http://activerain.com/blogsview/1596853/what-is-a-binding-contract-of-sale-for-irs-tax-credit-purposes-let-s-all-be-careful-out-there-

If you don't know what the current market value is for homes in the area and whether the market is appreciating or depreciating, you don't know what a fair price is and you're likely to miss out on a great deal by trying to low ball a house that's already priced well.

If the house meets your goals, is within your budget, and is priced competitively, it's a bargain and you should make a strong offer. Get assistance from a professional to help you recognize a good deal and grab it before it's gone.

 Misconception: Foreclosures and short sales are the best buys. 

Many buyers find out the hard way that foreclosures and short sales are full of headaches, may need extensive repairs, require great patience over an extended period, often don't have the criteria that's most important to you, and may never close. 

Short sales abound in much of the US and many people are starting to avoid them because the pain isn't worth the gain.  Foreclosures can be less troublesome, but often in poor condition with challenges that may take longer than normal to resolve.  Market prices have corrected in many places, and it's possible to find great deals in homes that are priced like short sales, but don't have the headaches.

Misconception You get a better price if you buy directly from the owner.

Bargain hunters sometimes avoid Realtors, thinking that they will get a better price if they buy directly from a FSBO.  Meanwhile, the sellers are also trying to save on the commission, so they're not getting expert advice either and often price their homes above market value. 

The end result is often that a buyer pays too much or the FSBO is unable to get the house sold. A savvy Realtor working on the buyer's behalf, armed with market data and great negotiation skills, is much more likely to get a great deal than buyers can by negotiating for themselves.

If you're buying a house, it's a great idea to find a good Realtor and listen to their advice.

Video Real Estate Tour of 3804 #A 9th St. NW Rochester MN. The tour takes you through the entire home giving you a good idea about the general layout and features of this home for sale. For more information visit us at www.rochesterhomesource.com ... Beth Nordaune RE/MAX of Rochester.

Walk to work, entertain on your large deck, or let the dogs and kids play in the fully fenced backyard. Beautiful hardwood floors, crown molding, wainscoting, recessed lighting, modern fixtures, finished lower level with full bath and family room. Ceramic tile, heated tile flooring in lower level bathroom, newer carpet in upper level bedroom and basement, and oh so much more! Only 8 blocks to St. Marys hospital. Lots of storage, room to play and entertain, come check it out today!

Vaulted ceilings, open, bright and waiting for its next owner! Fully finished up and down, patio doors to deck, ample kitchen storage, large master bedroom with 2 closets, recessed lighting, ceiling fans, hardwood floors, and a panoramic view.  This home for sale is located in NW Rochester Minnesota.

5405

This educational Video Real Estate Tour, which is viewable at http://www.rochesterhomesource.com, starts outside at the homes front entrance and pays particular attention to the location and professional landscaping that surround the home. Moving to the interior, viewers will find a exceptionally maintained Ranch-Style home conveniently located near many restaurants and retail stores including Target, Home Depot and Best Buy.

The host of the Video Tour, http://www.rochesterhomesource.com/property/3516-20th-Ave-NW-Rochester-Minnesota, gives viewers a tremendous sense of how each room flows in to the next and the size and dimension of each room. The tours guide also highlights the size of each room, the 2 baths, 4 bedrooms, nice kitchen, large deck, flat yard and garage with car port.

Viewers of the Rochester MN Real Estate Video Tour will enjoy every minute of this Ranch-Style home located in Northwest Rochester and in close proximity of Downtown Rochester.

Press Release Contact Information:
Beth Nordaune
Real Estate Professional
RE/MAX of Rochester
507-287-7755
bethnordaune@remax.net

This educational Video Real Estate Tour, which is viewable at http://www.rochesterhomesource.com, starts outside at the homes front entrance and pays particular attention to the location and professional landscaping that surround the home. Moving to the interior, viewers will find a exceptionally maintained Townhome conveniently located near bike trails, shopping and the historic Mayowood area.

The host of the Video Tour, http://www.rochesterhomesource.com/property/Rochester-MN-Real-Estate-1921-Tiffany-Cove-Ln-SW-Rochester-Minnesota, gives viewers a tremendous sense of how each room flows in to the next and the size and dimension of each room. The tours guide also highlights the size of each room, the 3 baths, 3 bedrooms, gourmet kitchen, cathedral ceiling, vast amounts of storage, modern paint colors the picturesque view of the pond with fountain.

Viewers of the Rochester MN Real Estate Video Tour will enjoy every minute of this Townhome located in Southwest Rochester and in close proximity of Downtown Rochester.

Press Release Contact Information:
Beth Nordaune
Real Estate Professional
RE/MAX of Rochester
507-287-7755
bethnordaune@remax.net

This educational Video Real Estate Tour, which is viewable at http://www.rochesterhomesource.com , starts outside at the homes charming front entrance and pays particular attention to the location, style of home and the unique amenities that are associated with the home. Moving to the interior, viewers will find a exceptionally maintained Loft Style Condo conveniently located in Northwest Rochester, near CR 22 and Hwy 14. 



The host of the Video Tour, http://www.rochesterhomesource.com/property/Rochester-MN-Real-Estate-410-1st-Pl-SW-Oronoco-Minnesota , gives viewers a tremendous sense of how each room flows in to the next along with the size and dimension of each room. The tours guide also highlights the kitchen, dining room, living room, master bedroom, 2nd bedroom, the lower level with plenty of storage, the backyard and extensive landscaping.
Viewers of the Rochester MN Real Estate Video Tour will enjoy every minute of this Ranch style home located on the shores of Lake Shady located in the town of Oronoco.

Here's some more great news for Real Estate in Rochester MN.

On May 29, the Department of Housing and Urban Development announced that qualifying buyers can apply the $8,000 tax credit toward the purchase of a home. To facilitate the process, the Federal Housing Administration is permitting its lenders to extend short term bridge loans, which will enable qualifying buyers to apply their tax credit toward closing costs, buying down their interest rate, or increasing their down payment above the FHA required 3.5 percent.

"With an abundance of inventory, reduced home prices, historically low interest rates and now the availability of the tax credit at closing, we expect to see the housing market further stabilize and improve," said Charles McMillan, president of the National Association of REALTORS.

* 2009 home buyers can claim a special tax credit worth up to $8,000. The American Recovery and Reinvestment Act offers qualifying home buyers a tax credit equal to 10 percent of a home's purchase price, up to a maximum of $8,000. The tax credit is offered to first time buyers, and those who have not owned a principle residence in the past three years. To be eligible for the tax credit, buyers must meet general income requirements and close on their purchase before December 1, 2009. Please contact us for more details on this once-in-a-lifetime program.

If you have any questions about Real Estate in Rochester MN ... please give me a call.

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers.

Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.

Who Qualifies?

First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?

The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Will the Credit Be?

The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:

The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.

The buyer's income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.

Rochester, Minnesota, USA, March 30, 2009 - Beth Nordaune, a Rochester MN Real Estate professional, has assembled a comprehensive "Walking Tour" for her listing located at 729 41st St NW Rochester MN 55901.

This educational Video Real Estate Tour, which is viewable at http://www.rochesterhomesource.com, starts outside at the homes side entrance and pays particular attention to the location and upgrades to the home. Moving to the interior, viewers will find a exceptionally maintained ranch style home with New Windows, New Siding and a New Roof.

The host of the Video Tour, http://www.rochesterhomesource.com/property/729-41st-Ave-NW-Rochester-Minnesota, gives viewers a tremendous sense of how each room flows in to the next and the size and dimension of each room. The tours guide also highlights the size of each room, the 3 bathrooms, the 3 bedrooms, and the mainfloor laundry.

Viewers of the Rochester MN Real Estate Video Tour will enjoy every minute of this ranch style home located within close proximity of Downtown Rochester.