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first time homebuyer: Changing Home Sale Market in Chicago and Suburbs - 06/25/09 05:56 PM
What is the next glitch in the changing home sale market for Chicago and the Suburban Market?
What also affects those property owners who want to refinance their property or do a mortgage modification?
Its the Appraisal....
Since May 1, home appraisals must be ordered at arm's length, often through a national management company. Gone are the days when a mortgage broker or lender could hire a familiar appraiser to close a deal. Now, communication between the appraiser and real estate agents is discouraged.
The new rules were proposed by New York Attorney General Andrew Cuomo, who pushed for the standards … (0 comments)

first time homebuyer: Good News in Chicago and Arlington Heights area Real Estate! - 04/29/09 08:03 AM
Have you heard the good news in real estate?
 * $8,000 tax credit for home buyers!
 * Lowest interest rates in memory!
 * The National Association of Realtors (NAR) affordability index is at it's highest in history!
 * Homepath Lending program for Fannie Mae properties! Qualify for a loan with as little as 3% down for owner occupied properties or 10% down for an investent properties!
 * Bank of America Buyer's Protection Plan! Lose your job or become hospitalized and your mortgage can be paid for up to 12 months!
 * New home sales skyrocketed in February!
 * Home prices increased in January/February … (1 comments)

first time homebuyer: Don't Miss It! First Time Home Buyer Tax Credit up to $8,000! - 04/23/09 08:05 AM
Are you a first time homebuyer?
According to the National Association of Realtors 2008 Profile of Home Buyers and Sellers, the median age of a first time homebuyer is 30 years old with a median income of $60,000.
First time homebuyers are in a unique position in the current real estate market because they are not constrained by the necessity to dispose of their current residence. In addition, there are many financial incentives from federal and state programs that are only available to first time homebuyers. Even individuals that have not owned a home in the last three years may be … (0 comments)

first time homebuyer: Financial Incentives for First Time Homebuyer's - 03/03/09 03:21 PM
Are you a first time homebuyer?
According to the National Association of Realtors 2008 Profile of Home Buyers and Sellers, the median age of a first time homebuyer is 30 years old with a median income of $60,000.
First time homebuyers are in a unique position in the current real estate market because they are not constrained by the necessity to dispose of their current residence. In addition, there are many financial incentives from federal and state programs that are only available to first time homebuyers. Even individuals that have not owned a home in the last three years may be … (0 comments)

first time homebuyer: What You Should Know About the First-Time Home Buyer Tax Credit - 02/24/09 10:49 PM
The American Recovery and Reinvestment Act of 2009 features an $8,000 tax credit for first-time buyers who purchase a home on or after Jan. 1, 2009 and before Dec. 1, 2009.
Highlights of the tax credit include:
* The temporary tax credit is only available for home purchases made from January 1, 2009 to December 1, 2009 and is equal to 10 percent of the cost of the home, up to a maximum credit of $8,000.
* Buyers can claim the credit on their federal tax return to reduce their tax liability. If the credit is more than their total tax liability that … (2 comments)

first time homebuyer: Arlington Heights Real Estate Market Update - 02/19/09 09:14 AM
Did you know that homes ARE selling in Arlington Heights? As of February 19, 2009, 9% of the single family homes that are listed for sale in MRED (our area multiple listing service) are under contract! That is still a relatively low number compared to during the booming real estate market but it does mean that there are buyers out there!
Here are the rest of the market statistics as of February 19, 2009:
Property Type: Detached Single   Status: Active, Back on Market, Contingent, New, Price Change, Re-activated, Pending   Area: Arlington Heights
The attached homes range in list price from $48,000 to $849,000 with … (0 comments)

 


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