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. 

http://www.calculatedriskblog.com/2010/04/home-tax-credit-costly-failure.html  When you read this article, you can easily come to the conclusion that the Home Buyer Tax Credit cost too much and did not accomplish what it was intended to do.  Even if I agreed with the statements made in this article (which I don't), the writer leaves out the other side of the home buying story.  Even if 1 out of 4 or 5 buyers would have bought anyway, that is still 20-25% more which is huge when you think how miserable the housing market had been.  I have a hard time with that stat especially as I look at the buyers our agents have been working with over these last two weeks.  Many are looking to buy knowing 4/30 is coming and they don't want to miss out on the $8,000 1st time buyer or the $6,500 move up buyer credit.  That said, the other aspect of this story is the many people who were put to work because these 20-25% of home buyers chose to buy.  Here are some who have benefitted just to name a few. Real Estate Attorneys and their staff, lenders and their staff, increased city and county tax revenues, builders and local sub-contractors. local movers who moved the seller and the buyers from and into their new homes, local merchants to whom home buyers went to buy tv's, window treatments, appliances, etc.  Unlike the bank bailouts, this stimulus money trickled down to help the local (Charlottesville and surrounding counties in VA) economy which means the dollars spent made a difference to many of our neighbors and friends.

there are many signs that say the economy is in some stage of recovery.  what should be seen as good news, could be a negative for those who are looking to buy a home or refinance their existing property.  why? will, often times when the economy improves, interest rates go up.  that, along with the goverment no longer subsidizing mortgage backed securities, means we can expect to see higher interest rates.  read more by clicking on the following link http://realestate.aol.com/article/refinance/_a/mortgage-rates-on-the-move-time-to-refinance/201004280001?icid=main|main|dl4|link3|http%3A%2F%2Frealestate.aol.com%2Farticle%2Frefinance%2F_a%2Fmortgage-rates-on-the-move-time-to-refinance%2F201004280001

Even in the toughest of times there are opportunities to find success.  Here at Roy Wheeler Realty Company we believe in "showing up every day ready to take advantage of the opportunities that come our way."  Here is an article that points us toward doing just that.

http://www.jongordon.com/newsletter-032210-5waystothrive.html

http://www.bigbuilderonline.com/industry-news.asp?sectionID=365&articleID=1251103

Click on this link for a recent Daily Progress article on the Charlottesville 1st quarter real estate report.  You will find glimmers of hope that then housing market is beginning to recover.  The number of homes sold YTD vs last year has increased but prices in most areas continue to fall.  Look for that to continue until the number of homes for sale begins to significantly decline.