Are you the Buyer that asks for too many opinions?  It's natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.  Remember, there is no "right" time to buy, anymore than there is a right time to sell.  If you find a home now, don't try to second -guess the interest rates or the housing market by waiting. Changes don't usually occur fast enough to make that much of a difference in price, and a good home won't stay on the market long.  The 80-20 Rule.  No house will be perfect, focus in on the things that are important to you and let go of the minor ones.

Buy a "home" because you love it, and that the home you will live in is comfortable and safe.

For a home to yield financial benefits, factor in maintenance and repair costs. Depending on the current real estate temperature, your home may or may not appreciate 3 to 6 percent annually.

Are you one of those people who think buying a property that is in "short sale" means closing in "short time?"  On the contrary, buying a "short sale" involves a considerable amount of risk.

A short sale is when a home is being sold for below what the current seller owes on the property-and the seller does not have other funds to make up the difference at closing.

What you should consider before pursuing a short sale contract on a home.

Patience -will you be willing to wait for the bank approval, even after you come to an agreement with the Seller.  Short sale experts say lender approval typically takes about 2 months.  If there is more than one mortgage with different lenders, it can take longer.

Your financing is in order Lenders like cash offers.  You will be viewed favorably if your pre-approved, able to bring a large downpayment and can close at anytime.

You don't have any contingencies.  Lenders like no contigency offers and flexible closing terms.

RISKS;

Potential for rejection

Bad Terms

No repairs or repair credits

Need more clarification?  Please do not hesitate to email me your questions or call 316 518-8510.

To get a better handle on where the house stands, buyers should attend a home inspection and ask questions, says Bill Richardson, a home inspector in New Mexico and president of the American Society of Home Inspectors. That way, they can get tips and recommendations from the inspector as he or she is working. They should keep the inspection report handy for reference. For existing homes, an inspector will estimate the age of major components, giving the home buyer a sense of when they will need replacing. A furnace, for example, often lasts between 12 and 15 years; a water heater from 10 to 12 years.

“Buying a home is one of the largest investments you’re going to make,” he said, “If it’s done wisely and with lots of thought, it can be a huge asset. If it’s not well thought out, it can become a huge burden to you.”

http://rismedia.com/2010-02-07/first-time-buyers-beyond-the-mortgage-payment-brace-yourself-for-extra-costs/#more-43942

I just realized that I have been preaching about the first time home buyer tax credit, without mentioning about the income limits to qualify.  I assumed that if an individual sitting on the fence would jump off and talk to a lender and of course that part of the slack is picked up by another professional.  

If you need more motivation to start talking to a lender and get pre-approved, I got some specifics for you:

Income limits to qualify and claim your first time home buyer tax credit:

$125,000.00 -for a single individual

$225,000.00 -married tax payers filing a joint return.

For those who already own a home, you are not left out this time.  There is the move up (or not), repeat buyer tax credit.  The amount of the credit is $6,500.00.  To qualify, you just have to live in your residence for the last 5 consecutive years of the last 8 years.  The same income qualifications apply as the first time home buyers.

If you have more questions, email me at josalonso@cox.net or call my cell 316 518-8510.

Source: RISMEDIA, 1/19/2010.  In addition to filling out a Form 5405, all eligible home buyers must include with 2009 tax returns one of the following documents in order to receive the credit:

-A properly executed Form HUD-1, Settlement Statement

-For a newly constructed home where a settlement statement is not available, a copy of certificate of occupancy showing the owner's name, property address and the date of the certificate.

-Form 1098, Mortgage Interest Statement, or substitute mortgage interest statements,

-Property Tax Records or Homeowners' Insurance Records

The processing of First Time Homebuyer Tax Credit eligible returns will begin mid-February.  The IRS also reminds home buyers that the new documentation requirements mean that taxpayers claiming the credit cannot file electronically and must file paper returns. Taxpayers can still use IRS Free File to prepare their returns, but the returns must be printed out and sent to the IRS, along with all required documentation.

For more information, visit www.IRS.gov  and/or consult your Tax Professional Advisor.

http://rismedia.com/2010-01-18/internal-revenue-service-releases-new-home-buyer-credit-form/

NOTE:     YOU CAN STILL TAKE ADVANTAGE OF THE SAVE NOW, FIRST TIME HOMEBUYER TAX CREDIT, IF YOU PURCHASE A HOME BETWEEN NOW UP UNTIL APRIL 30, 2010. 

The Worker, Homeownership, and Business Act of 2009 has established a tax credit of up to $6,500 for qualified move-up/repeat homebuyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010).

If you have more specific questions you are strongly encouraged to consult a qualified tax advisor or a legal professional about your unique situation.

More Q and A here:

http://www.federalhousingtaxcredit.com/faq2.php

**Please note repeat home buyers do not have to purchase a home that is more expensive than their previous home to qualify for the tax credit. **

If buying a home has been in your mind and you are just waiting for the right motivation,  this  might be  the opportune time to seriously consider your options.  This may just be the opportunity to help you  make up your mind ; either to downsize, upgrade, move closer to family or whatever the situation might be....

According to Ann Christian, 2009 President Kansas Association of REALTORS  -President Obama is set to sign Homebuyers Tax Credit Expansion.

The legislation extends the First -Time Homebuyers' Tax Credit of $8,000 through April 30, 2010.

It also includes an expansion of the credit to current homeowners, who have consecutively maintained their home as their primary residence for five of the last eight years.  The "move up" portion of the legistlation provides a $6,500 tax credit to the current homeowners who are purchasing a new primary residence. It also has an April 30, 2010 deadline.

Source :  www.kansasrealtor.com

*Expedite the closing process

* You want to know in advance what your payments will be

*You don't want to waste time looking at homes you cannot afford.

*It is standard practice that an offer to buy a house is accompanied by a Lender's Pre-Approval Letter and your earnest money.  The earnest money will show that you are serious about your offer and  the Lender's Pre-Approval Letter will ensure the Sellers of your ability to secure financing.

Let me help you with your real estate questions.

Please call 316 518-8510 or email me at josalonso@cox.net

Source : RISMEDIA, The Leader in Real Estate Information systems.  

http://rismedia.com/2009-09-17/the-clock-is-ticking-as-first-time-buyers-intensify-their-house-hunting/

There is a growing Capitol Hill support for the extension of the First Time Home Buyer Tax Credit to end of the year, instead of November 30, 2009.

According to Lucien Salvant, managing director of public affairs for NAR, there is a chance the credit will be extended for buyers who don't make the deadline.  However, if you are a first time homebuyer waiting is a gamble.

According to Realtor.com, first time buyers on average search 12 weeks to find a home.  But there are ways for buyers to expedite their journey to closing.  If you're working with a real estate agent, make sure he or she sign you up for automatic alerts when homes are listed.  You don't have time to look at unavailable homes.

David Bach is a financial coach and #1 New York Times bestselling author of ten books, including The Automatic Millionaire Homeowner , The Automatic Millionaire and Start Late, Finish Rich. 

http://www.youtube.com/watch?v=TSbF6h7ties

I will be honored to walk you through the process of owning your first home here in Kansas.

First time or not, when it is time to apply for a home loan, or refinancing please know your rights!  Read more here ......  many changes have been implemented as fingers have been pointed in so many directions as the reason why our homeowners are losing their homes in foreclosures, and short sales.

http://www.latimes.com/classified/realestate/news/la-fi-harney19-2009jul19,0,1179820.story

Are you telling me, you are still one of those sitting on the fence and not jumping in to take advantage of the First-time Homebuyer Tax Credit?

Ask your parents or your grandparents if they  ever had in their lifetime this record low interest rates!

Before you miss out, it is important to know that this $8,000.00 tax credit will go away after November 30, 2009.

Read more of the guidelines to be eligible for the tax credit,

http://rismedia.com/2009-04-01/the-8000-first-time-homebuyer-tax-credit-%E2%80%93-a-great-tool/

For a list of properties for sale in your area of choice, call me 316-518-8510 or you can register as a buyer in my website for complete access to the Multiple Listing Service (MLS)

If you have any exposure to the news, you know how easy it is to start feeling depressed even after just a little bit of news. The law of attraction is still working in this case because what you focus on expands and if you focus on lack and scarcity, doom and gloom, the poor economy and so forth, that is exactly what you will manifest as your result. However, the good news is that it’s possible, and not only possible but actually imperative that you use the law of attraction to your advantage while the rest of the world is focusing on the doom and gloom that is being reported on a daily basis.

The most important thing to remember is that you have a choice. You can either focus on the gloom and become a victim like most people, or you can choose to use the law of attraction to create the kind of results that you want. Remember, like attracts like and you get what you focus on. No matter what is happening in the economy, you always have the choice to focus on abundance as well as the opportunities that are available to you.

Read more http://rismedia.com/2009-03-31/real-estate-marketing-strategies-does-the-law-of-attraction-work-in-todays-market/

According to the study made by the National Association of Realtors collected from  responses of 10,000 consumer who recently purchased a home.

The number one reason for purchasing a home "is the desire to own a home".  Other reasons would be : job relocation and the desire for a larger home.

What do buyers look for the most in finding the right neighborhood?  No. 1 reason is the quality of the neighborhood.  Buyers may start out saying convenience to job, quality of the school district and affordability of homes but when they drive by a well kept, attractive neighborhood where the yards are green and clean, they end up choosing a house in the neighborhood.

Homebuyers cite the importance of the Real Estate Agent is to help them understand the process.

The study also cites that the largest segment of homebuyers are ages 25-34.  The biggest compromise reported when purchasing a home is price and that the first step that buyers most often take in the home-buying process is search properties online. Home buyers would like to see a lot of pictures online.

The most popular type of mortgage among first-time and repeat buyers is a fixed rate.  Job relocation ranks as number 1 reason for selling a previous home.

To receive listings in your desired neighborhood and in you price range, please register on my buyers exclusive page.

As per paragraph 21 of the Contract For Purchase and Sale of Real Estate, the Buyers may have an inspector of their choice complete a whole house inspection.  The inspector may arrive approximately 20 to 30 minutes early to inspect the exterior and should be on site for approximately 1 1/2 to 2 1/2 hours.  Inspectors usually conduct a visual inspection of all accessible systems and components of the home including, but not limited to the following:

Structure and Foundation /Furnaces and Air Conditioners/Roofs, Attics, Porches, Decks/Plumbing Fixtures in Kitchens & Baths/Electrical and Plumbing Systems/Walls, Floors & Ceilings/Basements & Crawl Spaces/Smoke Detectors/Gutters & Drainage/Water Heaters, Lights and Receptacles/Garage Door Opener/Built -in Appliances

The inspector will run the dishwasher so if you have soap and dishes in there, it will be done for the seller.  Seller shall make access for the inspector to get into attics and crawl spaces.  If there is a dog on the premises, please have it restrained so that the back yard can be safely entered.

No one expects a house to be "perfect", but it is valuable for all concerned to be aware of the relative strenghts and weaknesses of the property.  Buyers are more comfortable if the Seller is not present.  We strongly recommend you vacate the premises during this period.

$7,500.00 First time homebuyer program as a tax credit. Homebuyers who pruchased a home between April 9, 2008 to January 1, 2009.  For more detailed information go to http://www.federalhousingtaxcredit.com

$8,000.00 First time homebuyer program as a tax credit.  To qualify a homebuyer must purchase a home between January 1, 2009 to December 1, 2009.  For more detailed information go to http://www.federalhousingtaxcredit.com

Buying a home can be a rewarding life experience, as well as a great investment.  But having a successful purchase requires some education and research.  For first time homebuyers especially, you'll save yourself a lot of frustration and -maybe even money- if you start with a few simple steps.

Be honest about your housing needs, and call a real estate agent.

Assess your finances and meet with several lenders to find the right loan.  (click on Mortgage Lenders under Vendors and Contractors).

Research neighborhoods carefully, and make sure to have the house professionally inspected.

Use contingencies as a negotiation tool, and don't forget to budget for closing costs.

If you want to sell your home for the highest price in the shortest amount of time, it is definitely worth your elbow grease to get your house into tip top shape.  Top of your list would be:

*Fresh paint, inside and out

*Clean carpets

*Neatly trimmed lawn and shrubs

*Neatly organized closets

*Have pets out of the way

As your agent, I will walk with you every step of the way as you "condition" your home to impress potential buyers.

Tags: Wichita, Derby, Rosehill, Andover, Haysville

First impressions count.  A real estate agent like myself has seen countless properties in the area, and are uniquely skilled in helping sellers understand what they can do to properly prepare their home for sale. To schedule a pre-market consultation and learn more, contact Jo.

Learn It's Value Before You Sell.  Get help in establishing the right asking price based on numbers and facts. Asking too much might ultimately be more costly than asking too little for your property.  Our professionally prepared Competitive Market Analysis (CMA) is available at no charge or obligation.  To request a CMA, contact Jo.