Check out the most expensive homes currently listed in the US as compiled by Forbes.  Any takers?

$150 million

The Manor

Holmby Hills, Calif.

The home that Candy Spelling, widow of television giant Aaron, put on the market in 2008, out-prices every other property in the U.S. The 56,500 square-foot English-style mansion has a bowling alley, wine cellar, rooms for gift-wrapping and silver and china display, a library, gym and media room. Its 4.6 acres includes pools, a spa, landscaped gardens, a waterfall and parking for over 100 cars.

$125 million

Fleur de Lys

Beverly Hills, Calif.

This 35,000-square-foot home, listed in 2007, is said to be modeled after Versailles, and the mansion makes no attempt at understatement. Its 12 bedrooms, 15 bathrooms, 50-seat screening room, Italian marble and gold-embossed leather walls ooze wealth. Owner Suzanne Saperstein hasn’t compromised on the price in three years. After all, it’s a relative bargain compared to the manor, just a few blocks away.

$100 million

Tranquility Estate

Lake Tahoe, Nev.

Tommy Hilfiger cofounder Joel Horowitz’s 210-acre spread features the third-highest price tag in America. The 20,000-square-foot main house has extras like a cigar lounge, art studio and sports gym, while its grounds feature a golf course, boathouse and views of Lake Tahoe. A staircase in the home replicates the stairs of the S.S. Titanic. The home has been on the market for almost four years.

$80 million

Kaiser Estate

Honolulu, Hawaii

Separately, the three coastal parcels that comprise the former estate of industrialist Henry J. Kaiser wouldn’t make this year’s list, but together, the 5.5-acre property becomes one of the country’s most expensive. The island getaway offers coastal views and a sleek mid-century style 15,000-square-foot home, extensively landscaped tropical grounds and a 12,000-square-foot boathouse and marina. Tech tycoon Fred Chan and his wife, Annie, put the home on the market in January 2009.

$75 million

Humming Bird Nest Ranch

Simi Valley, Calif.

Though it’s named after the tiniest of birds, this property spans 123 acres. In addition to a 17,000-square-foot Spanish-Revival-style main house, six guest homes and 10 townhouses grace the estate, as does a fully equipped equestrian center and parking for 200 vehicles. If driving doesn’t suit you, there’s also a helicopter pad.

$75 million

Former Julius Forstmann House

New York, N.Y.

Historic, spacious and well-located Upper East Side townhouses don’t come on the market very often. When they do, they typically command attention with a jaw-dropping price tag, and this 21,000-square-foot limestone mansion on 71st Street, off Fifth Avenue is no exception. It has been on the market since 2008. Built in 1922 for Forstmann, a wealthy German merchant, the landmarked building offers five stories packed with original details like a sweeping marble staircase, marble fireplace and hand-carved moldings.

$75 million

Porcupine Creek

Rancho Mirage, Calif.

Golf enthusiasts with deep pockets might swing by Porcupine Creek, a residence that features a 19-hole course that won acclaim from Golf Digest magazine and was put on the market early this year. Its 249 acres outside of Palm Springs are also home to a 25,000-square-foot main house, a spa, gym, pool and grotto. Edra Blixseth, who got the property in a divorce settlement with her husband, Tim Blixeth, is selling the home out of bankruptcy.

Reminder: Members of the military and certain federal employees serving outside the US have an extra year to qualify for the first time homebuyer credit.

Additionally, there are new benefits for members of the military and certain other federal employees:
Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase.

Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010

There is only one week to go to take advantage of the home buyers tax credit. First time home buyers can get up to $8000 and repeat buyers can get up to $6500. Don’t miss out. You need to be under contract by 4-30 and close by 6-30. There are some great deals available right now and the extra cash is the cherry on top! Call me today

Home buyers tax credit extended and expanded to include  current home owners.  Lets go!!!!

The House voted 403-12 Thursday to extend and expand the tax credit to include many buyers who already own homes. The Senate approved the measure Wednesday, and the White House said President Barack Obama would sign it Friday.

Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time homebuyers — or anyone who hasn’t owned a home in the last three years — would still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30.

The $8,000 tax credit for first-time home buyers would be extended and some people who already own residences could claim a benefit under a proposal by Senate Democrats.

An agreement reached and passed by the Senate would let homeowners who buy a new home qualify for a $6,500 credit if they have lived in their prior residence for five years.

A quick summary of some of the highlights include:

— The tax credit would be $8,000 for first-time home buyers and $6,500 for move-up buyers (from December 1, 2009 to April 30, 2010).

— Move-up buyers will be eligible, so long as the home they are leaving has been used as their principal residence for 5 years or more.

— The tax credit would sunset on April 30, 2010. However, there would a binding contract rule that will permit those with contracts as of April 30th to qualify for the credit as long as they complete the transaction within 60 days.

A House Democratic aide said House leaders would likely adopt whatever language the Senate approves.

According to a report by the Internal Revenue Service, “Tennessee has the 13th highest rate, in the nation, of residents taking advantage of the first-time homebuyer credit”  See the full story on the Nashville Business Journal

I know I talk about it a lot but time is running out.  If this credit isn’t extended it will disappear the end of November.  If you are a first time home buyer there are some great deals to be had!

The $8000 first time home buyers tax credit is set to expire soon.  If you haven’t closed on your purchase by November 30th you may loose out.  It takes longer to get to closing now and with this deadline looming more and more people are going to be in the system thus making the contract to closing time even longer.  So even if you are currently under contract you may not make the Nov 30th closing deadline.

If we all contact Congress to extend and expand this program so that more buyers can purchase the small uptick seen in the economy will continue and grow.  The above link is a very short video put together by the National Association of Realtors with real agents expressing the need for an extension and expansion of the program.  Take a look at it then contact your representatives and urge them to extend this program in the interest of the entire country.

Trying to figure out why you’re still waiting on your appraisal and you didn’t have a say in who is doing it?

Read the story here

I called a broker who I work with quite often and most of their lenders have not increased the costs to the consumer for the appraisal but some have added an additional fee and are calling it something other than what it is.  I can’t give names but one large bank in the area told one appraiser I know that if he wanted to work with them he would decrease his fee to them to $200 yet they were still charging the consumer the full amount.

The level of corruption and greed never ceases to amaze me.

FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.

Get the full article here.

Last week, FORBES.COM published a news story listing the 10 "Best Places To Buy Foreclosed Homes." The nation’s 100 largest metro areas were studied in the process of selecting the Top 10. Basing their analysis on recent data from RealtyTrac, the report identifies markets where properties in foreclosure may, in fact, be a good investment …because the markets in those areas are stabilizing and "foreclosures aren’t symptomatic of local economic ruin."

TWO Tennessee cities (and surrounding areas) made the Top 10 List:

        1. Charlotte, NC

        2. Raleigh, NC

        3. NASHVILLE, TN

        4. Oklahoma City, OK

        5. San Antonio, TX

        6. Albuquerque, NM

        7. KNOXVILLE, TN

        8. Seattle, Wash.

        9. Indianapolis, Ind.

        10. Washington-Arlington-Alexandria