firsttime buyers: Home Buyer Tax Credit - Extended and Expanded to Current Homeowners!
- 11/11/09 07:45 AM
As was hoped by many, Congress passed an extension of the First Time Homebuyer credit and expanded the program to include qualified current homeowners. New deadline isn't until June 30, 2010 for settlement, with contracts executed no later than April 30th. We saw many First Timers wait until the last minute and some executed contracts with insufficient time to close before the previous deadline of November 30, 2009. This will help them and hopefully bring many other buyers into the marketplace. Below are some details. Tax Credit for Homebuyers First-Time Homebuyers: First-time homebuyers (i.e. people who have not owned a … (0 comments)
firsttime buyers: First Time Home Buyer Tax Credit ~ Only 3 Months Remaining!
- 09/01/09 06:31 AM
If you've been kicking around the idea of buying your first home ~ or, if you've owned a home before but haven't owned one during the past 3 years ~ TIME IS RUNNING OUT on the federal goverment's offer of a Home Buyer's Tax Credit up to $8000 for the purchase of a primary residence to qualifying buyers.
IMPORTANT: You must close on the purchase before December 1, 2009. That means you need to: Find the house, Negotiate an accepatable offer, Perform your inspections, appraisals, title search, etc., Apply for your mortgage, and Reach the settlement table … (0 comments)
firsttime buyers: Buying My First Home - a personal account
- 06/22/09 09:06 PM
As a former long-time city dweller I resisted purchasing a home for many years, instead renting in various parts of Manhattan and Brooklyn despite many entreaties by friends and family such as "Why wouldn't you buy instead of throwing your money away on rent?" I told myself and them that I didn't want to be "tied down" to any one place, I wanted mobility... and then remained in NYC for 15 years. Of course, had I purchased a home during that time, even a small co-op apartment, I likely would have had substantial equity to help me make my eventual move out … (0 comments)
firsttime buyers: The Good News & the Bad News: Are We There Yet?
- 10/27/08 04:55 AM
First the good news: Due to the ongoing financial crisis playing out on Wall Street (as well as around the world), everyone is finally waking up to the fact that in order to pull us out of this mess, the housing market needs to get back on firm footing and because of this recognition we're more quickly approaching the bottom of this cycle. That means that the small glimmer of light on the horizon is not an oncoming train but rather the beginnings of a recovery. Ok, now the bad news: We're not there yet. According to Jeff Otteau of the … (0 comments)
firsttime buyers: Attention Shoppers: Calling All First-Time Homebuyers!
- 10/25/08 03:30 AM
First-time Home Buyers are beginning to discover that now is a wonderful time to leave the world of renting and become homeowners. There are many reasons why the next six months will be "prime time" for this group who has largely been shut-out of the real estate market for the past seven years or so. Let me be clear, this is not the time for folks who have poor credit, no job and no visible means of support... hopefully we will no longer see loan programs that allow anyone with a pulse to qualify. But if you are employed, have been paying your … (0 comments)
As was hoped by many, Congress passed an extension of the First Time Homebuyer credit and expanded the program to include qualified current homeowners. New deadline isn't until June 30, 2010 for settlement, with contracts executed no later than April 30th. We saw many First Timers wait until the last minute and some executed contracts with insufficient time to close before the previous deadline of November 30, 2009. This will help them and hopefully bring many other buyers into the marketplace. Below are some details.
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