Powered by Home Realty Renter Edition Carrie Pierce & Associates Newsletter Seattle Magazine 5-Star "Best in Client Satisfaction" Award Recipient In This Issue Negotiating Rent Tax Credits What's an REO? Negotiating Rent If you've been living in your current apartment for a while, odds are that your lease has you locked in a rent that really doesn't reflect the market in your area. You and your landlord may have signed off on an amount much higher than the monthly price he's offering to bring in new tenants. If your lease is coming up for renewal, you may be able to use that fact to negotiate a lower rent for yourself - but if you're only partway through your agreement, or your landlord refuses to negotiate on the rent, you do have other options? Tenant Incentives Carrie Pierce 425.518.1176 The Lowdown on Buyer Tax Credits In November, President Obama signed a law that extends through April 30 a temporary tax credit of up to $8,000 for some first-time home buyers. The law also adds a new tax credit of up to $6,500 for some repeat home buyers. The package, which the government estimates will cost a total of $11 billion, is intended to help spur housing sales, a critical part of the economy. Here are some answers to FAQs about the new rules... Get the Lowdown What Is an REO Property, and Is It a Deal? You've watched the late-night infomercials and you're ready to do the bank "a favor" and take a problem off their hands. Plus, you expect to make a killing in the process. Sounds great and it might just happen, but first you should take a look at some facts and get prepared. An REO (Real Estate Owned) is a property that goes back to the mortgage company after an unsuccessful foreclosure auction. You see, most foreclosure auctions do not even result in bids. After all, if there was enough equity in the property to satisfy the loan, the owner would have probably sold the property and paid off the bank... More on REOs