have success in bringing out first time home buyers has been extended to contracts signed before April 30th, 2010 and closed before June 30th, 2010. The extension also raised the income levels for qualification now up to $125,000 for a single taxpayer and $225,000 for married couples filing joint returns.

Stranglehold on Sellers

2009-10-25T02:33:00.003-04:00

As prices of existing homes continue to fall,more and more sellers are taking an alternate route,by renting out the property in a means to buy them time until the market recovers.And this Realtor has got to say SMART MOVE. Why in the world would you sell on the bottom unless you have a gun to your head and have no other choice. The clock is winding down on the first time buyer tax credit ,and chances are if you don't have a buyer on paper by now it is too late unless the program is extended.If you need expert advice and up to the minute data please do not hesitate to call me at 860-280-8592 or email me at dswinkoski@aol.com to choose the most advantageous course of action for you.

If you need to sell your home......

2009-08-13T22:29:00.007-04:00

Price ahead of the market and not behind it. What does that mean? Everyone who sells their home wants to get as much money as possible. A no brainer.But in a market that has many more sellers than qualified buyers the keys to success are simple. First the obvious, making sure your home looks as good as possible every time someone comes to look at it. If there is a repair you can do yourself or for very little cost DO IT. But more importantly in our quest to try and get every last dollar out of our homes we end up pricing ourselves out of the market.Take a condominium for example. In the same complex many units sit,and sit and just don't sell.The complex as a whole can even start to get a stigma about it.Then someone lists a unit in the same complex and boom it sells in a matter of days or weeks.Not magic folks it was priced right with a savy realtor that was able to convince the owner pricing the home at the right price to start with gives you the best chance for success. A property that is new to the market is like a new toy when it first comes out everybody wants to look at it,play with it.But let that same property sit for a month and no one wants anything to do with it.Now your really going to start dropping the price trying to catch the market but going in the wrong direction.Your much better off starting with a price edge over your competition right from the beginning.Want to sell your home for $300,000 ? Go look at the other homes offered for $300,000. If your home is not the nicest one,you probably need to lower you price If your looking to sell your home contact me at 860-280-8592 or email me at dswinkoski@aol.com and together we make sure your property stands out from the competiton and brings you a quick sale.

HUD HOMES

2009-06-20T19:33:00.003-04:00

Ever heard the term HUD home and were not exactly sure what that meant? A HUD home is a 1 to 4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. Almost anyone can buy a HUD home if you have the cash or can qualify for a loan with certain restrictions. The initial offerings on these properties are to owner occupied buyers,after which they become available to all buyers including investors. Hud properties in designated areas are also available at a reduced price to law enforcement officers, teachers, firefighters, emergency medical technicians, nonprofits and local governments. If you think you may be interested in one of these properties or just want to know more, write me at DaveKowsCT@aol.com and I will be happy to furnish you information on properties in areas you may interested in.

Should you get a home inspection before buying a home?

2009-05-26T16:21:00.003-04:00

My advice to you is yes,especially when we are talking about an older home.Most competent Realtors will advise you to make a acceptable home inspection result,as a contingency of your offer to purchase.So you can still lock up your dream home with a deposit,while still being confident in the home you are purchasing.Should anything major come up on the inspection you would be able to withdraw your offer,or renegotiate it. If it is a bank owned property being sold as is,chances are you would have to have the inspection done before making an offer so you know what you are getting into.
The purchase of a home is probably the largest single investment you will ever make. You should learn as much as you can about the condition of the property and the need for any major repairs before you buy, so that you can minimize unpleasant surprises and difficulties afterwards. Of course, a home inspection also points out the positive aspects of a home, as well as the maintenance that will be necessary to keep it in good shape. After the inspection, you will have a much clearer understanding of the property you are about to purchase. If you are planning to sell you home, you may wish to have an inspection prior to placing your home on the market. This will give you a better understanding of conditions which may be discovered by the buyer's inspector, and an opportunity to make repairs that will put the house in better selling condition.In fact I am currently offering a no cost home inspection to any homeowner in Ct,that lists their home for sale with me.For more information you can contact me at www.DaveKnowsCt.com

Existing Home Sales Numbers for March 2009

2009-05-02T15:49:00.003-04:00

The figures for existing home sales for March 2009 are in and are as follows. Sales of existing homes were down 7.1% year over year or 3% lower than February. Single family home sales dropped 10% for the first quarter of 2009 compared to a 17.4% drop for the last quarter of 2008. First time home buyers made up 53% of the existing home sales in March,and over half of all transactions were distressed properties. Foreclosed homes generally sell for about 20% less than traditional homes,and usually for good reason. The total number of existing homes for sale on the market at the end of March was 3.74 million units down 1.6% from the previous month.To get more detailed property information for your particular area go to www.DaveKnowsCT.com to search properties.

REAL ESTATE SCAMS on Craig's List

2009-04-20T17:10:00.003-04:00

Most people doing business on craig's list in the real estate section are probably honest business people.However there is also a growing number of scammers popping up,trying to cheat people out of their hard earned money.In the state of Connecticut if your dealing with a licensed professional all Internet advertising should include the licensee's name and office address,the name of the broker the license is affiliated with,and all states where the individual is licensed.With this information it should be easy enough to verify your dealing with a licensed Realtor. One of the common scams is to copy and paste pictures and information from a legitimate for sale listing and advertise it as a rental. The scammer then tries to convince would be renters to send a check in advance because at this price,this rental will not last long... This scam in reverse would target someone with a legitimate rental.At some point,the scammer would say I want to rent the property,but I can not get there in person right now.Give me your bank account number and routing number and I will wire you the deposit and well, you know what happens next,all the money you had in that account is gone. If you think you have been the victim of fraud contact the attorney generals office in the state where you reside. If you wish to avoid being the victim of fraud altogether in your real estate transaction contact me at www.DaveKnowsCt.com to make your next real estate transaction a smooth one.

BUYER REPRESENTATION

2009-04-13T15:20:00.004-04:00

Navigating the complexities of a real estate transaction can be made much easier with the services of a realtor.From the homebuyer's point of view in most cases these services can be provided at no cost to them.When a sellers agent lists a home on the multiple listing service they also list a co-broke percentage.This percentage represents the portion of commission the sellers agent will be sharing with the buyers agent.Since this commission is paid by the seller , in these cases there should be no cost to the buyer in terms of having a licensed realtor represent them in a real estate transaction.For more information you can contact me at www.DaveKnowsCt.com. Make sure your interests are protected.

INVESTMENT PROPERTY IN CONNECTICUT

2009-04-04T14:52:00.003-04:00

While a lot of negative things have happened in regards to the economy of late,one the the positive developments has been the opportunities starting to develop in the investment property segment of the economy.With the combination of low interest rates,excess inventory,and falling prices opportunities that were once unheard of,are now available. Two,three,and four family units in desirable areas now make perfect sense for investment opportunities. If your interested in what is available today, go to www.daveknowsct.com and search the areas,and types of homes you may be interested in. Or email me at www.DaveKnowsCT@aol.com and let me know what interests you,and I will send any properties that meet your criteria right to your email. If you like one of the listings I send you,let me know and I will provide you with more details.

Short Sales In CT

2009-03-31T17:01:00.003-04:00

A short sale occurs when a bank agrees to the sale of a property for less than the amount owed.This is happening more and more as banks try to cut their loses,and not get stuck with more properties. If the property you are looking at states subject to bank or lien holder approval,there is a good chance your getting involved in a short sale.Some advertisements clearly state short sale. This means instead of the traditional two party transaction,there are now three parties involved.The buyer,the seller,and the bank that must approve the sales price in a short sale.Most of these properties are sold as is, but a home inspection will let you know what your getting into. Be ready for a longer than usual transaction as banks usually have many of these properties on their books,and take some time to respond to offers.But if you have the patience,and exercise caution your dream home may be purchased in a short sale.

Is now the TIME TO BUY?

2009-03-28T22:15:00.003-04:00

Picking the bottom in any market is a difficult thing to do. Everyone wants to time the market and jump in at just the right time.Unfortunately,it is almost impossible to do. Just take a look at the stock market over the last few weeks.While the market continued to drop to just above 6500 most people wondered how much lower it would go.Others saw the opportunity and invested,and a few weeks later the market sits at close to 7800 or a gain of almost 20% in just those few weeks.Is the same thing about to happen in the real estate market? I can not tell you that,but what I can tell you is that there is perhaps a once in a lifetime opportunity to take advantage of extremely low interest rates, and falling home prices now with the added bonus of great tax benefits to first time home buyers. So if you have the means, do not miss this opportunity,and regret it for years to come ! Search for your dream house at http://www.daveknowsct.com/

First Time Home Buyer Tax Credit

2009-03-25T14:28:00.003-04:00

First time home buyers are having an impact on the market,perhaps being driven by the new first time home buyer tax credits available to them.So here is some info about the offer. The tax credit is for first-time home buyers only.
The tax credit does not have to be repaid.
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit to them .
Always consult with a financial advisor to see how these laws apply to your situation. If I can answer any of your real estate questions you can contact me David Swinkoski at daveknowsct@aol.com.

GOOD NEWS BAD NEWS FOR EXISTING HOME SALES

2009-03-23T19:53:00.000-04:00

Well the numbers for existing home sales for February are in and as you probably can guess from the title of this post,there is some good news,and some bad news.First,the good news.The National Association of Realtors said Monday that sales of existing homes grew 5.1 percent to an annual rate of 4.72 million last month, from 4.49 million units in January.It was the largest monthly sales jump since July 2003, with first-time buyers accounting for about half of all transactions.Ok,now the bad news.Prices nationally are down 16% from a year ago and many predict they could continue to fall well into 2009.Of course it also depends on which side of the equation your on.If your looking to purchase a home you may never see a better opportunity than now.With prices low,interest rates low ( a combination that does not come along too often) and the new tax benefits available to first time buyers,this could be the opportunity of a lifetime. The stock market liked today's news,with the dow up almost 500 points.