I’m excited to announce a new listing I took on my Birthday, December 9th!!! This home is a cute one, in walking distance to Westwood Middle School. It is a Bi/Level with 3 bedrooms and 2 full bathrooms. The entry has lovely tile and the large living area seems even more spacious because of the Cathedral Ceilings and tasteful use of colors. The kitchen has plenty of room, a snackbar and the dining area has sliders to a nice deck, perfect for summer entertaining. The backyard is fenced with a storage shed so it would be ideal if you have any dogs.

The lower level is a walkout and has just been professionally remodeled to add family/den areas and a full bath. Laminate wood flooring has been put down and a dramatic addition in the form of a stone fireplace has been added in the family/rec area. The den area is plumbed for a wet bar or can be easily converted into a 4th bedroom. There is ample storage in the basement as well as the laundry room.

This new listing in Grand Rapids Schools is located on a cul-de-sac in a safe, quiet neghborhood. Eligible first time home buyers may qualify for the $7500 tax credit. It is also close to the major highways so commuting is easy, PLUS, it is a short hop to downtown Grand Rapids. if you are a student or working downtown, this may be a good purchase or investment opportunity. It is very easy to show, email or call me direct at 616-570-1871.

For more information or to search for homes online, visit my website at GRRealEstateInfo.com.

UPDATE: The 2009 Stimulus package includes an updated version of the First Time Home Buyer Credit. CLICK HERE for more information.

$7500 Tax Credit for First Time Home Buyers

The Feds have passed a new law enabling first time home buyers to benefit from a $7500 tax credit when they purchase a home. (The Housing and Economic Recovery Act of 2008 – HR3221). This is an excellent incentive to encourage some movement into the housing market. With interest rates low and large inventories of homes, there are some fantastic opportunities out there.

• The tax credit is available for first-time home buyers only
• The maximum credit amount is $7,500
• The credit is available for homes purchased on or after April 9, 2008 and before
  July 1, 2009
• Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit
• The tax credit works like an interest-free loan and must be repaid over a 15-year period

This has the potential of positively affecting the whole Grand Rapids market. As these 1st time buyers move in, the previous owners will move up. This is a smart move by the government in an attempt to stabilize the economy by bringing down some of the housing inventory levels. Property values have dropped dramatically in the last couple of years. And now with sellers getting very competitive by lowering their asking price, fixing up the house, offering Home Warranties… it is a good time to take advantage of this tax credit.

Here is a good FAQ from the National Association of Realtors.

UPDATE 2/11/2009: $15,000 Home Buyers Tax Credit