Buyers Who Wait May Lose a Lot

Potential home buyers who delay have a lot to lose.

First-time home buyer and move-up tax credits worth $8,000 and $6,500, respectively, expire April 30. Buyers who qualify get a dollar-for-dollar reduction in taxes or a cash payment if they don’t pay enough taxes to cover the credit.

Other factors that should spur buyers:

Low mortgage rates. If the Federal Reserve stops buying mortgage-backed securities at the end of March, 30-year rates will almost certainly rise to more than 6 percent.

Rising prices. About 30 percent of markets are already experiencing price increases. Prices are falling in 12 percent of markets, says Fiserv (but that only helps if you want to live there).

Source: Money Magazine, Beth Braverman (03/02/2010)

Buyers Should Consider Prepaying Mortgage

Should home buyers with sufficient cash pay down their mortgages or put the extra money in investments or savings?

Financial experts say the choice depends on the home buyer's employment prospects, current savings, and investable assets.

If life looks a little uncertain, they advise putting the money in a safe place, like a savings account. But for people with more stable financial situations, paying down the mortgage can be a great investment, often providing a better return than a savings account.

Source: Washington Post, Ilyce R. Glink and Samuel J. Tamkin (02/27/2010

Municipality of Anchorage elections will be held on April 6th.  Two Girdwood Board of Supervisors seats are up for re-election.  I am running for re-election to Seat 'C'.  This is a three year term.  I was appointed to this seat by Mayor Begich in the fall of 2007 after being recommended by the Girdwood Board of Supervisors. I was subsequently re-elected in the spring of 2008 to the remaining two years of the three year term.

After a little more than two years on the Board, I have learned that it takes at least a year, and possibly longer, to really understand how the Board functions.  In addition, it takes some time to learn about the issues affecting our community.  Being a member of the Board is a committment.  It can take time and it can be a thankless volunteer position, but our community cannot function without individuals dedicated to Girdwood.

I gave running for re-election great thought and consideration.  I would appreciate your vote on April 6th and hope you'll support me as a volunteer dealing with the issues that affect our community.  I am available to answer any questions you may have as to where I stand on issues affecting Girdwood; please feel free to reach me by phone at 907/223-9799 or by e-mail at Bryan@BryanEpley.com .