CommonWealth Real Estate Your Way, Brodheadsville
investment property in the Poconos

Now is the time to buy a home in the Poconos

Buyers Who Wait May Lose a Lot
Potential home buyers who delay have a lot to lose.

First-time home buyer and move-up tax credits worth $8,000 and $6,500, respectively, expire April 30. Buyers who qualify get a dollar-for-dollar reduction in taxes or a cash payment if they don’t pay enough taxes to cover the credit.

Other factors that should spur buyers:

Low mortgage rates. If the Federal Reserve stops buying mortgage-backed securities at the end of March, 30-year rates will almost certainly rise to more than 6 percent.

Rising prices. About 30 percent of markets are already experiencing price increases. Prices are falling in 12 percent of markets, says Fiserv (but that only helps if you want to live there).

Source: Money Magazine, Beth Braverman (03/02/2010)
If you have been considering Purchasing your first home or A larger home, get out this weekend and take a look at all the great homes for sale in the Stroudsburg ,Mt. Pocono, Blakslee and all of the surrounding Pocono Region. Home prices, interest rates tax credits are the best ever.

Commonwealth Real Estate Your Way, LLC..... RB# 066860..... Office: 570-972-0155

investment property in the Poconos

What is a short sale?

June 17, 2009 by · Leave a Comment 

Q:  “I’ve been hearing lots of buzz about “short sales,” -  what are those?”

A: When an individual is behind on their mortgage payments and the value of their home is less than what is owed, it is often a good idea to pursue a “short sale” situation rather than hold off until a foreclosure is imminent. To do this, communications begin with the lender. The objective is to see if the lender may consider taking less than is owed on the home so the individual can get out of the bad situation without still owing additional funds on the mortgage after the sale. Next, a REALTOR lists the home below the mortgage pay off, with the contingent that the lender approves a “short sale.” This can take months for several reasons. First, a buyer must be found that is willing to wait for lender approval and second, there are so many foreclosures and short sales in the system that the lenders are playing “catch up.”

The good news is that for an individual sitting on some cash, a money market, a cd,  or someone who has been saving for a home, investing in a “short sale” property is an excellent investment and an excellent opportunity. Many homes are below market value and interest rates are at all time lows. And, there are a whole host of additional incentives for the first-time homebuyer.

I recommend finding a REALTOR buyer agent to help you find a bargain.

I can tell you about some Pocono real estate where new construction homes were sold with financing that should not have gone through for some borrowers. In some cases, homes are being sold for six figures less than their actual value. These are new homes in good condition. What a great opportunity for a buyer who waited and can snatch up one of these short sale homes for a “steal.”

CommonWealth Real Estate Your Way, Brodheadsville