Really?

I honestly sometimes wonder about some agents. The other day I tried to show a condo. The listing agent gave me the lock box code so that I could get the key to show it (unit #2); she warned me that the lock box was sticky and I'd have to mess with it a couple of times to get the key out.

So I drive Zack to the property to show it to him and the lock box is definitely stuck. So stuck, in fact, that neither of us could get the key out even after trying for close to 5 minutes. I called the listing agent to no avail - all I got was her voicemail. There was definitely no way we were going to be able to see unit #2.

Luckily we were taking a look at another unit (unit #3) in the building so it hadn't been a complete waste of time to drive there. The listing agent for unit #3 actually met us there to let us in. I told her that I'd tried to show unit #2 and couldn't get the key out. She told me that she wasn't surprised - many people had told her that; she didn't think unit #2 had ever actually been shown because no one could get in and unit #2's agent never returns calls or has even tried to put on a new lock box. Really?? I can not believe it when I hear things like this - if that was my listing, you better believe I'd have a brand spanking new lock box on that unit before you can say the words "lazy agent". No, wait, I wouldn't even have done that - I would have personally accompanied every showing to be sure that the buyers can get in to see the unit!

Meanwhile, the poor owner for unit #2 has had his property on the market for over 200 days. And in that time, the price has been reduced and reduced and is now down to $209,000. And the worst part is, I'm sure he has no idea that his agent is not actually even showing his property.

And here's another kicker... I see photos like this all the time on listings. Really? As if in the age of digital cameras, you couldn't take the time to snap ONE MORE decent shot of the building without your finger covering the lens?

First Time Homebuyer Tax Credit UPDATE!

Congress passed the stimulus bill late Friday night. What does this mean for the housing market?

It means we're about to see an influx of buyers. One major item of note is a revision to the First Time Homebuyer tax credit. This is GREAT news for the housing market and will really be enticing for first time buyers. Here's how it will work:

To qualify for the credit, you must be a first time homebuyer or have not owned a home in the past 3 years. If your income is over $75,000 ($150,000 for married couples filing taxes jointly), the credit starts to phase out and is completely phased out after $95,000 of income ($170,000 married filing jointly).

If you purchase a home after Dec. 31, 2008 and before Dec. 1, 2009, then when you file your taxes, you'll be entitled to claim the credit. The credit is now $8,000 (or 10% of the purchase price of the home, whichever is lower), up from the previous $7,500 credit. The best part is - YOU NO LONGER HAVE TO REPAY IT! The previous law required the $7500 tax credit to be repaid, interest free, over a 15 year period. With the new law, you won't have to repay the credit unless the home ceases to be your main residence within 3 years. This is FREE MONEY, people.

This means: if you make less than $75,000 as an individual, and purchase a home for $80,000 or more, and you continue to live in the home as your main residence for 3 years, you're entitled to the full $8,000 credit and do not have to repay it!

You can use this money any way you like - buy new furniture, pay down your mortgage, fix up your house, buy a car, start a business, go on a trip, invest it... the possibilities are endless!It's money for YOU, no strings attached!

How you claim the credit:

When you file your taxes after buying the home, you'll fill out a worksheet which you'll attach to your 1040 (tax return). If, say, you otherwise would have been getting a $1000 federal tax refund, you'll now be getting a $9000 refund (assuming you qualify for the full credit)! Or, on the flip side - if you would have owed $1000 in taxes, you now will actually be getting a $7000 refund!

Once the IRS posts guidelines, I will provide a link to the tax credit worksheet that you can use to claim the credit, so keep checking back! And as always... contact me if you have any questions at all!

More Green

As a continuation from the previous message, here are some medium-cost ways to go "green" in your home:

• Conduct an energy audit to determine how you can implement efficient projects in your home cost-effectively.
• Tune up your HVAC (heating, ventilation, & air conditioning) to keep it running efficiently
• Replace carpet with no-VOC (volatile organic compounds) carpeting.
• Instead of normal hardwood floors, consider using bamboo floors (bamboo grows faster than any other plant - up to 47 inches a day! - therefore it is less depletive to the environment)
• Install a tankless water heater (water is heated on-demand, rather than stored in a tank and constantly heated, thus reducing energy needs)
• Insulate attic and other areas to reduce temperature loss.
• Buy recycled products!

Eileen's Going Green

So, I'm now working toward getting the brand-new GREEN/Sustainable Property designation recognized by the National Association of Realtors. It's the first designation of its kind and I think GREEN is the wave of the future so I'm trying to keep up!

Here are some low-cost ways to make your home "green":

-Use energy-efficient CFL or LED lightbulbs

-Install low-flow showerheads and faucets to save water

-Start a compost pile

-Insulate your hot water heater to reduce heat loss

-Weatherstrip and caulk doors & windows

-Collect rainwater to water plants

-Paint with low-VOC paints to keep chemical fumes out of your home & body

-Install programmable thermostat so the heat or A/C turns down while you're at work

-Install motion sensors so lights will automatically turn off when room is not in use

-Take advantage of daylighting

-RECYCLE!