Definition of "First-Time Buyer" might surprise you

By now, you've probably heard that the Federal Government is making available an $8,000 tax credit to first-time buyers. While the definition of the term "first-time buyer" might seem obvious, you may be surprised to discover that it includes anyone who has not owned a home in the past 3 years, even if they owned a home prior to that time.

Want more details about the tax credit and how it works?

Tax Credit Example:

You owe: $12,000 income tax
Subtract: $8,000 tax credit
Balance owed: $4,000

OR

You owe: $2,000 income tax
Subtract: $8,000 tax credit
REFUND to you: $6,000

ELIGIBILITY:
■ FIRST-TIME BUYER: Anyone who has not owned a home in the last 3 years
■ PROPERTY: Single Family Residential
■ INCOME LIMIT: Single Person $75,000; Married Couple $150,000
■ REPAYMENT: None (If you own and live in your home for 3 years)
■ TAX CREDIT EXPIRATION: December 1, 2009
■ TAX YEAR: Credit can be applied to your 2008 or 2009 taxes!

Need more reasons to buy a home now?
> Low interest rates
> Lower home prices
> Lots of homes to choose from

Give me a call today to discuss the possibilities for you. 206-708-9800

Saturday Open House

Today (1:30-4:30P) and tomorrow (1-4P), I will be holding open a bright and spacious 3 bedroom/1 bathroom in the Puget Ridge neighborhood, at 5632 18th Ave SW. If you're not familiar with Puget Ridge, it has a rural feel to it, together with the convenience of being very near South Seattle Community College and freeway entrances. This is a great starter home or investment property. Recent work on the house includes a new 20-yr. roof, fresh paint and new flooring throughout the home. In addition to a living room, there is a "bonus room" off the kitchen which has a separate outside entrance. It could be used as a home office, a dining room, a fourth bedroom, or ??? Listed at just $250,000. This is NOT a short sale -- just a great price!

I will be giving gift bags filled with valuable coupons to all comers, so don't miss out!

If you can't make it to the Open House, feel free to give me a call for a private tour. 206-708-9800.

This weekend's Open House

This weekend I will be holding open a bright and spacious 3 bedroom/1 bathroom in the Puget Ridge neighborhood, at 5632 18th Ave SW. If you're not familiar with Puget Ridge, it has a rural feel to it, together with the convenience of being very near South Seattle Community College and freeway entrances. This is a great starter home or investment property. Recent work on the house includes a new 20-yr. roof, fresh paint and new flooring throughout the home. In addition to a living room, there is a "bonus room" off the kitchen which has a separate outside entrance. It could be used as a home office, a dining room, a fourth bedroom, or ??? Listed at just $250,000. This is NOT a short sale -- just a great price!

I will be holding the home open Friday, 3-6PM, Saturday, 1:30-4:30PM and Sunday 1-4PM. Or call me for a private tour. 206-708-9800.

I will be giving gift bags filled with valuable coupons to all comers, so don't miss out!

Price Reduction: Belvidere fixer $300K

Are you looking for a "diamond in the rough" that you can turn into a gem? Take a look at my Belvidere neighborhood listing at 4147 37th Ave SW here in West Seattle. The price has just been reduced to $300,000 on this 1943, 2 bedroom/1 bathroom fixer. This home has definitely seen better days; it's not a project for the faint of heart. HOWEVER, the inspection report (which is available for your review) shows that the house is basically solid and can be restored to its former glory. The seller promises to give serious consideration to all offers, so don't hesitate to take a look and write up an offer. Give me a call for a private tour. 206-708-9800.

Current loan rates

Here is information concerning current mortgage loan rates and programs, courtesy of Troy Chambers, loan officer for Arboretum Mortgage.

"Rates Are Still Very Good!
Mortgage interest rates stay very low, as we continue to see prices fall. Rates are very similar to where they were at this time last week, and I assume will continue to stay at this level.

I will be out of the office from Wednesday through Sunday this week but I am not unavailable. I am able to answer questions, handle issues, and even pre-approve anyone who is in need, so please feel free to email me or call my cell phone at 425-418-5103.

Have a wonderful week!"


Troy Chambers
Arboretum Mortgage
Phone: 206-720
Fax: 206-860-9340
troy@arboretummortgage.com

Table of Current Rates

New alternative to Craig's List

It never fails. One success always spawns competition. But that's a good thing, right?

I was just made aware of a new site very similar to Craig's List. The sponsors claim they were tired of getting legit ads booted from CL, so they started their own site.

If you want to check it out, here's the website address: http://www.freelistingsonline.com/?cityid=75&lang=en

If you like the site, help them spread the word. Let me know what you think?

Alice@AliceKuder.com or 206-708-9800.

Sunday Open House - Free Ice Cream!

Today's Open House, from 1-4, is a terrific home in the Puget Ridge neighborhood. This area has a wonderful rural feel, yet it's approximately half a mile from the West Seattle bridge and right on the #125 bus route. The home was built in 1943 and the (adult) children of the deceased owners have been working tirelessly to revitalize it and get it ready for sale. With 3 bedrooms, 1 bathroom, plus a bonus room off the kitchen with a separate outside entrance, it is move-in-ready, but still needs some TLC. The house sits on a double lot of approximately 10,479 sq. ft. and has a very serene, park-like feel to it. Plenty of off-street parking for your boat or RV AND a couple of cars as well. Priced to sell at just $250,000, this is NOT a short sale. The address is 5632 18th Ave SW, 98106. Come by and take a look and get your coupon for a free ice cream cone at Husky Deli.