$8,000 Dollar Tax Credit? To me it is interesting that the Government is offering 1st time home buyers $8,000 if they will buy a home before December 1, 2009. What’s interesting is that most of people that qualify are not taking advantage of this! I live in the Boise Idaho area, and Idaho has the Idaho Housing and Finance Association, better known for the loans that IdaMortgage makes and can be found at IdaMortgage.Com. IdaMortgage is there to assist people in financing their home. IdaMortgage will allow you to borrow up to $7,000 of the $8,000 Tax Credit and you have to pay the $7,000 off when you get the $8,000 dollars back when you file your taxes. What I don’t understand is that you would have to put 3 ½ % down on a home and the $7,000 loan works for that. Here’s an example of how this could work. I know where there’s a subdivision in Meridian Idaho that has 1230 square foot New homes listed for $146,900. You need 3 ½% for the down payment. $146,900 X 3 ½% = $5,141.50, so the $7,000 you got from IdaMortgage took care of the down payment and leaves you $1,858.50 of the $7,000 to use for your closing cost! So you say, how much are the closing cost? Well, there’s a lot of builders out there that would be glad to contribute a couple thousand toward your closing cost to get one of their houses sold right now so, if you talk the builder into contributing $2,000 and you have $1,858 of the $7,000 left it adds up to $3,858 dollars you have for closing which in this case should pretty much pay all your closing cost. Of course, I’m not an account, attorney, or lender and I’d advise you talk with yours before making a discussion, but you could theoretically buy a house with little or no money out of your own pocket with this tax credit and a good REATOR© and lender representing you to structure the transaction. Even better is that IdaMortgage is offering 5.150% interest loans on their website right now!

Here’s what it takes to qualify for IdaMortgage’s Down Payment and Closing Cost Assistance Program.
Tax Credit 2nd Loan
-           Must be a first-time homebuyer.
-           Must have a FICO score of no less than 640, and a total debt ratio of no more than 45%.
-           Homebuyer qualifies for an IdaMortgage loan.
-           The loan will accrue interest at 3.0% with a due date of July 1, 2010.
-           Loan offered in the amount not to exceed 5% of the sales price or $7,000.
-           Homebuyer Education is required.

Visit IdaMortgage today and when you’re qualified or have any questions call Tom 208-861-2344
(I don’t know if all states have similar programs available so check with your local REALTORs© and Lenders for more information.)

My Listings	Meridian Id Home Search	Office Listings
	Tom Zumwalt, e-Pro Realtor Licensed in Idaho Cell: 208-861-2344 E-Mail Tom
		SilverCreek Realty 254 S Cole Rd Boise, Id 83709 208-377-0422
		Home

Before a home owner curses the troubled housing market, he or she should take solace in the U.S. tax code, which makes buying a home a good deal for almost everyone.

Here’s why:

Mortgage interest deductions, including in some cases mortgage insurance premiums, reduce home owners’ tax liability by reducing income. The deduction includes interest paid on both a first and a second home.

Interest on home equity loans is also deductible — whether the borrower uses the money to remodel the kitchen or to take a vacation to Disney World.

Profits from selling a house are potentially a huge windfall. When a home owner sells a primary residence, any profit on the sale of the property is tax free up to $250,000 for single home owners and $500,000 for married home owners filing. Any profit above that is nearly always a long-term capital gain taxed at 15 percent — less if the seller’s tax rate is less than 20 percent.

Home owners can itemize. That opens up opportunities to deduct a host of other items that wouldn’t be deductible if the taxpayer took the standard deduction.

Source: The Boston Globe, Leonard Wiener (03/02/08)

Copyright National Association of REALTORS®, Reprinted with permission.
My Listings	Meridian Id Home Search	Office Listings
	Tom Zumwalt, e-Pro Realtor Licensed in Idaho Cell: 208-861-2344 E-Mail Tom
		SilverCreek Realty 254 S Cole Rd Boise, Id 83709 208-377-0422
		Home

Houses for sale in the foreclosure market have increased by 80% since the year 2005, at present the real estate and property market is also in a crisis. Much like many other financial markets! This makes it simpler than ever for home buyers and investors to purchase houses for sale in the foreclosure market. It does not take and experienced investor to take advantage of the present buyers market, there are a glut of foreclosure houses for sale presently. Both governments owned, and lender or bank owned.

There are three methods we are discussing the purchase of foreclosure houses for sale in pre-foreclosure phase. It is a process more difficult and the investor must really do their homework. It means finding the places where the houses for sale in pre-foreclosure are trying to negotiate with a landlord, what links are on the property, inspecting premises, and calculate all costs in order to and provide to the lender and the bond holders and the owner. The owner may negotiate a sale with their lender during this phase, and if they did, to find a buyer would be to their advantage. By running an ad that reads "Properties acquired values" may be a way of attracting future pre-lock owners to your opinion.

The second method is the foreclosure of the mortgage whose auction houses go. Many are purchased by the lender and become their property, many are bought by investors. Buy houses for sale during the auction phase also required the same amount of preparation for the purchase of the pre-entered.

The third method is to purchase houses for sale that they were closed and the auction and property of the bank. This method is easier to buy houses for sale in this market, like all preparation has been done for you. It is also less risky, especially for a new investor, and some bargains in this market can be found.

Whatever method you want to buy houses for sale in the foreclosure market preparation, research and education are key to success. Do your homework and find everything you can with regard to the property and you just might find a nice house on the hands.

About the Author:
Mark Zagorski is founder of the zaglist a real estate listings website that provide the info of houses for sale and for rent, apartments for sale and for rent and townhouses for sale and for rent.

My Listings	Meridian Id Home Search	Office Listings
	Tom Zumwalt, e-Pro Realtor Licensed in Idaho Cell: 208-861-2344 E-Mail Tom
		SilverCreek Realty 254 S Cole Rd Boise, Id 83709 208-377-0422
		Home

Riding the 2nd Wave of Foreclosures by LeeGraham

Driving South on Interstate 75 in Marietta, GA everyone on their way to work looks up to see the big realty company sign that tells how many listings are on the market, waiting to be sold. The numbers have finally made it back in the 70,000 range which is what we used to call “normal” when referring to the then thriving Georgia Market. We may be tempted to give a sigh of relief that things are finally returning to “normal,” but the numbers portray a false security.
May’s foreclosure statistics reported the third largest number in history of U.S. properties with foreclosure activity. Although the number was down 6% from April, still 321,480 homes showed filings for foreclosure, notices of default, or were marked for auction and repossession. May also was the third straight month of national foreclosures exceeding the 300,000 homes mark. According to a report put out recently by RealtyTrac®, 1 in every 398 U.S. homes received a foreclosure filing in May. Georgia is currently ranked 7th in properties with foreclosure filings. In Georgia, 1 in every 377 homes is involved in foreclosure activity, a figure slightly under the national average.
Though there may seem to be signs of less homes on the market, and thus the return of a healthy, more stable real estate economy – the problem lies in the reality of a flood of foreclosures that has been dammed up by various state regulations and the Obama administration’s requests in the form of an imposed moratorium since October 31, 2008. That moratorium was lifted March 31st, and now banks and mortgage companies are aggressively engaging their previous process and policies of foreclosure regarding delinquent homeowners. We haven’t seen the effects of the flood yet because evictions and notices take time. But be assured, it’s coming. RealtyTrac’s executive officer James Saccacio stated this month “We expect REO activity to spike in the coming months as foreclosure delays and moratoria implemented by various state laws come to an end.”
Many people have been living in their homes for 6 months to a year without making payments, and without so much as a peep from their mortgage company. Many lenders had slowed or stopped their foreclosing on borrowers waiting for clarification on Obama’s housing-rescue plan introduced in February, and the possible incentives accompanying it. Other mortgage companies delayed foreclosures simply trying to deal with and strengthen their own programs to withstand the onslaught of the first wave and to comply with the changes in state laws. But now with the moratorium lifted, the dam has begun to crack, and the force of the waters behind it is great – and these guests who have overstayed their welcome are being told to pack their bags — quickly.
The effects of this 2nd wave of foreclosures on the real estate industry and the economy at large are uncertain. Some experts expect more than 2 million homes to be foreclosed on in 2009 and that this flood of properties may cause further decline in home prices of up to 20%. So, I guess it’s fair to say we’re not out of the woods yet. At the same time though, it’s not all doom and gloom. With the second wave of foreclosures on the way, the agents who have survived through grit and professional determination, savvy investors, and homebuyers have a chance to ride the wave — this time with more experience, more opportunity, and potentially more incentives than ever before. I have hope that, although the real estate industry led the way in getting us into this mess, it will also lead us the way out.

Lee Graham is an Associate Broker and owner of The Graham Group, a premier team of real estate professionals specializing in Atlanta Real Estate. Their areas of expertise include Residential, Foreclosures, and Short-Sales. View more information at www.AtlantaGroupRealEstate.com.

Article Source: http://www.articlesnatch.com

My Listings	Meridian Id Home Search	Office Listings
	Tom Zumwalt, e-Pro Realtor Licensed in Idaho Cell: 208-861-2344 E-Mail Tom
		SilverCreek Realty 254 S Cole Rd Boise, Id 83709 208-377-0422
		Home

March 25, 2009. Boise rated #9 by Forbes Magazine for Best Places For Business And Careers. Forbes.com says Boise is the ninth best place among 200 largest metropolitan areas in the country for business and careers. Forbes rated cities based on 11 criteria. They include job growth over time, labor supply, crime rates, and local colleges. Forbes also included two new statistics to its annual survey: job projections and the ratio of subprime mortgages to loan originations for the last three years. Boise ranked in 17th place as the lowest cost of doing business and the in the country and 47th best projected job growth at 0.5 percent. Forbes found nearly 17 percent of mortgages written between 2005 and 2007 fell into the sub-prime category compared to Huston TX at 22.7%, Baton Rouge LA at 21.5%, and Chicago IL at 22.7%. Overall, Boise has a bright future and will continue to grow.

My Listings	Meridian Id Home Search	Office Listings
	Tom Zumwalt, e-Pro Realtor Licensed in Idaho Cell: 208-861-2344 E-Mail Tom
		SilverCreek Realty 254 S Cole Rd Boise, Id 83709 208-377-0422
		Home

Do consumers follow brands and not agents? I’ve been surveying my clients at closing as to why they used me as their real estate agent. I got some interesting answers! Some of my clients said they called me because of past business, some found me on the internet, and some were referred by friends, family, or past clients. The biggest surprise comes when you ask if they know what brokerage I work for? Most of them get a strange look on their face and say no. Some search madly in their wallet or purse for my card, but not one person could tell me off the top of their head who I worked for! At that point I would reassure them that not knowing who I worked for was the correct answer. Most of my business comes from the internet and a lot from out of state. The discussion continues as to how they found me on the internet, why they used my website, and eventually called me. They tell me they did a search on one of the major search engine for real estate or homes in our area and found my website, saw the flashing home search button, clicked on it, and started searching for homes in the Meridian Id area. I’m told the home search is easy to use, you can save listings, and find out more information about listings than on other sites. I’ve even been told that they might find a listing on another site but return to my website to research the listing because there’s more information about the listing on my website. They tell me they bookmark my website so they can return and continue to us it and when they find a home they would like to look at they either email me or call me to set up an appointment. And remember, all this time they haven’t even paid any attention to what company I worked for, all they were interested in was getting provided the service they were looking for! That service was being able to search for homes and not be bothered. You see when you click that flashing home search button, it does not ask for your name, email, telephone number, address, first born, or anything, it just allows you to search for homes in the Meridian Id area! As far as I’m concerned, my websites are a service to the people and if I provide them the service they are looking for they will keep coming back to that website and eventually email or call me to show them homes. Being a real estate agent is a service business, agents are here to serve you the client, not to treat you like some kind of unconvinced to tolerate!

So, what I’ve found out is that the consumers out there don’t care if I work for some Big Box Company, they don’t care what the name of the compay is that I work for, but what they care about is being provided the service they are looking for and being treat with courtesy. Today there is a move going on toward more virtual offices and less brick and morter office. The internet real estate agent working from a home office is the future. The old idea of the bigger franchised offices is slipping away to smaller brick and morter offices with agent working from home communicating with clients by phone, email, and emailing documents to clients, lenders, and title companies. The Future Of Real Estate Is The Internet! I hope our paths cross if you are searching for a home in the Nama Id area!

Thanks! Have A Teriffic Day!

Tom Zumwalt, ePro Realtor©

My Listings	Meridian Id Home Search	Office Listings
	Tom Zumwalt, e-Pro Realtor Licensed in Idaho Cell: 208-861-2344 E-Mail Tom
		SilverCreek Realty 254 S Cole Rd Boise, Id 83709 208-377-0422
		Home

Washington, January 20, 2009

The following is a statement by National Association of Realtors® President Charles McMillan:

“Today is truly an historic day for our country. On behalf of NAR’s 1.2 million Realtors®, we welcome the new president and his administration, and pledge to work with him to stabilize the U.S. housing market and set the economy on the road to recovery.

“President Obama has pledged to work with Congress to immediately implement aggressive policies to decrease the number of preventable foreclosures by helping to reduce mortgage payments for responsible homeowners. We welcome President Obama’s efforts on foreclosure prevention and agree that addressing rising foreclosures and strengthening existing home sales and housing initiatives are critical components to a housing and economic recovery.

“NAR will also continue to focus on policies that will help bring buyers back to the market to reduce inventory and stabilize home prices. This is the only way to successfully improve and sustain the housing market and the nation’s economy.

“The president has a tough job ahead of him with many hurdles. NAR looks forward to working with President Obama and his team, and to quickly move forward with meaningful legislation and policies to help make homeownership once again a part of the great American dream.”

Copyright National Association of REALTORS®, Reprinted with permission.

My Listings	Meridian Id Home Search	Office Listings
	Tom Zumwalt, e-Pro Realtor Licensed in Idaho Cell: 208-861-2344 E-Mail Tom
		SilverCreek Realty 254 S Cole Rd Boise, Id 83709 208-377-0422
		Home

Washington, January 16, 2009

While the National Association of Realtors® is pleased that Congress and the incoming Obama administration are working to ensure that any additional Troubled Asset Relief Program initiatives or economic stimulus package include provisions to stimulate home sales, prevent foreclosures and restore confidence in the housing market, NAR will continue its push for a comprehensive housing strategy.

“The housing sector is at the core of the current economic crisis,” NAR President Charles McMillan said. “A renewed, revitalized and robust housing market is essential to generating commerce and helping families build wealth and stability. We are eager to see this happen and look forward to working with the Obama administration and Congress to quickly implement housing stimulus efforts.”

NAR expressed support for Chairman Barney Frank’s, D-Mass., proposal, H.R. 384, the TARP Reform and Accountability Act, introduced last week. This bill contains key components of NAR’s Housing Stimulus Plan, including enacting a mortgage buy-down program to reduce interest rates below prevailing rates, increasing foreclosure prevention and mitigation efforts, and providing needed liquidity to the residential and commercial mortgage markets to ensure that financing is available. “We also applaud the chairman’s efforts to strengthen accountability and increase transparency in the use of TARP funds,” McMillan said.

NAR has pushed to refocus the TARP to end the credit crisis and jumpstart mortgage lending. “It is imperative to get TARP back on track by targeting funds for mortgage relief, which will help lower mortgage rates and reduce foreclosures,” said McMillan.

Even if H.R. 384 is not enacted, it will provide the Obama administration with a clear statement of congressional intent as Congress moves forward to implement the second half of the TARP. NAR has and will continue to advocate NAR’s positions to the new administration and regulatory agencies.

Realtors® pledged to work with Congress and the administration to pass an economic stimulus plan that is expected to include many components championed by NAR to improve housing. “We are pleased that eliminating the repayment feature of the first-time home buyer $7,500 tax credit will be addressed in this proposal. However, we still are working to have the credit expanded to all home buyers, and to extend the program through December 31, 2009. NAR is also working to ensure that any stimulus legislation reinstates the higher 2008 mortgage loan limits for FHA, Fannie Mae and Freddie Mac. These actions will have a meaningful impact on the housing market and will help protect home values,” McMillan said.

NAR’s Housing Stimulus Plan includes both legislative and regulatory fixes. Its focus includes keeping mortgage interest rates low, boosting home buyer confidence, and reducing the current foreclosure rate. It also asks that regulators be encouraged to help financial institutions resolve problems in the short-sale process, make it easier for servicers to modify existing loans, remove unreasonable underwriting guidelines and insist that credit reporting agencies correct errors promptly.

“We must all work together to stimulate and unclog the housing and financial system. Low interest rates, tax credits and higher loan limits will be effective only if people can get a loan. We hear every day from our members that even home buyers with good credit are having trouble getting mortgage loans. This must be corrected,” said McMillan.

NAR expressed hope that the new administration will keeps its focus on a housing recovery as it moves forward with a larger stimulus package.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

Copyright National Association of REALTORS®, Reprinted with permission.

My Listings	Meridian Id Home Search	Office Listings
	Tom Zumwalt, e-Pro Realtor Licensed in Idaho Cell: 208-861-2344 E-Mail Tom
		SilverCreek Realty 254 S Cole Rd Boise, Id 83709 208-377-0422
		Home

WASHINGTON, January 09, 2009

The importance of the Federal Housing Administration’s role in the economic and housing recovery has never been more apparent, and the National Association of Realtors® reinforced this message in testimony submitted to Congress today.

“FHA insurance is one of the primary sources of mortgage financing available to families today,” said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “FHA has been playing a larger role in the mortgage market since the mortgage market meltdown and tightening of credit, and we’re asking Congress to work with the new administration to appropriately fund the staffing and infrastructure needed to complete FHA modernization.”

In the testimony, NAR also expressed concern that FHA could not continue to serve its constituency without rapidly implementing quality and system initiatives.

FHA’s market share has increased from a low of 2 percent in 2006 and is expected to grow to over 30 percent in 2009. FHA loans are rapidly becoming the only source of funding for many consumers, particularly those who are first-time home buyers and borrowers with low downpayments or less than perfect credit.

Even with appropriate funding and staffing, FHA will be challenged to keep pace with the increased business and additional responsibilities under the Housing and Economic Recovery Act.

“Although many improvements have been made, more needs to be done to keep pace with demand and dispel concerns that FHA may become the ‘dumping ground’ for subprime loans and high-risk borrowers,” said McMillan. “A vital and well-funded FHA will benefit everyone.

Copyright National Association of REALTORS®, Reprinted with permission.

My Listings	Meridian Id Home Search	Office Listings
	Tom Zumwalt, e-Pro Realtor Licensed in Idaho Cell: 208-861-2344 E-Mail Tom
		SilverCreek Realty 254 S Cole Rd Boise, Id 83709 208-377-0422
		Home

For a quite some time the idea of a national multiple listing service been has been around, but lately there has been a lot of discussion about it.
The CEO and president, David Charron, of the Metropolitan Regional Information Systems, the largest MLS in the United State, that serves around 55,000 real estate agents and brokerages was cited as saying he thought that it was only the political constraints and the human constraints that was keep a national multiple listing service from being reality.
I see that sometime in the future our Meridian Id MLS will be combined with other MLS services around the country and we will have a national service with listings from all over the United States. Some Meridian Real Estate Agents and Brokerages seem to be worried about losing control of their listings, but right now their listings are being displayed on websites not only in the United States, but sites that reach people worldwide.
You can search for Meridian Homes anywhere in the world using the home search right here on Meridian Id Homes For Sale dot Com! So, the next obvious step in the growth of our MLS service would be to combine with other MLS services around the country to form a national MLS. I’ll keep you informed as to the progress in the future

My Listings	Meridian Id Home Search	Office Listings
	Tom Zumwalt, e-Pro Realtor Licensed in Idaho Cell: 208-861-2344 E-Mail Tom
		SilverCreek Realty 254 S Cole Rd Boise, Id 83709 208-377-0422
		Home