I wanted to be the first to let you know the good news!   Congress late last night extended the Home Buyer Tax Credit deadline.

The extension is only for those buyers who signed a purchase contract by April 30 and need extra time to close their deals.   The deadline to close was Wednesday and the extension will push that deadline to Sept. 30.

The estimated extra time will assist some 180,000 people nationally.

The National Realtors Association estimates that a total of 4.4 million people have received the credit since it was made nonrefundable last year.

That includes 2.9 million first-time buyers and 1.5 million repeat buyers.

I hope you enjoy the 4^th of July Holiday as you reflect on how blessed we truly are:   America, truly what a wonderful place to live!

   -Sara  

 Sara Christon

Select Real Estate Services LLC

N75W27095 Oakwood Road

Hartland, WI 53029

262-370-4148

www.selectrealestateonline.com

email: sara@selectrealestateonline.com

Daily Real Estate News | February 18, 2009 |

5 Tips for Homebuyers Seeking a Mortgage
Here's a warning for potential borrowers: Nervous lenders have tough new rules and are paperwork crazy.

"Borrowers are going to have to prove they are the borrower they say they are," says Keith Gumbinger, vice president of HSH Associates, a mortgage-industry publisher in Pompton Plains, N.J.

Gumbinger says homebuyers should consider these things before they apply for a loan.

1. Down payments are critical. Borrowers should expect to put down at least 10 percent for a "conforming loan" – a mortgage that Fannie Mae and Freddie Mac will purchase.

2. Credit scores count. A 720 on the 850-point FICO rating scale will get a borrower access to the best rates. Rich Bira, branch manager of FCM Direct Lender in Chicago, says: "A score between 720 and 739 gets 0.125 percent added to the rate, a score between 700 and 719 gets 0.375 percent added to the rate, and a score between 680 and 699 gets 0.5 percent added to the rate."

3. Consider VA and FHA. Borrowers without down payments or with less than stellar credit scores should consider these government-insured loans offered through the Federal Housing Administration of the Veterans Administration.

4. Unearth the records. Before applying, borrowers should organize tax, banking and other records that prove income, savings and debts. They should also expect to be patient about what may seem to be endless requests for information.

5. Get rid of debts. Limiting debts, including what borrowers expect to pay for the mortgage, to less than 43 percent of gross income is important.

Source: Chicago Tribune, Mary Umberger (02/15/09)

Daily Real Estate News | January 28, 2009 | Share

I hope you have an enjoyable Memorial day and celebrate the day with friends and family. However, we all must remember that it is a day to not only celebrate but, to remember those who are now serving and those that have served to protect our country and freedom.

In these time of conflict, we also need to remember those that have give the ultimate sacrifice. Our country presents a flag to each veteran's family at the time of their death. This is a moving and time honored tradition with deep meaning. Below is a wonderful piece that helps remind us about these valiant men and women.

To understand what the flag draped coffin really means...... Here is how to understand the flag that lay upon it and is surrendered to so many widows and widowers.

Do you know that at military funerals, the 21-gun salute stands for the sum of the numbers in the year 1776?

Have you ever noticed that the honor guard pays meticulous attention to correctly folding the United States of America Flag 13 times? You probably thought it was to symbolize the original 13 colonies, but we learn something new every day!

The 1st fold of the flag is a symbol of life .
The 2nd fold is a symbol of the belief in eternal life
The 3rd fold is made in honor and remembrance of the veterans departing the ranks who gave a portion of their lives for the defense of the country to attain peace throughout the world.
The 4th fold represents the weaker nature, for as American citizens trusting in God, it is to Him we turn in times of peace as well as in time of war for His divine guidance.
The 5th fold is a tribute to the country, for in the words of Stephen Decatur, "Our Country, in dealing with other countries, may she always be right; but it is still our country, right or wrong."
The 6th fold is for where people's hearts lie. It is with their heart that they pledge allegiance to the flag of the United States Of America, and the Republic for which it stands, one Nation under God, indivisible, with Liberty and Justice for all.
The 7th fold is a tribute to its Armed Forces , for it is the Armed Forces that protect the country and the flag against all enemies, whether found within or without the boundaries of the republic.
The 8th fold is a tribute to the one who entered into the valley of the shadow of death, that we might see the light of day.
The 9th fold is a tribute to womanhood, and Mothers, for it has been through their faith, their love, loyalty and devotion that the character of the men and women who have made this country great has been molded.
The 10th fold is a tribute to the father, for he, too, has given his sons and daughters for the defense of their country since they were first born.
The 11th fold represents the lower portion of the seal of King David and King Solomon and glorifies, in the Hebrew's eyes, the God of Abraham, Isaac and Jacob.
The 12th fold represents an emblem of eternity and glorifies, in the Christian's eyes, God the Father, the Son and Holy Spirit.
The 13th fold, or when the flag is completely folded, the stars are uppermost reminding us of the nation's motto, "In God We Trust."
After the flag is completely folded and tucked in, it takes on the appearance of a cocked hat, ever reminding us of the soldiers who served under General George Washington , and the Sailors and Marines who served under Captain John Paul Jones, who were followed by their comrades and shipmates in the Armed Forces of the United States, preserving for them the rights, privileges and freedoms they enjoy today .

There are some traditions and ways of doing things that have deep meaning. In the future, you'll see flags folded and now you will know why.

Share this with the children you love and all others who love what is referred to, the symbol of " Liberty and Freedom."

Enjoy and Celebrate all Memorial Day means!