The first-time home buyer tax credit ends Nov. 30. Is it possible to buy in the next two weeks and still close in time to collect it? Some professionals say yes. “It still can be done in six weeks," says RE/MAX Town & Country associate Lynn Ayers in West Chester, Pa. Economist Kevin Gillen of Econsult predicts a mad rush to close as the deadline nears. Bruce Hahn, president of the American Homeowners Grassroots Alliance in Arlington, Va., is pushing for an extension and an expansion of the credit. Legislation to do that is critical, he says, because the recovery has so far been mostly jobless and people need more time to get their feet on the ground in order to buy. Source: Philadelphia Inquirer
Builders may not be putting up as many houses as they did during the boom, but what they are building, they’re building better. According to the J.D. Power and Associates 2009 U.S. New-Home Builder Customer Satisfaction Study, overall customer satisfaction increased for the second consecutive year, up 32 points to 811 on a 1,000 point scale. Satisfaction with the quality of the home also grew, to 825 up from 799. The rate of customer-reported problems dropped to 9.55 problems per home down from 11.51 problems in 2008. "Fierce competition among home builders has led to a market where only the strongest companies have survived," said Paula Sonkin, vice president of the real estate and construction industries practice at J.D. Power and Associates. "This is great news for new-home buyers since builders are offering unprecedented high levels of quality, value and service at relatively low prices." Various California markets, plus Phoenix and Tampa, Fla., recorded the greatest gains in overall satisfaction. J.D. Powers rates satisfaction on nine criteria: workmanship/materials; builder’s warranty/customer service staff; price/value; builder’s sales staff; construction manager; home readiness; recreational facilities provided by the builder; builder’s design center; and location. Source: CNN/Money
Investors are returning as the real estate market recovers. BusinessWeek’s real estate guru Marc Roth points out these opportunities, which he says make sense if investors are willing to look over the property carefully and ask tough questions. Options investors should consider include: Buying a single-family house–this could be a first home or a dream home or a home to rent out; Buying a multi-family investment property; Snapping up a vacation property–there are deep discounts to be found in high-end resort areas; and investing in a Real Estate Investment Trust. REITs were hit hard in the downturn, but many are on their way back. Source: BusinessWeek
Best Regards,
Kurt Galitski
The Kurt Real Estate Group
Weichman Realtors
877-957-6677
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