Thinking of buying a home in the Pensacola Area. There’s never been a better time to buy a home. Really!!! That’s because, thanks to the efforts of the NATIONAL ASSOCIATION OF REALTORS® (NAR), Congress is now offering a new $8,000 tax credit to help first-time homebuyers, like yourself, purchase a home. If you qualify and buy a principal residence before December 1, 2009, then you’re eligible for the credit—allowing you to subtract 10% of the purchase price of your home up to $8,000 from your tax bill. Also, the FHA at the urging of NAR has changed the rules to make money available to you at closing! Visit
www.HousingMarketFacts.com for more information. So, why wait? Please contact me for more information.
The Singleton Team
Darryl Singleton, GRI, eAgent
850-554-9614
LaDawn Singleton, GRI
850-554-9513
Keller Williams Realty Pensacola
Email:
ContactUs@SingletonTeam.comWebsite:
http://PensacolaHomeCenter.com
Not everyone know, but Pensacola is the home of the Navy's World Famous Blue Angels. This weekend, we a hosting the Blue Angel airshow over Pensacola Beach. If you have never seen the Blue Angel preform you really need to make plans to see one of their shows. Here is a link to their schedule
http://www.visitpensacola.com/static/index.cfm?contentID=459 If you are in the Pensacola area, they practice on Wednesdays at Pensacola NAS during the season and it is open to the public. Make a practice if you can't go to a show.
The best show will be Pensacola's second show of the year on November 13 & 14. At this show the are many planes on static display. You are able to walk inside some of the larger planes and be able to see many others up close. This is the part of the show this weekend that is not available due to it being on the beach.
Make plans next November and come see us and the Blue Angles.
Everyone is interested in what the rates are here in Pensacola. I received information from Amy Lord, with Gulf Coast Community Bank in Pensacola, FL and she states that the interest rates on March 3, 2009 for
"30 year rates are starting at 5% with no origination or points. 15 year rates are starting at 4.75% also with no origination or points. Please keep in mind that there are adjustments for credit score, occupancy, loan to value, and other criteria." This is great news for buyers.
I am asked often if “NOW” is a good time to sell my home. There are many ways to look at it, but lets take the two most common – Sellers who are wanting to buy a bigger home “Moving Up” and Sellers who are wanting to purchase a smaller home “Moving Down”.
Lets start with the those that are “Moving Up”. I believe that this is a great time for these sellers. Yes, you are not going to get what you could have a few years ago, but you can make it up on the purchase of the more expensive home. Lets just say that the market has dropped 20% on all real estate. If your home was worth $150,000 a few years ago, now it would have a value of $120,000. That is a reduction of $30,000. Now, lets say that you are planning to purchase a home that is valued at current market value of $200,000. That same home would have been worth $240,000 a few years ago. That is a $40,000 drop in value. You might get less for you home now, but you could be gaining an extra $10,000 over the decrease in value of your home.
For those that are “Moving Down” the numbers are a little different. If your home's value is currently $120,000, it is possible that you would be able to purchase a newer smaller home for the same amount. That same new home a few years ago would have been equal to the same $150,000 of your home's previous value. With this type of move, it just depends on what you are wanting to purchase. If you want to transfer your current home's value to a newer smaller home, then yes this is a good time to sell your home.
If you are looking to buy a home for less than what you are selling your current home for, then the same applies, but only the reverse, as those that are “Moving Up”. In this case, it would benefit you to wait until the market corrects and the value of your home increases.
What it boils down to is, the market has had an affect on all real estate. I would advise you to speak to a real estate agent in your area and/or the area that you are planning to move to find out what is best for you.
Labels: Real Estate
Watch this space for the new real estate information blog for Pensacola, Gulf Breeze, Milton, Cantonment, Century, Molino, Perdido Key, Pace, Jay, Pensacola Beach, Navarre and Navarre Beach Florida from Darryl and LaDawn Singleton. Look to us for timely news, market updates, hot new listings and more!
