Friday, June 26, 2009
Thursday, June 25, 2009
How does your suburb rate?
In June, Cleveland Magazine published it's annual Rating the Suburbs issue. Suburbs are rated by many criteria, including safety, schools, taxes, home values and more. For more on each of the 76 Cleveland area communities included in the ratings, visit www.clevelandmagazine.com.
Friday, April 17, 2009
Tuesday, February 24, 2009
Tuesday, February 10, 2009
$8,000 for First-time Home Buyers!
Recently passed legislation now allows many first-time home buyers to receive a tax credit of up to $7,500 when the purchase a home! For more details, contact The Salem Team!
Amended Housing And Economic Recovery Act of 2008
First-time Homebuyer Tax CreditAmount of Credit
Ten percent of cost of home, not to exceed $8,000
Eligible Property
Any single-family residence (including condos, co-ops) that will be used as a principal residence.
Refundable
Yes. Reduces income tax liability for the year of Purchase. Claimed on tax return for that tax year.
Income Limit
Yes. Full amount of credit available for individuals with adjusted gross income of no more than $75,000 ($150,000 on a joint return). Phases out above those caps ($95,000 and $170,000, respectively).
First-time Homebuyer Only
Yes. Purchaser (and purchaser’s spouse) may not have owned a principle residence in 3 years previous to purchase.
Recapture
No, unless home is sold within three years. Then entire amount recaptured on sale.
Impact on District of Columbia Homebuyer Credit
DC credit not available if purchaser uses this credit.
Effective
January 1, 2009
Termination
December 1, 2009
Monday, January 12, 2009
More proof the home selling market is on the way up!
As you can see from this graph, while the number of sales has gone down over the last quarter of 2008, the average sale price has gone drastically up. This is due to fewer HUD and bank owned properties on the market. This is a great time to buy or sell a home! Contact me to discuss your real estate goals and dreams today!
Monday, December 22, 2008
What a testimonial!
The best compliment anyone can give us is a kind word or referral to a friend or loved one. We love to get feedback from our clients any time, and try to publish as much as we can on our webpage, http://www.briansalem.com/. Last week we recieved a wonderful letter from the Fagans. It was too long to post on the website, but we'd still like to share it with you all.
At the same time, the best way for us to continually improve is to hear what you didn't like about your experience. We'd love to think we make every client happy 100% of the time, but we also know we're human and there is always room for improvement. Feel free to drop us a line or give us a call with your suggestions anytime!
Brian Salem is a very PROFESSIONAL young man. Despite his young age, he has all his ducks in a row. He was always ON TIME and COURTEOUS. One of the many best things about Brian is that he KNOWS HOW TO PRICE A HOME so that it will SELL. He's very REALISTIC and backs up his prices with facts. he showed us what was selling in our neighborhood and what price it sold for. We interviewed three Realtors before we chose one to sell our home. We had two highly regarded top sellers in Avon Lake and Brian. Brian didn't talk all about himself. He told us the important facts that we needed to know about him and then got down to the business of selling our home. Brian uses all foms of COMMUNICATION to sell a house.
The SECOND thing that Brian excels in is getting your home ready for the Open House. That is a huge undertaking. If you follow his lead YOU WILL SELL your home QUICKLY. Practical things make up all his suggestions. He doesn't dwell on things that are not important. When he does the walk through with you take notes. Do everything he suggests because IT WORKS!! If you need HELP, Brian has a huge army of people who can help you!! E.g. cleaning, painting. You name it he has someone who is great to fix it.
The THIRD and most imprtant thin about Brian is that he knows how to FIND SOMEONE WHO WILL BUY YOUR HOME!!! The DAY that he put up the sign on our home to sell it, he also had a buyer coming to look at our home. He is FANTASTIC!!
Here's the AMAZING story!!
At noon Brian came to our home ON THE FIRST DAY our home was listed. The next thing he did was tell us that we would have to leave so he could SHOW OUR HOME! He was at work looking at the relocation list that Realtors have access to. He is also checking that this family is QUALIFIED to buy our home. There was a family that was a PERFECT MATCH for our home!!! They were traveling, as we spoke, from a town in Southern Ohio to see our home. Brian caled us and told us he thinks this family likes our home. Next he called and told us this family has made AN OFFER on our home. Next he told us he will be over in the evening for us to review the OFFER. He comes over, and is very helpful about what we should do. We are not happy with the offer. WE suggest Brian RENEGOTIATE the offer. he goes right back to the family and takes our suggestions to heart. Through his EXPERIENCE in dealing with home selling contracts, he calls us the next day andtells us they have accepted our counter offer. He has essentially SOLD OUR HOME IN ONE DAY!!!!
Of course his job doesn't end there. There are loans and inspections to get through and make sure titles are current and valid.
Finally we close the deal and we have SOLD OUR HOME!!!
Sincerely,
Mike and Gerry Fagan
At the same time, the best way for us to continually improve is to hear what you didn't like about your experience. We'd love to think we make every client happy 100% of the time, but we also know we're human and there is always room for improvement. Feel free to drop us a line or give us a call with your suggestions anytime!
~The Salem Team
Brian Salem is a very PROFESSIONAL young man. Despite his young age, he has all his ducks in a row. He was always ON TIME and COURTEOUS. One of the many best things about Brian is that he KNOWS HOW TO PRICE A HOME so that it will SELL. He's very REALISTIC and backs up his prices with facts. he showed us what was selling in our neighborhood and what price it sold for. We interviewed three Realtors before we chose one to sell our home. We had two highly regarded top sellers in Avon Lake and Brian. Brian didn't talk all about himself. He told us the important facts that we needed to know about him and then got down to the business of selling our home. Brian uses all foms of COMMUNICATION to sell a house.
The SECOND thing that Brian excels in is getting your home ready for the Open House. That is a huge undertaking. If you follow his lead YOU WILL SELL your home QUICKLY. Practical things make up all his suggestions. He doesn't dwell on things that are not important. When he does the walk through with you take notes. Do everything he suggests because IT WORKS!! If you need HELP, Brian has a huge army of people who can help you!! E.g. cleaning, painting. You name it he has someone who is great to fix it.
The THIRD and most imprtant thin about Brian is that he knows how to FIND SOMEONE WHO WILL BUY YOUR HOME!!! The DAY that he put up the sign on our home to sell it, he also had a buyer coming to look at our home. He is FANTASTIC!!
Here's the AMAZING story!!
At noon Brian came to our home ON THE FIRST DAY our home was listed. The next thing he did was tell us that we would have to leave so he could SHOW OUR HOME! He was at work looking at the relocation list that Realtors have access to. He is also checking that this family is QUALIFIED to buy our home. There was a family that was a PERFECT MATCH for our home!!! They were traveling, as we spoke, from a town in Southern Ohio to see our home. Brian caled us and told us he thinks this family likes our home. Next he called and told us this family has made AN OFFER on our home. Next he told us he will be over in the evening for us to review the OFFER. He comes over, and is very helpful about what we should do. We are not happy with the offer. WE suggest Brian RENEGOTIATE the offer. he goes right back to the family and takes our suggestions to heart. Through his EXPERIENCE in dealing with home selling contracts, he calls us the next day andtells us they have accepted our counter offer. He has essentially SOLD OUR HOME IN ONE DAY!!!!
Of course his job doesn't end there. There are loans and inspections to get through and make sure titles are current and valid.
Finally we close the deal and we have SOLD OUR HOME!!!
Sincerely,
Mike and Gerry Fagan
30 Year Fixed Rate Falls to at Least a 37-Year Low
From RealtyTimes.com
McLEAN, VA -- Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.19 percent with an average 0.7 point for the week ending December 18, 2008, down from last week when it averaged 5.47 percent. Last year at this time, the 30-year FRM averaged 6.14 percent. The 30-year FRM has not been lower since Freddie Mac started the Primary Mortgage Market Survey in 1971.
The 15-year FRM this week averaged 4.92 percent with an average 0.7 point, down from last week when it averaged 5.20 percent. A year ago at this time, the 15-year FRM averaged 5.79 percent. The 15-year FRM has not been lower since April 1, 2004, when it averaged 4.84 percent.
Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.60 percent this week, with an average 0.6 point, down from last week when it averaged 5.82 percent. A year ago, the 5-year ARM averaged 5.90 percent.
One-year Treasury-indexed ARMs averaged 4.94 percent this week with an average 0.5 point, down from last week when it averaged 5.09 percent. At this time last year, the 1-year ARM averaged 5.51 percent.
"Interest rates for 30-year fixed-rate mortgage rates fell for the seventh consecutive week, moving these rates to the lowest since the survey began in April 1971," said Frank Nothaft, Freddie Mac vice president and chief economist. "The decline was supported by the Federal Reserve announcement on December 16th, when it cut the federal funds target to a record low and stated it stood ready to expand its purchases of mortgage-related assets as conditions warrant."
Published: December 19, 2008
McLEAN, VA -- Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.19 percent with an average 0.7 point for the week ending December 18, 2008, down from last week when it averaged 5.47 percent. Last year at this time, the 30-year FRM averaged 6.14 percent. The 30-year FRM has not been lower since Freddie Mac started the Primary Mortgage Market Survey in 1971.
The 15-year FRM this week averaged 4.92 percent with an average 0.7 point, down from last week when it averaged 5.20 percent. A year ago at this time, the 15-year FRM averaged 5.79 percent. The 15-year FRM has not been lower since April 1, 2004, when it averaged 4.84 percent.
Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.60 percent this week, with an average 0.6 point, down from last week when it averaged 5.82 percent. A year ago, the 5-year ARM averaged 5.90 percent.
One-year Treasury-indexed ARMs averaged 4.94 percent this week with an average 0.5 point, down from last week when it averaged 5.09 percent. At this time last year, the 1-year ARM averaged 5.51 percent.
"Interest rates for 30-year fixed-rate mortgage rates fell for the seventh consecutive week, moving these rates to the lowest since the survey began in April 1971," said Frank Nothaft, Freddie Mac vice president and chief economist. "The decline was supported by the Federal Reserve announcement on December 16th, when it cut the federal funds target to a record low and stated it stood ready to expand its purchases of mortgage-related assets as conditions warrant."
Published: December 19, 2008
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