Tom Laskey Real Estate

Many Affordable Options Exist for First-Time Homebuyers

Over the last several weeks and months, one thing that has been somewhat disconcerting is that many potential first-time homebuyers think that because of the economic times and the fact that there aren't as many loan programs available that there is no way they can possibly buy a home.  I would like to dispel that myth, because while lending has changed so have a number of other things in the market place.

• Home prices are at a low like we haven't seen in many years and therefore the buyer has a lot of options in most price-points.
• Until this year there has never been something like the $8,000 first time homebuyers tax credit, which barring just a few conditions is pretty much free money.

• With sellers anxious to sell and having to compete for the buyer they are often willing to help pay for or entirely pay for the buyer's closing costs, leaving the $8,000 to go toward down payment.

• Interest rates are at an all time low, that wasn't even thought possible as short as 6 months ago!

All of these are great reasons to think about buying a home if you're renting today or just have never thought it possible.  Check out my listings at www.laskeyhomes.com for many affordable first time homebuyer options and of course I can help you with other options in the Middle Tennessee (Nashville) area!

May 2009 "The Laskey Difference" Newsletter - Read it Here!

 

This Month's Newsletter can be read here!

What is the Value of a Real Estate Agent Representing You?

As hard as it is to believe, there are still a lot of "do-it-your-selfers" trying to either buy or sell their own real estate.  While obtaining necessary paperwork for a transaction is not difficult to do, there are so many other details that you need to consider, besides just paperwork. 

In the mortgage climate that we find ourselves in, it's imperative that a lender is working not just at 50-60% for you but 100-120%.  Most people don't have the day to day experience with dealing with lenders and staying abreast of who is giving excellent, professional, service.  A professional real estate agent does.

If you are a buyer or seller a home inspection report can be overwhelming, and yet it is something that real estate professionals work with every day. 

In terms of negotiating, it has been shown that a 3rd party negotiator is better at obtaining what the party they're representing wants in a transaction.  That could potentially mean thousands of dollars, let alone stress that is saved or avoided.  Real estate professionals are always honing their skills at negotiating effectively for a client.

Finally, in the housing environment we find ourselves in today, pricing expertise is also key to getting a house sold or making an offer that is based on something other than just throwing a dart at a dart board.  If there was a For Sale By Owner home that was overpriced $20,000 and you decided as an unrepresented buyer to offer $10,000 less than what the asking price was you would still be paying too much; although, you might feel like you got a good deal because you got it for less than "list" price.  However, if you would have been working with a Real Estate Pricing Expert, you would have soon discovered that the good deal wasn't going to begin to take place until the price went down at least $20,000.

Don't take a risk on the biggest investment that you are likely to make by deciding to "play real estate agent", it could be a risk that could change your financial future permanently.  Trust that role to a real estate professional. 

Call me at 615-370-8669 if you would like to find out more about pricing your home correctly or finding a home to purchase.  I will put my professional skills to work for you!

Can Color Cost You a Sale?

My Dining Room's Red, My Kitchen is Blue

Evr'y Buyer Coming Through, Just Exclaims "eww"!

Is that your story?  With so many homes on the market in the Nashville area and even more specifically, in your own neighborhood in Williamson, Davidson, Wilson, or Rutherford county, it is vitally important  when the time comes to sell, that your home is "parade ready"!  Just as there's a grandstand on a parade route where floats, bands, and other participants have one shot at being judged as best float, best marching band, etc, your home also lies on a parade route of buyers ready to judge your home to see if they think it's a winner and worthy of making it their own.  Therefore, it is vitally important that it stands out for all the right reasons and not for the wrong ones. 

Color is one of those ingredients that needs to welcome the buyer into your home and not turn them around at the front door to head back to their car.  As tempting as it may be to say "it's just paint" and assume that the buyer will have the same attitude, "it's just paint" often translates in the buyer's mind as "it's several weekends, spent on a ladder, the house in disarray while furniture is pulled out of rooms or away from the walls, and to have it done would cost an arm and a leg. Let's find a house we can just move into and not have to think about painting it right away, after all there's plenty on the market!"

So, before you say those dreaded three words, "it's just paint", take a look here to find out more about how to make colors work for you, rather than hinder you in getting your house sold!

New Rules for the New Tax Credit

It's official. President Obama has signed a new $8,000 First Time Homebuyer Tax Credit into law.* If you haven't owned a home in 3 years — or never at all — this can guarantee you $8,000 off your taxes. Here's what you need to know about this historic move:

Limited Time Offer With Few Limitations

You must close on a new home no later than November 30, 2009, and make $150,000 or less if filing as a couple ($75,000 or less if filing single). The credit has to be repaid over time if you sell the home within 3 years of closing. Other than that, qualify for a loan and the full $8,000 credit is yours.

$8,000 Guaranteed No Matter What You Owe

A tax credit directly reduces the taxes you owe for the entire year, including what you’ve paid in. Under the new law you're guaranteed $8,000 off your taxes. If, for example, you’ve paid $6,000 and owe nothing else, you’d get an $8,000 tax refund. If you owe more, you're still guaranteed $8,000 credited against that.

You Could Claim The Credit For 2008

The tax credit applies in the year it's claimed. Close on a new home before you file your 2008 taxes, and you can claim it on your 2008 return. Or, you can choose to claim it for 2009.

Click to learn more: Federal Housing Tax Credit


Call Cherith Hibbs at 615-476-3600 with Farmington Financial Group for more information!