Buyers Who Wait May Lose A Lot

Potential home buyers who delay have a lot to lose. First-time home buyer and move-up tax credits worth $8,000 and $6,500, respectively, expire April 30. Buyers who qualify get a dollar-for-dollar reduction in taxes or a cash payment if they don’t pay enough taxes to cover the credit. Other factors that should spur buyers: Low mortgage rates. If the Federal Reserve stops buying mortgage-backed securities at the end of March, 30-year rates will almost certainly rise to more than 6 percent. Rising prices. About 30 percent of markets are already experiencing price increases. Prices are falling in 12 percent of markets, says Fiserv (but that only helps if you want to live there). -Money Magazine (03/02/2010)

Talk Before You Walk – Free Foreclosure Prevention Workshops

The Sussex County Delaware Association of Realtors (SCAOR) and the National Association of Realtors (NAR) are co-hosting two free workshops this month (March 2010) in Seaford and Georgetown Delaware for homeowners who are at risk for foreclosure.

Get help before you walk away from your house or give your property back to the bank.   There are other options for Sussex County residents but you must take action before your property goes to sheriff’s sale.  If you are behind in payments or struggling to pay high mortgage bills on a property or know someone who is going thru this, bring them along.

All members of the public are invited to attend and light refreshments will be served.

Saturday March 6th 2010 Workshop to be held at the NEW Seaford Public Library (in Ross Business Park) from 2 to 4 pm.

Saturday March 13, 2010 Workshop to be held at Sussex County Association of Realtors (SCAOR) headquarters at the corner of Route 9 and Park Avenue (if you are going toward Georgetown from Lewes – it will be on your left and before you get to downtown Georgetown).