Odessa Real Estate Listings - Homes for Sale in Odessa, TX

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Donna Edwards
Broker Associate
(432) 934-4439 cell

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Owning a home is the
American dream.

It not only provides amazing tax
benefits but it also provides
shelter and security to families.

Did you know that:
— Dollar for dollar, the rate of
return on an individual’s cash
down payment on a house is
substantial? And that repeat
buyers are able to put 19% more
down on a new home due to
appreciation?

— Home owners move less
often and are more likely to vote
and volunteer time for political
and charitable causes than
renters?

— When you own a home you
can deduct the property taxes
and mortgage interest from your
income taxes?

— The gains that you make on a
primary residence that you’ve
occupied for two years out of 5
can be tax free?

So Why Wait on a New Home?

Rent vs Buy Calculator

New, Extended Tax Credits

For a limited time,

many homeowners who

want to

move-up can now get up to $6,500 tax credit

first time buyers

can

receive up to

$8,000

.**

Mortgages are at Historically Low Rates

For buyers who qualify,

mortgage

rates

are near historical lows. Rates are well under 6%.

According

to data provided by

Freddie Mac, rates averaged 9.2% in the

past 30 years.

Housing Choices are Abundant

In most markets prices won’t go any

lower and

there is an abundance of inventory

, at a

15-year high.

The Market is Getting Stronger

The Homebuyer Tax Credit contained

the

Housing and Economic Recovery Act of 2008 was updated in the

American

Recovery

and Reinvestment Act of 2009.

Home Ownership is an Investment in Your Future

A Federal

Reserve

study

has

shown that the typical homeowner’s net worth is

between 31 and

46 times the

net

worth of the typical renter. The median

homeowners’ net

worth in 2007,was

$224,200

compared to $5,100 for

renters.

FHA Loans Set to Increase

With low down payments, low closing costs,

and easy

credit qualifying. FHA market share for home purchases is

expected to rise

significantly

over the next 3 years, from an estimated 4%

2007 to an estimated

35% in 2009.

*According to the NARs "It's A Great Time To B

Get Your Free Copy

**For details go to www.irs.gov

Donna Edwards REAL ESTATE SPECIALIST 432.934.4439

Legacy Real Estate

Extending the Good News
for Home Buyers

The home buyer tax credit, has
been extended – and expanded.
That is indeed good news for first-
time buyers, as well as repeat
buyers, many of whom will be able
to take advantage of the program.

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