Do you qualify for the new tax credit?

In 2009, Congress approved an $8,000 tax credit for first-time homebuyers. That probably didn’t help you much, since you already own a home.

As of Dec. 1, 2009, you may qualify for a tax credit of up to $6,500 when you purchase another home… and you don’t need to sell your current home!

Following are some of the restrictions. This information is neither exhaustive, nor guaranteed.

· Must purchase before April 30, 2010
· Income cap of $125K for individuals or $225K for married couples
· Purchase price of home cannot exceed $800K
· Must have lived in current home for at least 5 of the past 8 years

The politicians call it a tax credit. You will call it CASH IN YOUR POCKET!

Here’s how a tax credit works. When you file your annual income tax return, you deduct up to $6,500 from the amount of tax you owe. If you do not owe any tax, you receive a check for up to $6,500 from the Federal Government!

Want to know more? Give me a call today. 206-708-9800

Should you hire a home inspector?

Not Moving? A professional home inspection might be a good idea anyway.

So you’ve been in your home for years and you plan to stay there for quite a few more. You have no need for a professional home inspection, right? Well, maybe, but consider this. As your home ages and you become comfortable in your surroundings, it’s easy to let maintenance of the big ticket items slide a bit. e.g. How old IS the hot water tank now? Is the foundation holding up? Is the electrical system still adequate for our needs? These are questions an inspector can help you answer.

Here are some questions to ask if you want to hire an inspector:
1. Do you have a current Washington State Home Inspector License?
2. Are you a member of the American Society of Home Inspectors or the National Association of Home Inspectors?
3. How many inspections of similar properties do you do each year? References?
4. What specifically will the inspection cover? What is excluded?
5. Do you carry errors & omissions insurance? Do you guarantee your work?
6. What type of report will I receive after the inspection?
7. How long will the inspection take & how soon will I receive the report?
8. How much will the inspection cost? Do you offer any discounts?

Questions about this topic? Give me a call. 206-708-9800.

Need to rent?

Did you know that the Multiple Listing Service also lists homes to rent at no additional cost to the renter? Give me a call today for more information or assistance. 206-708-9800.

Current mortgage loan rates

Here is the latest on mortgage loan rates/programs, courtesy of Troy Chambers, loan officer for Arboretum Mortgage.

"We have seen basically no movement in interest rates this week, as we round the
corner and head to the new year. It is anticipated that money will be moved into the
bond market the first week of 2010, so hopefully we will see slightly lower rates next
week.

Please let me know if anyone you know is looking for a pre-approval or a refinance, as
right now is a great time to take advantage of a hot market. I am consistently available
on my cell at 425-418-5103, and would love to help out at any time of the day.
Have a safe New Year!"


Troy Chambers
Arboretum Mortgage
Phone: 206-720-6628
Fax: 206-860-9340
troy@arboretummortgage.com

Table of current rates.

Current mortgage loan rates

Here's the weekly update on mortgage loan rates and programs, courtesy of Troy Chambers, loan officer for Arboretum Mortgage.

"Rates have gone up a bit this week, but who cares … its Holiday time!! Actually, it is quite common as the year ends, to see rates creep slowly upwards. I am assuming they will settle back down as the calendar turns.

I will be out of the office for a few days, but as always I will have my cell, so please DO NOT hesitate to call if you should need anything at all. The cell number is 425-418-5103.

Let me know if you know of anyone looking to refinance or purchase a new home.

Thanks, and Happy Holidays!"


Troy Chambers
Arboretum Mortgage
Phone: 206-720-6628
Fax: 206-860-9340
troy@arboretummortgage.com