Kenneth Bargers Blog

In the News…real estate social networking

LOL Friday…What’s for dinner?

Every 10 years a group of 40 years old buddies get together and discuss where they should go for dinner.  This time it is agreed that they should meet at the Gausthof zum Lowen restaurant because the waitress’s there have low cut blouses and nice breasts.

10 years later, at 50 years of age, the group meets again and once again they discuss where they should meet. Finally it is agreed that they should meet at the Gausthof zum Lowen because the food there is very good and the wine selection is good also.

10 years later at 60 years of age, the group meets again and once again they discuss where they should meet. Finally it is agreed that they should meet at the Gausthof zum Lowen because they can eat there in peace and quiet and the restaurant is smoke free.

10 years later, at 70 years of age, the group meets again and once again they discuss where they should meet. Finally it is agreed that they should meet at the Gausthof zum Lowen because the restaurant is wheel chair accessible and they even have an elevator.

10 years later, at 80 years of age, the group meets again and once again they discuss where they should meet. Finally it is agreed that they should meet at the Gausthof zum Lowen because they have never been there before.

February 5, 2010 Posted by | humor | , , , , , , , , , , , | Leave a Comment

Still Time to Take Advantage of Homebuyer Tax Credit

There’s still time to take advantage of homebuyer government tax credits through The Worker, Homeownership and Business Assistance Act! 

The Worker, Homeownership, and Business Assistance Act of 2009 extends the deadline for qualifying home purchases from Nov. 30, 2009, to April 30, 2010. Additionally, if a buyer enters into a binding contract by April 30, 2010, the buyer has until June 30, 2010, to settle on the purchase.

 The maximum tax credit amount remains at $8,000 for a first-time homebuyer – that is, a buyer who has not owned a primary residence during the three years up to the date of purchase.

But the new law also provides a “long-time resident” tax credit of up to $6,500 to others who do not qualify as “first-time homebuyers.” To qualify this way, a buyer must have owned and used the same home as a principal or primary residence for at least five consecutive years of the eight-year period ending on the date of purchase of a new home as a primary residence.

For all qualifying purchases in 2010, taxpayers have the option of claiming the tax credit on either their 2009 or 2010 tax returns.

Income Limits Rise

The new law raises the income limits for people who purchase homes after Nov. 6, 2009. The full tax credit will be available to taxpayers with modified adjusted gross incomes (MAGI) up to $125,000 individual, or $225,000 for joint filers. Those with MAGI between $125,000 and $145,000 individual, or $225,000 and $245,000 for joint filers, are eligible for a reduced tax credit. Those with higher incomes do not qualify.

New Requirements

Several new restrictions on purchases that occur after Nov. 6, 2009 go into effect with the new law:

  • Dependents are not eligible to claim the tax credit.
  • No tax credit is available if the purchase price of a home is more than $800,000.
  • A purchaser must be at least 18 years of age on the date of purchase.

Source:  Courtesy of Todd Kabel, US Bank and Kenneth Bargers, Prudential Woodmont Realty

February 3, 2010 Posted by | real estate | , , , , , , , , , , , , | Leave a Comment

10 Home Features Buyers Want

Home designers and builders speaking at the recent International Builders Show in Las Vegas say that buyers are seeking cost-effective features and rejecting things that don’t have lasting value.

“It’s all about family togetherness – casual living, entertaining and flexible spaces,” says Carol Lavender, president of the Lavender Design Group in San Antonio.

Paul Cardis, CEO of Avid Ratings, which conducts an annual survey of buyer preferences, identified these must-haves in new homes:

  1. Large kitchens with islands
  2. Energy efficiency, including energy-efficient appliances, super insulation, and high-efficiency windows.
  3. Home offices
  4. Main-floor master suite
  5. Outdoor living space
  6. Ceiling fans
  7. Soaking tub in the master suite and/or an oversize shower with a seating area
  8. Stone and brick exteriors rather than stucco or vinyl
  9. Community walking paths and playgrounds
  10. Two-car garages, but three-car garages are even more desirable

Source: MarketWatch, Steve Kerch (01/30/2010)

February 2, 2010 Posted by | real estate | , , , , , , , , , , , , , , , , , , , , , | 1 Comment

February’s In The News Newsletter Released

This month’s In the News newsletter is now available.  If you wish to be added to the monthly distribution, please send me your name and email address to kb@bargers-solutions.com.  I hope you enjoy this month’s contribution – http://www.bargers-solutions.com/NewsletterFebruary10.html

February 1, 2010 Posted by | marketing, real estate | , , , , , , , , , , | Leave a Comment

Market Comment for Week of February 1st

MARKET COMMENT  Mortgage bond prices fell last week pushing mortgage interest rates slightly higher. Most of the data early in the week was bond-friendly. Unfortunately the Fed’s reminder that their purchases of mortgage bonds would cease after the first quarter sent bond prices tumbling Wednesday afternoon. This was followed by stronger than expected gross domestic product, employment cost index, and PCE price data Friday morning. Bonds were helped Friday afternoon as stocks remained jittery. Interest rates rose by about 1/8 of a discount point for the week.

The employment report Friday will be the most important event this week. Income, outlays, ISM Index, productivity, and factory orders data may also move the market. The ADP payrolls data will be carefully watched even though the release does not always reflect the results of the employment report. It still provides another view of the employment situation.

LOOKING AHEAD

Economic
Indicator		 Release
Date and Time		 Consensus
Estimate		 Analysis
Personal Income and Outlays Monday,
Feb. 1,
8:30 am, et		 Income up 0.3%,
Outlays up 0.2%		 Important. A measure of consumers’ ability to spend. Weakness may lead to lower mortgage rates.
Construction Spending Monday,
Feb. 1,
10:00 am, et		 Down 0.3% Low importance. An indication of economic strength. A significant decrease may lead to lower rates.
ISM Index Monday,
Feb. 1,
10:00 am, et		 56.7 Important. A measure of manufacturer sentiment. A large decline may lead to lower mortgage rates.
ADP Employment Wednesday,
Feb. 3,
8:30 am, et		 -90k Important. A measure of employment. A large decrease in payrolls may bring lower rates.
Preliminary Q4 Productivity Thursday,
Feb. 4,
8:30 am, et		 Up 5.9% Important. A measure of output per hour. Improvement may lead to lower mortgage rates.
Factory Orders Thursday,
Feb. 4,
10:00 am, et		 Up 1.5% Important. A measure of manufacturing sector strength. Weakness may lead to lower rates.

ISM  The Institute for Supply Management (ISM), formerly the National Association of Purchasing Management (NAPM), releases the “Report on Business” on the first working day of each month. Part of this report is the “diffusion index,” which tracks the economy’s ups and downs fairly well.

In conducting this survey, the ISM questions purchasing executives from over 250 industrial companies compiling data on production, orders, commodity prices, inventories, vendor performance, and employment. Each of the respondents is asked to rank the categories as “up” or “down.” Various weights are applied to the individual components to form the composite index.

A composite index reading of 50 can be thought of as a “swing point.” A reading above 50 implies an increase in economic activity, while a reading below 50 indicates a decline. As a general rule of thumb, when the index approaches 60, investors begin to worry about an overheated economy. A slide below 40 suggests that recession is at hand.

The ISM report is difficult for economists to forecast because there is little data upon which to base an educated guess. The report has a large “surprise factor” and can often prompt a significant market reaction. Be cautious.

Source: Courtesy of Todd Kabel, US Bank, Nashville, Tennessee

February 1, 2010 Posted by | economy, real estate | , , , , , , , , , , , , , , , , | Leave a Comment

    Next Entries »

Follow

Get every new post delivered to your Inbox.

Join 859 other followers