Home Buyer Tax Credit Extended!

Congress and President Obama have finalized the extension and expansion of the First-Time Homebuyer Tax Credit through April 30, 2010.
Here are some details:
1) How the Extended Homebuyer Tax Credit helps first-time homebuyers:· First-time homebuyers can get a tax credit of up to $8,000 when they buy a principal residence. · Buyers are eligible if they have not owned a home in the previous three years. · Buyers have to sign purchase agreements before May 1 and close before July 1.· The price of the home and the buyer's income will affect how much the tax credit would be, if there is one at all. For example, this credit can only be claimed on primary residences purchased for less than $800,000.
2) How the Extended Homebuyer Tax Credit helps current homeowners:· Homeowners are eligible for a $6,500 tax credit if they purchase a new or existing home through April 30 AND they have lived in the home being sold as a principal residence for five consecutive years of the past eight years. · If potential home buyers have a binding contract on or before April 30, they will have until July 1 to close the transaction in order for the tax credit to count. · The price of the home and the buyer's income will affect how much the tax credit would be, if there is one at all. For example, this credit can only be claimed on primary residences purchased for less than $800,000. · Buyers don't have to pay back the credit as long as they use the new property as their primary residence for three or more years after the purchase. For more information, MORe >

When will Downers Grove home prices go up?

Many buyers and sellers are asking me when home prices will return to the record prices seen during 2005-2006. Moodys and Fiserv have actually studied this point. The answer is different for every state. Some states will rebound as early as 2014, but for Illinois residents the wait will be longer. The estimate is that our pricing will return to 2005-2006 levels somewhere from 2018-2022. If you are thinking of selling, do it now! Prices could be lower when more foreclosures hit the marketplace. If you are thinking of buying, just remember, you are getting record low prices now and great interest rates. Buy now before rates start to go up next spring!

A Home for Pilots!

Do you have a small airplane?
This home in the Brookeridge Neighborhood of Downers Grove has an Airplane Hangar and it is located on the Taxi Way with access to the Landing Strip. This 3100 square foot home is a short drive to downtown Chicago and it is beautifully updated! No Plane? The Hangar and attached 2 Car Garage is awesome for boat or RV storage or this heated space could hold 6 cars!
632 Berkshire Court, $749,900 MLS # 07339495
See virtual tour below:

http://www.visualtour.com/shownp.asp?T=2023283

Call Mary (630) 258-7677 to see it today!

Downers Grove-Best Place to Retire!

Downers Grove has been rated #5 by CNNMoney.com in their list of the 20 Best Places to Retire. The article mentions the 49 award winning parks in Downers Grove, the award winning Good Samaritan hospital as well as an abundance of good restaurants and the close proximity to Chicago for cultural events. Our secret is out!

The Best Hair Stylist in Downers Grove!

Hey, everyone needs help to look their best. My husband Rich and I go to Rose Startz, clearly one of the masters of her craft! Here is a short clip (get it, clip?) of her cutting Rich's Hair... http://www.youtube.com/watch?v=1FNtQG2Rt0E

I have been visiting Rose regularly for 23 years, wow!

You can contact Rose at (630) 607-9855 RoseStartz@comcast.net

Sears Home Tour in Downers Grove

The Downers Grove History Museum is offering two Trolley Tours one Historic Downers Grove Tour and one featuring the historic Sears homes in Downers Grove on September 12, 2009. Tours begin and end at the museum. Enjoy the museum's exibits and light refreshments after the tour. Additional parking is available at Lincoln Center, 935 Maple Ave. Trolley Space is limited. Call the Museum for more information (630) 963-1309.

More Money for First Time Homebuyers!

The Illinois Housing Development Authority (IHDA) has a propgram available for First Time Homebuyers called Mortgage Credit Certificates or MCCs. Some of this money is earmarked specifically for people buying homes in Downers Grove. This tax credit certificate will lower the amount of Federal Income tax due each year for the homeowners for up to 30 years. This is in addition to the $8000.00 First Time Buyer Tax Credit. You must use a participating lender and there are income and maximum purchase price limits. The cost for this program is $500.00.
Contact me for more information mary@marybraatz.com