Everyone knows that preparation and information are the keys to success in almost anything. Buying a home is no exception. Aside from getting mentally ready for purchasing a new home, it is important that you are using the services of someone who knows what they are doing. You would not go to court without a lawyer and you would not have a surgery without a doctor. My intent is not to compare my profession to either of these but to show that I breath real estate day in and out and have helped hundreds of people buy and sell homes on the Mississippi Coast.

Information

Information is easy for the most part. I have compiled much information and put it into one spot – here on my blog. While this is an ongoing project, you know that you can readily get the information you need to make semi-informed decisions. It is no substitute for speaking with me personally when you are ready to buy a home, but it a great start so kudos to you for finding me

Preparation

Like a good boy scout or girl scout, you have to be prepared. When you are ready to start your search for your new home, it is imperative that you speak to me so that we can (together) figure out where you want to be, and what price range you are comfortable with. Getting a lender involved at this stage is critical. A mortgage professional will run your credit and debt to income to tell you what you can qualify for and roughly what your payment will be. Then, they can give us a prequalification letter, or better yet a pre-approval, so that when we find your perfect home, we will be in a stronger position to negotiate. When you put in an offer on a home, the stronger you are on paper, the more likely the seller will make concessions.

Benefits of using a Buyer’s Agent (me)

1. I am very familiar with the market. Aside from running basic numbers on an area, I am very active in the market and can tell you areas that are likely to appreciate (or depreciate) in value. The last thing you want to do is buy a home and have the value depreciate rapidly because there is a new, low-income rental area being built down the road.
2. I will represent your interests. As your buyer’s agent, I will do my best to get you the best price and terms on a home. Sellers have their agents representing their interests – shouldn’t you have the same? As a buyer’s agent, I work on a fee that is predetermined through the listing agent. In occasions such as dealing with For Sale By Owner homes, I can negotiate my fee directly to the seller so you do not have to pay me, and still I represent you. I save my buyer clients a lot of money and a lot of headaches.
3. A good buyer’s agent will have the contacts to help you through the buying process. A good lender, appraisers, inspectors, etc. By using referrals from me, it will ensure a more streamlined process and help you close on time.
4. My experience will help guide you through unexpected issues. All transactions are different and each have their own unique issues. Having someone like myself that has the experience and ability to help you make decisions based on that experience is probably reason enough.

Buying a home is a great investment in your future when done correctly. Do it wrong and it could be a nightmare. Choosing the right agent is imperative in the amount you pay and the headaches you deal with. You will make us both happy if you contact me when you are ready to buy your next home.

The refundable tax credit enacted for the 2009 tax season will allow first time home buyers, or buyers who are considered first time home buyers (have not owned a home in 3 years) to claim a credit up to $8,000 on their taxes. If you are getting money back on your taxes, you will get even more. If you would normally pay, this will offset your tax liability.

The tax credit was enacted to help get rid of existing inventory in the housing market and is a change to the existing $7500 tax credit. The previous tax credit was in the form of a forgivable loan – the new $8,000 credit does not have to be paid back.

In order to qualify for the credit, you simply have to buy a “first” home in 2008, make less than $75,000 (or $150,000 married filing jointly), and talk to your tax preparer. If you have special circumstance which apply to you or are subject to withholding, you may want to talk with your accountant on how this tax credit can benefit you.

In order to fully qualify and avoid recapturing the tax credit, you must move into the property (and own it) prior to December 1, 2009 and must maintain it as your primary residence for at least 3 years. Special circumstances are allowed for the 3 year occupancy but it is best to plan for 3 years of occupancy.

Table Below provided from information by the National Association of Realtors®