Home Buyers Tax Credit News

Wanted to share a note I received this morning from the National Association of Realtors. Just copy and paste the links at the end for more details of what this may mean for you. This is great news for our economy! Home prices in Phoenix are great for buyers and interest rates are still at historically low levels! Check my website under Market Data & My Blog for updated Lending information.

Dear Krista,
You did it. You’ve succeeded in achieving a huge victory for real estate. Congress heard you on the need to both extend and expand the homebuyer tax credit to continue stimulating the housing sector of the economy. The Senate voted 98-0 on Wednesday and yesterday the House voted 403-12 on legislation that includes the extension and expansion of the credit. The President is expected to sign the legislation, perhaps as early as today.
Thank you for making this victory happen. Your letters in response to our Call for Action made a very big difference, as did the thousands of REALTOR® phone calls, visits by Federal Political Coordinators—all members of NAR—in getting this legislation passed. This is a great victory for the economy, for homebuyers, and for all of you in real estate. You made your case to Congress. We deeply appreciate your commitment and involvement on this issue and trust your continued support will follow in the weeks ahead on all our future Calls for Action.

More information on the tax credit and what it means to you:
Changes to the Homebuyer Tax Credit Law:
http://www.realtoractioncenter.com/realtor-party/documents/2009-NAR-Issue-Brief-Homebuyer-Tax-Credit-Changes-1104-1107.pdf
Frequently Asked Questions About the New Bill:
http://www.realtoractioncenter.com/realtor-party/documents/2009-NAR-FAQ-Tax-Credit-Changes-1105-1236.pdf

________________________________________
From the REALTOR(R) Action Center.

 

Some encouraging news on the real estate front about First Time Buyer’s Tax Credit, plus some new additions aimed at the housing recovery – Read the Fox News article here:

 

Time Saver Tip

Ever get a phone call with no I.D. and wonder who it was? I Googled a missed # and found www.800notes.com.
In their search, you just type in the number. Now I have a better idea if it’s legitimate or not, based on the comments already posted.

 

Asthma can Turn on a Dime

Scary morning. Son had severe asthma attack complicated with croup. Puffer given (hadn’t been needed for years). Called 911, had the FD here; ER for more treatment. He is better now, but will be watching/listening. Glad he responded to all the meds Not out of the woods yet.

 

Beautiful sunny day in Phoenix, enjoyed the drive to Mesa to attend the ARMLS Technopalooza. Learning more about social networking. Good info!

 

Girls Night Out Dance Group Fundraiser

Thank you girlfriends for supporting Team Obi!

Thank you FOX10 Phoenix for doing the segment for our TEAM OBI dance fundraiser! Alexis Vance from FOX10 News came out to Fusion Movement Dance Studio in Scottsdale to do a segment on Jan Olson’s “Girls Night Out” dance group’s fundraiser for Team Obi. We received some positive emails and everyone that attended the free classes had a blast!

If you missed the class, but love the cause, you can check out TEAM OBI at http://www.mrsnv.com/evt/e01/team.jsp?id=2344&tid=23275

Funds raised go to Asthma Research, sending kids with asthma to Camp Not-A-Wheeze – The American Lung Association’s traditional summer camp experience for children with asthma. Children are accompanied 24 hours a day by licensed medical volunteers and attend asthma management class once a day. Camp evaluations have shown that return campers have a 68% decrease in emergency room visits, a 17% decrease in hospitalizations, and 18% fewer missed school days as compared with first-time campers.

Happy just to watch!

Good Times!

Click icon below for the FOX10 Phoenix News Segment Promo of our Team Obi Fundraiser:

 

PHOENIX ASTHMA WALK-TEAM OBI

 TEAM OBI is participating in the Asthma Walk, Saturday, April 4 (Obi’s Birthday) to honor Chris’ best friend, Obi Abarikwu, who passed away 1-5-08 from an asthma attack.  He was only 10.  It is incredible that in this day and age people can actually die from Asthma.  Along this journey we have discovered that many others, children and adults, have died from an asthma attack.

Please consider sponsoring, or joining us. Christopher and Michael Kennedy.  To contribute to our fund raising efforts, please click:

http://www.mrsnv.com/evt/e01/team.jsp?id=2344&tid=23275

Then select Christopher Kennedy and/or Michael Kennedy, and follow the simple instructions.  You will get an email from your credit card donation for your tax purposes.

Funds raised by our team go towards Asthma Research, Camp-Not-A-Wheeze, Asthma 101, and Open Airways for Schools.  All fantastic programs that ultimately help kids with asthma! Detailed information on these programs can be found at www.PhoenixAsthmaWalk.org.

Who is Obi? Obi was a typical kid, who enjoyed all kinds of sports, and his asthma did not hold him back from participating – he carried his puffer and always reacted well to it.  Obi sang in his church choir, loved playing the trumpet in the school band, and was involved in Cub Scouts and Student Council.  He was a lively person and people were drawn to him because of his friendliness and his great sense of humor.  Obi is really missed by all those he touched in his short and busy life.

Thank you! We truly appreciate the support!

 

Krista Kennedy’s February 2009 Phoenix Housing Market Update

Like National Weather,

the Phoenix Housing Market is Unique

to Location and Opportunities

Watch this video to learn what is REALLY happening in the Phoenix Housing Market. 

www.thinkbigworksmall.com/mypage/2527/5364/699158

When finished viewing go to my web, www.KennedyConnections.com, click on “My Blog and Market Stats” for more details with Historical Charts and Graphs.

You can also search the Arizona Regional MLS on my website and see the incredible deals for yourself.  We are now seeing multiple offers at the lower price points ($200K and less) which is causing many properties to sell for more than the asking price.  Feels like the bottom of the market to me. 

Once the foreclosure market is absorbed, I think we will see the market really turn for the better of our economy.  Be prepared before you jump in, or you might miss out.  It is a great time for first time buyers, investors, moving “up,” or purchasing that vacation property.

 

Phoenix to Receive $$ for Neighborhood Stabilization

The Housing and Economic Recovery Act (2008) has prompted the City of Phoenix to outline its needs to help ’stop the bleeding’ of the real estate market from all the foreclosures in the city.  Beginning December 2008, the City of Phoenix will be getting $39.4 Million for the Neighborhood Stabilization Program (NSP).  The actual flow of money likely won’t begin until January 2009.  This was designed to help address foreclosed properties and help rejuvenate neighborhoods most affected by abandoned homes.  Read about how they determined where to target the biggest need, and read the city’s draft and amendment to the NSP here:  http://www.phoenix.gov/NSD/nspa.html

Yes challenging times out there, but I am optimistic about our country’s future.  The real estate market in Phoenix is hot at the $350,000 below mark.  I expect things to pick up even more, especially since interest rates came down.  There are fantastic opportunities out there for first time home buyers.  It is a great feeling to hand someone the keys to their first home!

 

The Writing Was On the Wall (Street)

You need to look at this link a lender forwarded to me http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=&pagewanted=1

If nothing else read paragraphs 3, 7 & 8.  This disaster was all spelled out in Sept. 1999!!  I’m all for people purchasing homes, but I would never want to see a client risk getting into something they just can’t afford!