47 pending homes and land on Camano Island as of today!  Wow!  Tax credit expires Nov. 30th, so your offers must be made now to make the deadline.  USDA loans seem to be behind about 60 days, but FHA loans can be done in time!  Call me for more info!

http://www.federalhousingtaxcredit.com/2009/index.html

http://frame.windermere.com/index.cfm?fuseaction=listing.listingDetail&listingid=66078984

Good news if you are a buyer or seller on Camano Island….stats are looking up!  We currently have 23 pending homes, compared to 15 last year at this time.  Inventory is down, so if you are a seller, less competition for you.

It’s still all about price.  Be the best price and the best value.  And hire a good realtor who will work 110% for you.  I can think of a good one you can call (me of course!)!

Interest rates are still great, and banks are starting to let the lending flow.  Prices are down.  Come end of summer, inventory will start to drop.  If you are buyer, you want as much to choose from as possible.  So don’t wait….now is the time!

Click this link to see:

http://frame.windermere.com/index.cfm?fuseaction=listing.listingDetail&listingid=35542454

If you are a first time home buyer, or have not lived in a primary residence for 3 years, you are eligible for the 2009 REFUNDABLE tax credit of up to $8,000 (or up to 10% of purchase price).   If your total refund from the IRS is less than $8,000, they will refund you the remainder amount up to $8K!  There are some stipulations for your income level, however.

To get the credit, the home must be your primary residence.  No investment property! 

For more information please visit these sites:  http://www.sccar.com/UserFiles/File/tax-credit-details.pdf and http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home?lid=ronav0019

Facts and figures for this post were derived from http://www.sccar.com/UserFiles/File/tax-credit-details.pdf  author Ken Trepeta

In January, 2009, 7  homes sold on Camano Island. In February, 2009, 5 homes sold on Camano Island.  However……

Right now there are 25 pending residential homes on Camano Island.  Price range of 200K-249K is the hottest price range with 6 currently pending.

What does this say about our market?

There is NO fluff in our market.  Price your home right, and you will sell.  Do your homework (or have your awesome real estate agent do it for you….me:), and price your home right from the beginning.

If you are a buyer,especially a first time homebuyer, options are not going to get much better that this!  Loan rates are great, homes are priced right, and deals are being made. 

If you are a seller, it’s a good time to trade up!  If you are a buyer…well…you know.  It’s a GREAT time to buy!

Did you know Camano Island is getting a new bridge?  We are!  Work starts this summer.  The plan is to keep the current bridge open while the new 56 ft. wide bridge is built.  The new bridge will still have two lanes, but will allow pedestrians, bicyclists, and emergency crews to get through traffic. 

More info on this topic, click

http://www.heraldnet.com/article/20090131/NEWS01/701319919

Wow.  On a Thursday.  There is hope!  I am the “Thursday” girl at the office…one of the days I am usually scheduled at the office.  It was nice to have buyers walk through the doors!  On a THURSDAY!  Woo Hoo, things ARE picking up!

I make up really nice folders with market information, a map, and my listings to hand out to clients that walk in our doors.  I was so excited to run back to my desk and gather one for a walk in!  First time homebuyers, from Seattle, who have fallen in love with Camano. 

After telling me what they are looking for, I think off the top of my head I found the perfect house for them.  Granted, I’m still waiting for them to call to go see it, I was so excited I knew my stuff !  I am rejoicing knowing that there is hope for our market.  I have been busy with real estate from early morning to late at night the past few weeks. 

So if you are a buyer, it’s time to act.  I don’t think the “best time to buy” will last long.