Brian Leavitt, REALTOR®

Freddie Mac you broke my heart

Freddie Mac you broke my heart.  You teased me with your beautiful little condo nestled on the wooded hillside by the lake.  Two ample bedrooms and two sparkling baths complete with tile floors and sleek tile tub surrounds.  Your spacious south facing living room took full advantage of the fleeting Seattle sun.  But you, unresponsive, communication challenged and unable to commit.  My intentions were clear from the very start, I wanted your condo to be my own to have and to hold in sickness and health to sale do we part, but it seems it was just not to be.  Perhaps you have been wounded by other less serious suitors but 30 days is way too long to expect me to wait.  Terms agreed to orally but no written response.  As beautiful and seductive as your condo is I have left you for another. 

Three days from offer to inspection and now ready to close.  My new condo is beautiful and fully committed, closer to the city center and in way better shape. You my old flame, I wish all the best.  Perhaps we can still be friends but more likely I think not.  Freddie Mac, until you clean up your act and deal with your skeletons you are destined to keep your own condo company.

 

Thoughts from a buyer after waiting 30 days for a signed agreement from Freddie Mac that never materialized.

Wordless Wednesday

Tax Credit Extension

Right now a battle is being waged in the House of Representatives over extension of the $8000 tax credit for first-time buyers.  On Monday the House voted unanimously to extend the deadline for one group of home buyers.  The extension was granted for military personnel, Foreign Service and intelligence officers.  HR 3590 was passed granting the extension to those that meet the underlying criteria and who are serving overseas or have spent at least 90 days deployed outside of the US during the current calendar year.  The bill was introduced by Rep. Charles Rangel (D-NY) because families serving overseas were being passed over for the one time opportunity to purchase a home.  Under the original law, a homeowner was required to occupy the home for 36 months or the credit would be recaptured.  Because the military and other Foreign Service employees frequently relocate many have been reluctant to apply for the credit even if they did purchase a home.

As far as the extension for the rest of us, there is no news as of yet as to whether any extension will be approved.  Both the National Association of Realtors and the National Association of Home Builders are strongly in favor of the extension.