AN AVERAGE RENTER'S NET WORTH IS $4800. orth is $4,800.

While the average homeowners net worth is $171,000. Right now the government is giving you money to buy a house! Up to $8,000 is federal tax credits for first-time home buyers AND up to $1,800 Georgia tax credit for all buyers.
New home builders are offering fantastic incentives including flooring upgrades, new appliances and discounted financing .

It’s a buyer’s market. I know you’ve heard it before but it’s true, if you are pre-approved you have significant negotiating power. In a few years when the housing market picks back up, the value of the house you buy today at such a low price will rise significantly making your investment very profitable as the switch to a sellers market emerges.

Four Words: Historically low interest-rates. This means lower payments or a bigger house for the same monthly payments. Can it get any better than that?

Possible $15,000 Tax Credit

Will the $8,000 First-Time Home Buyer Tax Credit Expand to $15,000?
June 12, 2009 05:31 PM ET | Luke Mullins | Permanent Link | Print
In an effort to jump-start the ailing housing market, Sen. Johnny Isakson, a Republican from Georgia (and a former real estate professional) has introduced legislation that would beef up the tax credit for first-time home buyers. Under the terms of his bill, which was introduced Wednesday, the size of the credit would expand to a maximum of $15,000 from the previous cap of $8,000, and it could be taken by anyone who buys a primary residence, instead of only by first-time home buyers. The bill would also remove the income limits that had prevented individuals making more than $75,000 a year from claiming the credit, which would be available for a year after the date of the bill's enactment

The Real Estate Market is Stabilizing

According to many reports and RISMEDIA, July 21, 2009—The U.S. housing market continues to show signs of stabilization with a drop in the number of listed homes for the twelfth consecutive month. The number of single family homes and condos listed for sale according to Multiple Listing Date data decreased in June 2009 from May by 2.1%, bringing the total number of active listings in 28 major U.S. markets-

OBAMA WIDENS MORTGAGE REFINANCE PROGRAM

Obama Extends Mortgage Refinancing Program!


With home prices still falling, administration opens up rescue program to homeowners whose loans are 125% of their home's value.

NEW YORK (CNNMoney.com) -- The Obama administration is widening its mortgage refinancing program to allow more borrowers hit hard by falling home prices to take part.

Borrowers whose loans are now worth up to 125% of their home's value are now eligible to refinance their homes under the Obama foreclosure prevention plan announced in February. Previously, the limit was 105%.

The move acknowledges that home prices in many areas have fallen so far that many people were shut out of the program. Some 67% of homeowners in Las Vegas -- one of the hardest hit areas and where Housing Secretary Shaun Donovan announced the expansion Wednesday -- owe more than their homes are worth.

More than one in five borrowers are now underwater, with homes in parts of California and Florida losing more than 50% of their value, according to Zillow.com, a real estate Web site. Some 20 million people own homes worth less than their mortgages.

"The president's Making Home Affordable plan is already helping far more than any previous foreclosure initiative and with today's announcement we will extend its reach still further," said Donovan.

Some 20,000 loans have been refinanced so far, according to the Treasury Department. The initiative waives the requirement that homeowners have at least 20% equity in their home, allowing them to take advantage of today's lower rates. Homeowners must still meet other criteria, including being current on their payments and having loans that are owned or backed by Fannie Mae or Freddie Mac.







"If we can augment our gift giving by giving more of ourselves to those we love, all the time and in various ways, we will have a good chance of helping them and ourselves live happier, better lives"
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