Decide to be Happy

I just posted a quote from Abraham Lincoln on my Facebook and Twitter pages that says, "Most folks are about as happy as they make up their minds to be." I have always made it a point to be happy no matter the circumstances, and for the most part, I succeed. It's a state of mind, a decision made in advance. It has served me well over the years.

Today I received an email that has a similar story and while who knows if it's true, it's a good story so I'm sharing it. What does this have to do with real estate you ask? Well, everything in my opinion. The news media is determined to tell us how scary this housing market is, how terrible it is to buy or sell right now but in reality, we are where we should be. The last few years have been an aberation, a blip of several years that made us think that the housing market should always be that way. Housing prices aren't meant to double in two years! If you were to draw a line on appreciation over the past ten years or so, leaving out those few crazy years, you'd see the correct amount of appreciation on homes in a straight line up about 45 degrees. So, lets ignore the media craziness - look for the good, look for the positive and realize that now is a great time to buy a home. It's not as exciting when you're selling, of course, especially if you bought your home at the height of the market. Yes, people are having to foreclose, but overall it's a very very small percentage of the number of homeowners.

Choose to be happy. Choose to deal with what's going on - good or bad - but realize that this is only a small moment and will be past soon enough.

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A 92-year-old, petite, well-poised and proud man, who is fully dressed each morning by eight o'clock, with his hair fashionably combed and shaved perfectly, even though he is legally blind, moved to a nursing home today. His wife of 70 years recently passed away, making the move necessary.

After many hours of waiting patiently in the lobby of the nursing home, he smiled sweetly when told his room was ready. As he maneuvered his walker to the elevator, I provided a visual description of his tiny room, including the eyelet sheets that had been hung on his window.

'I love it,' he stated with the enthusiasm of an eight-year-old having just been presented with a new puppy.

'Mr. Jones, you haven't seen the room; just wait.'
'That doesn't have anything to do with it,' he replied. 'Happiness is something you decide on ahead of time. Whether I like my room or not doesn't depend on how the furniture is arranged ... it's how I arrange my mind. I already decided to love it. It's a decision I make every morning when I wake up. I have a choice; I can spend the day in bed recounting the difficulty I have with the parts of my body that no longer work, or get out of bed and be thankful for the ones that do. Each day is a gift, and as long as my eyes open, I'll focus on the new day and all the happy memories I've stored away just for this time in my life. Old age is like a bank account. You withdraw from what you've put in. So, my advice to you would be to deposit a lot of happiness in the bank account of memories! Thank you for your part in filling my Memory Bank. I am still depositing.'

More on Tax Credits

Yet another update about the tax credits reported on earlier. The $8000 is for First Time Home Buyers buying their principal residence. Here's a note from Jeff Harris at Wells Fargo:

"I read a preliminary summary of the new Tax Credit in the Economic Stimulus Package. The credit is $8,000 for first time homebuyers purchasing their principal residence. (not vacation homes or rental properties). The credit would be calculated when the tax returns are done, not provided at closing.

Looks like the 2008 higher loan limits are also being reinstated. That will bring Howard County up from $494,500 to $560,000!"

The $15,000 proposed tax credit is for any home buyer, not just first timers, buying a principal residence. It has gone through the Senate and Congress as of today and is waiting for the President's signature. More to come as I get it!

Updates on the Stimulus Package and More Legislative Updates

Well, there may be some changes to what I blogged last time - here's what I just received from Mike Homberg, a Branch Manager at 1st Mariner Bank:

Here is what has passed and you can see (the) affect (on) our industry:

For qualified home purchases in 2009, the legislation:

Stipulates that the $8,000 tax credit does not have to be repaid, unlike the tax credit passed last summer;
Keeps the tax credit refundable, or claimable regardless of tax liability;
Extends the sunset date from July 1, 2009 until Dec. 1, 2009 so that consumers can utilize it during the critical summer and fall buying months;
Allows tax credit home buyers to participate in the mortgage revenue bond program; and
Permits state housing finance agencies to help buyers at closing by advancing the credit amount as a loan using tax-exempt bond proceeds. (If CDA adopts this, it could be a great opportunity for 1st time buyers because they will have the money upfront to spend.)

So, I don't know yet whether we get $8000 or $15000 for home buyers, but I do know that the National Home Builders Association was saying that it had to be $15000 and was working for that number. We'll wait and see as more changes come up.

I also heard from State Delegate Warren Miller today with a run down on what's happening in Annapolis. They started voting on bills this week, but as there are 1307 bills in the House and another 915 in the State Senate with more to come, they've got their work cut out for them this session. He had some good information about some "Bad Bills" coming up, one for selling garments with fur or other animal products and one for presumption of abandonment on gift certificates. Since it doesn't have to do with housing, I won't post it here, but feel free to write to me or to Del. Miller for more information.

From his email: "The Maryland General Assembly's website address is mlis.state.md.us You are welcome to review all bills that have been filed for this session and then let me know your opinion. I also encourage you to come to Annapolis and make your views heard. You can email me at warren.miller@house.state.md.us to find out more about the Legislative process."

It is our duty and privilege to learn more about our government and how it works. At a course yesterday on 2009 Legislative Updates it was pointed out by a classmate that "some looney" from down the road might really want something done and keeps bugging their legislator until to get rid of them, the legislator may introduce a bill suggesting their (the looney's) idea. (These are technical terms, folks!) If we don't pay attention to what's going on in our government and speak up, then not only might this crazy idea get passed, but it then reflects upon all of us and affects all of us.

I've been told that one call or email from us to our legislators is worth the thoughts of 500 people. So make your voice heard! Speak up for the things that are important to you!

$15000 Tax Credit for Homeowners?

Yesterday, the Senate passed an un-precedented Economic Stimulus package worth $838 Billion, more than the one suggested by the House at $819 Billion, in the hopes that Pres. Obama will sign it on President's Day next week. There's still scant Republican support for the bill and some of the items on it are questionable, in my mind and the minds of many others, (such as $1B for improving parks, which is nice but has nothing to do with stimulating the economy!) but it will provide a great opportunity for home buyers. A $15000 tax credit for people purchasing their primary residence is proposed.

According to the article linked above, "The bipartisan amendment to the stimulus package, offered by Sens. Johnny Isakson (R-Ga.) and Joe Lieberman (D-Conn.) and approved by unanimous voice vote, would create a $15,000 home buyer tax credit available to all purchasers of a principle residence for one year after its date of enactment. The tax credit would not have to be repaid and buyers could claim it against their 2008 and/or 2009 tax returns.

The $15,000 home buyer tax credit would replace and sunset a much narrower tax credit that was enacted last year. Available only to first-time home buyers, the current $7,500 tax credit works like an interest-free loan that must be repaid over a 15-year period. It is set to expire on July 1.

Extending and expanding the home buyer tax credit will spark the activity the economy needs to stop shedding jobs and begin creating them, said Robson."

While the First Time Buyer tax credit loan was a great idea, I really love the idea of offering ALL buyers a $15000 tax credit that does not need to be repaid! This will help reduce the overloaded inventory of homes available throughout the country, allow first time buyers a huge incentive to purchase a home at a great rate and help slow foreclosures and increase consumer confidence, which is certain to have a positive reaction in recovery from this tough economic time.

While this change affects me directly and that makes me happy, I still can see such a wonderful outcome for the country that I have to applaud it for it's own sake.

I met with Senator Allan Kittleman and our Howard County District 9 Delegates Warren Miller and Gail Bates on Wednesday night at the Dist. 9 Open House in Annapolis - along with a couple hundred other people I guess! However, in talking with Warren and with Gail, who are both Republicans, I can see that they are happy that legislation will be taking place that will help the recovery. They are all working hard to protect our interests in Howard County, and though I now live in Carroll County, I'm still proud of the jobs that they are doing. I spoke briefly with my current Senator, David Brinkley, who is wonderful and always willing to talk with his constituents. I spoke with Senator Larry Haines for Westminster, who is also a Realtor, so I see him regularly, but he does an excellent job also.

If you have the opportunity to meet with your elected officials, please do so. They love to hear what is going on in the community.