Spike in Home Sales

Home buyers signed more sales contracts in August than in any month this year. Much of the boost in home sales came from the approaching deadline of the homebuyers’ tax credit. Many regional housing markets have gained some ground recently as the tax credit for first-time homebuyers stimulated sales of starter homes and condos.

Pending home real estate sales are considered a positive indicator of the health of the housing market. With pending sales the resulting property closings are experienced in October and November. With this trend the housing market gains provides fuel to the recovery of the housing market and general national economy.
As many first-time home buyers rush to beat the deadline for the $8,000 tax credit, which expires at the end of November many home buyers are continuing to have problems obtaining mortgages that may push real estate transactions beyond the November 30th deadline. The rise in pending home sales shows that buyers are returning to the housing market and signing contracts, but deals are not necessarily closing because of long delays related to short sales, and foreclosures.

As many news networks report on the status of the extension of the tax credit for first-time homebuyers, it’s hard to guess whether Congress will extend the tax credit. With any luck buyers and sellers will get a reprieve from Congress with an extension and possibly and expansion to all home buyers. This would be the ultimate boost for the housing industry and an early gift to many home buyers this upcoming holiday season.

posted by Bill Desautels P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: bill@movevermont.com The Desautels Group – Vermont real estate Bill Desautels has been providing advice to buyers and sellers of Vermont real estate for nearly 30 years.

Will Congress Extend the $8,000 Tax Credit Deadline?

Will time run out for home buyers seeking to take advantage of the $8,000 first-time home-buyer tax credit? The Obama administration incentive is set to expire on November 30, 2009 but Congress may extend the incentive into 2010. With the extension there is also talk about raising the tax credit’s upper limit to $15,000 and loosening some of the income limits.

The National Association of Realtors and the National Association of Home Builders are in full support of the extension. Many Realtors and home builders have experienced an increase in home sale activity as a direct result of the tax credit. Vermont home sellers have also found the tax credit an encouraging marketing tool in selling their homes to first time home buyers. The time it takes to sell a home has decreased and with homes selling at a faster pace the value of real estate property has started to stabilize many area markets.

While there are many arguments on both sides of the isle in Congress it’s hard to argue that the $8,000 tax credit has stimulated the housing market. As the Federal Reserve maintains extremely low mortgage rates, another factor that has been an incentive for buyer’s in this transitioning real estate market, ending the $8,000 home buyer tax credit on November 30th will hurt definitely hurt in the short term. I will keep you posted with updates as the deadline approaches.

Check out The Desautels Group Blog for information on the $8,000 tax credit.

posted by Bill Desautels P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: bill@movevermont.com The Desautels Group – Vermont real estate Bill Desautels has been providing advice to buyers and sellers of Vermont real estate for nearly 30 years.

I have just added three more social network sites to my group. Check me out on Bebo, Flickr and Yahoo Profiles

Let the Sun Shine and open those drapes and curtains all the way, so the prospect can see how bright and cheerful your home is.

The $8,000 tax credit from President Obama ends on November 30th. Only 46 days left. Customers are still inquiring about the details.

Certified Distressed Property Expert

Bill Desautels announces a new service and real estate profession designation to better serve buyers and sellers of Vermont residential home real estate.

Earlier this month I wrote a blog regarding my attendance of the RE/MAX of New England International Broker/Owner conference in Chicago, Illinois. At that conference a topic of discussion was the ever increasing need for real estate professionals to have knowledge and expertise for homeowners dealing with potential foreclosure on their real estate property.

A Certified Distressed Property Expert® (CDPE) is a real estate professional with specific understanding of the complex issues confronting the real estate industry, and the foreclosure avoidance options available to homeowners. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today’s market, specifically short sales.

The prospect of foreclosure can be financially and emotionally devastating, and often homeowners proceed without guidance of any kind. The developers of the CDPE Designation believe that the best course of action for a homeowner in distress is to speak with a well-informed, licensed real estate professional. They have the tools needed to help homeowners find the best solution for their situation. Often, when other options have been exhausted, CDPEs can help homeowners avoid foreclosure through the efficient execution of a short sale.

While enduring financial difficulties is challenging for any seller, the process of finding a qualified real estate professional should not be. Bill Desautels is a full service agent with the CDPE Designation. Bill Desautels ensures sellers that they are dealing with a real estate professional trained to address seller’s specific needs. For more information about handling Certified Distressed Properties contact Bill Desautels at The Desautels Group 802-861-6217. Bill doesn’t merely assist in selling your condo property but strives to help serve the specific needs that may be a challenge to the client. I have launched a new web site for you to receive information and updates. For more information go to Avoid Vermont Foreclosure or call Bill Desautels direct at 802-861-6217.

posted by Bill Desautels P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: bill@movevermont.com The Desautels Group – Vermont real estate Bill Desautels has been providing advice to buyers and sellers of Vermont real estate for nearly 30 years.

I pick an Angel card from a bowl each morn, Obedience-Be mindful of your inner knowing, follow your deepest impulse with discipline&decisciveness

What You Show Is What You Get
Faded walls and worn woodwork will reduce the appeal of your home. Why try to tell a prospect how your home could look when you can show them by a reasonable amount of redecoration? A quicker sale at a higher price will result. Invest in paint or wallpaper in the kitchen or bathroom. It will pay dividends for you. Another helpful tip from Bill Desautels, The Condo Guy

First Impressions
Remember, when a prospect comes to look at your house, the first thing they will see is your home’s front door! Make it look fresh and clean. Be sure your lawn and landscaping is well manicured and trim looking. Be sure the yard is free of refuse and leaves. If it has snowed, be certain the ice and snow is removed from walks and steps.
Just a helpful tip from The Condo Guy

First Impressions Are Important when it comes to selling real estate. When a prospect comes to look at your house or condo, the first thing they will see is your home’s front door! Make it look fresh and clean. Be sure your lawn and landscaping is well manicured and trim looking. Be sure the yard is free of refuse and leaves. If it has snowed, be certain the ice and snow is removed from walks and steps.