Wednesday, March 25, 2009
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The American Recovery and Reinvestment Act of 2009 provided a federal income tax credit for first-time homebuyers of 10% of the sales price, up to a maximum of $8,000. This tax credit is available to qualified homebuyers who purchase a home by December 1, 2009. In order to help buyers monetize this tax credit for down payment and closing costs when they purchase a home, Idaho Housing and Finance Association (IHFA), through its IdaMortgage lending program, is offering a special short-term Tax Credit 2nd Loan to qualified buyers.
In conjunction with an IdaMortgage loan, a subordinate loan will be offered to qualified first-time homebuyers in the amount not to exceed 5% of the sales price or $7,000. A fee will be charged of $250 with $150 refunded upon repayment of the loan on or before the loan due date. The loan will accrue interest at 3.0% with a due date of July 1, 2010. The Tax Credit 2nd Loan is expected to be paid off from the borrower?s tax ref...
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| Posted by Bob Bass at 12:04 PM |
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Tuesday, March 03, 2009
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I just want to take a few moments to share with you where we see the market going in both Ada and Canyon counties.
In January of 2009 there were 343 single-family, detached units in Ada and Canyon County. And if you go back in time, usually January represents 5-6% of the total overall market. So what that means to you is that we are probably going to have between 4,500 and 5,500 total units for the year, not counting whatever business is created by the economic stimulus package. And if this historical trend is true, that means we are going to have 1,000 to 1,500 units less than what we had in 2008. In other words?it?s going to be tight out there.
In order to weather these projections, our company will continue to make necessary adjustments and changes. But what I have to tell you is that you can put your head in the sand or go into the fetal position?but what you really need to do is focus on the opportunities that can be created for those of you who are working. If you are...
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| Posted by Bob Bass at 11:05 AM |
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Monday, February 23, 2009
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I was reading an article on a San Diego agent boasting about her new technology...client mobile searches right from their car. Lucky for us...we"ve been embracing this technology for over six months. And now, just as a reminder of its power, as well as it's newest features and capabilities, see all that is available at www.m.johnlscott.com.
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| Posted by Bob Bass at 4:49 PM |
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Friday, January 25, 2008
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My story at John L. Scott
Wow? This company has been an amazing foundation for me. In 2001 I found myself working at Alaska Airlines, on the night shift, looking for tickets to non-rev (fly free) the upcoming weekend. I was discouraged because I had put in over 6 months and everyone in my family got to use my fly free benefits except for me. It occurred to me suddenly. I needed a job that paid enough for me to buy my own ticket. Almost instantly, I called my supervisor over and let her know of my intentions to resign. I left that night and the next morning signed up for Real Estate school.
I got through school, took my tests and began the interviewing around town. It was interesting because there was a wide range of offerings. Small brokers that offered me a job, I think. It was kind of like, sure come on over, we?ll be here in the morning too. They never actually closed the deal with me, so I was worried about them coaching me on how to close a deal. Larger operations, wit...
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| Posted by Bob Bass at 10:39 AM |
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Tuesday, January 08, 2008
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John L. Scott Agents,
Here is an interesting article regarding a trend towards utilizing in-house lenders you trust in today's market.
Issue Date: RESPA News Monthly
January 2008, Posted On: 1/7/2008
Headline News
Agents now favoring in-house lenders, survey says:
It appears that there has been a dramatic shift in the way agents view lenders, as a new survey is reporting that the mortgage market turmoil of recent months has prompted a significant number of real estate agents to recommend the lenders owned by their own brokerage firm over large national lenders. This survey puts an interesting new spin on a controversial topic that was heavily debated both in state court and in the court of public opinion last year.
The recently completed national survey by Campbell Communications questioned agents about how the ongoing mortgage crisis has impacted the home purchase market. It also asked agents to rate individual lenders on their performance in ...
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| Posted by Bob Bass at 10:20 AM |
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Tuesday, January 01, 2008
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Well, Well, Well?school is back in session and we will all be racing to the office today to catch up on tasks we may have put off over the Holliday?s. The upset Seller, the lost Buyer, the loan information we needed to get in?which all needs to be dealt with today. O? the intensity of today?s buyers and sellers, what should we do? As I was driving in I couldn?t help but reflect on the events of the last few weeks. The stories told and the movie watched. A Christmas Carol, Elf, and even the story Tortoise and the Hair were all viewed or discussed. I think I even had a dream about Jimmy Stewart running the streets of Boise in the snow. No matter what time in history, human events take place and people respond to life in the same way. The trials and tribulations of human nature, they never seem to change. Wow. So, naturally I always relate these ancient tales to our daily lives.
Sometimes, we do set our sights too high or expect to reach them in an unreasonable short period of ...
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| Posted by Bob Bass at 10:11 AM |
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