I recently read “3 People the Homebuyer Tax Credit Helped” on CNNMoney.com about 3 real life people who took advantage of the homebuyer tax credit. It got me thinking about what a great opportunity this can be for first time buyers who are on the fence about purchasing a home.

The  program is part of the stimulus bill  created by Congress. It offers up to a $8000 tax credit to first time home buyers as an incentive to boost home sales.

I know from personal experience that when you’re purchasing a home for the first time, $8000 added to your budget can make a huge difference. In fact it could make the difference between deciding to purchase and feeling like you just can’t quite swing it financially.

The article sited 3 different people from different parts of the country who took advantage of the credit. In all 3 cases, the tax credit had a huge impact on their ability to purchase a home.

Rob Logan purchased his home in October 2009. “I wouldn’t have been able to afford my house without it, it was one of the main reasons I started looking”.

More good news! The original credit expired in November, but due to the popularity of the program has been extended to April 30, 2010. There is talk of a further extension as well.

With the changes that have taken place in the real estate market over the last few years, it is more important than ever to look closely at and choose wisely  any remodeling projects you may be considering.

The average return on value for a remodeling project declined from 87% in 2005 to 64% in 2009. Follow these simple guidelines to ensure the maximum return on your remodeling investment.

1. Repair rather that upgrade:
Having many upgrades in your home can enhance the enjoyment of the home as well as attract buyers. However, defects caused by improper maintenance of your home can quickly become a major financial burden for you in addition to eliminating the interest of any potential buyer. No one wants own or purchase a home with issues.

By neglecting to disclose defects to your potential buyer, you are putting yourself at risk to pay a penalty. This, in addition to having to foot the bill for the repair, will only add to the time and expense of closing a potential deal.

If need be, have a home inspection. Address any problems that the report reveals. By performing routine maintenance you will ensure the comfort and safety of your home as well as making it more attractive to buyers.

2. Remodel existing space rather than adding square footage:
The current trend in real estate favors quality over quantity. A multi-use great room for example, is more desirable than a formal living room and separate family room.

Consider finishing a basement or attic. Keep an open floor plan idea in mind as you visualize reconfiguring the space you use now into more user friendly square footage.

3. Don’t over-remodel or upgrade:
When planning a project, keep the neighborhood in mind. Your amenities should be comparable to the other homes on the block, especially if you are planning on selling.

If your plans are to stay in your home for more than five years, now may be an excellent time to consider doing that home improvement project you’ve been putting off. Home improvement contractors are hungry for work and are willing to offer more competitive pricing just to keep their workers busy. Getting multiple bids may translate into a real bargain for you. But, as always, don’t base your decision solely on price. Always ask for and check references.

If you plan on moving within 3 to 5 years experts agree that you should not take on the expense of a major project. The risk is just too high that your investment, aside from necessary repairs and cosmetic work, could be lost while the real estate markets continues to struggle.

4. Think Eco friendly and Tech infrastructure:
Green features save you energy and money, as well as making the home more desirable to todays eco-friendly home buyers.

Take advantage of federal tax credits, plus local rebates and tax incentives (see dsireusa.org) by replacing worn appliances with new Energy Star appliances and adding extra wall insulation.

If you do open a wall for a construction project, consider adding extra cable and Ethernet ports. At a cost of about $80 per room, you will ensure your home will have the capability to utilize new technologies that come along.

Do some research and carefully consider your goals when planning a remodel project. Make an informed decision in order to benefit your individual situation and maximize the return on your investment.

Capital District homes sales were up 8% in December of 2009 compared to December of last year.

November sales this year also beat November sales from last year.

The news was especially good because speculators had predicted a slump in December. This prediction was based on the premise that the federal tax credit for buyers was due to expire at the end of November.

The $8000 rebate, speculators feared, was a huge factor in artificially boosting November sales. They feared December numbers would crash. However, the tax credit was extended and even expanded and helped keep the local numbers balanced for December.

According to Greater Capital Association of Realtors there is evidence to suggest that the local market is stabilizing. However it does remain a buyers market, with prices flat or down slightly.

The Capital District area has been largely unaffected by the worst recession in decades and remains a good place to live and work.

Tired of sitting around at home in Clifton Park? Why not get out and experience a free day of fun at Clifton Park’s 20th Annual Winterfest?

The event is scheduled for this Saturday,  February 13 and will include both indoor and outdoor activites. Bring the family. There is sure to be something for everyone!

For more information see:
Clifton Park Winterfest

So the saying goes - “You never get a second chance to make a good first impression.”  When selling a home, the sign in the front yard is a big part of that first impression. Yet, many Capital Region for sale by owner home sellers seem to overlook this critical piece of their marketing campaign.

I recently drove by a Guilderland home for sale by owner. I instantly knew the house was for sale by owner because of the sign by the road, so in that respect it did it’s job. But the sign was bent over and nearly touching the ground and I really had to struggle to read the hand-written phone number of the home seller. In addition, there was no flyer box attached to the sign for a potential buyer to pick up detailed information about the home. I remember shaking my head thinking to myself “What kind of impression does this convey about this home? Are they even serious about selling?”

This isn’t an isolated scenario. I see it all over. It’s seems that many homeowners just don’t seem to get the importance of professional signage when selling a home. Here are some guidelines to make sure your drive-by traffic is getting the best impression of your home.

Yard signs should be easily visible from the street, and have a contact phone number clearly displayed.

Directional signs should always be used if you live off the beaten path. Place them at the end of all streets leading to your house. Write your address on them. They will have an arrow pointing the way to your home.

If you’re having an Open House, use directional signs specifically made for this purpose. You can also add an Open House attachment to your yard sign that will specify the day and time of your Open House.

Put a flyer box out in the yard (preferably attached to the sign), and keep it stocked with flyers. The flyers should  include the following: a description of your home, the asking price, a contact phone number or email address, or both, and multiple photos of the home.

Our FSBO Albany sign package includes everything you need to attract that drive-by traffic! A professional and easily visible 18×24 yard sign with the photo flyer box attached, a phone number set for the sign, and directional signs.

When you place an ad with us, you will have the ability to print photo flyers from your ad on our website. The flyers include your full ad description with contact info, price and up to 8 photos…perfect!

When marketing your home, don’t underestimate the power of signs and flyers. Taking an all-inclusive approach to your marketing strategy will ensure that your efforts are rewarded with success! Good luck and Happy Homeselling!