What Does Toni Have To Say?

You keep hearing about the first time home buyer's tax credit and want to take advantage of it, but can you USE the $8000 to actually BUY the house.  Well, NO. The problem is with 99.9% of the loan programs out there today, you need to have a down payment AND pay closing costs.

So, how much money do you need?  Well FHA is the most popular loan for people who haven't saved up a lot of money and the down payment is 3.5% of the price you are paying for the house.  So, if the house costs $100,000, you have to have $3500 as a down payment.  If the house costs $80,000 you have to have $2800. If the house costs $145,000 (like the house at the right) the down payment would be $5075 - you get the point.

In addition to the down payment, you will need to pay your closing costs and prepaid items.  What is that you say???  Well, closing costs are fees that are paid to the lender to make the loan (all those people who work on your loan have to be paid so there is a processing fee, an underwriting fee, a tax service fee, etc). Also, you will need things like a title policy to make sure the person who is selling the house actually owns it, and the termite report to make sure the house has no termites and the closing attorney who closes the house needs to be paid.

Prepaid items are things paid in advance like your homeowner's insurance.  Just like you buy car insurance in case something happens to your car, you buy homeowners insurance in case something happens to your house.  This fee is paid a year in advance, so you pay a One Year premium at closing.

So, that seems like a lot, but don't worry. Your realtor will make sure it ALL happens before you get to the closing - you just have to pay for it. 

Many times the seller will pay some of the closing costs for you - if they like the price you are paying for the house. But you still have to come up with the down payment (3.5% of the purchase price).

It can be a challenge to save up money to buy a home but if you have some money in the bank, now would be a great time to talk to lender to see if you can qualify to buy a house. The first time home buyer tax credit is set to expire on November 30, 2009, so you have to find the home and close within 60 days.  With a good lender and a good realtor, this is definitely possible  - but don't wait.

You can search for homes for sale in Hoover Alabama and the Greater Birmingham area by going to the MLS Search section of my website.  Click here for ALL the homes available in the area.  See something you like, let me know and we'll go take a look!

Are you thinking about Buying a Home and want to get the best mortgage payment? Want to make sure you are getting the best interest rate on your mortgage?  Well finding the best rate is not always finding the best deal.

Whenever you make a big purchase, it's always a good idea to shop around. There are hundreds of financial institutions wanting to give you a mortgage. If we hear about the Fed dropping the rate and the Fed Rate seems to be controlled by this one person (or government committee) then why can one mortgage company have a rate of 6.0 and another have a rate of 6.5?  Well, everyone is out to make money (there is nothing wrong with making a reasonable profit) but what sounds like the best deal isn't always the best deal.

There are two things you need to look at when shopping for a mortgage: rate and fees (fees typically run 3-5% of the loan amount but some can be really high).  If you are looking at 2 companies and one is offering a rate of 6.0% and the other company is offering a rate of 6.5%, then the first company is probably charging you more fees than the company offering 6.5% rate. 

Fees equate to cash out of your pocket at closing.  A higher rate means you pay a higher monthly payment.  So, you are either going to pay the money today, or over the life of the loan.

So with all these fees and rates it is hard to compare apples to apples.  That is where the APR comes in.  The APR takes into account the amount you are paying in fees along with the rate.  The lower the APR the better the overall deal.  So if you are calling around or checking out rates on the internet - look for the APR.

If you would like any information about buying a house in the Hoover, or Greater Birmingham Alabama area, please contact me at http://www.tonibird.com/.

Getting Ready to Move?

So you've got a contract on your house - now the fun begins.  You know you've got to pack but don't forget to let everyone know your new address. 

Here is a list of those to notify:

Provide the post office with your forwarding address two to four weeks ahead of the move.

Notify your credit card companies, magazine subscriptions, and bank of your change of address.

Create a list of friends, relatives, and business colleagues who need to be notified about your move.

Notify your children's school about your move (some school districts will require a change in school if your address changes).

Arrange to disconnect utilities and have them connected at your new home.

Cancel the newspaper, or change the address so it will arrive at your new home.

Cancel insurance coverage on the old residence.  Insurance on the new property is usually handled by the closing attorney so you HAVE insurance on the New home, but sometimes people forget to cancel insurance on the old home.  Most insurance is paid ahead for one year so you are entitled to a refund. You will want to check to see which insurance covers items DURING the move. Usually movers only cover what they pack.

Good Luck with your move.

If you would like any help finding a new home in Hoover, Alabama or the Greater Birmingham Area, just let me know. Search the internet from my website http://www.tonibird.com/search.asp?

It is very easy to qualify for the tax credit.  Anyone who has NOT owned a home in the last 3 years can qualify for the tax credit.  When you want to buy a home, you must qualify for a loan (unless of course you are paying cash) but if you can qualify to buy a home, the tax credit is YOURS.  Do nothing NOW; in January when you file your 2009 tax return, you get the form for the credit and attach it to your return. 

The tax credit is equal to 10% of the price you pay for the house, up to $8000.  They call it the $8,000 tax credit because most of the homes in our city are over 80,000. If you pay only $60,000, your credit will be $6,000. This first townhome is on sale for $79,900.  Click here for more info on this home.  Your tax credit for this one would only be $7,990.

Here is another great home for sale.  This one is a house with a nice fenced backyard that is on the market for $109,900.  Click here for more info on this great property.  Since there is a cap of $8,000 on the credit, then 8K is all you would get.

Remember, this is actually a tax CREDIT.  So if you owe 8,000 in taxes, you will pay -0-.  If you only owe $4000, then you will get $4000 back.  It's that simple.

Both of these are good choices and there are many, many more. This is a great time to buy a home. What could you do with an extra 8K next year???

There are a lot of tax credits floating around out there these days.  One is the tax credit for 1st time home buyers.  What happens is this - if you buy a home for the first time, you get a tax credit equal to 10% of the amount you paid for the home.

So, next January when you go to file your taxes, if you bought a $60,000 house, you can subtract $6000 from your tax bill.  If you buy a $100.000 house, you get to subtract $8,000 because $8000 is the most they will give you back.

If you had taxes deducted from your paycheck, you can get a refund of what you paid in UP TO $6000 or $8000 in our example above.  What if you didn't have to pay that much?  Great news, you get a CREDIT of the whole $6000/$8000.  THIS IS A HUGE DEAL.

The tax credit will run out ON DEC 1st, so it's time to get started looking if you want to take advantage of the tax credit.  If you have questions, call me.  If you have good credit and some money in the bank, we can get you into a house before the tax creit runs out.

Here is a house that one of my clients bought a few years ago as HER first house.  It was perfect for her.  She even made some improvements like adding hardwood floors and redoing the kithen.  Click here to see what the house looks like on the inside.  Can you see yourself living there?  AND can you see yourself getting an $8000 check from the IRS AND living here?

It has a small backyard, and very little exterior maintennce, so you won't have to spend your weekends mowing at your 1st House. Sounds really good, doesn't it.

I was showing houses to a client the other day.  This is a buyer's market as we have heard so there are literally hundreds of homes for sale in her price range. Based on most of her specific requested items and through the use of the internet (pictures really help weed out the undesirable) we basically narrowed it down to 30 homes.  Over a period of three trips we ventured out to personally view the top picks.

She had a couple of subdivision that she had friends living in already so we really wanted to explore those neighborhoods.  Some of these were typical tract home developments.  In these, many of the homes can look the same.  So, what makes one home look better than the other?  If you are the seller, what do you do to make YOUR home stand out?

Decorating of course is important and we have seen many instances where a nicely decorated home will sell it.  She is also very interested in the yard.  One home she is interested in has a patio and fountain in the back yard.  It is absolutely beautiful - she referred to it as the Sanctuary.

Another item that she commented on over and over again was the use - or lack thereof of molding.  Some homes had crown at the ceiling, but dinky molding along the floor. Crown molding and wider baseboards give the home a more finished look.  Often times in tract homes, the builders will use small baseboards, no crown at the ceiling and no molding around the windows.  I had a client a couple of years ago that was totally focused on crown molding.  She bought a house without it, and had a contractor install molding and new hardwood floors before she would move in.

If you are trying to sell your home in a buyer's market and want your home to have a little edge on the others in the neighborhood, try installing some additional molding - especially in the living room and master bedroom. It will give YOUR home a little better appeal and could be what makes the sale.

If you would like some other tips about getting YOUR home ready to sell, check out the seller library at my website www.Tonibird.com. 

Boy, has it gotten busy lately or is it my imagination!  I listed a home for sale in Helena, Alabama 3 weeks ago and we already received an offer.  The seller had fixed it up and it looked GREAT.  The person who is buying the home as never owned a home before and can take advantage of the First Time Home Buyer's Tax Credit.

If you are a first time home buyer (and a 1^st time home buyer is defined as someone who hasn't owned a home in the last 3 years), then you can qualify for an $8,000 TAX CREDIT on your 2009 taxes.  A tax credit which is good for homes purchased through December 1^st 2009, is better than a deduction because it is subtracted directly from the amount of tax you owe. If you don't owe $8000, you get cash back!! Just buy a house and you can get a credit for 10% of the home's purchase price (up to $8000).

There is nothing that you have to apply for ahead of time.  The credit will be claimed when you file your income tax return. Click Here to see a copy of the form that you file with your taxes.  If you owe less than 8,000 in taxes, you will get CASH BACK to use on whatever you want.  Check out the form for instructions and information about income limits and what to do if you sell the house before 3 years is up.

You keep hearing Now is the Time to Buy, well Now is the Time to Buy.

I told you about the house with the offer on it - well there is another one right down the street waiting for YOU.  This home has 2 Bedrooms, 2.5 Baths and a nice updated Kitchen. The owners have loved this house and NOW it is your turn. Take A Look at the Visual Tour.

If you haven't already done so, now is the time to contact a lender and get pre-approved for a loan.  Click here to shop for houses on line at my website www.ToniBird.com, When you are ready, contact me and I'll set up appointments for you to see your top picks. 

Do you like pink? 

I lot of people - mostly girls, like pink.  Easter is right around the corner and those little pink Easter dresses are pretty, and what would the Easter Bunny do without his pink ears and nose.  Many flowers are pink. I saw lots of pink tulips last week and the azaleas are just beginning to peek out. In a few weeks, we will see pink everywhere. In fact, the world would definitely be missing something if we didn't have pink.

I showed a house the other day.  It was a great price for the neighborhood and was a foreclosure.  The house was a 4 Bedroom, gray brick, one level on a nice flat lot. When we walked up to the front door, my client pointed out that the mortar was a dark PINK.  I had NEVER seen pink mortar before.  When we got inside, the walls were a pale (almost white) pink - but paint is an easy thing to change.  We stepped into the kitchen and WOW there was a pink and purple border, a pink and purple faux finished accent wall, pink corian counter tops and a very light pink ceramic tile on the floor.  We didn't go any farther.  The price may have been good, but too much work!!  There is a hefty price tag associated with changing out all the counter tops and flooring in THIS house. Now, thinking back, I wished I had checked out the bathroom....

I was in a DIFFERENT house and it DID have a PINK cultured marble jetted tub and pink vanities.  The house has been reduced over 50K just to compensate for the pink in the bathroom and is a STEAL.  Someone just needs to really like pink, or deal with ripping out the tub and vanity tops.  That CAN be done,  but most people don't want to do the work.  If YOU would like to tackle this depinking project, let me know 'cause this house is a bargin!!

The moral of the story is this....If you like pink - that is great.  You can even decorate your house with pink paint, accessories, rugs and even furniture.  But DON'T use PINK for anything that would be expensive or difficult to replace - it could cost you THOUSANDS.

If you are thinking about selling your home in Hoover Alabama or the greater Birmingham Area, I can help.  Give me a call and we'll get started. 

March is one my favorite months in Hoover Alabama, Every day is a new experience.  Two weeks ago we had snow and now the buds are coming out on the trees.  Driving down Shades Crest Road the Red Buds and Forsythia, which bud out in flowers before leaves are EVERYWHERE.

They are called Red Buds and some of the plants have a red colored flower, but most of them are Purple.  They are tall trees with thin twisted branches and can grow in the shade of other trees.

The Forsythia are bushes and if not trimmed back, have a wild free flowing look.  They are yellow or white and look great in the spring.  They make a nice hedge row along a fence or a beautiful focal point plant. The young ones have only a few wirery branches and mature plants can be ten feet tall.  Once the blooms are gone green leaves take their place.  I moved into a house once and before I knew what it was, trimmed it back into a nice round bush - it ruined the plant and never looked right.

Another flowering tree with white buds in full bloom is the Bradford Pear. About ten years ago these were the tree of choice when putting a tree in the front yard in a new subdivision.  They also line boulevards in many parts of town.

These three trees is a sure sign that spring is here.  Take a drive down Shades Crest Rd, and South Shades Road and you'll see lots of these flowering trees and bushes.

Hoover Alabama is a wonderful place to live.  In spring the hillsides are alive with color.  If you would like to Buy A Home in Hoover, Alabama, or the greater Birmingham area, let me help.  You can reach me at my website www.ToniBird.com.

I received an on-line newsletter the other day from one of our lenders here in town. This one contained a quote from Jim Rohn that stuck with me.

"A good objective of leadership is to help those who are doing poorly do well and to help those who are dong well to do better".

Have you ever worked for a company that was sincerely interested in the quality of life of its employees - as opposed to how much money those employees could make for the company?  I could go on for DAYS about what has happened in this country with regard to greed and corruption.........and how its all about the stockholder and ROE.

What we need now is a leader who can step back, look at the big picture and make choices that are right for the most people.  A lot of times we are surrounded by very vocal people and they can influence our thoughts and actions.  Right now we are consumed by negative press and how BAD things are.  Every once in a while you hear a lone voice talking about what is RIGHT with America.

We as individuals need to consider what is right for ourselves and our families, but we also need to look at the big picture.  When President Obama made his speech before the houses a few weeks ago, there was a bank official who cashed in his bonus and gave it to the bank employees - including the ones who were laid off.  Here is someone who understood that he didn't get to where HE was without the work of others.  So, if your company has laid off employees this year - what are YOU doing with YOUR bonus check-because if those people were still employed, your profits would probably be non-existent and there would be no bonus. Something to think about.

When I think about those people who are effective leaders, they are people who can see the future and make a road map to help us get there. They have the ability and desire to empower others and appreciate them for their efforts. They are interested in the process and what it does for people along the way. Then they can make tough decisions with care and understanding - even when those decisions are not popular.  With leaders like that, we all prosper.

Who are the leaders that you know?