Jim Carey

Change the Clocks!

2010-03-11T21:15:00Z

Don't forget to turn your clocks ahead this weekend. With the winter that we have had nationally, that will be a great feeling!

Also, only 50 days left to qualify for the tax credits by having a signed agreement by April 30th. Let me know if I can help with that!

Snow storms slow the market

2010-03-04T20:03:00Z

Here on the East Coast we have been hit by 3 major blizzards in as many weeks. That has had an obvious effect on buyer traffic and many listings haven't had any showings during that time. But better weather is on the horizon - 52 degrees on Sunday and Monday coming up- and the clock change on the 14th will encourage more buyers to look at homes during the week. I'm ready for golf!

FHA Loan Changes

2010-02-25T14:48:00Z

There have been several recent changes in FHA loans, such as reducing the amount of seller assist that a buyer can get from 6% of the sale price to 3%. For information on other changes, please contact me.

April 30th is close!

2010-02-18T20:45:00Z

If you plan to take advantage of the $8000 first time buyer or $6500 current homeowner tax credits, you must have a completely executed agreement of sale by April 30th and have until June 30th to go to settlement.

Please let me know if you have any questions regarding the credits or other real estate matters.

Changes In FHA Loans

2010-02-11T15:44:00Z

There have been several recent changes in FHA loan requirements:

Mortgage insurance has been increased from 1.75% to 2.25%. This will not have a huge effect since it is over the life of the loan.

Downpayment required: 3.5% with a credit score above 580, 10% with a credit score below 580

Seller assist: maximum of 3% of sale price vs. previous 6%

Great time to buy, Bad time to sell

2010-02-03T18:05:00Z

Homeowners are not putting their house on the market unless they have to - home values are low and buyers are going to try to get them lower. But there has never been a better time to buy if you are a first time buyer. Low prices, low mortgage rates, sellers desperate for an offer and - an $8,000 tax credit.

Townhouse for Sale

2010-01-27T15:35:00Z

Townhouse for sale in Marsh Harbour for $259,900. See my home page for pictures and more details. Located in the Downingtown School District, near the Village of Eagle and Marsh Creek Park. Great value in a desireable developement. Very close to Pennsylvania Turnpike and Exton shopping.

Tax Credit

2010-01-14T15:50:00Z

The tax credits for first time home buyers and current homeowners will expire on April 30th. It is important to get pre-approved for a mortgage so that you are ready to show a seller that your are qualified. It also lets you know how much home you can afford and what your monthly payments will be.

Please contact me ASAP if you plan to buy a home and get the tax credit.

Happy New Year!

2009-12-30T20:26:00Z

I hope you and your family have a Happy, Healthy and Prosperous New Year! Remember that the tax credits for First Time Buyers and current homeowners require that you be under contract by April 30th and settle by June 30th. There should be an increase in listings after the first of the year as current homeowners put their home on the market in an attempt to get the tax credit. Most of these will be condos and townhouses that owners want to sell in order to move up to a single family home.

Four Months Left

2009-12-16T14:20:00Z

The tax credits for first time buyers and current homeowners, $8,000 and $6,500 respectively, require that you be under contract by April 30th and go to settlement by June 30th. Please contact me if you plan to take advantage of either of these programs so that I can help you get started with the process.

Perfect Storm

2009-12-07T19:04:00Z

For first time home buyers, there has never been a better time to buy. Right now, every single factor that can be helpful in getting a "good deal" are in place.

- mortgage rates are at an all time low, staying between 4.6% and 4.85%

- lots of homes have been reduced in price so that we are at 2003 prices

- sellers are desperate to make a deal since there home has been on the market a long time and they are feeling pressure

- last but not least, there is an $8,000 tax credit available until April 30th (must be under contract by then, have until June 30th to settle

Foreclosures

2009-12-02T20:33:00Z

If you are interested in foreclosed properties, you can now search for them on ReMax.com. The search information is at the top of the first page. If you find properties of interest, please contact me and I will provide more complete information and set up a showing appointment.

More Foreclosures in the Future?

2009-11-25T17:28:00Z

It is estimated that 1 in 4 homeowners is underwater with their mortgage - their home is worth less than the mortgage amouont. This may cause more homeowners to go into foreclosure, which would further reduce home prices. We'lll just have to wait and see if that happens, but if you plan to purchase a home prior to April 30th to take advantage of one of the tax credits, you will have a decision to make in the next few months.

Interest Rates Drop

2009-11-20T19:47:00Z

Interest rates for 30 year fixed conventional mortgages dropped under 5% to 4.875%. Combined with low home prices, willing sellers and a tax credit of $8,000 for first time buyers, this is a great time to buy a home. There is even a $6,500 tax credit for anyone who has owned their home consecutively for 5 ot the past 8 years.

Best Time to Buy a Home!

2009-11-13T15:02:00Z

All of the ingredients are in place to make this the best time to buy a home.

Home prices have hit bottom, according to most experts.

Interest rates are at 5.125% - an all-time low.

Sellers are desperate and willing to negotiate prices even lower.

Credits are available for first time buyers ($8,000) and current homeowners who have lived in their home for 5 consecutive years out of the past 8 years.

If you are in a position to buy now, especially if you don't have to sell a home, this is the time to do it!