Purchasing in Incline Village, Lake Tahoe!

Lake Tahoe Incline Village Homes For Sale


If you're visiting Lake Tahoe, Incline Village has it all for any season: skiing and boarding, golf courses, mountain biking, casino fun and some of the best dining at the lake. Combine all the activities with Lake Tahoe's finest accommodations and discover why it's Tahoe's most complete resort area.

Play all day and into the night. Incline Village, Nevada offers excellent dining, nightlife, and gaming with the closest Nevada casinos to San Francisco.Lake Tahoe Incline Village Growth and Development Incline was little more than a "wide spot" in the road during the 30s, 40s and early 50s, with only summer homes and a trailer park to distinguish it. Year-round residents were few, and those who remain tell stories of wild winters, food shortages and isolation. In an attempt to preserve something of those early logging days, this new community was named "Incline Village." By 1964 a new elementary school was under construction, and several years later, the community cut the ribbon at Incline High School. Incline Village was on its way. Are You Looking For Incline Village Luxury Homes For Sale?Let Us Help You Find Quality Incline Village Homes For Sale

That brings us to the Lake Tahoe Incline Village we have today...with signs of a healthy future in evidence around every corner. Incline residents and property owners come from all parts of the country and the world. They are hardworking young families and relaxed retirees. They are corporate executives, airline pilots, teachers and builders. They are artists, writers and astronomers. They are recreationally active and environmentally protective. And they have one common denominator, their all-encompassing love for Incline Village and Lake Tahoe.
The communities of Incline Village and Crystal Bay are situated on the Northeast Shore of Lake Tahoe and offer virtually every seasonal sporting activity imaginable. Water-based activities include boating, water and jet skiing, swimming and fishing. Landlubbers enjoy everything from golf, hiking and biking, to downhill and cross country skiing and snowmobiling. And, of course, gaming aficionados can pursue their interests in five casinos.

The communities offer cultural events ranging from musical theater and dance performances to art exhibits, crafts shows, courses at Sierra Nevada College and Truckee Meadows Community College and Native American Culture events. The summer highlights include theatrical presentations of Shakespeare at Sand Harbor, Lake Tahoe Summer Music Festival and other cultural events. The holiday ski season is launched with the Northern Lights Winter Festival during the month of December.

We are pleased with the range and quality of our recreational facilities. These include two Robert Trent Jones golf courses, a $6.2 million dollar recreation center which features indoor basketball courts, a heated swimming pool and fitness machines, the Diamond Peak Ski Resort, a tennis complex, and private beaches. Soon to be added to the list of recreational facilities are an ice arena and a skateboard park.

Incline Village and Crystal Bay are easily accessible - four major and three secondary highways service the Lake Tahoe Basin. The lake is encircled with paved roads and bus service within the area provided by the Tahoe Regional Transit System. A very diverse cultural and business community, though small in population, represents the North Shore. The local commerce includes computer software, professional services, retail, lodging, lake tahoe real estate, restaurants, investment, gaming, residential services, service industries for ski, golf and tennis resorts, and large emerging communication and technology-based "home office" entrepreneurships.

We continue to enhance our reputation as one of the world's premier commercial, residential and vacation addresses in Lake Tahoe. The secret of Incline Village is our quality of life and our pristine surroundings.

Let Us Help You Find The Best Lake Tahoe Incline Village Homes Available

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Incline Village Golf Courses

This article appeared in our Coldwell Banker E-Newsletter:

Not all of us are golfers but all of us have friends who are. I thought you might enjoy some additional information about our golf opportunities here in Incline Village. This article was written by one of my avid golfer friends.

Mountain Course
I usually will start off the season with a warm up at the Mountain Course. The course has 14 par-3 holes. The par-58 course meanders at about 6,875 feet above sea level. This course gives you a chance to use all your irons. The course measures 3,512 yards from the back tees and can also be played at 3,002 yards. There is plenty of opportunity to test all of your irons. This gives you lots of practice for the Championship Course.

There are 4 par 4s where a driver can be used. Club selection will be a true guessing game on some of these holes. We have many creeks that run through much of the course, which resides in a beautiful hilly setting with lots of pine trees and views of the lake. Accuracy is crucial and trusting the RIGHT club is a must. I find that the greens run fast and roll true. Shot making skills are necessary. This course is very challenging.

Championship Course
I absolutely love this course. I play golf all over the world, and I truly love my home town course. The views are spectacular, and every hole is majestic. I find the course challenging but fair.

The Championship Course has had a $13 million dollar renovation in 2003/2004. Golf Digest voted the course, top ten in the State of Nevada. The course offers tightly cut fairways bordered by towering trees, demanding accuracy as well as distance. Golfers are faced with lots of bunkered greens and many water hazards on almost every hole. Believe me, I have lost many balls in the water hazards. Make sure your bag is full. The course features 7,106 yards of golf from the longest tees for a par of 72. The course rating is 70.7 and it has a slope rating of 133 on blue grass.

The first hole is a par-4 that goes 364 yards. It’s a nice hole to start. Not to tough. A short iron will follow a nice hit drive down the middle of the fairway. Don’t let the 16th hole distract you by the breathtaking view of the Lake. This is my favorite hole. A 3 wood or less is the way to hit your first shot, this should lead to a short iron onto the green.

When you are finished with your 18 holes of golf, it's time to head to The Grille at the Chateau to add up your score cards. Show me the money!!!!!!!

Clubhouse & Amenities
Both Golf Shops offer a fantastic amount of golf clothing, shoes and accessories. The pro shop carries my favorite clothing line Jamie Saddock. They also carry, Ashworth, Polo, Greg Norman, Ben Hogan and many more. The shop also carries many different types of clubs. They will also fit and special order your clubs. The Championship Pro shop was ranked among Worlds Golf 100 best Golf Shops, and was recently honored on the best in the State list by Golf Digest.

The course has an excellent practice facilities. The driving range includes 28 stalls and five target greens. You get a fantastic view of the lake while practicing on the driving range.

The Chateau is a majestic Tahoe style clubhouse. It is the home of many events here in Incline. Weddings, banquets, golf functions, and many more. Luxurious locker rooms and a delicious grill enhance your golf experience. The Grill at the Chateau is open during the golf season for breakfast and lunch offering a variety of different specials and selections ... The Grill also has
a nice full bar. Seating is available outside on the deck overlooking the course and the Lake...

Both courses offer snack bars so you can grab a bite to eat on the go or on the turn. Bar Carts on both courses offer refreshments drinks and snacks.

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Finding the Perfect Neighborhood

A home is not an island.

The surrounding neighborhood is just as important because it can have a big impact on your lifestyle -- safety, available amenities, and convenience all play their part, according to the National Association of Realtors (NAR).

NAR also says you can keep your home value buoyed if you find the right neighborhood.

And you can find the right neighborhood by getting information direct from the best sources -- rather than from second hand and often incomplete data bases professing to offer you one stop shopping for all your neighborhood checking needs.

• Make a list of the activities -- movies, health clubs, churches -- you engage in regularly and stores you visit frequently. See how far you would have to travel from each neighborhood you’re considering to engage in your most common activities.

• Check out the school district. The education department in your town can provide information on test scores, class size, percentage of students who attend college, and special enrichment programs. Even if you don’t have children, a house in a good school district will be easier to sell in the future.

• Check crime. Ask the police department for neighborhood crime statistics -- not only the level of crime, but also the type -- burglaries, armed robberies -- any trends of increasing or decreasing crime and the location of crime.

• Look for economic stability. Your local city or county economic development office can tell you if income and property values in a neighborhood are stable, rising or falling, the percentage of homes to apartments. Apartments don’t necessarily diminish value, but they can indicate transient populations. Check for vacant or blighted businesses or homes.

• Consider resale value. A local real estate agent or trade association can give you information about price trends, inventories, selling times and other information that can indicate how well your home's value will hold up.

• Hit the streets. Narrow your focus to several neighborhoods and do a "walk-through" of each. Pick a warm day when people are out and available for chatting. Look for tidy, well maintained homes, quiet streets and other indicators of neighborhood stability.


• See what the pros say about buying a home.

Written by: Broderick Perkins / Realty Times

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Is Homeownership Right for You?

Is Homeownership Right for You?
10 Questions offered by Freddie Mac to find out if buying a home is right for you!

Buying a home is the largest purchase most people will ever make. Homeownership has great benefits. Homeownership also comes with certain responsibilities.

Are you ready for homeownership? Look at your current situation and determine if:
You have a steady, reliable source of income and a steady employment history for at least two years.

*You have a credit history.
*Your total debt is manageable and you can afford to take on the costs associated with homeownership.
*You have money saved for a down payment and closing costs or you have access to other sources of funds, such as an employment bonus, tax refund, or a gift from a relative.
*Think about your future plans that might affect your ability to manage the costs of homeownership.
*Consider whether you need to make lifestyle changes that might include not taking expensive vacations or purchasing luxury cars, and dining out less.
*Consider the costs of a growing family when looking at your homeownership budget.
*Consider whether your future plans might include a wedding or college education for yourself or your children.

And remember, the mortgage is not the only expense you need to consider. Homeownership comes with other potential budget items such as repairs, maintenance, taxes, landscaping, etc.

Once you fully understand your current situation, your future plans, and the big picture in terms of homeownership, it's important to look at the pros and cons of homeownership to make the best decision for you and your family.

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Real Estate Outlook: Key Indicators Point Up

Week after week, the economic signs pointing to a recovery underway in the home real estate market just get stronger.

Now that's not to say everything is improving in the economy overall, or even in housing for that matter. We all know that hundreds of thousands of jobs are still being lost every month across the U.S., and Federal Reserve Board chairman Ben Bernanke says the unemployment rate is likely to rise a little more before the economy digs itself out of recession later this year.

But for housing, most of the key indicators continue to point up. Here's a quick rundown:

Pending home sales took a 3.2 percent jump last month -- the second straight month of positive growth. These are signed home sale contracts that haven't yet gone to closing, but are scheduled to do so in the next 60 to 90 days.

Lawrence Yun, chief economist for the National Association of Realtors, said we're now at "the leading edge of first time buyers responding to very favorable affordability conditions, and an $8,000 tax credit."

Mortgage applications for future home purchases also surged again, up five percent nationwide last month, according to the Mortgage Bankers Association. Rates are firming up in response to the rising demand for mortgage money. They rose last week on average to 4.8 percent for 30 year fixed rate loans and 4.6 percent for 15 year mortgages.

Those rates are still close to all-time record lows, but with more people jumping into the home buying market, they could easily go back over the five percent level in the coming weeks, say economists.

The affordability index also continues to hover near its all time best. According to the National Association of Home Builders, the median income American family, earning $61,000 a year, can now afford to buy a $290,000 home with a 20 percent downpayment, assuming 25 percent of gross income is devoted to mortgage principal and interest, thanks to low financing rates.

The median priced home meanwhile goes for about $175,000.

Equally important, consumer psychology is turning positive on housing, something potentially huge for anyone looking to sell property. When the Gallup polling organization asked a national sample of Americans last month whether this is a "good time to buy a house," 71 percent said "yes." That's an increase of 18 percent in a year, and the highest level in four years.

Written by: Kenneth R. Harney / Realty Times

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April Round Up: Rates Tie Record Low

In Freddie Mac's results of its Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 4.78 percent with an average 0.7 point for the week ending April 30, 2009, down from the previous week when it averaged 4.80 percent. Last year at this time, the 30-year FRM averaged 6.06 percent. The 30-year FRM now equals the record low that was set the week of April 7, 2009. It has never been recorded lower in Freddie Mac’s survey, which goes back to 1970.

The 15-year FRM this week averaged 4.48 percent with an average 0.7 point, unchanged for the third week in a row. A year ago at this time, the 15-year FRM averaged 5.59 percent. This is tied with the last two weeks for the lowest the 15-year FRM has been since Freddie Mac began tracking it in August 1991.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 4.80 percent this week, with an average 06 point, down from the previous week when it averaged 4.85 percent. A year ago, the 5-year ARM averaged 5.73 percent. This is the lowest the 5-year ARM has been since Freddie Mac began tracking it in January 2005.

One-year Treasury-indexed ARMs averaged 4.77 percent this week with an average 0.7 point, down from the previous week when it averaged 4.82 percent. At this time last year, the 1-year ARM averaged 5.29 percent.

“Rates for fixed-rate mortgages hovered at record lows this week as ARM rates eased further,“ said Frank Nothaft, Freddie Mac vice president and chief economist. “Mortgage rates for 30-year fixed rate mortgages, the most popular loan among homebuyers and families seeking to refinance, are more than 1.6 percentage points below the recent peak set at the end of October 2008. For a $200,000 loan, this means a monthly savings of almost $212 in mortgage payments or over $2,500 per year. In aggregate, borrowers who refinanced during the first quarter reduced their mortgage payments by about $2.5 billion over the coming year.

“The housing market may be edging towards a bottom. Existing home sales stayed near its four-month average in March while new home sales were stronger than the market consensus. More importantly, the inventory of unsold new homes fell to the lowest number since January 2002. And, the S&P/Case-Shiller® 20-city composite index did not show a record year-over-year decline in February for the first time since December 2006. Finally, housing affordability hit record highs in the first quarter of this year, according to figures from the National Association of Realtors, which date back to January 1971."

Homes Are Increasingly Affordable:

Home prices have fallen to the point that the typical household can afford to buy, according to a quarterly report from economists at HIS Global Insight and PNC Financial Service Group.

The report examined price trends in 330 metropolitan areas. It said homes were "fairly" valued in 202 of the markets – prices were between 14 percent above or below the historic norm. Twenty-one markets were considered "overvalued," or between 14 percent and 34 percent above the norm. And 106 markets were dubbed "undervalued," or more than 14 percent below the norm.

The report takes into consideration household income, population density and differences in prices related to climate, schools and other factors.

Home prices appear likely to bottom out late this year or early in 2010 in most of the country, predicts Jeannine Cataldi, a senior economist at HIS Global Insight. Factors affecting how long the market stays stagnant include unemployment rates and the number of foreclosed homes lenders must unload.

Four Perks of New Homes:

It could be a great time to buy a brand new home because prices are down and builders are motivated to unload declining, but still significant, inventories. Marty Gillespie, president of Heartland Homes, a custom home builder in western Pennsylvania, offers these reasons for buying new rather than existing properties.

Buying new means new everything. New homeowners don’t have to replace carpeting, paint, or redo the kitchen.

Mortgages on new homes are often lower. That gives new homebuyers bargaining power.

Appreciation is greater. New homes tend to gain more value than existing homes during the first five to seven years.

New homes are often more energy efficient. Gillespie says his company’s research shows that new homes are 30 to 35 percent more energy efficient than a home built 10 years ago.

Six Reasons Why It's Still a Good Time to Buy:

The housing market is looking healthier. Sales and pending sales of homes have turned up sharply in hard-hit markets. House prices are more affordable. Consumer confidence polls show slight but noteworthy improvements in the public's outlook. With that in mind, here are six reasons why now is the time to jump into the market:

Uncle Sam is willing to help. First-time buyers (defined as anyone who hasn’t owned a home in the last three years) are entitled to a maximum $8,000 tax credit; interest rates are at record lows; and the Federal Reserve is doing its best to make mortgage loans available.

People have to live somewhere. About 800,000 new households are formed each year in this country, ensuring that the housing market will tighten, even if the economy doesn’t soar.

Borrowers leverage their investment. If you put $10,000 into the stock market and it earns 10 percent, you’ve earned $1,000. If you put $10,000 down on a home and its values increases 10 percent, you’ve made $10,000.

When prices come back up, you’ll have instant equity. In parts of the country where foreclosures have driven down prices, better times will mean the price of the home you buy will rise rapidly.

Mortgage costs stay the same. If you get a fixed-rate mortgage, the monthly payment stays the same – while everything else, including rent, goes upward.

You own it. There is something comforting in the notion that your home is your own. You can paint it any color you want, let the dog run in the back yard and hang a swing for the kids in the front.

Written by: Realty Times Staff

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Shelter from Taxes

More Americans than ever own homes because it's the ultimate tax shelter.
This areticle was published in Realty Times
Written By: Broderick Perkins

You save taxes when you buy it.
You save taxes while you own it.
You save taxes when you sell it.

"The mortgage interest deduction and the deduction for property taxes are, to most Americans, sacred. These deductions have been around since time immemorial and the purpose was to encourage home ownership," said Leonard W. Williams, a certified public accountant in Sunnyvale, Calif.

Mortgage interest deduction
All but the very wealthy homeowners deduct all the mortgage interest they pay and consider that the primary tax benefit to home ownership.

IRS Publication 936 "Home Mortgage Interest Deduction" says, in general, joint tax filers can deduct all the interest on a maximum of $1 million in mortgage debts secured by a first and second home, plus the interest paid on a maximum $100,000 in home equity loans. The maximums are halved for married tax payers filing separately.

Watch out for those popular 125 percent equity-loans. Your equity tax deduction is limited to the lesser of the $100,000 maximum and the home's fair market value, determined by a complicated formula found in Publication 936.

The mortgage interest deduction, along with other itemized deductions are included on "Schedule A, Itemized Deductions" to reduce your taxable income and ultimately your tax bill.

"If that total exceeds the standard deduction ($3,550 for married couples filing separately, $4,250 for singles, $6,250 for heads of household and $7,100 for married couples filing joint returns) then you get it deducted from your adjusted gross income," said Peter Vernaci, a certified public accountant from San Jose.

Mortgage tax credit The Mortgage Credit Certificate (MCC) program allows some first time home buyers to benefit from a mortgage interest tax credit.

An MCC, which you first must obtain from your local housing department before you get a mortgage, gives a qualified first-time home buyer a federal income tax credit of up to 20 percent each year the buyer keeps the same loan and lives in the same house.

As explained in IRS Publication 530, "Tax Information for First-Time Homeowners," the credit is subtracted, dollar for dollar, from the income tax owed. For example, if you paid $10,000 in interest, your tax credit would be $2,000. The remaining 80 percent of the interest _ $8,000 is taken as a typical mortgage interest deduction.

You can see the tax credit's benefit immediately in your paycheck by adjusting your W-4 exemption status to reflect the credit. In some cases, lenders will qualify you for a loan based on the monthly mortgage payment minus the tax credit, enabling you to qualify for a bigger loan.

Points
Home buyers also get to fully deduct all points associated with a home purchase mortgage. Sometimes called "origination fees," "loan discounts" and "broker discounts," each point is one percent of the financed amount. In many cases, the buyer can also deduct points on the buyer's mortgage that are paid by the seller.

Points on refinanced mortgages are also deductible, but over time.

"If you refinance, you have to amortize the deduction for points over the life of the loan, but if you refinance again you get to write off the balance of the points from the old refinance," said Vernaci.

TaxesProperty taxes, referred to as "real estate taxes" in Publication 530, are also deductible from your income. Be careful not to deduct escrow money held for property taxes, but not actually used to pay them, say until the next tax period. Local tax refunds reduce your deduction by a like amount.

Home sales Even when you sell your home, it continues to be a tax shelter, for a few homeowners.

"The broker's commission, title insurance, any of the legal fees, administrative costs, inspection fees. Those are selling costs, and as expenses of the sale, they are deductible from the gain," said Vernaci.

Your gain is your home's selling price, minus deductible closing costs, minus your basis. Publication 530 also offers a worksheet to help you figure your basis - the original purchase price, plus capital improvements, minus any depreciation.

Thanks to the 1997 Taxpayer Relief Act, however, many home sellers no longer suffer a taxable gain.

That's because, under the act, sellers get to keep, tax free, up to $250,000 in capital gains ($500,000 for married sellers who file taxes jointly) on sales of homes used as a principal residence for two of the prior five years.

"If the gain is less than the $250,000/$500,000 exclusion, then those sales expenses are a kiss-off. They aren't written off against taxable income, hence they don't save any taxes," Williams said.

Thinking about Buying or Selling?
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No Money To Buy a Home? Try These Savings Tips

For many people, buying their own home is still the American dream. Yet, it remains out of reach for a lot of people, even though the housing affordability index in many areas of the country is as good as it has ever been. But if you're not prepared to buy a house, then the index doesn't mean a thing to you—except, perhaps, to create a painful sting and a constant reminder that you're missing out on a good opportunity to buy real estate at lower prices.

For those who are planning to stay in the same house for a few years, experts are advising now is the time move from renting to owning. The cost of buying and relocating in a short period (a couple years) can make the concept of buying not appealing or cost effective. But if it's for the long term, owning can make perfect sense. But what if you're a first-time buyer or you haven't owned a home in a while, how do you prepare for what is often the largest purchase you'll ever make? Buying a home isn't that difficult but it does require you to make sure that you're in the right financial (and emotional) position to do it. How do you get there when so many other expenses often take precedence? Simple but not necessarily easy steps can help you position to transition from renter to home owner. It starts with getting familiar with your financial picture. If you are aware of what lenders are looking for before you apply for a loan, you'll have a greater chance of getting it and it'll be helpful when you meet with your real estate agent. No time will be wasted looking at homes that aren't in your price range. You will have a clear-cut idea of what you can afford and then you can confidently look for the most suitable home.

Take a keen look at your budget. This presumes that you have a budget. If not, develop one. You can use numerous software programs to create a budget; many are free, or you can even use a basic spreadsheet. If you're self-employed, take a look at free online bookkeeping software offered by Outright.com. It can help you track your income and expenses for your business allowing you to create a better recording system to help you save time and money. Review credit history. If you have no idea how your credit looks, then it's time to give it a review. When you take a look at your credit report, you will be able to see if there are errors or dings from late payments that are negatively affecting your credit score. This gives you a chance to dispute errors or work to clean up your credit before you apply for a home loan. When I reviewed my credit cards, I found a few hundred dollars that had been automatically billed to my credit card in erroneous subscription fees. Your credit card can file a dispute with the companies and credit the funds back to your account. It pays to double check; you just never know what you'll find.

Redistribute your money. Don't think of it as cutting back, but rather as moving your money from one place to another. For example, if you're spending $3 on a specialty coffee five days a week, think about making your java at home and putting that $15 a week into an account that is going to be used to purchase your home. It all adds up and most of the time, we don't realize how much money a dollar spent here or there can accumulate.

Another way to redistribute money is to examine your insurance policies and consider raising the deductibles. A lot of people want low deductibles in case of a loss or an accident, but you can actually save money and redistribute that money into an account that is set aside for purchasing your home. But some statistics show that the average person files a claim only once every 13 years, according to insurance broker, Michael Rice of Thomas Ward Insurance Group. So raising your deductible from, say, $500 to $1,000 can give you an annual premium savings of 10 to 15 percent. Rice also recommends paying your premium in full if the insurance company offers you a discount to do so; some offer a five percent or more deduction and you won't be charged administrative fees for periodic billing.

Keep your eye on the goal. Staying focused on the goal of buying a home will help you to remember that cutting costs now will allow you to have what you want in the long run. Our society is accustomed to instantaneous gratification so delaying the reward can be very challenging but well worth it. Owning your own home and, being able to purchase it while in a down market, is an exciting win-win.

Written by: Phoebe Chongchu / Realty Times

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With Affordability Up, Home Buyers are Starting to Return

Thanks to record low mortgage rates and declining home prices, 55 million families – or half of all U.S. households -- can afford today’s $200,000 median-priced new home, according to figures released by the National Association of Home Builders (NAHB).

"That’s an increase of 17 million households from conditions just two years ago and the best housing affordability number we have seen in years," said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. "We are now seeing the first signs that buyers are returning to the marketplace."

Based on data from the U.S. Census Bureau comparing home prices, mortgage rates and minimum income needed to purchase a median-priced home in February 2007 and February 2009, a typical family today can purchase a house with $20,000 less in household income and save nearly $500 per month on their principal, interest, taxes and insurance. The number of households that can afford to purchase a home today is 55.4 million, compared with 38.4 million two years ago, according to figures compiled by NAHB.

"With affordability up dramatically, reports from our builders in the field indicate that foot traffic in new homes is on the rise and consumer interest is increasing with each passing day. These are encouraging signs that the housing market may be finally reaching a bottom," said Robson.

Entering the crucial spring home buying season, there are other signs that buyers are starting to return to the market.

Single-family permits were up 11 percent in February, new and existing home sales also posted gains and the huge inventory backlog is being slowly whittled down. In a survey for Century 21 Real Estate last month among prospective first-time home buyers who indicated they were likely to purchase a home in the next two years, a majority – 78 percent – said that now is a good time to buy a home. Of those responding to the online poll, 68 percent said that now is a better time to buy than six months ago.

Another sign that consumers are considering jumping back into the housing market is the growing interest in the $8,000 first-time home buyer tax credit included in the recently enacted economic stimulus package. During February and March, 1.5 million visitors logged on to NAHB’s consumer Web site, federalhousingtaxcredit.com, to learn more about the tax credit. Further, a new survey commissioned by Move, Inc. found that nearly 20 percent of those who plan to purchase a home this year are doing so to take advantage of the tax credit, which expires at the end of November.

"With home values in many markets at the lowest level since 2003, an $8,000 tax credit available to first-time home buyers, fixed-rate mortgages under 5 percent, and an outstanding selection of homes to choose from, buyers are starting to recognize that this has the makings for a one-time opportunity to break into the market," said Robson.

Housing is a critical component of the U.S. economy, accounting for about 15 cents of every dollar spent in this country, so any upturn in the housing market should be viewed as good news for the overall economy, said Robson.

Construction of an additional 500,000 single-family homes – the difference between today’s anemic construction rate and one that would move closer to meeting the underlying demand for housing – would generate 734,000 jobs and $35 billion in wages in the construction industry and another 790,000 jobs and $37.7 billion wages in manufacturing, trade, and service sector jobs, he noted.

Additionally, another half-million housing starts would bolster the tax base for government, generating $45 billion in federal, state and local tax revenues. And the benefits go well beyond the completion of each home. Within the first year after buying a home, those half million households will spend about $2.5 billion more on appliances, furnishings and property alterations.

"Clearly, housing will be central to any economic recovery we experience in the months ahead," said Robson.

Written by: Realty Times Staff

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Tips for Home Buyers!

This article was published by Realtor.com
Written By: John Adams

Approaching the task of buying your next home can be overwhelming. There's so much to consider.

How much house can I afford, and how can I find the best loan? Where will I come up with a down payment, and how much will I need? Should I buy a new or resale home, and which will go up in value? Should I use an agent or look at homes on my own?
And these questions are just the beginning. Buying a home is one of the largest financial transactions in your lifetime, yet we don't teach about it in school. You're just supposed to pick it up along the way.

Well, as you start down this road, let me give you a little advice. Here are the two most important things to remember no matter where you are on the road to ownership:

1. You can and should understand everything that is happening in the home buying process. There is nothing, and I mean nothing, that is so complex that it can't be easily explained to anyone with average intelligence, and you've got more than that. Just because we don't apply for a thirty year mortgage once a week doesn't mean we have to take the first one that comes along. You'll need to learn some new terms, apply some new concepts and take the time to understand what you're getting into. If anything happens at any point in the process that doesn't make sense to you, simply demand a full and complete explanation. If it still doesn't make sense, seek help from someone you trust like your CPA, your banker or maybe your friendly online real estate columnist.

2. In the world of real estate sales, YOU are the most important person in the entire process. It's easy to think that everyone else carries more weight than you. The agent talks fast and has an answer for everything. The lender may decline your loan application, and on and on. But the truth is that you, the buyer, are the one person in this transaction that makes it all happen. If you decide to not buy, the entire process comes to a grinding halt. So flex your consumer muscle and take command of this process. Surround yourself with a team of professionals that you have confidence in and make them work for you.
If you plan from the beginning to approach the home buying process intelligently and with confidence, you are much more likely to emerge at the end of the day with a house you'll be proud to call home, and the knowledge that you made the right decision.

Thinking about Buying or Selling?
Call Alvin's Team Today! 877-651-7810
Or visit our website: www.LivingLakeTahoe.com