THE BUZZ
Hi [[autoname]],
As we approach the holidays, let’s take a minute to reflect on some good real estate news. On a national level, home sales rose 10.1 percent this October, a marked increase of 23.5% above October 2008 sales numbers. Pending sales for this November are up and signal that this positive sales trend is continuing. Usually December and January are very slow months for sales due to the constraints of holidays. Experts predict that by early spring, we will see strong activity in the market.
Inventory nationwide is much lower than last year at this time. Lawrence Yun, Chief Economist for the National Association of Realtors, notes:
- “After a possible activity decline this winter, we expect another surge in spring and early summer.”
- “There is still a pent-up demand from buyers who can benefit from the tax credits being offered on a federal level.”
- “Mortgage rates last month were the third lowest on record dating back to 1971.”
Sellers become buyers and vice versa. As people watch the upward trend, many are considering selling now and taking advantage of the lower prices and good financing. These are really interesting times. Know that I am watching the statistics daily and am committed to helping you. And have a Happy Holiday!
| FEATURING... | |
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Gorgeous private paradise only 15 minutes from downtown Healdsburg, 20 minutes from Santa Rosa. Rare abundance of water from a variety of sources. Topographic surveys of two building sites prepared, septic system designed, engineering for a bridge across the creek and a plan for PG&E lines. Incredible opportunity for creating an estate or simply enjoying a retreat from fast paced life. |
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Thoroughly modern in sensibility, yet embracing the historical character of Healdsburg, this magnificent residence is nearing completion. Elements of the 110-year-old former structure inhabit this new dwelling, built to last the next century and beyond by local artisan Grant Lane. |
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Q: How is “the eco-friendly movement” affecting real estate decisions?
A: A home in an environmentally friendly neighborhood is very desirable today. If you go to www.epa.gov you can enter a location by zip code and get detailed information of the air quality, water quality, and other environmental ratings of any US area. Neighborhoods are also now being rated for “walkability.” Recently WalkScore.com rated 2,508 neighborhoods in the largest 40 U.S. cities to help buyers find a walkable places to live. 138 neighborhoods made their Walker’s Paradise list with scores of 90 and above. The top five were:
- San Francisco, CA
- New York, NY
- Boston, MA
- Philadelphia, PA
- Seattle, WA
Walkability is even capturing national attention. Walkers are looking to lobby Congress to support walking, biking, and public transportation in the 2009 Transportation Bill. Go to www.walkscore.com/rankings to learn more and also receive a newsletter on this new urban trend.
I checked out my new 332 East Street listing on walkscore.com and it earned a 100 point rating out of 100 possible points! One block from the Healdsburg Plaza and the Flying Goat for espresso, Tuesday Concerts all summer, the Farmer's Market, shops, restaurants and all.
We all talk about going green. It seems that soon every town will have one of these – a rebuilding center. The first non-profit center for rebuilding began in Portland, Oregon (www.rebuildingcenter.org) a decade ago when a group of builders started collecting unwanted building materials from local construction sites and selling them to raise money for local causes. The center offers a free pickup service for used building materials from local homeowners. Each day they pick up an average of eight tons of building materials, generating $3 million annually in revenues for the center.
The trend to deconstruct rather than demolish homes is growing. Although it costs more to disassemble and salvage usable parts of a home rather than demolish, increasing numbers of homeowners are making the commitment to support their communities by donating salvaged building materials. For example, at a rebuilding center, customers pay 50% - 90% off retail for everything from screws to giant HVAC systems.
There are hundreds of companies nationwide that now offer some sort of building deconstruction or salvage service. Links to these businesses can be found online through the Building Materials Reuse Association - www.bmra.org. The next time I remodel, I’ll consider recycling unwanted items to help others, and reduce my carbon footprint, all at the same time.
I’ve written to you before about the Worker, Homeownership, and Business Assistance Act of 2009 that offers a tax credit of up to $8,000 for qualifying first-time homebuyers purchasing their principal residence. The new act also authorizes a tax credit of up to $6,500 for qualified repeat homebuyers.
This offer is for a “long-term resident” or a person or couple who have owned and resided in the same home for at least five consecutive years of the prior eight years. If you fall into that group, it is important to note that you do not have to buy a home that is more expensive than your current home. (Purchases of homes over $800,000 are not eligible for the tax credit.)
The tax credit is equal to 10% of the new home’s purchase price, up to a maximum of $6,500. But there are income limits: for single taxpayers, the income limit is $125,000; for married taxpayers, the income limit is $225,000. If you are interested, you can check out the National Association of Home Builders site at www.federalhousingtaxcredit.com or www.irs.gov for all the details.