HUD approved Stimulus Package that now allows lenders to purchase tax credits from the buyers and then collect the rebate from the IRS.  Of course new homebuyers must still come up with  their down payment of 3.5% , for FHA loans but, they also may use the tax credit to lower their principal balance and which could save them on their monthly payments.  This is only for first time homeowners and only for FHA approved lenders.  Check with your lender to check on this information. Buyers can now use this towards their closings costs.

Great news for all first time Homebuyers….Help is on the way…

Terri Wisecarver

Whitman Metropolitan Inc.

REALTOR

916-380-3738

Sacramento Real Estate

How many agents out there only put a photo or two about their listings for others to see?  As an agent trying to locate homes to meet their buyers needs it is really hard to look at homes that have not given much information as to the look of the home.  The best way to get more attention to your listings and website is to add more pictures of the home you are trying to sell.  Tell everyone out there what the best features are about the home.  Buyers want to see this information.  Why enter a listing that shows nothing. This is a great marketing tool and there are plenty of resources out there to get it.  Show off the home and tell a story about each room.  Are you trying to sell a home or just advertise it for sale?  Doing the best you can do is what you have promised the seller in the listing contract.  So lets all get busy and bring more to our listings for the sellers and buyers out there.

Terri Wisecarver

Whitman Metropolitan Inc.

916-201-4007

Sacramento Real Estate

As a REALTOR® I of course am being asked on a daily basis from everyone about the new TAX CREDIT that has just passed for First Time Home Buyers. This is called the American Recovery and Reinvestment Act 2009. Everyone that stopped to ask me about it actually thought that it could be used as a  credit towards a down payment,  but I was not yet educated enough on the subject.  After looking into the matter I decided to help explain it here.

This credit is equal to 10% of the new home purchase price, but capped at $8,000 for first time home buyers, and principal residences.  You can not of owned a home for the previous 3 years before purchasing a home.  This is also only good for purchases on a home from January 1, through December 1, 2009.

Now listen everyone as there is an income limit on this credit. If single your adjusted modified gross income can not exceed $75,000 and $150,000 if married. For those earning more you may be able to get reduced credits.

This credit does not have to be paid back as the previous credit had been, so rest assured you will get the full credit where credit is deserved.  It is considered a refundable credit.  It reduces your tax liability.

Please locate the IRS FORM 5405 to fill out when filing your taxes to obtain your credit. Or vistit IRS @ This information is deemed reliable but not guarnteed so please check with your legal or tax advisor.

If you have any other questions that you would like to ask, or are looking to purchase a home to claim your Tax Credit please not not hestitate to contact me.

Terri Wisecarver

REALTOR®

Whitman Metropolitan Inc.

916-201-4007

Sacramento Real Estate

Times are hard for everyone these days, but it seems that people are getting so desperate that they are now using big names to produce more scams which are hurting more people.

The National Association of Realtors® name is being thrown out there in the news today in regards to another yet costly scam to collect rents from consumers. From what I gather consumers are being led to believe that NAR is functioning as an intermediary receiving rental deposits from tenants.  This scam is claiming that after NAR receives your deposit ( via Western Union) then they will deliver to the tenant keys to the property.  Some of this information is being posted on Craigslist which is a widely used internet site for postings of many things.

Rest assured that something is being done to stop this. As a member of  NAR I am trying to help get the word out for those consumers that have not heard the news.  Or if you have already encountered this scam please file your complaint with the Internet Crime Complaint Center by the Federal Bureau of Investigation and the White Collar Crime Center. 

Protecting consumers is the main focus here. Everyone needs to stay alert. Do your own investigations first.

Terri Wisecarver

Whitman Metropolitan Inc.

Direct 916-380-3738

Mobile 916-201-4007

To be a part of the Obama plan to help struggling home owners includes Fannie Mae and or Freddie Mac owning your loan. Go to these sites to establish if either one owns you mortgage.

Fannie Mae;

http://loanlookup.fanniemae.com/loanlookup/

Freddie Mac;

http://www.makinghomeaffordable.gov/eligibility.html

www.whitmanmet.com

Jason J Alcazar - LOW RATES!

916-337-1365

Reported March 25th, 2009. Hope for Homeowners Haas assisted in preventing 1 foreclosure! Only 752 applications have been received. Congress made $300 Billion available to back these loans and forecasted it would help up to 400,000 homeowners. I think it would be safe to say this program was not thought out in detail. A NEW version of HOPE has been approved as a part of the Bankruptcy reform bill. This new version is also forecasted to NOT do so well…

Jason J Alcazar
916-337-1365
www.whitmanmet.com

12 months ago the 30 year Fixed Rate Avg. was 5.74%. Last week the rates were recorded at 4.63%, down .26% from the prior week. What are you waiting for?

Low Rates,

Jason J Alcazar

916-337-1365

www.whitmanmet.com

As of Wednesday March 18th Mortgage Loan applications have been reported up by 32.2%.  Over 78.5% are recorded as Refinances. Rates Dropped after the Fed announced that they would purchased Treasury Securities after over four decades.Jason J Alcazar

916-337-1365

Low Rates,
Jason J Alcazar
 

www.whitmanmet.com

15 year loan, 20 year Loan, 30 year loan, FHA, VA, CAL PERS, USDA no matter what type of loan you are in the market for, rates are at an all time low as well as Home prices. Will home prices Drop more? will rates go higher? Give or take…yes and No, depends on where you live but is there a better time? Only one way to find out…let if pass you by and miss out on everything the market has to offer now.

Jason Alcazar -  Low Rates!

916-337-1365

www.Whitmanmet.com

I would like to tell you all 2 different things that have happened to me in Real Estate and why it is always very important for you to always get a buyer, or seller’s signatures on documents.

Scenario #1  I was contacted by a buyer to start searching for a home to by, so of course I set them up on the local MLS to search for homes, and showed them properties at least 4 times a week.  I of course had them sign a Buyer Broker Agreement in the beginning of the process.  After about 3 months of showing homes to them I received a call from them stating that they had found another home and contacted the listing agent on the for sale sign.  I was somewhat upset about  this as you can imagine. In the meantime I also found out that it was a house that I had previously showed them.

I went to my broker and discussed this with him, and he asked to look at my original contract they signed with me.  When everything was done and said, I ended up getting paid the commision on the deal after all.  The buyers failed to tell the listing agent they had signed a buyers agreement with me and my broker submitted a demand for payment through escrow with the copy of the agreement. After all I thought I was representing them to purchase and had invested my time, and effort working to help them.

Senario #2 I had taken a listing agreement to sell a home for a client, holding open houses, creating flyers, sending out postcards, you know the usuall stuff. I had many offers on the table, but the sellers would not negotiate on the price at all.  After about about 4 months on the market the seller came to me and my broker and stated that he wanted to get out of the listing agreement (six months) and that he decided to let his son take over the payments to keep the home. 

Of course I do not believe in holding a seller to a listing contract if they do not want to sell the property as this is not how I work.  I of course set the date on the contract, but if a seller really wants out then I let them out.  Who wants to hold on to a seller that will only prohibit you from selling the property.

About 1 month later something came to my office email about the escrow information and prelim report. I could not figure out why this was happening.  Well after investigations on my own I found out that the seller was selling the home to another person.  I contacted the Real Estate attorney and found out that because the seller lied to get out of the listing agreement and misled my broker to believe he was not selling the property we were due the commission on this sale also.  Again we submitted the information to escrow and negotiated a deal with the seller through closing and were paid a commission.

I could of just walked away from both deals but my broker was the one helping to fight for me, I consider it reimbursement for services already rendered. 

Signatures always protect you in every case not just Real Estate. 

http://www.TWRE.info Sacramento Real Estate