Maybe Oklahoma Real Estate could have been helped even more, had the sellers received the first time buyer tax credit to sell their homes. The moneys could have been stipulated for bringing roofs, HVAC, foundation problems, carpet/tile, countertops, and plumbing up to standards that meet FHA guidelines. It could also be used to pay buyer closing cost. The result would boost the business of Oklahoma licensed contractor and put more money back into the businesses of the Greater Oklahoma City area.
Some first time buyers like the idea of getting the free money to buy a home, but expect the seller to pay closing cost and repairs that are needed post inspection. I have no problem with this if you are fortunate enough to find a house the is perfect for your needs without needing any improvements or repairs. You might even find a home that the seller would do anything to make it what you dreamed of.
This money was originally set aside to help a resident of the United States buy a home. Please don't forget what it's for. If your eligible for the money, that either means you have been paying rent for 3 years or living somewhere for free.
The National Association of Realtors fought hard to get the industry started with the First Time Home Buyer tax credit. I believe it's helping the industry, but I think a lot of it my be used for a new boat, or maybe a vacation in Hawaii.I know a lot of Americans that think it's a waste of money, and that it's not helping. The issue is often associated with the money spent toward the automobile makers.
If you're a first time home buyer taking advantage of buying a home with the tax payer's dollar, just remember this money was meant to be used to help you get into a home by providing money for your down payment and closing costs. So, try to be thankful you have this money to help you make an investment and buy your dream home.
Thanks for reading,