Fear….

It’s amazing how crippling fear could be, and how “fear” could be the underlying motive driving our decisions.

I have a client who has viewed many (I think we’re up to 20) homes, and today I just realized why we do not have one under contract. FEAR.

I have shown everything on the “wish list”, intown- out of town, up and down, pools, facing North… flats.- You name it, and we have come -THIS- close to making offers…until we have a 3rd tour  of the  home. Right before signing on the dotted line, she finds something wrong, something unchangeable (the flow of the walls) to convince herself  “this is not my home”.

How do I help her overcome this? It’s funny, because I have lived in MANY homes-i would never have thought (from initial inspection) that they were “MY” home. It wasn’t until I put my stamp, MY love-and MY life in it that it transformed into MY home…but there is nothing I can say about the feng shui of a wall…

Just when you think being a Real Estate agent is only opening doors and wearing cute shoes…I must use some phycology and find out our stumbling block or we are just wasting time and turning down a lot of great homes!

Westview, West End Realtor

Nia Knowles

Certified Short Sale & Foreclosure Specialist

AREA West Realty Group
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Tax Credit Extension Seems Likely

It seems likely that the U.S. Senate will approve a deal to extend the First-Time Homebuyer Tax Credit, but the devil is in the details.

Florida Democrat Sen. Bill Nelson told reporters traveling to Florida with President Obama on Monday that he thought that the extension would be approved, but both senators and representatives are among those who think that there should be some fiscal offset for the cost of the extension. Spending any more money on the stimulus effort also could stir up a hornets’ nest in some circles.

The proposal in the Senate that appears to have the most likelihood of passage would extend the $8,000 credit through March 31, then its value would drop by $2,000 for each of the subsequent three quarters of 2010. This plan was offered by Senate Majority Leader Harry Reid of Nevada and Senate Finance Committee Chairman Max Baucus, a Montana Democrat.

 Source: Associated Press, Andrew Taylor (10/26/2009) and The Wall Street Journal, John D. McKinnon (10/27/2009)

7 Tips for First-Time Home Buyers

Here are seven bits of wisdom from economists and financial planners for anyone contemplating a home purchase today:

  • Old-fashioned basics are more important than ever. The safest way to purchase a home is to put down 20 percent on a fixed-rate, 30-year (or less) mortgage.
  • Don’t become overconfident about income growth. Even though buyers in their 20s and 30s will likely see their incomes grow more quickly than previous generations, it is important to act sensibly when borrowing.
  • Anyone contemplating adding children to the family should calculate whether they could live on one income because having both halves of a couple work may turn out to be impractical.
  • Include a maintenance budget. Even new homes need upkeep and repairs.
  • Buyers who can’t afford their dream home now should opt for a starter home where they can save money each month for what they really want.
  • Consider a property that can be expanded and improved down the road when money is available.
  • No two buyers are the same, but they should all feel confident with the loan they enter into, no matter the size of the mortgage.

Source: The New York Times, Ron Lieber (09/2009)

Fidelity Mortgage offers JOB LOSS PROTECTION

I received great news this weekend;  Fidelity Mortgage is offering Job Loss Protection! This is a wonderful option to ease the fears of many first time home buyers afraid to take the plunge due to the uncertainty of the economy. Here are some details of the program:

JOB LOSS PROTECTION

We are now offering a program that pays a buyer’s house payments in case of a job loss. If a borrower loses his/her job within the first two years of ownership his/her payments will be paid for up to six months.

Ron Draluck, Mortgage Planner

Fidelity Mortgage

Office: (770) 350-9338

Fax: (404) 393-9945

rdraluck@mindspring.com