Archive for March, 2010

It’s Time to Spring Into Action

Kathy Riggs March 28th, 2010

After the cruel winter of 2009-2010 nature is springing into action and it is time for buyers to follow suit.
There are three reasons why people who are considering purchasing a new home should spring into action now.
First, is the tax credit eligibility. Buyers MUST be under contract by April 30 to take advantage of the existing tax credit. If you have just entered the real estate market as either a buyer or seller you may not have paid attention to all the noise REALTORS have made about the tax credits. For the past two years Uncle Sam has offered a tax credit to first time homebuyers, and of November 6, 2009, to existing homebuyers. People making first-time home purchases are eligible for up to $8,000 in tax credits and existing homeowners can get up to a $6,500 tax credit if they are under contract by April 30. First time homebuyers are defined as people who have not owned a home in three years. Existing homeowners do not have to sell their home to qualify, just “vacate” it. Act now. There is no guarantee or indication that these credits will be extended. (For more details on the credits scroll down and read some of my earlier posts.
Second, interest rates are historically low. Buyers are now purchasing homes with interest rates in the 4 to 5 percent range. While interest rates will vary depending on credit scores and loan programs, a one percent increase can increase your principal and interest payment by approximately $100 per month, not to mention what will be paid over the lifetime of the loan. You can buy more house when the interest rates are low.
Third, buyers can take advantage of lower housing prices. Major indicators believe housing prices are better now, than in the future. Like politics all real estate markets are “local’. If you live in a community whose future economical conditions looker bright than it does today, you may regret not taking advantage of today’s low prices.
It’s time to spring into action!
…on the lighter side…
Good times, bad times, Agents will be advertising. In good times agents
want to advertise; in bad times they have to.
SHAMELESS PLUGS
Great business opportunity in a quaint location in a downtown area experiencing a spurt of revitalization. Call me at 252-939-2432 or email me at kriggs@kathyriggs.com for more information

The Buyer’s Eye

Kathy Riggs March 21st, 2010

Spring has finally arrived and realty signs will be going up everywhere because spring through early summer is the busiest selling season.
Whether you are putting your house on the market or doing your annual spring clean – walk around your house and look at it from a buyer’s eye. Does the vinyl siding need pressure washing? Is there chipped paint? Does the yard need a day’s work to remove the debris from the winter storms? If your answer to any of these questions is yes, then get busy. As I have said in my posts geared toward sellers, when your home goes on the market, it becomes a product and it must compete. If there is a For Sale sign in your yard, you must take a look at your house objectively and close the door to the emotional connection. Think of it as buying a used car – buyers wants the car to operate as intended for the price they pay. They don’t care if it is the car you drove on your first date. The same with houses, the buyer wants to envision how they fit into the house, not look at a memory book.
So if your house is going on the market prepare it with a “buyer’s eye.” Removing things such as refrigerator art, doctors’s appointment cards and personal pictures will keep distractions to a minimum. Sellers want the buyer to meet the house not the family.
On the Lighter Side…
Note to Landlord: I request your permission to remove my drawers in the kitchen.
SHAMELESS PLUG
I have the perfect property for a trendy or quaint dining establishment just waiting for a new owner. Property is in the middle block of a downtown section undergoing a rebirth. Neighborhing businesses include gift shops, hardware stores, specialty restaurants and a brewery. Call me at 252-939-2432 or email me at kriggs@kathyriggs.com for more information

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