Posted on March 3rd, 2010, by DHW
Homebuyers have 58 days to obtain a written, binding contract to qualify for the housing tax credits. First-time buyers and buyers who have not owned a primary residence for the past 3 years qualify for an $8,000 tax credit (or 10% percent of the sales price, whichever is less) so long as they are under [...]
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Posted on January 13th, 2010, by DHW
Buyers hoping to take advantage of the housing tax credits will need to have a written, binding contract in effect by April 30, 2010. Buyers will have until July 1, 2010 to close.
There are exceptions for certain armed service, intelligence service and foreign service personnel.
DHW asks: Will you take advantage of the housing tax credits?
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Posted on November 28th, 2009, by DHW
Before you know it, we’ll be saying goodbye to the beloved housing tax credits that brought new life to sales markets around the country. Here are some helpful links for first-time buyers seeking an $8,000 tax credit and for those taking advantage of the $6,500 tax credit.
The $8,000 Tax Credit (this link is provided by [...]
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Posted on November 23rd, 2009, by DHW
From the AP:
“Home sales far exceeded expectations last month, surging to the highest level in 2 1/2 years as first-time buyers rushed to take advantage of an expiring tax credit.
The National Association of Realtors said Monday that home resales rose 10.1 percent to a seasonally adjusted annual rate of 6.1 million in October, from a [...]
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Posted on November 16th, 2009, by DHW
A survey released last week by Move.com, a real estate website, shows 1 in 5 Americans plan on purchasing a home within the next year. The survey also revealed these buyers are most likely to be 34 years of age or younger and live in the South or West.
It should be noted this survey was [...]
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Posted on November 15th, 2009, by DHW
The Capital published an intriguing article addressing the potential side-effects of expanding the housing tax credits beyond first time homebuyers. The article raises some fair questions with regard to existing homes needing to be liquidated so that current homeowners can take advantage of the housing tax credits now afforded to them. The Capital article focuses on [...]
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Posted on November 14th, 2009, by DHW
Lawrence Yun, chief economist for the National Association of Realtors, predicted on Friday that home prices will rise in 2010. If his prediction holds true, home prices will see their first increase in four years.
Yun pointed to the current price-income ratio of 2.4 as evidence of pent-up demand in the market. The price-income ratio accelerated [...]
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Posted on November 12th, 2009, by DHW
From The Washington Post : ‘FHA’s cash reserves have dropped well below amount required by law, audit shows’
DHW asks: Do you think the FHA’s reserves will hit zero?
FHA loan limits in your area
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Posted on November 12th, 2009, by DHW
U.S. foreclosures sank for a third consecutive month in October, down 3% from the previous month. However, many feel this trend will not continue. Foreclosure notices were curtailed in many states due to temporary, legislative intervention. CNBC reported Nevada foreclosures “dropped 26 percent from the previous month because of new legislation requiring mediation before initiating [...]
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Posted on November 11th, 2009, by DHW
In a CNBC interview this morning, Realogy CEO, Richard Smith, called on FHA to increase its minimum required down payment of 3.5%. Mr Smith suggested the ‘risk profile’ will have to change to stave off foreclosures. This argument only perpetuates the myth that those who put less money down are somehow less attached to their [...]
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