Becky's Blog

  If you're considering buying your first home, here's another incentive for you.  This week, New York State introduced another tax credit for first time homebuyers.

  It's called the Mortgage Credit Certificate.  It allows home buyers to take a dollar-for-dollar federal income tax deduction of 20% of mortgage interest paid each year.  The remaining 80% of the mortgage interest would still be treated as an itemized tax deduction- as usual.

  Governor David Paterson says the average homeowner could save about $1,520 per year for the first 10 years of the mortgage.  This new tax credit would be on top of the federal tax credit of up to $8,000- which is due to expire at the end of November.

  A first time homebuyer is defined as one who has not owned a home during the last three years.  For the New York State Mortgage Credit Certificate, buyers must get a fixed rate mortgage with a partipating lender.  So far, Wells Fargo, Bank of America and M&T Bank have signed up and others are expected to take part.

  There are income and purchase price requirements, depending on where you live.  For Ulster County, the annual income limit for a household of up to two people is $83,640 and for a household of 3 or more, the limit is $97,580 and the purchase price must be below $354,970 for single family homes.  In Orange and Dutchess Counties, the income limit for a household of one or two people is $97,061 and for a household of 3 or more the limit is $111,620 and the house must be purchased for less than $387,740 for a single family.  Purchase prices can be higher for 2, 3 and 4 family homes.

  The program is expected to be available by the middle of September.  If you currently have an offer on a home, you can still apply for the credit.  If you don't have an offer on a house and would like to take advantage of each of these tax credits, give me a call today so we can get looking for your first home.  Time is running out to save with the federal tax credit of up to $8,000.

Barbara Carter and Becky Cook

Mother/Daughter Team Real Estate Two Together For You

ExiT Realty Services 10 Main Street Suite 424 New Paltz, NY 12561

Barbara (845) 505-3160 Becky (845) 853-4210 Office (845) 255-HOME

On the web: www.UlsterNYHomes.com    e-mail:  UlsterHomes@yahoo.com

Here in New York State, real estate agents are required by law to explain to clients and customers who they're working for.  If you see a house that's listed for sale and you call the office that listed the house, that agent is working for seller, not for you.  Many people decide to work with the listing agent, which is fine, but the agent is required to tell you who he/she is working for.

My cousin is lookig for her first home.  She wants my mom and me to represent her as her buyers' agent.  But a couple of weeks ago, before she really started looking, she saw a house listed on-line and called the listing office.  The listing agent set up appointments for my cousin and her boyfriend to look at 8 houses with him- they were all his listings or his office's listings.  After she went out with him, she e-mailed me and asked if I would mind helping her find a house.  I asked if she signed anything with the agent she went out with.  She said no, he didn't even ask her to sign an agency disclosure.  This form is required by New York State, everytime we show a house to someone, we must explain to the buyer who we're working for.  He never asked her to sign one of these forms.  The listing agent never brought up agency or the fact that he was representing the seller for all the listing agent on all the houses he showed her.  I told her I could work with her.

After he showed her the 8 houses, the listing agent started to harrass her.  When she told him she wanted to work with a buyer's agent, he told her that was fine, but if she bought any of his listings, she had to buy through him.  This is not true.  Then my mom called the agent to talk to him about my cousin's situation.  She explained that my cousin is a first time homebuyer, she doesn't really understand how real estate works, she's sorry she took up a few hours of his time, but she really feels more comfortable working with a buyer's agent, especially since we're family members.  The agent said, "You and I both know that they whole agency thing is bull****, everyone works for the seller."  Again.. not true.  Luckily, my cousin has found a house listed by another agent, and we won't have to deal with this guy anymore!

If you're in the market for a house and you're working with an agent, don't be afraid to ask who the agent is working for.  If they say they're working for the seller, you have a right to a buyer's agent if you want one.  Don't let agents bully you into thinking you must buy through them. 

Barbara Carter and Becky Cook

Mother/Daughter Team Real Estate Two Together For You

ExiT Realty Services 10 Main Street Suite 424 New Paltz, NY 12561

Barbara (845) 505-3160 Becky (845) 853-4210 Office (845) 255-HOME

On the web: www.UlsterNYHomes.com    e-mail:  UlsterHomes@yahoo.com

For the past couple of months, I've been in the dumps.  I don't even want to answer the phone, because I feel like all I ever get is bad news.

With the country's financial situation, my real estate career is at a stand still.  My husband is losing his job at the end of the year.  My uncle was diagnosed with prostate cancer.  A client's brother, a US Marine, was killed last week in Afghanistan.  My husband and I have been frantically looking for jobs- but nothing seems to be very promising.  My dad was forced out of a job we worked at for more than 30 years.  My mother, my real estate partner, has taken on 2 additional jobs to make up for my dad's career troubles.  Two people very close to me should be celebrating their 37th wedding anniversary today- instead I think their marriage may be over.  It's just non-stop.

Maybe it's time to create my own good luck.  I need to focus on my future and my family's future.  I know that God has always taken care of us and I know he will continue to take care of us.  Not sleeping and worrying all the time isn't making my problems go away.  My broker has some great marketing strategies in the works including several seminars for first time homebuyers, real estate investors, foreclosures, etc.  My husband has a couple of freelance jobs in the works and I've called all my friends who I've worked with in the past to ask them for help finding a job for either my husband or me.

I know this is a tough time for many Americans.  We will come through this.  We will come through this and will be stronger because of it!

Today is election day- and I just want to encourage everyone to get out and vote!!!  We are so lucky to live in a country where we have the right to vote.  I am always proud to be an American, but it always makes me stand a little taller and a little prouder when I walk out of the voting booth and I stick that "I voted" sticker on my shirt!!!

And if you think your vote doesn't count- think about the 2000 election.  I lived and worked in Palm Beach County, Florida.  I was working as a TV news producer for the CBS affiliate.  I'll never forget when our morning anchor walked into our editorial meeting at about 8:45 am and said, "I think there's a problem- our phone is ringing off the hook with people who had problems voting".  Little did we know.. that was the start of days and days of hanging chads, recounts and questions.

I don't know if today's election will be that close, but even if it's not, there's no excuse not to vote!!!  Our ancestors fought for the right vote- now we need to make them proud and exercise that right.

So, if you are a frequent reader of my blog, or if I'm a frequently comment on your blogs, you may be wondering where I've been. I've been wondering the same thing.

Over the last month, I haven't been blogging too much. First, my in-laws were visiting for 2 weeks. We spent a lot of quality time together, enjoying the beautiful autumn season in the Hudson Valley- so I was just too busy and tired at the end of the day to sit down and write.

Then a week and a half ago, my husband found out he is losing his job at the end of the year. For the last 3.5 years, he's been a television director for NBC's digital weather station- Weather Plus. We kind of anticipated this news, because NBC purchased the Weather Channel several months back. My husband has been hunting for a new job ever since.

Since we got this news, I've been frantically looking for a full-time job for either one of us- he is a television director, I am a television producer. We have a lot to think about. We live in upstate New York- and which ever one of us has to work, we will have to commute quite a distance. We also have a 3 year old son with autism. It would be very difficult for us both to work full-time and continue to manage our son's doctors, treatments, diet, and school. We don't want to move out of the area- my family is here and so are my son's doctors and school.

The reason I haven't blogged is- I honestly don't know what to say. I'm at a complete loss. I feel like I'm just going through the motions of life. We have no savings left- we spent a lot of money to move to New York and spent the rest of our savings on medical bills (both of our kids were born premature and very sick, and Nathan's autism treatments are not covered by insurance). I haven't had a real estate closing in months and I have no real prospects on the horizon. The economy is awful all around so it's not exactly a great time to be looking for a job.

Barbara Carter and Becky Cook

Mother/Daughter Team Real Estate Two Together For You

ExiT Realty Services 10 Main Street Suite 424 New Paltz, NY 12561

Barbara (845) 505-3160 Becky (845) 853-4210 Office (845) 255-HOME

On the web: www.UlsterNYHomes.com    e-mail:  UlsterHomes@yahoo.

I can't believe it's been more than 2 weeks since I've posted a blog here on ActiveRain.  I have thought about sitting down to write a blog several times- but sometimes life just gets in the way!!!

My in-laws came to visit for nearly 2 weeks.  They live in Florida and when they come they like to spend as much time as possible with my kids.  We all had a really good time.  They were happy that fall seemed to come a little early this year.  They loved seeing the fall foliage, eating the apples (not just fresh ones- we made applesaue, baked apples and bought fresh apple cider donuts!!!), and picked out pumpkins to take back with them for my neices, Julia and Kelsey.

The weather was perfect for their visit- cool at night and in the early mornings and mild during the day.  We spent a lot of time outside with the kids.  I lived in Florida for several years before I had kids, and this was always the time of year when I got the most homesick.  I had so much fun enjoying fall in the Mid-Hudson Valley through a visitor's eyes. 

If you're thinking of a fall getaway- the Hudson Valley has so much to offer.  And don't forget to make your reservations for the Headless Horseman Hayride in Ulster Park.  The annual freight fest has been named #1 Hayride in America by American Airlines Magazine, as well as #1 Haunted Attraction in the country by Haunt World Magazine.  CNBC and AOL put Headless Horseman in their 10 ten list of haunted attractions.

Barbara Carter and Becky Cook

Mother/Daughter Team Real Estate Two Together For You

ExiT Realty Services 10 Main Street Suite 424 New Paltz, NY 12561

Barbara (845) 505-3160 Becky (845) 853-4210 Office (845) 255-HOME

On the web: www.UlsterNYHomes.com    e-mail:  UlsterHomes@yahoo.

Everyone wants to get a good deal- but when you put in an offer to purchase real estate, it a serious document and isn't a joke.

We recently got an offer on one of our properties that has been on the market for quite some time.  The offer tens of thousands of dollars below the asking price.  At first our seller balked at the offer thinking the house was worth more, but the buyer and her agent didn't give up.  For weeks, we went back and forth.  The buyer said she couldn't afford to go any higher but loved the house and wanted it, the seller said she couldn't afford to go that low and still pay off the mortgage.  The buyer and seller each wrote letters to each other explaining their position. 

Finally, the seller decided that if the buyer (who was putting down a significant down payment) could close quickly, she'd take the offer.  We expected the buyer to be excited- instead we didnt' hear anything from her or her agent for days.  Finally her agent called and said her client never really thought that offer would be accepted and she wasn't really ready to buy.  WHAT!?!  SERIOUSLY?!?  This "buyer" and her agent had spent weeks tried to talk us and our client into this deal- now we learn it was all just a whim.

I had another deal recently fall through.  This time I was working with the buyers.  From the time they put in the offer, they kept threatening to back out of the deal.  If the least little thing when wrong, they threatened to walk away.  I knew in my heart that the closing wouldn't happen.  But everytime they threatened, I was able to smooth things over.  Finally 2 days before the closing, they called me and told me they would not be buying the house because a minor- I'm talking minor repair had not been done yet.  They ended up having to pay for the home inspection, title, attorney fees and face the possibility of being sued by the seller, but they didn't care.

I understand that buying real estate is a scary and emotional proposition.  But you need to weigh all the options and make an educated deicision before you put in an offer.  If you were the seller, this is what you would expect from prospective buyers.  As an educated real estate salesperson, I can help you decide if its the right time.  We can also help you find a mortgage that's right for you.

Barbara Carter and Becky Cook

Mother/Daughter Team Real Estate Two Together For You

ExiT Realty Services 10 Main Street Suite 424 New Paltz, NY 12561

Barbara (845) 505-3160 Becky (845) 853-4210 Office (845) 255-HOME

On the web: www.UlsterNYHomes.com    e-mail:  UlsterHomes@yahoo.com

If you've been thinking of buying a house, maybe this is the time to stop thinking and put in an offer.  Prices are down and many owners are anxious to sell.  Highland, New York is a great community to look in.  Highland is centrally located between Poughkeepsie, Kingston, New Paltz and Newburgh.  There are currently dozens of houses to choose from- from handy-man specials to large estates and from condos to new construction. 

Here's a look at the market conditions for single family homes in Highland: 

These are all the listings in Highland that have sold since August 1.  As you can see, homes that are priced correctly, sell the quickest.  Several houses were re-listed several times, and the prices dropped repeatedly when the houses failed to sell.

*DOM- Days on the Market

Many of the houses currently for sale in Highland qualify for a money down low interest loan through the USDA Rural Development Program.  If you'd like to take a look at homes in Highland or if you'd like more information about loan program, give me a call today.

Barbara Carter and Becky Cook

Mother/Daughter Team Real Estate Two Together For You

ExiT Realty Services 10 Main Street Suite 424 New Paltz, NY 12561

Barbara (845) 505-3160 Becky (845) 853-4210 Office (845) 255-HOME

On the web: www.UlsterNYHomes.com    e-mail:  UlsterHomes@yahoo.com

Where can you sample pizza, sushi, and lamb chops all in one place? This Sunday at Taste of New Paltz. The 18^th annual celebration is being held from 11am-5pm at the Ulster County Fairgrounds.

You can sample food from 30 area restaurants as well as wineries, breweries and farms. Admission is $5 for people 12 and over- and each sample is $2 or $3. Last year, I tried a mini pulled pork sandwich from Biggies Barbecue, the short ribs from Mohonk Mountain House, and cheesecake from The Bakery. I also brought home a caramel apple, a gallon of fresh cider and a pint of concord grapes for my family. We were not disappointed.

Once you've tried the best food our area has to offer, come see me. From new construction to antique homes and from large estates to small cottages, Ulster County has it all. Visit the EXiT Realty Services booth in the Youth Building for a taste of what makes us different. Whether you're interested in buying or selling, EXiT is cooking up a recipe for success.

Taste of New Paltz is held rain or shine- so I'll see there!!!

Barbara Carter and Becky Cook

Mother/Daughter Team Real Estate Two Together For You

ExiT Realty Services 10 Main Street Suite 424 New Paltz, NY 12561

Barbara (845) 505-3160 Becky (845) 853-4210 Office (845) 255-HOME

On the web: www.UlsterNYHomes.com    e-mail:  UlsterHomes@yahoo.com