Now is a smart time to buy!!

HomeSteps^® 2009 Nationwide SmartBuy Purchase Program

Promotion Dates:
Initial offers received July 17, 2009 - October 30, 2009, with escrow closed by December 31, 2009.

Homebuyers:

Introducing SmartBuy, an exciting nationwide purchase program brought to you by HomeSteps (Freddie Mac). As a potential homebuyer you may be wondering, what makes a HomeSteps home a SmartBuy?

Start with the 2-year, comprehensive HomeProtect^® Home Warranty offered on HomeSteps homes. Add to that, for a limited time, our generous 3.5%* Buyer’s Closing Cost offer! And know that HomeSteps homes are priced at fair market value. All add up to a SmartBuy.

As part of the SmartBuy purchase program, HomeSteps is offering:

• Comprehensive two-year HomeProtect** Home Warranty
• Up to a 3.5%* Buyer's Closing Cost offer (must be submitted upon initial offer)
• HomeProtect** Appliance Discount (up to 30% savings on name brand appliances)

Now, no matter where you live in the United States, owning your own home may be more affordable than you think! If you currently rent or are considering homeownership, now is the time to make a SmartBuy. The HomeSteps SmartBuy purchase program may help you on your way to homeownership, with a little added peace of mind.

To qualify for this offer:

1. Complete the SmartBuy Buyer’s Closing Cost registration form below to obtain your coupon.
2. Ask your real estate agent to show you the available HomeSteps homes in your area.
3. Ask your real estate agent to request the HomeProtect Home Warranty upon initial offer.
4. Present your completed Buyer’s Closing Cost coupon upon initial offer on a HomeSteps home.
5. Receive your SmartBuy Buyer’s Closing Cost offer, upon qualified closing.
6. Receive your Home Protect** 2-year Home Warranty upon qualified closing.

Don’t have a real estate agent yet? Click here to search for an agent near you!

This offer is only valid until October 30, 2009, so start searching for your SmartBuy home today at HomeSteps!

HomeSteps will pay up to 3.5%* of your purchase price in closing costs for initial offers presented on HomeSteps homes between July 17, 2009 - October 30, 2009.

*As an example of your savings, if the purchase price of your home is $150,000, HomeSteps will pay up to $5,250 of your closing costs. This savings is money that you can use for moving expenses or new furnishings. (Please note HomeSteps will only pay up to 3.5%* of your purchase price in closing costs, not to exceed the total closing costs. For instance, if your purchase price is $125,000, and your closing costs are $4,250, HomeSteps will only pay $4,250, an amount equal to 3.4% of your purchase price.)

Now is a smart time to buy, and First-Time Homebuyers may have the opportunity to also take advantage of the $8,000 Tax Credit ***

*** Not all buyers will qualify for the tax credit. Please see a qualified tax professional for details.

SmartBuy Terms and Conditions:

In order to redeem a SmartBuy Buyer’s Closing Cost offer, homebuyers must place an initial offer on a HomeSteps home July 17, 2009 - October 30, 2009; sale must close escrow by December 31, 2009.

Home Protect^®** 2-year Home Warranty is valid on HomeSteps (Freddie Mac-owned) homes that meet the following criteria:

• Single family residences located in detached houses, 1-4 unit buildings, condominiums, cooperative associations or town homes
• Owner-occupied, primary residence homes; homes purchased for rental or commercial purposes are not eligible; second homes or vacation homes are not eligible
• Sales price is $25,000 or above
• Home located in the 48 contiguous states and the District of Columbia
• In Georgia, warranty product is a 1 year warranty, with auto renewal for 2nd year
• Ask your real estate agent to request the HomeProtect Home Warranty upon initial offer.

Closing Cost Offer Terms:

• In order to redeem the SmartBuy Buyer’s Closing Cost coupon, buyer must present it upon initial offer on a HomeSteps home, or coupon will not be valid.
• Coupon must be attached to initial contract when submitted for execution.
• Only HomeSteps (Freddie Mac-owned) homes are eligible.
• This offer is valid in the United States (including PR, VI and GU).
• Home Protect** warranty and appliance discount are only valid on homes located in the 48 contiguous states and the District of Columbia.
• Initial offers submitted on or after July 17, 2009, and on or before October 30, 2009, are eligible.
• All sales must close escrow on or before December 31, 2009, to be eligible.
• *This closing cost offer is valid only on owner-occupied, financed homes; 1% closing cost offer on owner-occupied, cash sales.
• Investor sales are not eligible for Buyer’s Closing Cost offer.
• SmartBuy offers are not valid on Auction, Sealed Bid and Bulk Sale properties.
• SmartBuy offers are not transferable and may not be combined with any other offer.
• Seller reserves right to remove homes from “SmartBuy” promotion or end promotion at any time.
• This offer is only valid where not prohibited by law.

Help for America's Homeowners

Avoiding Foreclosure

Your first step is to call your lender. If you are having difficulty paying your mortgage on time, it's important to act now before things get so bad that you are facing foreclosure. Your biggest ally if you encounter difficulty paying your mortgage on time is often your lender. Don't wait – call them as soon as you know you are having problems.

Your lender – also known as a servicer – has a number of options to help you stay in or sell your home. These options include forebearance, repayment plans and loan modifications – as well as relief under the new Federal housing plan. You can find their contact information on your mortgage statement or coupon book.

• Your next step: Preparing for the conversation with your lender.
  

Are You Facing Foreclosure?

There are resources available to help you protect your home.

• Attend a Foreclosure Prevention Workshop in Your Area
• Where to Get Help
• Working With Your Lender
• Identifying a Credit Counselor
• Special Circumstances to Stop Foreclosure
• Does Freddie Mac Own Your Mortgage?

Help for America's Homeowners

Please use the self-assessment tools provided on MakingHomeAffordable.gov to see if you are among the 7 to 9 million homeowners who may be able to benefit from Making Home Affordable.

REO Rental Initiative

The REO Rental Initiative is a temporary rental initiative under which qualified, former owner-occupants and tenants will be offered an option to lease properties in which they reside that have been acquired by Freddie Mac as a result of foreclosure.

Introducing SmartBuy, an exciting nationwide purchase program brought to you by HomeSteps (Freddie Mac).

HomeSteps^® 2009 Nationwide SmartBuy Purchase Program

Promotion Dates:
Initial offers received July 17, 2009 - October 30, 2009, with escrow closed by December 31, 2009.

Homebuyers:

Introducing SmartBuy, an exciting nationwide purchase program brought to you by HomeSteps (Freddie Mac). As a potential homebuyer you may be wondering, what makes a HomeSteps home a SmartBuy?

Start with the 2-year, comprehensive HomeProtect^® Home Warranty offered on HomeSteps homes. Add to that, for a limited time, our generous 3.5%* Buyer’s Closing Cost offer! And know that HomeSteps homes are priced at fair market value. All add up to a SmartBuy.

As part of the SmartBuy purchase program, HomeSteps is offering:

• Comprehensive two-year HomeProtect** Home Warranty
• Up to a 3.5%* Buyer's Closing Cost offer (must be submitted upon initial offer)
• HomeProtect** Appliance Discount (up to 30% savings on name brand appliances)

Now, no matter where you live in the United States, owning your own home may be more affordable than you think! If you currently rent or are considering homeownership, now is the time to make a SmartBuy. The HomeSteps SmartBuy purchase program may help you on your way to homeownership, with a little added peace of mind.

To qualify for this offer:

1. Complete the SmartBuy Buyer’s Closing Cost registration form below to obtain your coupon.
2. Ask your real estate agent to show you the available HomeSteps homes in your area.
3. Ask your real estate agent to request the HomeProtect Home Warranty upon initial offer.
4. Present your completed Buyer’s Closing Cost coupon upon initial offer on a HomeSteps home.
5. Receive your SmartBuy Buyer’s Closing Cost offer, upon qualified closing.
6. Receive your Home Protect** 2-year Home Warranty upon qualified closing.

Don’t have a real estate agent yet? Click here to search for an agent near you!

This offer is only valid until October 30, 2009, so start searching for your SmartBuy home today at HomeSteps!

HomeSteps will pay up to 3.5%* of your purchase price in closing costs for initial offers presented on HomeSteps homes between July 17, 2009 - October 30, 2009.

*As an example of your savings, if the purchase price of your home is $150,000, HomeSteps will pay up to $5,250 of your closing costs. This savings is money that you can use for moving expenses or new furnishings. (Please note HomeSteps will only pay up to 3.5%* of your purchase price in closing costs, not to exceed the total closing costs. For instance, if your purchase price is $125,000, and your closing costs are $4,250, HomeSteps will only pay $4,250, an amount equal to 3.4% of your purchase price.)

Now is a smart time to buy, and First-Time Homebuyers may have the opportunity to also take advantage of the $8,000 Tax Credit ***

*** Not all buyers will qualify for the tax credit. Please see a qualified tax professional for details.

SmartBuy Terms and Conditions:

In order to redeem a SmartBuy Buyer’s Closing Cost offer, homebuyers must place an initial offer on a HomeSteps home July 17, 2009 - October 30, 2009; sale must close escrow by December 31, 2009.

Home Protect^®** 2-year Home Warranty is valid on HomeSteps (Freddie Mac-owned) homes that meet the following criteria:

• Single family residences located in detached houses, 1-4 unit buildings, condominiums, cooperative associations or town homes
• Owner-occupied, primary residence homes; homes purchased for rental or commercial purposes are not eligible; second homes or vacation homes are not eligible
• Sales price is $25,000 or above
• Home located in the 48 contiguous states and the District of Columbia
• In Georgia, warranty product is a 1 year warranty, with auto renewal for 2nd year
• Ask your real estate agent to request the HomeProtect Home Warranty upon initial offer.

Closing Cost Offer Terms:

• In order to redeem the SmartBuy Buyer’s Closing Cost coupon, buyer must present it upon initial offer on a HomeSteps home, or coupon will not be valid.
• Coupon must be attached to initial contract when submitted for execution.
• Only HomeSteps (Freddie Mac-owned) homes are eligible.
• This offer is valid in the United States (including PR, VI and GU).
• Home Protect** warranty and appliance discount are only valid on homes located in the 48 contiguous states and the District of Columbia.
• Initial offers submitted on or after July 17, 2009, and on or before October 30, 2009, are eligible.
• All sales must close escrow on or before December 31, 2009, to be eligible.
• *This closing cost offer is valid only on owner-occupied, financed homes; 1% closing cost offer on owner-occupied, cash sales.
• Investor sales are not eligible for Buyer’s Closing Cost offer.
• SmartBuy offers are not valid on Auction, Sealed Bid and Bulk Sale properties.
• SmartBuy offers are not transferable and may not be combined with any other offer.
• Seller reserves right to remove homes from “SmartBuy” promotion or end promotion at any time.
• This offer is only valid where not prohibited by law.

Thinking about owning a home?

This link has some excellent information for first time buyers.

http://www.freddiemac.com/creditsmart/pdf/YourCreditYourHomeYourFuture.pdf

I will be happy to answer any questions you may have :)

Felicia Hood

Realtor/Coldwell Banker

felicia@felicanicolehomes.com

803-235-6398

Get your $8,000 HUD tax credit now

HUD tweaked stimulus tax incentive so first-time home buyers get instant assistance with down payment and closing costs.

NEW YORK (CNNMoney.com) -- First-time homebuyers will now have access to quick cash to help them with their down payments.
On Friday, the U.S. Department of Housing and Urban Development (HUD) announced that first-time homebuyers using FHA-approved lenders can now get an advance on the $8,000 tax credit created by the stimulus package and apply it toward their down payments or closing costs.
"We believe this is a real win for everyone," said HUD secretary Shaun Donovan in a speech before the National Association of Homebuilders (NAHB). "Families will now be able to apply their anticipated tax credit toward their home purchase right away. What we're doing today will not only help these families to purchase their first home but will present an enormous benefit for communities struggling to deal with an oversupply of housing."
As part of the stimulus package, Congress created a refundable first-time homebuyers tax credit in hopes of helping on-the-fence buyers to take the home-purchase plunge. But buyers couldn't collect the $8,000 credit until tax time, rather than at closing time -- when it's needed.
The delay created an obstacle to reigniting the housing market because most first-time buyers -- the ones who would buy much of the available inventory -- have only saved enough to cover 4% of the purchase price, according to the National Association of Realtors.
The mechanics of the new program, according to NAHB economist Robert Dietz, allow lenders to purchase tax credits from the buyers and then collect the rebate from the IRS. Homebuyers must still come up with FHA's mandatory downpayment of 3.5% on their own, but they can use the tax credit to lower their principal balance and save on monthly payments.
The initiative also authorized downpayment help programs already offered in Colorado, Missouri, New Jersey, Pennsylvania, Tennessee, Washington and other states. To quickly infuse cash into their housing markets, the housing finance authorities in these states created bridge loans to allow buyers to borrow against the $8,000 credit and then repay it with their tax refunds.
There are also non-profit groups, such as ones affiliated with the National Home Ownership Programs for the community organizer NeighborWorks America, that offer bridge loans for downpayment assistance that will be repaid with the tax credits.
Under the state and non-profit programs, the tax credit can provide the entire downpayment; there's no requirement that homebuers put 3.5% down.
The first state to launch such a plan was Missouri, which rolled out its Missouri Housing Development Commission Tax Credit Advance Loan program on January 14 -- a month before Congress approved the stimulus package. Since then, Missouri has approved applications by more than 360 borrowers and closed on 166 of them.
Lamar Cherry and his wife, Chrishanna, used the program to augment their down payment when they bought their home in Kansas City.
The couple purchased a four-bedroom, three-bath split-level home for $150,000, putting about 6% down. Much of that $9,000 came from the loan program, which they tapped so they wouldn't have to drain their reserves.
"We had money saved up that we were going to use for the down payment," said Cherry. "Now we can use some of that to buy some things we need for the house."
At closing, the Cherrys, like all buyers in the program, signed for their first mortgage, plus a second mortgage issued by the state. The second note is good for 6% of the price of the home, up to $6,750; there is a $350 set-up fee, but no interest is charged if the debt is repaid by June 2010.
In Missouri, borrowers can only access $6,750 of the $8,000 credit for down payments. "We wanted them to have a cushion below that $8,000 in case other tax liabilities show up," said Greg Spurgeon, the single-family homeownership administrator for the Missouri Housing Development Commission.
If borrowers don't pay off the note, it becomes a 10-year fixed-rate mortgage with an interest rate one-half percentage point above that of their first mortgages. For example, borrowers paying 6% on their first mortgages would be charged 6.5% on the second.
So far, Spurgeon said, a significant proportion of participating homebuyers have repaid their loans. He expects most of the others to do the same before the deadline.
Cherry has claimed the federal tax credit on his 2008 taxes, but he hasn't gotten his refund yet. He definitely intends to repay the loan before the 2010 deadline because, he said, not doing so would add about $75 a month to his house payments.

Getting Your Home Ready To Sell

Getting My Home Ready to Sell

Timing your Sale

Choosing the time of year to put your house on the market is an important decision. You can use the predictability of these cycles to your advantage.

• March through September are normally the most active selling time for residential real estate.
• Sales activity usually slows from October through February.

Handling Pre-sale Preparation

If you make the right improvements when fixing up your property, you increase the odds of selling it quickly for top dollar.

• Start the pre-sale fix-up process by getting an outside opinion of your house's strengths and weaknesses.
• Don't spend big bucks on major improvements. For example, don't install a new roof just before putting your house on the market. A wiser plan is to give buyers a credit to cover the repair cost.

Key Exterior Improvements

Buyers begin forming their opinions of your house long before they go inside. Curb appeal (the external attractiveness of your property) is critically important. Here are some tried-and-true ways to enhance your house's curb appeal.

• Painting: Paint your house's exterior before you put it on the market.
• Lawn: Keep your lawn freshly mowed and neatly trimmed.
• Sidewalks: Sweep your sidewalks daily.
• Shrubbery: Remove or replace any dead or dying trees, hedges or shrubs and prune anything that looks scraggly or overgrown.
• Flowers: Filling flower beds with seasonal flowers is an inexpensive way to add color and charm to your property.
• Repairs: Be sure that all gutters and down-spouts are in place and clean. Replace missing roof shingles and broken or cracked windows. Check exterior lights to be certain that they're working properly.
• Windows: Keep your windows spotless inside and out throughout the marketing period.
• Eliminate or hide clutter: Clear everything out of the garage that you don't need.

Key Interior Improvements

Curb appeal draws buyers into your house. But appealing interiors make the sale. Little things you do generally give the biggest increase in value. Concentrate on the following list of essential improvements.

• Clean, scrub and polish: Keep your stove, oven, refrigerator, microwave oven and other appliances spotlessly clean inside and out.
• Eliminate odors: Buyers will notice strong smells as soon as they walk through your front door. Eliminate smoke, mildew, and pet odors.
• Fix drippy faucets: If any of your sinks or bathtubs drain slowly, unclog them.
• Get rid of clutter: Keep clutter off of kitchen counters and dirty dishes out of the sink.
• Make cosmetic improvements: Painting isn't expensive if you do it yourself, but be careful when selecting interior colors. Avoid cherry red, canary yellow, cobalt blue, emerald green, and other bold colors with strong visual impact.

Pre-marketing Property Inspection

Prudent purchasers will have your property thoroughly inspected before they buy it. The best defense is a good offense. Discover everything wrong with your house before putting it on the market.

• Damage control: If you discover the problem before marketing the house, you can disclose it to prospective buyers with a repair estimate.
• Financial planning: It's very important to have a realistic estimate of your present house's net proceeds of sale before committing to buy a new home.
• Fine tuning: Professional property inspectors can help you spot minor defects: such as dirty filters in the heating system; ventilation problems in the basement, garage or crawl space; blocked gutters; loose doorknobs; stuck windows; a missing chimney hood or spark arrester, and so on.
• Peace of mind: The inspector alerts you to health and safety precautions you should take.

Staging a House

Staging a house goes way beyond your efforts to make it look nice before having friends over for a dinner party. Here are some staging tips that you can use to increase your house's emotional appeal.

• Kitchen: Aromas from fragrant goodies like freshly baked gingerbread or just-brewed coffee bring back wonderful memories of home.
• Bathrooms: Always have fresh towels in bathrooms. Buy new shower curtains. Put new soap in the soap dishes.
• Clear everything off your refrigerator: Most folks use magnets or tape to stick everything from vacation snapshots and finger-painting masterpieces to notes for the kids and "to do" lists on the surface of their refrigerators.
• Comfort: Keep your house warm in the winter and cool in the summer. A house that's too hot or too cold isn't inviting.
• Flowers: Vases of colorful, fresh flowers spotted throughout the house make a wonderful impression on prospective buyers.

This is the buying opportunity of our lifetime!!

Warren Buffet says, "A simple rule dictates my buying: Be
fearful when others are greedy, and be greedy when others are
fearful." While Mr. Buffet was writing about buying stocks, the same
can be said for housing today.

Housing issues have permeated the economy both locally and
nationally. This week, one index that tracks housing prices,
Case-Shiller Home Price Indices, indicated home values fell the
most since 1968, declining 18.5% in December from the year before.
Looked at from a different perspective, this means home prices have
fallen to levels not seen in six to twelve years, depending on individual
markets. Following the Case-Schiller report was the report from the
National Association of Realtors (NAR) recently. The NAR reported that
home prices for the month of January fell by 14.8%.


The bright spot though in contrast was that the number of homes sold
in December increased. Home buyers from coast-to-coast have been buying
distressed properties at the rate of 45% of total sales.
Recognizing that now is the time to buy, everyone from
those looking to purchase their first home to seasoned real estate
investors is buying homes today. Bruce Norris, the head of an
investment group in Southern California, expects to buy at least 100 homes
this year as, "This is the buying opportunity of our lifetime."

Fundamentals Point to Strength
The basic fundamentals of the housing market point to higher prices
ahead. Almost half of the properties being sold today are existing homes
that are either owned by banks or homes on which banks are accepting short
sales, allowing them to be sold for less than what is owed.