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Corey Salois

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Homebuyer Tax Credit Extension

by From DS News

It’s official—on Friday morning, President Obama signed legislation to extend the closing deadline for homebuyer tax credit recipients.

Originally, qualifying buyers who were under contract by April 30, 2010 had until June 30, 2010 to close. But as this deadline approached, concerns arose that the backlog of loan applications created by the popularity of the program would leave many buyers unable to claim the credit.

In fact, an estimated 180,000 buyers were at risk of missing the closing deadline, according to the National Association of Realtors (NAR).

These at-risk buyers can now breathe a sigh of relief. President Obama’s approval of the Homebuyers Assistance and Improvement Act of 2010 extends the closing date from June 30, 2010 to September 30, 2010, giving qualified buyers who signed a contract by April 30, 2010 an extra three months to complete their closing.

America's Coolest Small Towns

by Corey Salois

Those of us that reside in the Flathead Valley know how lucky we are. Sometimes we forget but ultimately we know that we truly live in a special place. I notice when I travel for conferences how much people envy where I live. When I tell people I live in Northwest Montana they always seem to have a story about one time that they came fishing or skiing or some other outdoor activity and how much they can't wait to come back.

I stumbled across this article while looking for information about the area to post on my website. I thought I would share it so that you can get an "outsiders" take! Enjoy!

WHITEFISH, MONTANA (pop. 7,723)
ski bums and urban refugees congregate

After a frenzied stint on Broadway's 42nd Street, actor Luke Walrath was ready for a quieter pace. His actress wife grew up in Whitefish, so the two decided to make it their new home. "It's at once folksy and stylish," he says of the town, a 35-minute drive southwest of Glacier National Park. The couple cofounded the Alpine Theatre Project, which stages seven shows a year (alpinetheatreproject.org). At the foot of the Rockies, Whitefish has long drawn adventure seekers. Ski bums and urban refugees congregate over red malty Highlanders at The Great Northern Brewing Company (2 Central Ave., greatnorthernbrewing.com, pints from $3.75). To live out a rustic Montana fantasy, book a cedar-walled room at Good Medicine Lodge, which feels like a set from Legends of the Fall (537 Wisconsin Ave., goodmedicinelodge.com, from $95). Kathryn O'Shea-Evans

Should I Buy a Home Now?

by Corey Salois

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

Displaying blog entries 11-13 of 13

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Photo of Corey Olofson, Broker Real Estate
Corey Olofson, Broker
RE/MAX of Whitefish
509 E. 6th St.
Whitefish MT 59937
Office: 406.863.3400
Cell: 406.253.0531
Fax: 406.863.3400