Route 66, Realtors, is located in the beautiful town of Pacific, Missouri. Originally opened by Monica Barrow, Broker/Owner, and Kay Leclaire in 2004, we have grown and expanded from our first location in Pacific, to our new office located at 1101 W Osage.

Proud of our new location and growing family of Agents, we strive to achieve the best service our Clients deserve. Combined, our Agents have more than 50 years experience in the industry.

We have agents available to service Saint Louis, Saint Louis Metro area, Saint Charles and surrounding areas. Our team is highly motivated and knowledgeable in many areas of Real Estate. Our marketing strategies have exposed our listed properties to a large pool of buyers, creating a successful environment for our Clients and Agents.

Our continued growth is a reflection of our achievements and individual drive.

We sincerely hope you will give Route 66, Realtors, the opportunity to show you ‘The Road To Your New Home”!

MHDC is allocating $15 million towards the HOPE program. Qualified Missouri families that purchase a home in 2010 are eligible for a HOPE incentive equaling the amount of the 2009 real estate tax bill associated with the property they purchased, up to a maximum of $1,250. Additionally, homebuyers who are approved for the real estate property tax HOPE incentive may also be eligible to receive an additional amount if they bought a qualified newly constructed energy efficient home or bought an existing home and remodeled or purchased items, such as Energy Star appliances, to make the home

more energy efficient. The maximum combined total of the HOPE property tax incentive and the HOPE energy efficiency incentive is $1,750.

Frequently Asked Questions

1) When can a homebuyer submit an application for the HOPE incentive?

• A homebuyer is eligible to submit an application after completing a home purchase in 2010. The contract to purchase the home must also have been executed on or after January 1, 2010. The executed sales contract and closing documents may be dated no earlier than January 1, 2010.

2) How long is the program available?

• $15 million is available on a first-come, first-served basis, which is based upon the date and time an approved application is received. The program is available until the entire $15 million has been expended.

3) What method is used to pay an approved applicant?

• The preferred method of payment is a direct deposit into the approved applicant’s bank

account. If the bank account information is not provided on the application, payment will be made by check.

4) What repayment conditions apply to the HOPE program?

• The HOPE incentive funds are provided in the form of an interest free loan, which does not charge interest or require payments. The recipient must repay the entire amount received if they fail to occupy the residence for at least one year from the date they receive the payment or sell, transfer, or otherwise dispose of the resident within one year from the date they receive the payment.

5) Are repeat buyers eligible?

• Yes, first time homebuyers and repeat buyers are both eligible for the HOPE program.

6) Who is eligible to apply?

• A household that purchases and occupies, as their primary residence, a one-to-four unit home in Missouri on or after January 1, 2010, is eligible to apply for the real estate property tax HOPE incentive, subject to the income limits below. The contract to purchase the home must also have been entered into on or after January 1, 2010.

• The applicant must be at least 18 years old.

• The applicant may not acquire the property from a relative, or spouse if married.

• Depending on the county of the home purchase, the applicants’ maximum gross household income may not exceed the income guidelines for low- to moderate-income persons or families established by MHDC.

First-time home buyers reached the highest market share on record during the past year, according to the latest consumer survey of home buyers and sellers. The study was released at the National Association of Realtors in November 2009

The number of first-time home buyers rose to 47 percent of all home sales from 41 percent of transactions in last year’s study, and was the highest on record dating back to 1981. The previous high was 44 percent in 1991. The profile shows the median age of first-time buyers was 30 and the median income was $61,600. The typical first-time buyer purchased a home costing $156,000, down from $165,000 in the 2008 study, and plans to stay in that home for 10 years.

Fifty-five percent of entry level buyers reported they financed their purchase with an FHA loan, while another 8 percent used the VA loan program.

Buyers searched a median of 12 weeks and viewed 12 homes. Among buyers who used an agent, 63 percent selected a buyer’s representative. Eighty-seven percent consider their home a good investment, and more than half see it as a better investment than stocks. Twelve percent of buyers own two homes, while another three percent own three or more homes.

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that

Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.

Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Who Qualifies for the Extended Credit?

First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.

Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Is Available?

The maximum allowable credit for first-time home buyers is $8,000.

The maximum allowable credit for current homeowners is $6,500.

How is a Buyer's Credit Amount Determined?

Each home buyer’s tax credit is determined by two additional factors:

1. The price of the home.

2. The buyer's income.

Price

Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

Buyer Income

Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit. Please consult your tax service provider for further information.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.