Click on the link http://www.wina.com/Real-Estate-Matters/7050283 to hear the podcast from the 6/12 radio show on WINA and WVAX in Charlottesville.  You might also check out the web site http://www.leap-va.org for more information on how to make your home more energy efficient.

According to the AP as written in this USA Today article, http://www.usatoday.com/money/economy/housing/2010-06-10-home-tax-credit_N.htm Congress is working on an extension of the June 30th deadline for the Home Buyer Tax Credit.  The date to buy a home ended on April 30, 2010 but a purchaser needs to settle on the home by June 30th.  Due to the lenghthy process of dealing with lenders on short sales, many are concerned they won't be able to complete the transaction by June 30th.  Without Capitol Hill's intervention, many people would miss out on the $8,000 or $6500 tax credit.

http://washington.bizjournals.com/washington/stories/2010/06/07/focus1.html?b=1275883200^3442711&ana=e_vert Click on this link to read the perspective of one Realtor in DC as reported by the Washington Business Journal http://washington.bizjournals.com/washington/

Personally, we feel the jury is still out on this assesment.  Let's take another look after June.  the market has not been as active since April 30th despite the interest rates remaining low so that gives credence that the tax credit deadline did create the sense of urgency the housing market needed.  These next 3 weeks are going to be pretty crazy as purchasers struggle to make sure the homes they bought settle prior to the June 30th deadline.  If you are settling on a home this month, you may very well want to settle early if at all possible as the attorneys and closing companies are going to be slammed in that last week of June.

Did you miss it? Near the bottom of today's press release about the NAR Pending Home Sales Index figures for April 2010 was this tasty little nugget:

“However, the recent housing cycle has brought long delays related to the short sales approval process by banks, and from ongoing appraisal issues. There could be a sizable number of homebuyers who responded to tax credit incentives, but may encounter problems meeting the settlement deadline by June 30.” Because of these market challenges, NAR has asked Congress to provide flexibility on the deadline for closing.

David Stevens took time out of his busy schedule to speak on Michael Guthrie's Real Estate Matters Radio Show.  He is confident that the housing market will improve slowly but steadily.  The good news is interest rates continue to be at all time lows.  Click on the link http://www.wina.com/Real-Estate-Matters/7050283 to listen to the podcast of the May 29th show..

Learn more by listening to this podcast  http://www.wina.com/Real-Estate-Matters/7050283
Here's the podcast from the show where we discussed Old Trail Village from the WINA/WVAX radio show Real Estate Matters

Click on the link http://www.wina.com/Real-Estate-Matters/7050283 and listen to the Podcast from the WINA and WVAX Real Estate Matters Radio Show.  CAAR President Greg Slater and CVMBA President Matt Hodges share their insights with host Michael Guthrie.

Austin, Tx broker, Krisstine Wise speaks about the positive impact social media can play on the success of a real estate company.  Click on this link http://www.youtube.com/watch?v=3GJb3MmHWgc to hear what Krisstine said at NAR's Mid-Year meetings last week in Washington, DC.

First-Time Homebuyer Credit for Military Personnel:

   While the First-Time Homebuyer credit has expired for most, the option is still available for qualifying military personnel.  In Suntrust's market update of October 11th, they reported on the extension of the tax credit which included a seemingly forgotten option for military personnel and members of the intelligence community.  Per the Worker, Homeownership and Business Assistant Act of 2009 signed into law on November 6, 2009 (the Act), members of the uniformed services and employees of the intelligence community serving outside the U.S. are afforded the opportunity to claim the tax credit through next year.  These individuals have until April 30, 2011 to enter into a binding contract to purchase a primary residence.  The purchase contract must go to settlement on or before June 30, 2011.  The ruling applies to any individual (and, if married the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2009.

VA defines a First-Time Homebuyer as:

 An individual that has not had ownership in a primary residence within the three years preceding the settlement date of the new purchase.

An individual who, though having owned a home in the previous three years, owned a home with a former spouse while married and is no longer living in the residence (evidenced by the divorce decree and/or separation agreement).

Financial planner and wealth management consultant, David Marotta, explains in this article http://www.emarotta.com/article.php?ID=389 why now might be the time to buy a house.