A $7500 “Gift”

Among the programs already instituted by the federal government to help the national housing slump is the $7500 tax credit available to first time homebuyers. Designed to encourage activity at the base level of the housing market, this program is available not just to anymore buying their first home, but also to anyone who has not owned a home for the past three years. There are income limits of $150,000 on a joint return, but a large number of people are eligible.

Buyers who qualify can receive an immediate $7500 as a credit against their 2008 taxes. The $7500 can be used for any purpose including down payment, closing cost, home improvements, etc. As the program now stands, buyers are required to repay the $7500 credit at the rate of $500 per year for 15 years. However, the mortgage interest deduction should more than offset the additional taxes.

If you know of anyone who has not owned a home for at least three years and would like to take advantage of this tremendous opportunity, have them contact me at slaunchbaugh@cbtulsa.com as soon as possible. With the high cost of rent, the current low mortgage rates, the affordability of homes in this market, and this $7500 “GIFT”, it just makes sense for those eligible to buy a home.

Behind The Headlines

On November 19, 2008, the Tulsa World ran an article on the front page which had the heading “Expert: Slowdown to hit Tulsa harder”. After reading the first two paragraphs of the article, a reader would probably believe the Tulsa area is heading toward economic collapse.
Yet, if one continued to read further and studied the statistics table accompanying the article, it was clear the economic outlook for this area during next year is forecast to be quite good. While the rate of growth was forecast to slow slightly in most major categories, only one indicator, Nonfarm employment growth, was expected to decline and that by only .1%.
If you have questions about our current housing market, please do not rely on headlines from the media. Check the statistics or contact me at slaunchbaugh@cbtulsa.com.

Real Estate Services Anywhere

As part of the Coldwell Banker family, we are members of one of the largest real estate referral networks in the world. This means we can provide high quality, professional real estate services anywhere in the country. If you know someone who wants to buy or sell a home in another city in the U.S. or Canada and would like to work with a trained, professional Realtor they can depend on, contact Sarah at slaunchbaugh@cbtulsa.com, I will put them in touch with a qualified member of our network in their city. There is no charge to you or the customer for this service.

Who Do You Turn To?

For most people their home represents their largest financial investment as well as one of their most emotional decisions. It just makes sense to turn to someone who is a full time professional and knows the area to handle a home transaction. Yet, many home buyers and sellers will rely on a part-time, untrained and in- experienced Realtor to guide them through the sales process.
At Coldwell Banker Select Realtors, I receive on-going, comprehensive training. I am supported by a management staff with many years of experience in residential sales.

If you are thinking of moving, contact Sarah for the best in professional real estates services.

For more information contact me at slaunchbaugh@cbtulsa.com