Bremerton 1st Time Home Buyers – Don’t let the $8,000 Tax Credit Expire!

Just found this Video online and thought it the perfect simple explanation -

I have several first time home buyers at the moment and we have all been talking about the new First-Time Home buyer Credit. This is the new 2009 First-Time Home buyer Credit. The $8,000. tax credit that is a credit and NOT a loan. This credit DOES NOT have to be paid back and as everything there are exceptions. The exceptions are…

• Must use the home as a principle residence for at least three years or face recapture of the tax credit amount. Certain exceptions apply. Ask your tax adviser or read Form 5405

So back to the “Who is Eligible?”. You can claim the tax credit if you are a first-time home buyer. Have you ever purchased a home? If the answer is YES you STILL MIGHT BE ELIGIBLE. The first-time home buyer must be able to state you did not own any other home during the past 3 year period that would end on the date of your new purchase. So see you may be a first-time home buyer even if you have owned a home. It is home-buying “do-overs”!

1. You must have purchased your home after January 1, 2009 and before December 1, 2009 to claim the tax credit.
2. Sometimes it is easier to decide eligibility if you know who CANNOT claim the credit
3. Your modified adjusted gross income is over $95,000 or $170,000 if married filing a joint return.
4. You are a nonresident alien.
5. You acquired your home by gift or you inherited it.
6. You purchased your home from a person you are related to.

There are other exceptions but for your local Kitsap area they don’t mean much. You can find them on Form 5405.

Of course you will want to verify all of this with a tax consultant or go to the IRS web site and look for IRS Form 5405.

I have some ideas about this credit for local buyers so if you are interested please send me an email for more discussion!

Port Orchard WA Real Estate | August Homes Sold | Homes Sold in Port Orchard WA 2009

During the month of August there were 77 homes that sold in Port Orchard (up from 68 in July). These Port Orchard homes actually had a transfer of home ownership. Contracts complete and Lender funds available the home buyer and seller signed all of their documents as escrow prepared the closing packages. Once all the I’s were dotted and the T’s crossed there where deeds recorded at the Kitsap County courthouse that transferred the property into the new home owner’s name!

If you want to learn more about how we transfer property in Washington State a really great site to visit is the Escrow Association of Washington site. There you can find definitions and explanations of the home buying process for Port Orchard Washington.

Let’s look at those 77 Port Orchard homes -

Average List Price

• $251,824
• $140 per sq ft

Average Sold Price

• $250,568
• $139 per sq ft

The average sq ft of these 68 Port Orchard homes was 1798 sq ft. These homes spent an average of 150 days on the market (DOM).

The list to sale ratio for these homes was 97.32 percent. What that meas is that buyers offered 99.50 % of what the seller requested.

Not a bad time to purchase a home in Port Orchard, Washington. In fact it is a great time if you are a 1st time home buyer and qualify for the $8,000 tax credit – CREDIT! NOT loan! Read the information I have written about the program here

have written about the program here

• $8,000 First Time Homebuyer Tax Credit | Who is Eligible in Kitsap County
• It’s Official – 1st Time Homebuyers Receive $8,000 Tax Credit Windfall!
• $8,000 First Time Homebuyer Tax Credit | Want your money Now?

Bremerton WA Real Estate | August Homes Sold | Homes Sold in Bremerton WA 2009

During the month of August there were 76 homes that sold in Bremerton. (August homes sold wans’t as hot as July – a decrease of 19 but still a good month.)  These Bremerton homes actually had a transfer of home ownership.  Contracts complete and Lender funds available the home buyer and seller signed all of their documents as escrow prepared the closing packages.  Once all the I’s were dotted and the T’s crossed there where deeds recorded at the Kitsap County courthouse that transferred the property into the new home owner’s name!

If you want to learn more about how we transfer property in Washington State a really great site to visit is the Escrow Association of Washington site.  There you can find definitions and explanations of the home buying process for Bremerton Washington.

Let’s look at those 76 Bremerton homes -

Average List Price

• $218,035
• $131 per sq ft

Average Sold Price

• $211,758
• $128 per sq ft

The average sq ft of these 76 Bremerton homes was 1700 sq ft.  These homes spent an average of 117 days on the market (DOM).

The list to sale ratio for these homes was 97.12 percent.  What that meas is that buyers offered 97.12% of what the seller requested.

Not a bad time to purchase a home in Bremerton, Washington.  In fact it is a great time if you are a 1st time home buyer and qualify for the $8,000 tax credit – CREDIT! NOT loan! Read the information I have written about the program here

• $8,000 First Time Homebuyer Tax Credit | Who is Eligible in Kitsap County
• It’s Official – 1st Time Homebuyers Receive $8,000 Tax Credit Windfall!
• $8,000 First Time Homebuyer Tax Credit | Want your money Now?

Check out some of Kitsap County Real Estate Market Data here - Kitsap County Real Estate Market Data FYI

What do these numbers mean?  Is it a good time to buy? Is it a good time to sell. It all depends on your individual situation.  I would rather buy in a buyers market and I would rather sell in a buyers market if I have to buy another home with the proceeds.  I am a fan of the NORMAL market – everyone can feel more comfortable and real estate transactions are not as stressful.

If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a FREE Market Analysis.

If you would like to purchase a home in the Kitsap County Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.

Bremerton Real Estate 2009 Market Reports

• Bremerton Real Estate | February Homes SOLD
• Bremerton Real Estate | March Homes SOLD
• Bremerton Real Estate | April Homes SOLD
• Bremerton Real Estate | May Homes SOLD
• Bremerton Real Estate | June Homes SOLD
• Bremerton Real Estate | July Homes SOLD

“Statistics not compiled or published by NWMLS.” Equal Opportunity Housing All information deemed reliable, but not guaranteed

Silverdale WA Real Estate | July Homes Sold | Homes Sold in Silverdale WA 2009

Silverdale Real Estate Market Report

During the month of July  there were 24  homes that sold in Silverdale.  These Silverdale  homes actually had a transfer of home ownership.  Contracts complete and Lender funds available the home buyer and seller signed all of their documents as escrow prepared the closing packages.  Once all the I’s were dotted and the T’s crossed there where deeds recorded at the Kitsap County courthouse that transferred the property into the new home owner’s name!

If you want to learn more about how we transfer property in Washington State a really great site to visit is the Escrow Association of Washington site. There you can find definitions and explanations of the home buying process for Silverdale Washington.

Let’s look at those 24  Silverdale homes that sold in July -

Average List Price

• $309,142
• $164 per sq ft

Average Sold Price

• $304,204
• $162 per sq ft

The average sq ft of these  Silverdale homes was 1900 sq ft.  These homes spent an average of 101 days on the market (DOM).

The list to sale ratio for these homes was 98.40 percent.  What that meas is that buyers offered 98.40% of what the seller requested.

Not a bad time to purchase a home in Silverdale, Washington. In fact it is a great time if you are a 1st time home buyer and qualify for the $8,000 tax credit – CREDIT! NOT loan! Read the information I have written about the program here

• $8,000 First Time Homebuyer Tax Credit | Who is Eligible in Kitsap County
• It’s Official – 1st Time Homebuyers Receive $8,000 Tax Credit Windfall!
• $8,000 First Time Homebuyer Tax Credit | Want your money Now?

What do these numbers mean? Is it a good time to buy? Is it a good time to sell. It all depends on your individual situation. I would rather buy in a buyers market and I would rather sell in a buyers market if I have to buy another home with the proceeds. I am a fan of the NORMAL market – everyone can feel more comfortable and real estate transactions are not as stressful.

If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a FREE Market Analysis.

If you would like to purchase a home in the Kitsap County Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.

Silverdale Real Estate 2009 Market Reports

• Silverdale Real Estate | February Homes SOLD
• Silverdale Real Estate | March Homes SOLD
• Silverdale Real Estate | April Homes SOLD
• Silverdale Real Estate | May Homes SOLD
  
• Silverdale Real Estate | June Homes SOLD

“Statistics not compiled or published by NWMLS.” Equal Opportunity Housing All information deemed reliable, but not guaranteed

Bremerton’s Blackberry Festival – Labor Day Weekend Fun

Labor Day weekend | 20th Annual Blackberry Festival

Sept 5-Sept 7, 2009

Hours: Saturday, Sept. 5th- 10 AM to 8 PM,

Sunday, Sept. 6th- 10 AM to 7 PM

Monday, Sept. 7th- 10 AM to 5 PM

You want to know where the action will be this weekend in Bremerton? DOWNTOWN – HARBORSIDE! This is the weekend for the 20^th Annual Blackberry Festival held down on the Bremerton Boardwalk.

There will be over 100 booths with everything from arts & crafts to you guessed it “FOOD”! You know what kind of food I am talking about! Hamburgers, hot dogs, corn dogs, chicken burgers, BBQ ribs, chicken and beef brisket, corn on the cob and oh man dare I say more!?

You will also find tons of amazing ethnic foods like teriyaki, shrimp on a stick, spring rolls, gyros, crepes and tacos! Don’t forget the Blackberry delights!! Blackberry slugs, scones, pie and that amazing Blackberry shortcake!! After all it is the Blackberry Festival.

I don’t know why I love it so – I sure hate those pesky bushes creeping up in my flower beds!! But on this weekend they are my friend!!