Partial $8,000 First Time Home Buyer Tax Credit Extension

The first time home buyer's tax credit has been a much buzzed about topic this year and while it is set to expire on November 30th, the extension talks have now stepped up.

Last week, the House passed a bill allowing for the extension of the credit for military, diplomatic and intelligence personnel who are overseas. This extension signals the hope that Congress will agree to extend the credit for everyone else into 2010.

Talks of renewing the current credit and providing the tax credit to a broader group of buyers, those who are selling their current homes and purchasing a replacement home, continue.

The question of funding without adding to the deficit remains the key. The New York Times reported the possibility of using money from the 2009 $800 Billion dollar package.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

Based on article from Kenneth R. Harney.

Real Estate Market on the Rise

While some market outlooks have been grim, the Real Estate market is welcoming a warm front. Sales, home prices and contracts on properties are on the rise while interest rates are on the decline, all which can contribute to a positive swing in the Real Estate market.

This was the 7th month straight that pending home sales have risen, the longest streak since 2001. Pending home sales increased 6.4% since August. This figure measures the number of homes under contract and is an important indication of where home sales are headed.

Home sales increased 8.2% in the Northeast, 7.6% in the Midwest, and 16% in the Western States.

Good news also comes from the Commerce Department, which reports that home sales are up seven tenths of a percent nationwide.

According to the Case-Shiller Price index, prices have increased the most in the past month, with an 1.6% increase. L.A and D.C. had 1.8% increases, San Francisco 3.3%, Chicago 2.7% and Minneapolis up 4.6%

In addition to prices increasing, mortgage rates have been decreasing, coming in at 4.9% for 30 Year fixed rates and 4.3% for 15 year fixed rates. If they continue on this pattern, rates will be at a 40 year low, which will not only increase home sales but also refinances.

This is good news on many different fronts of the Real Estate market and hopefully will continue to improve the market conditions.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.
Information taken from article: Real Estate Outlook: Sales Stats and Rates by Kenneth R. Harney

Free Zoning Change Advice

Denver is currently undergoing one of the greatest zoning transformations ever and is expected to be introduced next year. This is bound to have an impact on property owners; what the specific impact will be is unclear.

Some proposed changes include an increase in the number of zone districts, from around 30 to 96. Some areas will also impose height restrictions, eliminating third stories or roof decks. However, what the changes will be exactly is still not clear.

Sprocket Design-Build, a Denver based company, is offering a free assessment on property zoning and an explanation of how your property could be impacted. For the free property assessment opinion send an email to zoning@sprocketdb.com.

Sprocket will look up your current zoning and then determine how it is slated to change under the new zoning laws. This is particularly helpful if you're interested in doing a remodel or scrape and are concerned that your plans will no longer be allowed under the proposed zoning laws.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.

Based on article from insiderealestatenews.com by John Rebchook.

Fall Fun in the Mountains!

Fall is officially here!
Georgetown is hosting their 3rd Annual Aspen Festival this weekend. The festival takes place Saturday October 3 from 10 am to Dusk and Sunday October 4th from 10 am to 5pm. It's a great opportunity to see the Aspen leaves change, hear live music, browse crafts and eat great food.
If you have extra time, head over to the Pumpkin Festival at Georgetown Loop! Where you can take a train ride through the Mountains and see the trees up close. There will also be a hay maze and more fun activities. The Pumpkin Festival at the Georgetown Loop will be taking place the first two weekends in October.

Joan Rogliano has been practicing real estate for 25 years. She is a Certified Luxury Home Marketing Specialist and a Certified Real Estate Divorce Specialist.