Are you Average? Do You Fit the Mold of the "Average" Female Homebuyer?

According to the National Association of REALTORS® Profile of Home Buyers and Sellers, in 2008, 41% of homebuyers were first-time homebuyers!

The average age of a first-time homebuyer was 30.
The median income of a first-time homebuyer was $60,600.
The average purchase price was $165,000.
The median down payment was 4%.

Additionally, 20% of homebuyers in 2008 were single women, proving that there is no "correct order" to do things (i.e., get married and then buy a home!).

Where do you fit?

$8,000 First-Time Homebuyer Tax Credit

You've heard it a lot lately, but now it's more true than ever:

Now is a great time to buy.

And not only is now a great time to buy - it's a SMART time to buy. And what's the name of this website? Smart Successful Women Own Real Estate.

As of February 19, the government is offering up to an $8,000 tax credit for first-time homebuyers. If you have been thinking about buying, now's the time to do something about it. Here are a few of the facts about the new tax credit:

• Who is eligible? First-time homebuyers who are qualifying taxpayers who buy a house this year before December 1, 2009


• How is "first-time homebuyer" defined? The IRS defines first-time homebuyer: "For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase."


• When can I claim my credit? On your 2008 or 2009 tax return (you must fill out Form 5405 with your tax return)


• How does my income affect my tax credit? The amount of the tax credit begins to phase out if your adjusted gross income is over $75,000 (or more than $150,000 for joint filers).


• Do I have to pay back the $8,000 tax credit? No, unlike the 2008 tax credit, you do not have to pay the 2009 tax credit back. (For more information on the differences between the 2008 and 2009 tax credits, please click here.)


• What if I want to buy a condo? All single-family residences are eligible, including townhomes, condos, co-ops and detached houses, as long as it will serve as your primary residence.

If you have more questions about this INCREDIBLE opportunity to be rewarded for buying a home, please give me a call. I can help you understand the tax credit, as well as understand the homebuying process.

Buyers: 10 Important Questions That Your Buyer Agent May Ask You . . . And Why!

Buyers (especially First-Time Homebuyers): It is a good idea to have a REALTOR® representing you when you purchase a home. True, you can search for homes online and even view homes with the listing agent or the seller, but a REALTOR® can help you to navigate the often tricky waters of negotiation, inspections and legal aspects of a real estate contract, especially if you are a first-time homebuyer.

And just as you will want to interview your Buyer Agent before you hire her, she may want to "interview" you. She's not being nosy - she's just trying to get an idea of you as a buyer and how to best serve you. Please click the link below to see some sample questions that your Buyer Agent may ask you - just so you can be prepared!

To read the full list and to have a chance to comment and ask questions, please click here!

Buyers: 10 Important Questions to Ask Your Buyer Agent . . . And Why!

Buyers (especially First-Time Homebuyers): It is a good idea to have a REALTOR® representing you when you purchase a home. Especially these days, when the market can seem difficult understand, with foreclosures, short sales, buyers' markets, and all the other ins and outs of the real estate transaction. True, you can search for homes online and even view homes with the listing agent or the seller, but a REALTOR® can help you to navigate the often tricky waters of negotiation, inspections and legal aspects of a real estate contract, especially if you are a first-time homebuyer.

There are some inportant questions that you should ask your REALTOR®, when you are considering hiring her to represent you.

To read the full list and to have a chance to comment and ask questions, please click here!

First-Time Homebuyers Make Up Large Percentage of Buyers in 2008

Did you buy your first home in 2008? If so, you fall into the category of "First-Time Homebuyers" and according to the National Association of REALTORS®, you make up a large percentage of the home sales!

The above chart shows that 41% of ALL BUYERS were first-time homebuyers - and then breaks down the numbers by region:

• Northeast - 46%
• Midwest - 41%
• South - 39%
• West - 41%

According to the study, "unencumbered first time buyers are therefore a larger share of purchasers, now 41 percent." In almost all regions of the country, and nationally, "first-time buyers became a larger segment of the market."

If you did not buy in 2008, it is still a great time to buy! In many areas of the country - and in the Atlanta area, in particular - it is a "Buyer's Market," meaning that it is a market in which the number of sellers is greater than the number of buyers, so the supply outweighs the demand. This means you have more choices and more chance for negotiation. There are still some "good deals" out there, but even more important than that, there are beautiful properties on the market in good to great condition. You do not have to buy a foreclosure or short sale property or a distressed property in need of major repair to get a good price on a home.

Do you want to find out more about buying a home in the Atlanta area, or are you thinking about buying your first home? I'd love to meet with you for a consultation! Give me a call today at (770) 238-0595 or email me at Maura@GebhardtGroup.com.

Atlanta's Buckhead Neighborhood Wins National Attention on HGTV's "Top Ten Dreamy Neighborhoods"

Want to live in a dreamy neighborhood?

Move to Atlanta, Georgia's Buckhead! According to HGTV's "Top Ten Dreamy Neighborhoods," Buckhead is definitely the place to be!

With the current interest rates and the plethora of choices for buyers - especially first-time buyers - in Buckhead, now is a great time to buy! If you've been thinking about buying, take a look at these numbers:

As of today, February 10, 2009, with the current FHA loan limit falling within a purchase price of approximately $350,000, there are 39 single-family homes and 676 condo units currently on the market in Buckhead!

To read the full article about HGTV's list, please click here.

To find out more about buying a home in Buckhead or anywhere else in the Atlanta area, please email me today at Maura@GebhardtGroup.com

Home Inspections - Not Evil, Just Necessary

I once heard a buyer describe home inspections as "a unnecessary evil," and I thought, "Really?"

I can't imagine buying a home without one.

In my years as a REALTOR®, I've seen good inspections and not-so-good inspections, but never have I regretted advising a client to get one. It's always a surprise to me that anyone would really make one of the biggest purchases of their life without have a professional come in and inspect the home, all for the sake of saving about $400.

In a recent article on MSNMoney.com entitled "10 times you can't afford to skimp" by Liz Pulliam Weston, home inspections appear on her list. She writes:

"Talk to any group of smart real-estate investors and you'll hear hair-curling stories of properties they fell in love with, only to have inspectors discover the house was about to fall down or needed tens of thousands of dollars in repairs. Having this knowledge helped them pass on bad deals or at least negotiate lower prices."

A home inspector helps you to notice the things you can't see with the naked eye, or with the untrained eye. Termite damage. Toxic mold. An unsupported floor joist. An ungrounded electrical outlet. I know I don't have the knowledge or the training to see these things for myself...do you?

Pulliam Weston goes on to say:

"During the real-estate boom, there were some buyers who made the (weak) argument that insisting on an inspection would cause the sellers to choose another bidder, but in today's slower markets, there's really no excuse not to hire an expert to inspect a home before you buy. Check the American Society of Home Inspectors for details."

Do yourself a favor -- ask your REALTOR® to give you a list of home inspectors they know and trust and then get on the phone, get quotes and choose one. It could be the best $400 you've ever spent!