For Buyers Category
A (very) Quick Rundown of Some Current Buyer Programs
April 19th, 2009 Categories: For Buyers
Just in the last few days I have highlighted a couple of Buyer Programs that are currently available. I have also hit a couple of others in the last few weeks… there are a lot of programs out there to spur buyer attention!
If you are a buyer, especially one that doesn’t have to sell a house in order to buy, you can find all sorts of great options to help with the purchase. Let’s hit some… Read the rest of this entry »
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Do you have a Dream? Georgia has a Dream… for Buyers!
April 5th, 2009 Categories: For Buyers, Lilburn
- Image via Wikipedia
Have you heard of the Georgia Department of Community Affairs Georgia Dream NSP Purchase Plan?
In effect it can provide $14,000 to qualified buyers of qualified properties that can be used as down payment or for re-hab of the purchased property. And, if the buyer is a First Time Home Buyer, they may also be eligible for the federal tax credit of $8,000.
Here are some of the qualifications (from the DCA website):
- Buyer must recieve 8 hours of HUD approved home buyer counseling/education.
- Eligible income level for Gwinnett County for a family of four is $85,450. Smaller or larger families will have slightly different income limits.
- Buyer must use a participating lender.
- Property must be foreclosed and owned by HUD, VA, USDA, bank, governmental entity or eligible non-profit.
The $14,000 is delivered as a 2nd mortgage with no payment or interest, and is fogiven in stages over a 5 ½ year period.
The money will likely run out before the program’s scheduled end in June, 2010.
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HUD American Dream $100 Down Program
April 2nd, 2009 Categories: For Buyers, Lilburn
Seriously! I actually was going to write about this yesterday, but didn’t want to release something this important on April Fool’s Day… Because this is NO JOKE.
- Image via Wikipedia
HUD has a $100 Down Payment Program that is available on specific homes and through specific lenders. I have one of those lenders programmed in my phone… So, while the rates are amazingly low, prices have come down and the inventories are still generous, this is the time to take advantage of this kind of program.
Home ownership is the foundation of the American Dream. Being able to have a home to call your own is one of the greatest things this country offers, and even as the housing bubble burst, many have been looking for a way to own their own piece of the American dream…
If you want to take advantage of this program, Ken Cook at Novation Mortgage should be your first call, and I should be your second.
I look forward to hearing from you.
originally posted on GwinnettGarageGuy.com
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Buy a house, get $8,000…
March 31st, 2009 Categories: For Buyers
It has been pretty well publicized, but I thought I would toss it out there again… There is an $8,000 tax credit available for ‘first time home buyers.’ Here are a few facts about the program…
- A First Time Home Buyer is defined as someone that hasn’t owned a home in the last three years.
- The Credit is good for 10% of the purchase price of a home (new or resale) up to $8,000.
- There is a phase out for people with a Modified Adjusted Gross Income of more that $75,000.
- There are several ways to recapture the tax credit NOW, even if you have already filed your 2008 taxes.
- It is good on purchases up until December 1st, 2009.
There is a lot of pretty easy to digest information available direct from the source, the IRS, available here.
If you qualify, this is a GREAT incentive to buy a home. Rates are ‘kick-butt’ low, inventories are strong… although I will be writing about that in the next day or two… and underwriting guidelines are tougher than a few years ago, but not impossible.
from LaneBailey.com
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March Gwinnett Market Report
March 9th, 2009 Categories: For Buyers, For Sellers, Lilburn
It’s that time again… time to look back at the sales numbers for January and February in Gwinnett County real estate.
We live in interesting times. Take a look at the slide show.
I think that the best news right now is the decrease in listings. The number of new listings is down 31% from February of 2008. And the number of listings on the market is down 16% from February of last year as well.
March through May will be very telling in regards to the near term future of the atlanta area and Gwinnett County real estate markets. If the provisions of the stimulus package get buyers into the mood, we could see a recovery. If not… then it will be late in the year if not next year.
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Low Interest Rates… Don’t Blow YOUR Chance!
February 25th, 2009 Categories: For Buyers
I generally don’t word titles as strongly as that… But this is important.
Interest Rates on Mortages NEED to Rise…
It isn’t that we want them to rise, it is that the underlying structure is going to force rates higher. Here are the things contributing to that coming increases…
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Survey of Listings, III
February 21st, 2009 Categories: For Buyers, For Sellers, Lilburn
If you want to follow along, here are parts I and II.
Once again, I took a meandering walk through the new listings in Lilburn for the last 30days. As I wandered through, I was particularly looking for quantity of pictures and virtual tours. The reason I was concentrating on those items was all about research that EVERY real estate agent should be familiar with regarding buyer behavior. Read the rest of this entry »
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Atlanta, 3rd most vacant city?
February 17th, 2009 Categories: For Buyers, For Sellers, Lilburn
I just ran across a story from Forbes and Yahoo about America’s Most Vacant Cities. The list is this… Read the rest of this entry »
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Gwinnett Real Estate Town Hall Meeting… UPDATED
February 12th, 2009 Categories: For Buyers, For Sellers
I posted a couple of weeks ago about Diamond Dwellings sponsoring a Town Hall meeting about real estate in Gwinnett County. Well… we have upgraded the status of the meeting.
It was just announced today that Lt. Governor Casey Cagle will be at the meeting. This is the first of a series of meetings in Gwinnett County to talk about real estate and the general economy in 2009.
Meeting details are available here. The meeting will be at Hamilton Mill on Tuesday, February 17th, from 6pm to 8pm.
Of course I will be there…
from LaneBailey.com
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Gwinnett County Market Report for February
February 10th, 2009 Categories: For Buyers, For Sellers, Lilburn
It has taken me a few extra days, but here it is… the market report for Gwinnett County covering December and January.
As always, stay tuned for more interpretation after the slideshow. Read the rest of this entry »
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