What a Buyer Wants

 What are today's home buyers looking for? According to a survey* of  22,000 recent home buyers, they plan to be “more practical” in their next purchase, focusing on livable space rather than "unnecessary upgrades."  Extras such as pools, media rooms and even dining rooms are considered unnecessary luxuries, with the focus being more on such things as:

• Efficient use of space (e.g. cabinets that go all the way to the ceiling)
• More workable kitchens (islands are still quite popular)
• "Greener" features (insulation, high-efficiency appliances)
• Nearby walking paths and playgrounds

In the master bath, whirlpool tubs are giving way to soaker tubs. But both are secondary to oversized showers.

Some features that are still important to buyers, however, include a home office, minimum two-car garage, and master suite on the ground floor (if it's a two-story home).

Of course, I think most buyers these days (40% of whom are first-timers) are also looking for a good deal.  With interest rates and prices at historic lows, and with a small window of opportunity to cash in on the tax credits now available, what better time to be a buyer?  Feel free to browse current Chico properties for sale at my web site:  www.ChicoLaura.com

 * As cited in the L.A. Times.  To read the whole article, click here.

$8,000 First-Time Buyer Tax Credit

 Hurry, hurry, hurry!  The $8,000 First-Time Buyer Tax Credit is about to expire! (November 30, unless it is extended, which is currently being discussed in Congress.)  There hasn't been a better time in recent history to be a first-time home buyer.  Prices and interest rates are unbelievably low, and this tax credit is a rare and wonderful opportunity.

Please click here for more info on the Tax Credit and here for a handy FAQ to see whether you or someone you know qualifies.  (Or feel free to forward this blog.)  With a typical escrow taking 30 - 45 days (closer to the latter, with the challenges we've been experiencing with appraisals lately), there is no time to lose!

Feel free to email me at Laura@ChicoLaura.com with any questions.  We love working with first-time home buyers; their enthusiasm in always energizing!

Home for Sale: 1432 N. Cherry Street

The front house is a 3 bed PLUS a 9x11' attic loft. A detached "guest" studio with bath, kitchen facilities and heat/air in back. Great location just blocks from CSU Chico and downtown. The main house was recently painted and remodeled with new kitchen cabinets, solid granite counter tops, newer dishwasher and stove, central heat/air, mostly dual-paned windows, and new roof in 2007. The home also features hardwood floors and a deck for BBQs. Check out the extra-deep lot!

For more photos and a virtual tour click on the photos or visit my website: www.ChicoLaura.com

First-Time Buyer Tax Credit

What's this about a first-time buyer tax credit? (Part of the American Recovery and Reinvestment Act of 2009, a.k.a. the Stimulus Bill.) Well, if you haven't owned a home in the past 3 years, and if you qualify under the income and various other guidelines, you may be eligible for an $8000 tax credit if you purchase a home to use as your primary residence before 12/1/09. Click here to view a simple graph outlining the details (courtesy of Diana Sanford of Stanford Mortgage; thanks, Diana!). How do you know whether you qualify for the tax credit? Click here for a brief article detailing the requirements.

This tax credit, combined with bargain-basement prices and low interest rates, create a true window of opportunity for first-time home buyers. If you know of anyone who may qualify, please pass this blog post along. They will thank you for years to come!