First Time Homebuyer Tax Credit.

A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid.

Interest Rates are Near Historical Lows.

Because the interest rates are near historical lows, not buying now could have you experiencing regret later. A 30-year loan of $250,000 at an interest rate of 7% in comparison to 6% will cost you an additional $60,000. While rates are still near historically low levels, the forecast is for rates to trend upwards. That means it is a great time to buy real estate now!

You have Selection, Selection, Selection!

With over 10,000 homes and condos on the market in San Francisco bay area right now, you have choices that buyers just a few years ago would have loved.

No bidding wars.

In 2005, 20 offers on a single listing were not a big deal! That means that 19 buyers’ offers were rejected and those buyers had to move on and settle for their second, third or fourth favorite home. Today, there is much less competitive bidding for a single home.

Sellers are Motivated.

In hot sellers’ markets, everything tends to get rushed: the house hunting, the offer-writing, the negotiating… everything! Now, a buyer can take his/her time looking through the available inventory on our website, and visit several homes, before making an offer. Many sellers are willing to negotiate and work towards a win-win situation that works for both parties.

Build Long-term Wealth.

60% of the average homeowner’s wealth comes from their home’s equity. You might be wondering if buying a home right now is a smart financial decision. The fact is, homeownership is the key to building long-term wealth, no matter when someone buys. Studies show that, over time, most homeowners will steadily build equity. Of course, owning a home is much more than a way to gain a financial edge; it’s also where you raise a family and create life-long memories. Home Ownership is an Investment in your Future. A Federal Reserve study has shown that the average homeowner’s net worth is 46 times the net worth of a renter! The average homeowner’s net worth is $184,400 compared to $4,000 for renters.

“Trade Up” Using Your Equity.

Over 79% of the 50+ population are homeowners. Of those, 67% own their homes free and clear (mortgage-free). Are you one of those? If so, you are in an ideal financial position to upgrade you lifestyle while the prices are right and the selection is abundant. Choose from a plethora of existing homes or new home communities that are a perfect fit for your lifestyle, whether it’s golf, boating, waterfront, riverfront, or more!

Benefits of Ownership.

Research shows that homeownership provides a variety of benefits, tangible and intangible, to the community as well as the individual homeowner. Homeowners can deduct property taxes and mortgage interest from their income taxes. Home ownership is a superb tax shelter and our tax rates favor homeowners. Pride of Ownership. Pride of ownership is the number one reason why people yearn to own their home. It means you can paint the walls any color you desire, attach permanent fixtures and decorate your home according to your own taste. Home ownership gives you and your family a sense of stability and security. It's making an investment in your future.

Location, Location, Location.

With the great number of available homes, there are more homes priced to sell in desirable locations. San Francisco Bay Area has so much to offer: a great year-round climate, award-winning Cupertino schools, world-class high-tech companies, hundreds of restaurants, great shopping, cultural activities, golf courses, hiking, and so much more. This is a positive indicator which bodes well for the future of real estate in the area.

FHA Loans Becoming Available.

There are many options for homebuyers in this market. One option, Federal Housing Administration (FHA) home loans, are a viable alternative for many first-time buyers. The FHA insures the loan, so your lender can offer you a better deal in the way of lower down payments, lower closing costs, and easier qualifying. FHA market share for home purchases are expected to triple over the next three years. Click this link to learn more: www.hud.gov

The Value of Your Investment.

Despite some moderate losses in value in the short term, home values in the long-term have and will continue to rise. Real estate is a long-term investment. Over the past 30 years, the media price of existing homes has increased an average of more than 6 percent every year (National Association of Realtors). Thanks to the power of leverage, a homeowner’s return on investment is even more impressive over time.

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