Please check out the following site for an update on the Real Estate Market:

http://ibrealestate.wordpress.com/2010/01/04/grubb-ellis-forecast-freefall-is-over-confidence-returns/

Please call me if you have any questions.

Tammy @ 208-859-9505

Take a look at the following USA Today article that reports a significant increase in recent home sales:

http://www.usatoday.com/money/economy/2009-11-23-existing-home-sales-oct_N.htm

Call Tammy at (208) 859-9505 if you wish to begin to have a discussion about buying or selling real estate during this time when tax incentives are available.

The following link is a brief explanation of President Obama’s recent approval of financial tax credits for first time home buyers as well as current homeowners.  This will improve the Boise Real Estate market for buyers as well as sellers.  Call me, Tammy, (208-859-9505) if you have questions about how this may be of advantage to you.

http://www.housingwire.com/2009/11/06/obama-signs-first-time-homebuyer-tax-credit-extension/

Please see the following web sites which tell some of the story of why Boise is such a great place in which to have a home:

See the following June 12th article from the Idaho Statesman on the current status of the Real Estate market in the Treasure Valley:

http://www.idahostatesman.com/newsupdates/story/799987.html?story_link=email_msg

See the following web site from the Idaho Statesman which shows the recent changes by area of property values from the Ada County Assessor’s office.

http://media.idahostatesman.com/smedia/2009/05/19/22/444-0520_graphic.source.prod_affiliate.36.pdf

The following link contains  additional valuable information regarding the Federal government’s new tax credit for first time home buyers.

http://www.federalhousingtaxcredit.com/2009/home2.html

The following Web Link will inform first time home buyers how they can receive a credit from the United States government.  This opportunity is a part of the recently passed stimulus legislation.

http://www.federalhousingtaxcredit.com/

Here is some information on purchasing Real Estate in your IRA.  Now is a great time to consider this option.  This option provides a great opportunity to diversify, plus many investors believe that Real Estate will likely recover faster than the stock market.  I can help you with this process through a licensed IRA Real Estate custodian.  Please call if you have any questions about this opportunity.  See the following web site:

http://www.realtor.org/archives/featuresept03ira

The Following memo outlines how the stimulus package impacts the Real Estate and Home Mortgage markets:

Economic Stimulus Plan Benefits the Housing and Mortgage Industries

Just signed and sealed…a $787 Billion Stimulus Plan made up of tax cuts and spending programs aims at reviving the US economy. Although the package was scaled down from nearly $1 Trillion, it still stands as the largest anti-recession effort since World War II.

Home owners and potential homebuyers stand to gain from key provisions in this stimulus plan. Here is what we know as of today…

Tax Credit for Homebuyers

First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit.  Remember a tax credit is very different than a tax deduction – a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income.

The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000.  Buyers will have to repay the credit if they sell their homes within three years.

Additional Housing-Related Provisions

Tax Incentives to Spur Energy Savings and Green Jobs — This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.

Landmark Energy Savings — This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization.  According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.

Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing—This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs.Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section to increase energy efficiency, including new insulation, windows, and frames.

Expanding Housing Assistance—This provision increases support for several critical housing programs. It includes $2 Billion for the Neighborhood Stabilization Program to help communities purchase and rehabilitate foreclosed, vacant properties.

More Help for Homeowners in the Future

Another thing to keep an eye on in the coming weeks is President Obama’s plan to help struggling borrowers before they are faced with a default on their mortgage.

According to reports, the Obama administration is discussing plans to help borrowers who are struggling to stay afloat, but who have not yet fallen behind on their payments. At this point, details are scarce; however, reports indicate that President Obama is looking to spend approximately $50 Billion to directly help homeowners before they face foreclosure and financial disaster.

While this is good news for individual homeowners, it will likely be good for the housing industry as a whole. That’s because, assisting struggling borrowers before they default should help stop the wave of foreclosures, which are estimated to top two million this year. That, in turn, will help stabilize home prices.

The Economic Stimulus Plan is huge, and impacts a number of industries. I’ve highlighted some of the major provisions that may impact you now and in the future.