If you didn't get the message already, let me confirm that the Federal Tax Credit for Home Buyers has been Extended and Expanded. The tax credit will be extended through April 30, 2010, with a 6-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to receive a tax credit of up to $8,000, while existing homeowners will receive a credit of up to $6,500. This is some of the best news we've had in a long time for the Real Estate market.  While the economy appears to be recovering slowly, I do think some of the uptick in the real estate area has been from the first time buyer tax credit.  Now that is has been expanded to include existing homeowners I think that will continue.  I worry what will happen when it ends but my home is that the economy will be feeling a recovery by then and it won't be as shocking as it would have been at the end of December. 

$799,900.00 109 Deer Spring Way Palm Desert, CA 92211 Beds: 3 Rooms: 6 Full Baths: 3 Sq. Ft.: 2764 Garage: 2 Built: 1983   Spectacular home, completely redone and ready for you to bring your furniture and clothes. This is a new listing that I thought you might be interested in. Visit this listing online to see more photos of the property, Google Earth satellite images, and much more.   If you have any questions about this property or require more information, please feel free to call. Heather Burke Main Street Realtors 5622435244 www.findalongbeachhome.com     Visit this listing here

I think we all know that mortgage rates have been low for several years now but are you really aware how low?  I was shocked on the weekend when I wrote an offer on a single family residence, for a single buyer and attached a copy of his qualifying letter to the offer.  I followed up on Monday morning with his lender and told her we had written the offer for a 30 year fixed rate loan with a rate no higher than 5.5.  I have 6% on my home I've lived in for 7 years and I have always thought that was a steal.  I was hopeful she would say you are well within what we can do today, but no she said oh that's way over what we need.  In fact, she was able to lock him in to a 30 year fixed rate loan at 4.785%.  I was shocked.  It had significant affect on his monthly payment.  Let me show you what I mean.  If he was financing $100,000 and the rate was 5.5%, his payment would be $568/mo, principal and interest.  If he finances the same amount at 4.875%, his monthly payment drops to $528/mo, that's $40/month or $500/year!  If you are purchasing a home that is 3 or 4 times that amount your savings will be significantly higher.  I did some research after my conversation with the lender and I found an article by one of the banks that said the rates last week and this week are the lowest they have been since 1971!  I know inventory is low and it's especially difficult at the lower price point, but if you are thinking about purchasing, between these rates, and the government tax credits, you really need to get into high gear and get it done.  There are still some really nice single family homes and condos in the Long Beach area.  Let me know if I can help you with your search.  What a great time to be looking to buy.