first time home buyers: MORE PROOF THAT HOUSING TAX RELIEF PLANS WORK - 11/10/09 02:23 AM
More support reported today for housing stimulus plans:
The median price for a single-family home was $177,900 in the third quarter, down 11.2% from last year, the National Association of Realtors said in a report this morning.
But the first-time-homebuyer tax credit helped push total state existing-home sales, including single-family homes and condos, up 11.4% to a seasonally adjusted annual rate of 5.30 million units in the third quarter from 4.76 million units in the second quarter, the NAR said.
 They are now 5.9% above the 5.01 million-unit pace in the third quarter of 2008.

first time home buyers: GOOD HOUSING NEWS!! - 10/23/09 03:43 AM
I love news like this:
WASHINGTON - Home resales rose in September to the highest level in more than two years, beating expectations, as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.
The National Association of Realtors said Friday that sales rose 9.4 percent to a seasonally adjusted annual rate of 5.57 million in September, from a downwardly revised pace of 5.1 million in August. Sales had been expected to rise to an annual pace of 5.35 million, according to economists surveyed by Thomson Reuters.

first time home buyers: ANOTHER FIRST TIME HOMEBUYERS INCENTIVE REPORT - 10/02/09 02:32 AM
"The housing market is getting a much-needed boost as first-time homebuyers rush to take advantage of an $8,000 federal tax credit that is set to expire Nov. 30, 2009. 
The incentive is helping to slow the decline in home sales. In August, sales were down 1% over the comparable period last year, the smallest year-over-year decline in any month since late 2007. As Congress considers extending the credit, real-estate agents and home builders worry sales could slump again if it's allowed to expire.
A full accounting of the program's popularity won't be available for several months, but brokers say first-time buyers have … (4 comments)

first time home buyers: BETWEEN A ROCK AND A HARD PLACE - 09/26/09 07:11 AM
Information provided by RisMedia:
Zillow analysis of current market trends shows that, if the credit were extended, a total of 1.86 million first-time home buyers would purchase homes between Dec. 1, 2009 and Nov. 30, 2010. If all could take advantage of the full $8,000 tax credit, this could mean up to $14.86 billion in tax credits. "Although nearly two million first-time home buyers may receive the tax credit if it is extended for another year, the incremental impact of the credit is far smaller," said Zillow Chief Economist Stan Humphries. "These numbers suggest that extending the credit might bring an additional … (1 comments)

first time home buyers: FIRST TIME HOMEBUYER TAX CREDIT EXTENSION? - 08/12/09 11:28 AM
We have been really pushing the benefits of the First Time Home Buyers $8000 tax credit program for several months now.  Well the end is rapidly approaching - the program is scheduled to close in November.  But what if the program gets extended for another 6-12 months? 
This program has given hope and help to many people who never thought they would be able to live the American Dream of home ownership.  Now that they are aware of the program and have started to take advantage of it in greater numbers it seems wrong to close the door.

first time home buyers: THE CLOCK IS TICKING - 08/07/09 05:53 AM
-First-time homebuyer credit. This credit reaches $8,000 for purchases between January 1 and November 30, 2009. Taxpayers must be qualified buyers and satisfy income requirements. Eligible taxpayers also can file an amended 2008 tax return to receive the credit sooner.

first time home buyers: UPDATE - FIRST TIME HOME BUYERS' TAX CREDIT FLEXIBILITY - 05/21/09 04:10 AM
Are you sitting down?
Yesterday our mortgage folks said the Feds have pulled the letter allowing the First Time Home Buyers to use the $8,000 tax credit towards downpayment on a purchase or towards closing costs.  Today we were informed that the Feds are saying that they have not pulled the provision but have merely put it on hold while they re-review it.
I am going to take the advice some of you offered who responded to my earlier blog and that is that I will believe it when I see it and until then I am not going to talk about … (3 comments)

first time home buyers: ADDITIONAL HELP FOR FIRST TIME HOMEBUYERS IN NEW JERSEY - 04/18/09 12:27 AM
I have talked to several first time buyers who have good credit and want to take advantage of the $8,000 stimulus credit but just don't have the money available for the closing costs.  This sounds like a fantastic way to boost our service as a real estate professional by informing them of this program.
NJHMFA Offers Cash Advance for First-time Buyers
The New Jersey Housing Mortgage Finance Agency (NJHMFA) is offering cash payments of up to $5,000 for qualified first-time home buyers to help defray closing costs or satisfy down payment requirements and help new … (0 comments)

first time home buyers: CHECK OUT THE NEW AND IMPROVED FHA MORTGAGE - 03/12/09 11:57 AM
I just attended a briefing session conducted by ERA Home Mortgage on the changes to FHA Mortgages and I have to say that I am impressed.  FHA has streamlined its process to the point where it can now effectively compete with conventional mortgages.  BRING ON THOSE FIRST TIME HOME BUYERS!!
Gloria Laughton Allston, SRES, Burgdorff ERA Realtors, Princton, NJ

first time home buyers: FINALLY FIRST TIME HOMEBUYERS GET A REAL BREAK - 03/07/09 07:44 AM
I just added a page on my website for First Time Home Buyers and I list 5 reasons why the time is right for the First Time Homebuyer to buy now.
As everyone knows, these are truly challenging times in the real estate industry and the fact that we are not alone doesn't make me feel any better. But it is awesome that, in spite of the state of the economy, First Time Home Buyers are offered an outstanding opportunity to pursue their goal of home ownership with the possibility of receiving $8000 as a "rebate" in the form of a tax credit.  I … (0 comments)

Gloria Laughton Allston, Realtor(NJ)/Broker(NY) (COLDWELL BANKER RESIDENTIAL BROKERAGE)

Gloria Laughton Allston


Princeton, NJ

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