Everything Edmond Homes Blog

Service Members Get Extra Year for Tax Credit
Members of the U.S. military, foreign service and intelligence communities have another year to purchase a home and claim the home buyer tax credit.

Any service member who is or has been on extended duty for 90 days or more between Jan. 1, 2009 to April 30, 2010, has until April 30, 2011, to sign a sales contract and until June 30, 2011, to close on the property. Both the $8,000 first-time and the $6,500 repeat home buyer tax credits are included in the extension.

The rule that requires buyers to repay the credit if they move out of their home within three years has also been waived for qualified service members if they receive government orders to move.

********************************************************

Fannie Extends Distressed Property Deal
Fannie Mae is extending through June 30 an incentive program that gives buyers of distressed properties in its inventory a 3.5 percent rebate of the final sales price. The money can be used toward closing costs or for selected appliances. The program began in January and was set to expire April 30.

Fannie has more than 62,000 homes listed on Homepath.com. It wouldn’t comment on the volume of sales driven by its deal, but the company reported owning 86,000 properties at the end of 2009.

Source: Reuters News, Lynn Adler (04/27/2010)

Here is a link from MSNBC showing how rates are and will continue to rise in the near future.

http://www.msnbc.msn.com/id/36231595/ns/business-real_estate/

Request you list of available homes while there is some great ones out there!

We have created a News page for announcements, news, and posts from our friends and business associates. Please visit often and know they appreciate your referrals and support as much as we do! Also, feel free to email posts you would like added anytime!

News to Me

• 30-year fixed-rate mortgages decreased to 5.13 percent from 5.18 percent.
• 15-year fixed-rate mortgages decreased to 4.45 percent from 4.62 percent.
• 1-year ARMs increased to 6.83 percent from 6.42 percent.

Source: Mortgage Bankers Association (01/13/2010)

Build a custom home search here

View the entire MLS here

Twin Oaks Community Statistics

Twin Oaks is a multi phase community that began development in the mid 80's. Located in North West Edmond by the intersection at 178th and Western, Twin Oaks is in the ideal location for all types of home buyers looking to make Edmond there home. Great schools, convenient location, and quality homes are only a few of the reasons you will want to come see Twin Oaks in North West Edmond.

Average Size Home: Large Range - 1500 SqFt to 2600 SgFt

Average Sales Price - $150,000 to $185,000

Community Amenities - Greenbelt

Association Dues - $80/annual

Elem: Washington Irving

Middle: Cheyenne Middle School

High: Sante Fe High School

Below is a photo of the brand new retail and restaurant mall being built at the corner of 178th and Western.

As always, for more information on Twin Oaks or if I can help you find you your next home please call me today 474-0421 or click here to get a custom list of homes to fit your needs! Click here to search the entire MLS anytime.

• Credit available for purchases before May 1, 2010. Prospective purchasers with binding contracts in place as of April 30, 2010 will be allowed an additional 60 days to complete the transaction.

• Credit remains at $8000 for first-time purchasers. No change to definition of first-time purchaser.

• New $6500 tax credit for repeat buyers who purchase between December 1, 2009 and May 1, 2010. Repeat buyers must have lived in their homes consecutively for 5 of the previous 8 years.

• Income limits are expanded to $125,000 on a single return and $225,000 on a joint return. Current law $20,000 phase-out retained.

• New anti-fraud limitations are imposed.

Excerpt from Article www.Realtor.org

Begin Searching for homes NOW! Search the entire MLS HERE!