Condo Purchases May Require Extra Steps
Homebuyers who are contemplating purchasing a condominium should review a long list of documents and other information to make sure that the property they are fully informed. The following information is at the top of the must-consider list: Budget. Examine the...6 Reasons why it’s a good time to buy:
The housing market is looking healthier. Here are six reasons why now is the time to jump into the market.
1. Uncle Sam is willing to help. First-time buyers (defined as anyone who hasn’t owned a home in the last three years) are entitled to a maximum $8,000 tax credit; interest rates are at record lows; and the Federal Reserve is doing its best to make mortgage loans available.
2. People have to live somewhere. About 800,000 new households are formed each year in this country, ensuring that the housing market will tighten, even if the economy doesn’t soar.
Buyers can purchase AND renovate in ONE loan
FHA Program Offers Purchase, Renovation Aid “The Federal Housing Administration is encouraging use of its little-known 203(k) loan program. The 203(k) lets an owner-occupant borrow money for both the purchase and renovation in one loan, and put down only 3.5 percent....First-Time Buyers: It’s time to jump off the fence
D i d y o u k n o w ? First time homebuyers who buy a home by November 30, 2009, are eligible for an $8,000 tax credit. You do not have to repay the credit, provided the home remains your main home for 36 months after the purchase date. You can claim 10 percent of...Buyers Rush to meet Tax Credit Deeadline
“Real estate professionals report that first-time home buyers are flooding the sale market, pressed to finalize a deal before the federal government’s $8,000 tax credit offer expires on Nov. 30. Because mortgage approvals, residential inspections, and other steps in...