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Archive for March, 2009

2:30 pm March 3, 2009; 54 degrees, sun and partly cloudy.   We see warmth coming our way soon.   Birds are everywhere looking for food and scouting out nesting sites.   The fish in my pond are starting to show activity and looking for food.   I even went out to the golf course and hit some balls.   I am totally a fair weather golfer.  Rain, wind and cold do not fit my game.

We spent the biggest part of our morning staff meeting talking about the new first time homebuyer tax credit with my CPA, Mike Lemm.   What a huge incentive for first time homebuyers to make the move to home ownership.    The credit is available to any single or married purchaser who meets the first time homebuyer criteria.  Go to the IRS website for complete information on the qualification.   The credit expires on December 1, 2009 so your sale would have to closed by December 1 unless the date is extended by congress or the president.

The Blue Mountain Mall foreclosure did take place and the rumor is the original group has formed a new LLC to take over the deed of trust at the court house this past Friday.   I really hope the process moves ahead and we see the completion of the project.   It leaves a very large hole in our retail sector for Walla Walla and the Walla Walla Valley.

We have several other high impact retail areas in discussion such as the Myra extension from Hwy 12 to Hw 125 and the land south of the Hwy 125 intersection.   We are still getting inquiries from different groups looking to invest in the Walla Walla area.   We are lucky to have moved through the early real estate crash with minimal damage.   I know we feel locally it has been tough but nothing in comparison to California, Nevada, and Arizona.   Lots of families lost everything they own.

Check out our company website,  www.coldwellbankerfirstrealtors.com, for available listings  and also the IRS website for information on the first time homebuyer program.  I would also recommend that you talk to your tax professional as well.

Thanks for your time

DM Ledford

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