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Great news for home buyers, sellers and owners, alike.  The homebuyer tax credit has been expanded to include step up buyers, who have owned a home for 5 years.  It also extends the tax credit through the end of 2010.  

GREAT NEWS! 

It appears that Senate Democrats have recognized the tremendous value of the First Time Homebuyers Tax Credit and odds are it will be renewed soon. At this time, it is believed that the credit will allow anyone purchasing a home, by April 30, 2010, to participate and receive the full credit available.

The credit will continue until the end of 2010, but the amount of tax credit will drop by 2 percent every 90 days.  The graduated benefit should help the housing market recover into and through the 2010 summer selling season.

Here is the text of the story as reported in Bloomberg News today:
Senate Democrats on Board with Credit Extension

Senate Banking Committee Chairman Chris Dodd (D-Conn.) says Senate Democrats have agreed to extend the first-time home buyer tax credit.  The latest version extends the program to home sales signed not closed by April 30. Purchasers would have another 60 days to close the sale.  The credit will also be expanded to include so-called step-up buyers who have lived in their current home for at least five years.

The credit would be cut slightly to a $7,290 cap.  Income eligibility for first-time home buyers would stay the same, but it would rise for step-up buyers to $125,000 for individuals and $250,000 for couples.
Source: Bloomberg News, Dawn Kopecki and Ryan Donmoyer (10/27/2009)

 Halloween, October 31, 2009.  This year Halloween falls on a Saturday and marks the end of Day Light Savings Time.  Be Safe and Don’t Forget to Roll your Clocks back at 2:00 am, Sunday morning.

InfoTube.net FREE homes for sale and rent website is wondering:  “Would you would eat these cakes???”   We will feature more incredible, edible Halloween cakes everyday this week.   Then, we are off to celebrate Halloween in New Orleans, LA and check out the housing recovery in the Big Easy. 

Thank you as always for visiting InfoTube.net.  Click the comment box below to weigh in on your favorite Halloween Cake.   Tommi Crow’s favorite is the one above.  Too Cool!!

I would probably eat this one.  Funny, but not too nasty and I love cake.

Now that is pretty knarly, but that dark chocolate looks good.

Which one is your favorite???  Click the comment box and tell us.  If you have a cake you want to brag about, email a photo to tommi@infotube.net

3 Short Real Estate News Items of Interest.

1. Good news for US Housing.  For those of you still searching for a BOTTOM in the real estate market, we hit it in January 2009.  A double bottom, in fact.  Take a look at the CHART.
2. China raised its minimum down payment requirement to 40 percent, in an effort to slow down the overheated housing market in Hong Kong.  Conversely, in the US, we still offer financing with NO Money Down, when the tax rebate is combined with FHA or VA financing.  Quite startling in light of the lessons we learned from subprime loans.
3. Uncle Sam Added 5 Percent to Home Prices.  Government interventions in the housing market have inflated home prices at least 5 percent higher than they would have been.  Artifically low interest rates, $8000 tax credits, push for loan modifications and efforts to stall foreclosures may have created a false bottom.  Since the props won’t last forever, the risk of price decline in the future is significant. 

Thank you for visiting InfoTube.net a FREE homes for sale and rent website.  Since 1988, we have kept our fingers on the pulse of the housing market.  If you would like to receive a reminder when we release a new article, click on our feed below.

 The stock market is back to 10,000, the level it reached in 1999.  Sales of existing homes were up a whopping 8 percent, to the highest level seen in 2 years.  The news is abuzz about an extension of the First Time Buyer Tax Credit….But, is it time to “Party like it’s 1999″???

Here is a snapshot of Friday’s real estate news.  You decide.

1. A record number of people snapped up bargains in September.  The median price of a home sold in the US fell to 174,000, down 9 percent from $191,200 one year ago.  Note: The significant price drop could be blamed in part to the First Time Buyer Tax Credit which favors the lower priced homes.
2. Keep in mind that the homes counted as “sold” in September were actually purchased in June, July and August.  No doubt the push to buy this summer had something to do with the expiring $8000 Tax Credit.
3. 70 percent of all homes closed in September were foreclosures or distressed property.
4. 80 percent of the homes closed, were sold for less than $250,000.  The market above $250,000 has stalled and inventory is rapidly growing.  And, the more expensive the home, the slower the market.
5. The biggest sales gains (not price gains) were seen in the hard hit cities of Miami and Orlando.  Sales in Miami were up 71 percent from last year, Orlando 65 percent.  Note: Prices are still falling dramatically in the Sunshine state.  In Miami and Orlando prices declined more than 30 percent from last year;  Tampa prices fell to $133,000, down 17 percent.
6. Sales of existing homes were down nearly 20 percent in Atlanta and Birmingham.  Local Realtors blame job loss for lack of activity.
7. Prices were flat or up a bit in some cities:  Dallas, Houston, San Antonio; Tulsa; Jackson, MS and Washington DC.

Thank you for visiting InfoTube.NET.  Search our site for thousands of great deals on property or Post your Property Listing for Free.   We never sell your info or spam anyone.  No popups or dead links since 1989.  Happy Friday to all!!

Marketing a vacant home can be difficult challenge, because empty rooms are hard to size up and they don’t stand out in a buyer’s mind.  This leaves every vacant home looking like the one next door, with the only difference in a buyer’s mind being, which home has the lowest price.

This problem may have been solved by Krisztina Bell, a smart Atlanta Realtor, who invented and patented a software program that will “virtually” stage any vacant property for around $250.  Her company has been heralded by the Chicago Tribune, San Francisco Chronical and other publications as the answer to giving the effect of a professionally staged home at a fraction of the cost.

With 90 percent of home buyers doing their shopping online, and thousands of vacant homes on the market, Ms Bell’s idea is smart and timely.  Her technique transforms listing photo’s of vacant homes into homes with professionally designed interiors, using a library of attractive furnishings, accessories and artwork.   The resulting “after” photo’s are realistic, authentic and hard to distinguish from a home that has been actually staged with furnishings.

To view the Photo Gallery of some impressive Before and After Pictures, please visit her website VirtuallyStagingProperties.com, by clicking this link.  You will be amazed.  And, if you have a vacant home to sell, you should seriously consider this inexpensive option and make your home pop.

Thank you for visiting InfoTube.net homes for sale and rent website.  If you virtually stage your home, be sure to upload the slideshow to InfoTube.net.  Thousands of buyer’s search our site daily for new information on properties.

Hasbro has a new edition of Monopoly for players who fantasize about having clout, women and power like Donald Trump.  The new Monopoly City, released as a board game, and Monopoly City Streets, an online game version, packs in the fun and gives players $3 million to buy streets, instead of tiny houses.  

Although the addictiveness of the game is the same as the original, you will experience some big, exciting changes.  If you are usually the Monopoly banker, you will certainly feel the effect of inflation, as you dole out $10,000 bills instead of $1 bills.  Also new, forget about feeling smug with your little hotel on Boardwalk, players in this high stakes game race to buy skyscrapers, stadiums, wind farms, sewage plants and garbage dumps.  And, not only can players collect hefty rents, they can bulldoze property and sabotage buildings to bring their values down. 

For those of us questioning why Hasbro would release the game in the midst of an economic crisis, the company reports that the game was in development before the melt down began.  And, ironically, the original Monopoly became popular with would-be tycoons during another economic crisis– The Great Depression, when Parker Brothers acquired it in 1935.  

Present real estate crash aside, Donetta Allen, spokeswoman for Hasbro, has this to say about the widely popular game ”It’s about the dream.  Monopoly has always been about that - the aspiration, I can’t do it in real life.  I want to do it on the board game.”  

There is one BIG difference between Monopoly City game and developing property in real life…. there’s no creative financing.  The game is cash only.  No debt.  No mortgage backed securities.  No credit default swaps.  Sorry, Trump.

Thank you for visiting InfoTube.net, a FREE Homes for Sale or Rent website.  Hint for holiday shoppers… Monopoly City is on my Christmas wishlist (:

A fireplace can be a huge selling point for any home or an eyesore that detracts from the room.  If the fireplace in your home is out dated or just plain ugly, you can transform it into a sexy, focal point without spending a lot of money.

Take a look at this brick fireplace.  It is a fireplace, but it is doubtful that buyers would conjure images of sipping wine by a roaring fire, in its present condition.

Now, take a look at the transformation, after engineered stone was applied over the old brick and a mantle was added.  The fireplace morphs from an eyesore into a floor to ceiling, hearthwarming focal point

In another example, this unattractive, dated fireplace with painted brick got a great makeover.  The homeowner correctly felt the fireplace was out of proportion, due to the narrow sides and tall top.  The mantle was also too small.

The After.  The budget minded homeowner added an “in stock” simple mantel and pilasters from a do-it-yourself center.  The design updated the fireplace, hid most of the outdated, painted over brick and brought the fireplace into correct proportion for under $750.

If your fireplace detracts from your home, get your creative genius in gear and simply cover it up.  Examples of “coverup” materials that are inexpensive and easy to work with are tile, manufactured stone, granite, marble or wood.  Sometimes even painting over old, ugly brick will make a huge improvement. 

Thank you for visiting InfoTube.net.  We love before and after pictures that we can share with our readers.  If you have completed a project and want a pat on the back, email photo’s to tommi@infotube.net

The large number of foreclosed homes have become a blight on the residential landscape.   But, swimming pools in abandoned, foreclosed homes, with no electricity, pose special problems.   Swimming pools become stagnate and unsantitary due to a lack of chemicals, then quickly grow thick with algae that is unsightly, and expensive to get rid of.

Enter the pleco algae eating fish, which are commonly found and abundant in fresh water lakes.   Only 15 pleco fish, placed in an abandoned pool, quickly eat away the algae and keep it away.

The environmentally smart solution leaves pools more sanitary, makes the homes more attractive to prospective home buyer’s and saves thousands of dollars in upkeep.   After the new owner moves in, they can return the fish to the lake or leave them in the pool for backyard fishing fun.

Thank you for visiting InfoTube.net homes for sale and rent complimentary website.  Search for some great deals or post your property for more exposure.  It’s FREE!!

File this under you have to be kidding me or better yet, Shame on You.  Thanks to awfulmarketing.com for this post

Pat Hill, a 72-year-old real estate agent and grandmother from Alexandria, Virginia, has held season tickets to the Washington Redskins’ games since the 1960s. With the recent downturn in the real estate market she was forced to cancel her $5,300-a-year contract for two end zone seats.

Although she tried negotiating with the ticket office to waive the contract for a year or two, they were not willing to budge, and sued Hill for $66,364, the amount of the tickets each year until 2017, plus legal fees and court costs. Hill did not contest the suit, and a judgment was filed against her.

More information, including a list of NFL teams that make a practice NOT to sue their fans, is available in this Washington Post article.

What do you think - shouldn’t the Skins have cut Hill a little slack or perhaps let her throw out the first pitch after 40 years of loyalty? Take a minute and Let them know:

Thank you for visiting InfoTube.net.  Post a Free Property Listing this weekend and reach more buyers.  Have a safe and happy Labor Free Weekend!

Cash for Refrigerators.  $300 million dollars of stimulus money has been set aside for consumer’s who purchase new, energy saving appliances.   Rebates of $50.00-$200.00 will be available in October on purchases of refrigerators, dishwashers, washing machines and air conditioners.

Program Eligibility:

1. To qualify, the consumer must purchase appliances with an Energy Star designation.
2. You don’t have to “trash” your old appliance to qualify.
3. States must apply to the program before October 15, 2009

Pro’s:

1. Upgrading to an Energy Star rated appliance saves a family $50-$150 per year in utility costs.
2. Rebates will ease the transition into new efficient appliances and help some consumers avoid going into debt in order to upgrade.
3. Could provide a boost to the beleaguered appliance and home improvement industries who are suffering in the bad economy.
4. Helps the environment.

Con’s:

1. No plan for the Trashed Appliances.  Currently there is no plan for proper disposal for the trashed appliances.  Old appliances can be donated or resold, which will not help the environment.
2. If we can’t find a way to recycle old appliances, the program will add more trash to the planet.

Tips for Consumers:

1. Most retailers will haul away your old appliances, when you purchase a new one.   Ask the retailer what happens to the old one, after they pick it up.   Buy only from retailers who can prove that they recycle or destroy the old appliances.
2. Use a Good Recycler to Take the Appliance Away.  Good recyclers will capture all coolants in the units which cause serious harm to the environment.  In addition, they will recycle all the metal and foam contained in the old unit.
3. GE and KitchenAid are offering additional manufacturer rebates on Energy Star Rated appliances now.  Click on the company name for details.

Thank you for visiting InfoTube.net.  We hope that Cash for Refrigerators is as successful as Cash for Clunkers.  If you have been waiting to update your appliances, October will be an excellent time.

Green News Alert:  A new paint additive, Insuladd, developed by the government, cuts energy costs and reduces mold and mildew.

Insuladd insulating paint additive increases the “Mean Radiant Temperature” of any home or office and provides energy savings by reflecting and dissipating heat.   Reports show an average decrease in utility bills of 20 percent (and, as high as 40 percent for in some homes) after a home or building has been painted with the additive.  

Product Features:

• Increase the R value by making paint insulating.
• It is safe and non-toxic
• It can be applied to roofs, walls and ceilings.  Interior or exterior.
• It works in hot or cold climates.
• Reduced heating and cooling costs, while increasing comfort.
• It prevents mold and mildew by blocking moisture and condensation.
• It can be added to any house paint.
• Can be used for all residential or commercial paint applications

Tips for Using the Product:

• Add the mixture to your paint, then stir throughly before applying.
• If you want a satin or gloss finish, add Insuladd to the primer coat and first coat.  Apply a finish coat without the additive.
• If you want a high gloss coat on trim, don’t use the additive.
• Insuladd will leave a very slight texture to the walls that can be felt, but usually isn’t visable.  It may hide cosmetic defects such as gouges, dents and surface imperfections if 2 coats are applied.
• Insuladd is ideal for light colored paints and you will notice no change in the color of your paint.
• If you are using a dark paint, Insuladd may lighten the color by up to one shade.   If this is a problem, tint the paint one shade darker at purchase.
• Don’t pour the mixture into a one gallon paint can to avoid overflow.  The additive will overfill a full gallon of paint.  Pour the paint into a 5 gallon can, add additive and mix.  Left over paint with additive can be stored in the original container for touch ups.

Paint, insulate, save money on energy bills, increase the comfort of your living space, prevent mold and mildew.  What’s not to love.

Thank you for visiting InfoTube.net.  We have been helping home sellers since 1988 and we can help you too.  Check out all the freebies on our site.

I have been watching HGTV’s “Real Estate Intervention” for a few weeks now.  As a real estate professional for the last 25 years, I give this program a Big 2 Thumbs up!!  If you are buying or selling real estate, this program is a must see.   Check it out on Thursday nights at 10:30E/9:30C on HGTV. 

The HGTV Synoposis of the Show is:   In this current real estate market, pricing is everything. And the best way to really find out how much your house is worth is to check out the competition. Real Estate Intervention takes motivated sellers on a tour of other listings in the same area and same price range. They’ll get to see firsthand who their competition is and whether they’ve priced their house right. Does the competition have better closets? Granite counters? A bigger backyard? Which home is the best value for the dollar? We’ll help them determine the best way to get top dollar — and in the end we’ll see which home sells first!

Bonus:  Do you want to be on TV???  If you are confused about how to price or market your home and want objective advise, can contact HGTV and be on the show.  Click this link to contact HGTV. and tell them InfoTube.net sent you.

Thank you for visiting InfoTube.net.  We are here to help you buy and sell real estate.   If you like what we do and you want to receive updates about our short, informative articles, click on the RSS feed on the right hand side of the page.

We are starting a Darwin-like award for the building and contracting industry.  Here are the nominee’s for Worst Contractor of 2009, so far.  If you have an entry, please email your picture to the address shown below.  Believe me, we need all the chuckles we can get!!

Entry #1:

Look honey, the two car garage you’ve always wanted.

No, we’re not kidding and someone even hung drapes.  Ugh, I’m getting seasick just looking at it.

Can anyone say surveillance contractor for the government?   Hey, we’ve spotted a spider web in zone 5.

Do you want a printed receipt?  Click Yes or No.

Unless you can top this, we may have the Winner of the Bad Contractor Award for 2009.  But, we are still accepting entries until December 31st. 

Thank you for visiting InfoTube.net homes for sale and rent FREE WEBSITE.  If you have an entry for our Bad Contractor Award for 2009, please email your pictures to tommi@infotube.net.  We find that in a bad economy, laughter helps.

This seller certainly knows that complete disclosure about any property problems is essential in the purchase or sale of real estate.  

Happy Monday and thank you for visiting InfoTube.net homes for sale or rent website.  Good luck on your sale…whatever the reason for your move (:

A delight for commuters and motorcycle enthusiasts alike, The Zero is a new electric motorcycle with sharp style and enough speed to embarrass other bikers at stop lights. 

Made in California, the Zero is fast, agile and a joy to ride.   “People have waited decades for these things to be practical”, said Neal Saiki, inventor and founder.  “We make every part of the bike”, said Saiki, “It’s very light and half the weight of a normal motorcycle.”  In addition to being pollution-free, the street and dirt versions of the bike are silent when running. 

One limitation for consumers may be the bike’s range and price.  It runs between 40 and 60 miles, before it needs to be re-charged.  And, the price is a bit steep at $13,500, which is about double the cost of a gas powered equivalent.

Thank you for visiting InfoTube.net homes for sale or rent website.  Seller’s can post property information on InfoTube.net for FREE.  Buyers can search the database for thousands of properties often seen no where else on the web.