Housing Recovery on the Way with Housing Stimulus Bill

According to Lawrence Yun, Chief Economist at NAR Research, a housing recovery is on the way. The recently passed housing stimulus bills should help stabilize the housing market. The American dream of home ownership is more attainable to first time home buyers. More families may be able to refinance into safer and more affordable mortgages, avoiding the devastation of home foreclosure.

One exciting provision of the recently enacted law is the home buyer tax credit. Up to $7,500 will be available to first-time home purchasers as they file their income tax returns. The amount is phased based on income level and is to be no more than ten percent of the purchase price. Yun stated the amount is equivalent to cash on tax returns. The credit will not be available after July 2, 2009. One should take advantage of the tax credit opportunity during this window of opportunity. Although the bill is still being analyzed by NAR, this is technically not a full credit. There are some payback provisions. However, money loses value over time, so this can still be a big boon. Historically, money is worth more now than it will be in the future. One could, for example, pay off a high interest credit card. With greater home buying and selling activity, credit markets should strengthen and mortgage capital flow more freely. Yun estimates nearly 3 million home buyers will take advantage of this tax credit opportunity before the bill expires in 2009. Will you be one of them?

Speaking of Moving - 5 Tips in Preparation for Your Move

According to an article in RISMedia taken from "Home Buying 101," a move and finding a moving company can be made smoother by the following:

1. To obtain a guaranteed or binding quote, have a visual survey of your household goods by a reputable mover. A quote over the phone is not binding, and you don't want the mover to show up asking for additional money.

2. Allow plenty of time for a visual survey, to get a binding and written quote, and to reserve a truck to meet your necessary lead time. If you obtain a quote before your home sells, you will be prepared for the move when your home sells.

3. Accurately represent everything you want to move, including items in the basement and in the attic or any off-site storage. If items are added at the time of moving, the former estimate will no longer be binding. If in doubt, you can always add the items to the original estimate and then take them out.

4. Reputable movers do not ask for a deposit up front. Reputable movers expect payment on delivery. Asking for money up front can be a red flag.

5. Assure that your mover has a good reputation. Relying on price above reputation might leave you disappointed. Moving day may arrive with surprises such as an overflow that has to be transported in another truck and items that might not arrive at the same time. Look for a competitive bid from a professional mover who is certified and reputable. Price is important, but reputation is important too.

Happy Moving!

Pat

Chattanooga - Top Location to Live

According to a 2008 survey, Chattanoog is the third top city to live in the U.S. Check out the following site for details: http://www.relocateamerica.com/tennessee/cities/chattanooga.

Chattanooga thrives compared with many other cities. Tourists and local families enjoy the TN Riverfront development with our Riverwalk that runs from downtown to Chickamauga Dam. We have the Chattanooga Symphony and Opera, several dance and ballet companies, and other art forms. There are numerous festivals and events for old and young, families and singles. The Tennessee Aquarium continues to expand. Volkswagen just announced a new plant will locate in Chattanooga in Enterprise South, just 3.5 miles from a listing I enjoy in a quiet neighborhood near Hamilton Place and major connectors. There are a number of fine magnet and other public schools as well as many private schools in our area. Several universities and junior colleges are nearby. Historial places and parks abound. This is a family-friendly city in a setting that boasts mountains and lakes with beautiful scenery during all four seasons.

Come join us!

Getting Started

Buying or selling a home can be one of the most gratifying and important decisions you make in life. For many people, this is their highest priced investment and where they hold most of their assets. It is their "nest," where they and their friends and family laugh and love. It is a place where they can personalize their lives - how much privacy they want, whether they want to be in a rural community or in the city, whether they wish to be in a townhome with a small yard and close neighbors or in a subdivision with larger square footage and room for their children to play.

Since this is an important decision, using a Realtor® will provide a client with the highest level of services, access to MLS for refined searches, and tools to help you sell or buy your home.

There are many components to the successful buying or selling of a home, and people skills and willingness to work hard are important parts of picking the right agent for you. Your time is valuable, and you want it utilized in a way that brings you success whether you are buying or selling.

I have been in the people business for more than 30 years, whether in my jobs as a human resource officer, RN, manager at an insurance company, in community volunteer work, and currently as a Realtor®. I will reach out to you meet your goals whether you wish to buy a home or list a home.

You can find my contact information at: http://www.upwardrealty.com/staff_directory.html.

You will find my website at www.patbranham.com. I hope to hear from you soon.

Pat