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If you are interested in buying an Anchorage home, there are a few common mistakes that buyers can avoid if they know what to look for. You definitely want to keep a list of your questions handy at all times and always hire the right team of professionals for your needs to make sure your Anchorage real estate purchase goes smoothly and effectively.
Choosing the right agent for you - Since both personalities and experience can vary greatly from agent to agent, you should interview several local REALTORS® before deciding which one you want to represent you. Before you interview an agent, get a list of your most important questions together and use them to help you find out their qualifications and if they are a good “fit” for you.
Research lenders – Again, gathering a list of your most important questions will help get the interview process moving along. Ask anything and everything you want to have answers for. With the predatory lending practices of mortgage companies in the past, you want to make sure you understand every aspect of what goes into your mortgage.
No window shopping – If you are looking in an area that is considered to be highly desirable, there will be a ton of competition. A home for sale in a desirable area doesn’t have the same issues as one that isn’t. This means that if you’re not ready to buy at that time, it may not be there when you are ready. So, only look for a home when you are absolutely ready to purchase one.
Think about the future – While you may be fine with the small bedrooms, no master bathroom and a laundry room in the garage, will another buyer feel the same? If you are purchasing an Anchorage home now with the thought of selling it in a few years, you need to consider the home’s resale value. You also want to check out the neighborhood to see if the homes are appreciating in value or if they are on a losing streak. If they are still tumbling in value, that could mean that you may find yourself losing money when it comes time to sell it.
By keeping these common mistakes buyers can avoid in mind when looking for your Anchorage home, you are sure to come out ahead in any real estate transaction. If you are considering purchasing any Anchorage real estate, make sure to contact me today!
The First Time Homebuyer Tax Credit deadline is fast approaching. In order to take advantage of up to $8000 in tax credits, you must have an Anchorage home in a binding contract by the end of business on April 30, 2010. That’s just about a week and a half away. That doesn’t leave much time to find your Anchorage dream home and get it under contract. If you’re a current homeowner looking to buy a new Anchorage home, you only have a week and a half to take advantage of the $6500 tax credit available. A first time homebuyer is someone who has not owned a home in the last three years. If you owned one previous to that, you are still considered a first time homebuyer.
Who qualifies for the tax credits:
1. Married couples who file jointly and make no more than $225,000 or single/married filing head of household families who make no more than $125,000.
2. Homebuyers looking to purchase a home for their primary residence. This means no vacation homes, income property, vacant land or commercial buildings.
3. Homebuyers purchasing a home for no more than $800,000.
If you make more than $125,000 for single/married filing head of household or $225,000 for married couples, you may be eligible for part of the tax credit. Contact your Anchorage real estate professional to find out what this might be. As long as you live in your newly purchased Anchorage home for three years, you can keep the entire tax credit you receive. If you decide to sell the home purchased under these guidelines or stop using it as your primary residence within three years, you will have to pay back the tax credit.
Let me know if you’re a first time homebuyer looking to take advantage of the tax credit before the deadline comes. I’d love to assist you in finding your Anchorage home and help you get a little money back in the process. But hurry because time is running out quickly.
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