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Tax Credit Boom
My mother-in-law decided to sell her home in Benbrook, just south of Fort Worth, to be closer to her grandkids. While I was putting the for sale sign in the yard, a couple drove by and asked to see the home. They looked at the home and loved it. That night their Realtor called me [...]
2% Decrease In Foreclosures in February 2010
Good economic news in February points to a slow down in home foreclosures. RealtyTrac is reporting a 2% decrease from January 2010 in it’s February Foreclosure Market Report. Although it is still 6% above filings from February 2009, it is still the smallest annual increase they’ve seen since January 2009. This is certainly a good [...]
You’ve got til April 30th to find a home
Just a quick reminder, if you are a first time home buyer or have not owned a home in 3 years, you have until April 30th to get a home under contract to get up to $8000 from the government. You do not have to close on the home until June.
New Home Buyers Downsizing and Going Green in Recession
For the first time since 1982, the square footage of completed new homes fell from an average 2,520 square feet to 2,480 square feet in 2009, according to the National Association of Home Builders. Smaller homes have been a trend for many years (fewer bedrooms and bathrooms) but the recession has accelerated that trend. And [...]
Expanded Tax Credit for First Time Home Buyers
Great news for those who missed out on the new home buyers tax credit! Home buyers can take advantage of the extended new home buyers tax credit, up to $8,000 (or 10% of the purchase price), until April 30, 2010 . Additionally, existing homeowners can also take advantage of a new tax credit up to [...]
Pending Sales for Homes Remains Higher Than Last Year
Great news for existing homeowners who are selling their homes. Not only are home sales higher than last year, but the newly expanded tax credit will allow existing homeowners to also get a tax credit when they purchase their new primary residence. They must have lived in their previous home for 5 years and the [...]
$8,000 Tax Credit Now Available at Closing for FHA Loans
The Federal Housing Administration (FHA) will now allow the maximum $8,000 tax credit to be applied at closing for qualified home buyers. Additionally, FHA will now allow those home buyers to use the credit to make a larger down payment (FHA still requires 3.5%), cover closing costs or to buy down their interest rate. This [...]