My real estate company, RE/MAX Properties, Ltd, has been namedto RISMedia’s 20th Annual Power Broker Report and Survey, which identifies and rank’s America’s 700 largest residential real estate brokerage companies.

There are several different ways that first time buyers lose money by waiting to make a purchase.

 The first is a loss of tax deductions.  In most cases, people who lack a mortgage pay more federal and state income taxes than those who qualify for a mortgage deduction.  Another way renters lose money is through lack of wealth accumulation, generally in the form of creating equity by paying down the loan and through appreciation.  Although markets go in cycles, over a 10-year period, appreciation in our area has always done well.  An additional way that renters lose money is through increased interest rates.   We are at historically low interest rates.  Even a small increase in rates will cost you more money.

I’m excited to introduce a Optimal Driving Route feature on my web site.  This feature will allow you to input the homes you are interested in previewing and calculate the optimal order for driving to the properties.  Check this new feature out at http://paulrosso.topproducerwebsite.com/optimal-drive-route-.asp

Congress has approved a new tax break for homeowners who pay Private Mortgage Insurance (PMI) through 2010.  Homeowners with adjusted gross incomes of $100,000 or less can deduct the full cost of their government or private mortgage insurance premiums on their 2007 federal returns.  Families with incomes betrween $100,000 and $109,000 are eligible for a reduced deduction.

My Yearly and Monthly Local Market Evaluations for February 2008 are now posted on my web site at http://paulrosso.topproducerwebsite.com/market-update.asp.  Feel free to call me at 215-778-9687 should you have any questions.

The Department of Housing and Urban Development implemented temporary increases in FHA loan limits.  For our area the maximum base loan limit has increased from $292,650 to $420,000.  The new loan limits apply to Bucks, Chester, Delaware, Montgomery, and Philadelphia Counties.

Despite the market, I just got three of my sellers homes sold between March 3 and March 4, 2008.  The first seller had 4 offers.  The second seller had 2 offers.  And the third seller received one offer.  All three of these sellers were on the market with other agents who were not able to get their home sold.  Fortunately for my sellers, I have chosen not to participate in the slow market. I continue to use my 22 years of experience, my advanced sales and negotiating skills, and my exclusive, active and aggressive marketing program to get the results my sellers deserved.

Coleman had his home on the market for months and couldn’t get it sold.  He interviewed several agents and chose me because of my sales and negotiating skills, agressive marketing plan and my commitment to customer service.  Once I put the home on the market, I implemented my exclusive, agressive marketing plan and got him the results he deserved.   The home was sold quickly and for top dollar!

The Economic and Market Watch for the 4th quarter of 2007 is now posted on my website at http://paulrosso.topproducerwebsite.com/market-update.asp.  Feel free to call me at 215-778-9687 should you have any questions.

What an opportunity for home buyers. Mortgage rates have dropped to the lowest levels in 4 years. Rates are now about 5.6% for a fixed rate loan. This time last year the rate for the same loan was about 6.25%.  It is a great time to be in the market to buy a your first home or to move up to a new home!