Now is the Time to Buy!  2009 The Year Of The First Time Homebuyer History is made again, on February 17, 2009 President Barrack Obama signed the “American Recovery and Reinvestment Act of 2009,” What does this mean for you as a First Time Home Buyer? It means an l) IRS Tax Credit, ll) Increased Loan Limits, lll) Lower Interest Rates and lV) Lower Prices. All these buying incentives have aligned and thus creating this historical opportunity to own a home. We’re in unprecedented times and this is WHY IT”S TIME TO BUY: l.) You don’t have to pay it back (unless you sell in 3 yrs or less) ll.) Includes new and resale homes. (Primary residence only) lll.) Maximum CAP of $729,750  ( Fannie Mae and Freddie Mac Loans) lV.) Tax Credit is 10% of purchase price up to $8,000.

Mary Ann Cadorna, Realtor Allied Everest Real Estate

l.) IRS TAX CREDIT: It provides up to an $8,000 tax credit for First Time Buyers. This credit applies to homes purchased from January 1, 2009 to December 1, 2009. To qualify, it has to be your primary residence, you haven’t purchased a home in the past three years. Also, you don’t have to pay it back unless you sell in 3 yrs or less. WOW, you give yourselves a tax credit just for a buying a home in 2009. (Check with your tax representative for specifics & qualifiers)

ll.) CAP INCREASE LIMIT: According to the National Association of Realtors (NAR) Estimated 2009 FHA HUD, and (awaiting official published HUD limits) : Fannie Mae and Freddie Mac Loan Limits for these Bay Area Counties are:

• ALAMEDA     $729,750

• SOLANO     $557,500

• CONTRA COSTA     $729,950

• SACRAMENTO     $580,000

• NAPA     $729,950

• SONOMA     $662,500

• SAN FRANCISCO     $729,950

• SAN MATEO     $729,950

lll.) LOW INTEREST RATES: The high risk adjustable loans of the past are now history. We can rebuild the American housing market with 30 year fixed mortgages which is currently around 5%. (Please check with your lender as rates change daily)

lV.) LOWER HOME PRICES: In some bay area counties the prices are slashed to more than half. Where ever you search in the Bay Area prices have dropped. Now affordable homes, plus incentives for those who were shut out in the past. There are bargains galore search the Allied Everest Website to find your dream home.

Don’t wait, don’t hesitate, for you finally get the brass key ring to open the door to your first home. The American dream is back, don’t miss this historical First Time Home Buyer love boat. This is special boat is only docked from January 1, to December. 1, 2009, and the boarding pass of incentives may not be offered again. Don't let this love boat pull out of harbor without you and let your dream of home ownership get away. If you are ready to jump on board and join my many, very happy first time home buyers, let me help you too by calling me today.

MaryAnn Cadorna and Allied Everest, we can help sail your ship and get you home.
Direct: 925-286-1888
Toll Free: 866-900-1888