Bernardi Buzz

Your Rich Uncle Sam Wants to Give You Money!!

Take advantage of the homebuyer tax credit – not for just first time buyers

Time is running short for people to take advantage of the homebuyer tax credits.    There are two different credits – one for first time homebuyers that can be as much as $8000 and the other for other buyers that can be up to $6500.    These are TAX CREDITS not just deductions – you can reduce your tax bill by the credit amount.

To take advantage o the credits, you must have your new home under contract by April 30, 2010 and close by June 30, 2010.   There are some income limits for each credit (for first time buyers, the income limit for couples is $150,000 and for other buyers the couples limit is $225,000) and home price limits for move up buyers ($800,000) but not for first time buyers.

If you are thinking of buying this spring, start the process now – it can take some time to find the right home, negotiate a price and get your financing lined up.   We can help you find just the right home!!   We can also help you sell your current home if you might need to sell to buy.

Contact us today for more information!  Email: info@bernardirealestate.com  / Phone: 303-402-6000 / Website:  www.bernardirealestate.com

Karen Bernardi of The Bernardi Real Estate Group Named Vice Chairman for Intercambio de Comunidades.

Karen Bernardi has been unanimously voted by the Intercambio de Comunidades board members to be Vice Chair of the organization.  Intercambio de Comunidades is an independent, non-profit organization founded in 2001 that works to build respectful communities and broaden opportunities for immigrants through language education, cultural exchange and friendship.

“The vice chair is selected by the board and typically serves two years as vice chair and then two years as the board chair.” Says Lee Shanis,   Executive Director of Intercambio de Comunidades, “Karen was selected to vice chair because she has been extremely dedicated to the organization and has worked incredibly hard to introduce new people to the organization and help with the organization’s development and expansion.”  Lee adds that Karen “brings a great energy and humor to meetings, is very reliable and friendly.  She embodies the Intercambio values of learning, respect, community and fun.  Karen has exceeded all of our expectations by being an amazing board member, and she was unanimously voted to be vice chair.  Karen has helped put on several events; she helps with the Fiesta committee and serves on the finance committee.  We need more Karen Bernardi’s in the world!”

The Bernardi Real Estate Group has been assisting buyers and sellers of residential real estate in Boulder County for over 26 years.  Since 2005, The Bernardi Real Estate Group has been recognized every year by Coldwell Banker as the #1 team in Colorado.  For more information visit www.bernardirealestate.com

#1     Home Buyer Tax Credit!

The home buyer tax credit has been extended until April 30th, 2010, & expanded to include home owners as well as first time home buyers. First time home buyers can receive up to $8,000 tax credit and folks who already own can receive up to $6,500 if you buy before April 30th, 2010.

#2 Mortgage Rates Are Low, for a Limited Time!

With a decent credit score (620 or higher) and a steady job, you can get an FHA home loan with as little as 3.5% of the purchase price as a down payment. That down payment can be a gift from a non-profit or a relative. Rates can be as low as 5% fixed for 30 years for qualified buyers. The Federal Government has already announced that they will discontinue purchasing mortgage-backed securities, therefore we anticipate rates will rise.

#3   Boulder Property Prices at a 2 Year Low!

There are a lot of properties to choose from as the inventory is high and prices are very competitive.  Even if home prices continue to drop a little more in late 2010, it’s better to buy now while the loan rates are so attractive, and you can take advantage of the tax credits.

The Bernardi Group can help you decide if now might be the right time for you to buy a new home or condo, and we’ll help you get the best deal possible!

Call the Bernardi Real Estate Group for more information about the current housing market in Boulder County.

We look forward to working with you.

Sincerely,

Karen Bernardi

The Bernardi Real Estate Group
www.bernardirealestate.com
303-402-6000

The Boulder County Business Report quoted Karen Bernardi in a recent real estate article titled “Getting More for Your Money”. The report named Karen as a “veteran of Boulder real estate” because of her many years in the business of selling homes in Boulder.

Along with interviews from other realtors and local investors, Karen was quoted in the article saying
“You can always buy an awful home at a steal. But you can’t steal a good house – other people will want it. You might think you’re stealing something, but it might not be a good buy when you go to sell it.” She advises buyers to hire an experienced real estate broker to help them study the market. “It’s a huge investment,” she added.

Click here to see the full article.

Great news for Boulder County real estate and the nation… congress approved the extension & expansion of the homebuyer tax credit to further stimulate the housing market. The due date has been extended until April 30th, 2010 (originally scheduled to end Nov 30th 2009), and the tax credit requirements have been expanded to include current home owners as well as first time home buyers, and it now includes folks earning a higher income as well (up to $125,000 for singles and $225,000 for married couples compared to $75,000 and $150,000).

The tax credit amount can be up to $8,000 for first time home buyers and up to $6,500 for current home owners who decide to move. The amount is determined by the price of the house and by the purchaser’s income. The tax credit applies for homes purchased up to $800,000. There are plenty of Boulder homes for sale in this price range.

As a current home owner, you can qualify for the tax credit if you have lived in the house you now own for at least five consecutive years within the past eight years. Even if you’ve owned property in the past you may still qualify as a first time home buyer if you have not owned your primary residence for the past three years. Call The Bernardi Group to get an honest home evaluation to see what your Boulder County home could sell for today, and what else is available for you in and around Boulder.

The National Association of Realtors reports that since the enactment of the original First Time Home Buyer’s Tax Credit, over 40% of all sales activity so far this year can be attributed to the tax incentive. Now that the Tax Credit is extended to give more time, and expanded to include more people, the outlook is very hopeful that this will help stimulate the housing market in Boulder and the Nation significantly. Let’s just see how long these great interest rates will hold. Right now is the best time to buy, and if you need to sell it’s a good time to capture the increased number of buyers out there due to the tax incentives and low interest rates.

Contact us today if you or anyone you know needs real estate help….
Email: info@bernardirealestate.com / Phone: 303-402-6000 / Website: www.bernardirealestate.com

CU Boulder’s census figures released last week that the total number of enrollments a total of 1.6 percent over the last year’s highest record.   There 5,519 new freshman students entering this year, and of that number about 58% are Colorado residents and the other 42% are from out of state.  CU’s Chancellor, Phillip DeStephano, said that the increase in enrollments were not expected because of the economic situation in the country, and “Despite those factors, when we see the strong numbers of returning, transfer and new graduate students, it is clear that CU-Boulder is holding its value even in the toughest economic times.”  This will prove to be good for the rental market in Boulder, and the overall economy here.

Find great deals on college rental property investments at www.bernardirealestate.com or call us today 303-402-6000

Sincerely,

Karen Bernardi

According the Boulder County Business Report, Boulder and surrounding areas are racing out of the recession faster than the rest of the country on average.  The unemployment rate for Boulder County dropped from 6.6% to 6 % from July to August, and in Broomfield from 7.7% to 7.1%.  While the national unemployment rate across the US rose still a bit from 9.4% to 9.7%.

We’re thankful to be living here too, and we look forward to helping you with any real estate needs.  Visit www.bernardirealestate.com

Sincerely,

Karen Bernardi

Indicators show positive results that the economy and the overall real estate market in Boulder is finally picking up in 2009.  Usually there is a lull in movement in the market when school starts, so it’s normal to see that overall property sales in Boulder county have slowed in the past two months, however we see an 8.6% increase in the number of properties sold or under contract so far in September this year compared to September last year.    Over 70% of all the properties sold so far this month are in the price range under $500,000, about 23% in the $500,000 to $1 million, while only 6% of the properties sold were over $1 million.

During the months of July and August, condo sales in Boulder sped up quite a bit, statistics show that in August condos spent 50% less time on the market before selling, (sold twice as fast) compared to the months of June & July.   While the average time that residential homes take to sell in Boulder remained relatively the same through June, July, and August.

With help selling your property or finding a great deal on one, visit our website and contact us today…  www.bernardirealestate.com

Sincerely,

Karen Bernardi

If you live in or near the Boulder area, it should interest you that in a recent article published the 11^th of August, Business Week named Boulder the Strongest Housing Market in the U.S. today!  Other U.S. cities that experienced an exaggerated spike in housing prices in recent years are now suffering the consequences of the economic downturn and the housing market crash considerably harder than Boulder along with a few other metropolitan cities.

Out of all the now fortunate metro areas that did not partake in the housing bubble (many college towns on the list), Boulder ranks number one on the list of strong housing markets to date.  The University of Colorado at Boulder plays a huge part in keeping both the job market and the rental market steady in Boulder, and because Boulder is such a beautiful city many students never leave after they graduate.  Boulder homes have kept their values high relative to other real estate markets during the recession, and with limited growth and natural stunning open space surrounding it, Boulder is one of the safest places to invest in real estate in the entire country.

Click here to see the full article.

Contact us today, we can help you find a great investment in Boulder County……….. Phone: 303-402-6000

website: www.bernardirealestate.com

More news…

There’s never been a better time to buy a new home than right now, especially if you’re a first time home buyer.  The Recovery and Investment Act of 2009, is offering first time home buyers a tax credit of up to $8,000.   You can qualify as a “first time home buyer” if you have not owned your principal residence in the past 3 years, owning a rental income property does not disqualify you from the credit.

The offer expires December 1^st of this year, so don’t delay; stop paying rent and start owning your own home.   Call us to set up a meeting with an agent today who can help you find a great deal on your new home, recommend a reliable mortgage broker, and inform you about the entire buying process.

Contact us today, we can help you find a great investment in Boulder County……….. 303-402-6000

website: www.bernardirealestate.com