From the category archives:

First Time Home Buyers

Homebuyer tax credit extended and expanded to include current homeowners!

Thumbnail image for Homebuyer tax credit extended and expanded to include current homeowners! November 7, 2009

Yesterday President Obama signed into law an extension and expansion of the homebuyer tax credit. The new legislation benefits both first time homebuyers and current homeowners who sell their current home and buy another home. Buyers must sign a contract before April 30, 2010 and close by June 30, 2010 to qualify for the tax [...]

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1st time home buyers who procrastinated are making some home sellers very happy!

September 20, 2009

Home sellers in the starter home price range are enjoying a brief sellers market as first time home buyers who waited until the last minute to make offers on homes now find themselves bidding against other first time home buyers who also waited thinking home prices would continue to decline.
First time home buyers must [...]

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FHA first time buyers risk missing $8K tax credit deadline!

September 10, 2009

Time is running out for first time home buyers using FHA (Federal Home Administration) financing and hoping to make the November 30th deadline in order to qualify for the $8K first time home buyer tax credit. One of my listings received multiple offers over the Labor Day Weekend as FHA buyers rushed to make offers [...]

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Foreclosures and short sales are no longer an option for first time buyers

August 7, 2009

If you’re a first time buyer wanting to take advantage of the $8K tax credit and get a deal on a foreclosure or short sale, but you haven’t already made an offer, you’ve run out of time. To qualify for the $8K tax credit, you must close on your home purchase by November 30th at [...]

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Don’t miss out on the $8K tax credit! Less than 6 months left is less time than you think!

June 3, 2009

The $8K first time home buyers tax credit expires on November 30th. Buyers have less than 6 months left to find, negotiate and close on the purchase of their home!
Both conventional and Federal Housing Administration (FHA) insured mortgages are taking longer to process this year due to tightened lending guidelines, a spike in FHA mortgage [...]

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1st Time Home Buyers Can Now Borrow the $8K Tax Credit Upfront!

May 29, 2009

Today the U.S. Department of Housing and Urban Development gave the go ahead to mortgage companies to develop bridge-loan products that enable first time buyers to use the benefits of the $8,000 federal tax credit upfront. Such loans let the buyers borrow against the tax credit giving them up to an additional $8,000 for a [...]

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IRS First Time Homebuyer Tax Credit Information Center

May 3, 2009

The IRS has developed a page on their site with links to answers on a variety of questions related to the first time homebuyer tax credit. Visit “First-Time Homebuyer Credit: Answers“. Take advantage of the $8,000 first time homebuyer tax credit good for home purchases through November!
Similar Posts:

FHA first time buyers risk missing $8K tax [...]

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First Time Home Buyer Tax Credit Frequently Asked Questions

March 5, 2009

The National Association of Home Builders released a list of 21 frequently asked questions about the first time home buyer tax credit. Also check out my post about combining the tax credit with FHA financing.
Similar Posts:

$7,500 1st Time Home Buyer Tax Credit Podcast
Economic Stimulus Package Includes $8,000 Tax Credit for Home Buyers
Don’t miss out on [...]

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How to Buy a Home and Get Your Down Payment Back

February 17, 2009

STEPS
1. Be a first time home buyer and make no more than $75,000, if you are an individual or $150,000 if you are joint tax filers.1
2. Qualify for an FHA loan.
3. Buy a home for your principal residence for $228,500 or less before Dec. 1, 2009 using an FHA loan with a 3.5% down payment.
4. [...]

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Economic Stimulus Package Includes $8,000 Tax Credit for Home Buyers

February 14, 2009

The economic-stimulus package passed by the U.S. House and Senate contains several modifications to the previous tax credit for home buyers. The package provides an $8,000 tax credit available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does [...]

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Senate Advances up to $15,000 Tax Credit for Homebuyers!

February 5, 2009

The New York Times reported late yesterday that the Senate “voted to expand the economic stimulus package with a tax credit for homebuyers of up to $15,000″. If the legislation passes, the tax credit will be up to twice the current tax credit for first time home buyers I wrote about just a few days [...]

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$7,500 1st Time Home Buyer Tax Credit Podcast

January 26, 2009

First time home buyers have a great opportunity this year with the federal government’s $7,500 First Time Home Buyer Tax Credit. However, a lot of first time home buyers haven’t heard about it or don’t understand how it works. The Illinois Association of Realtors recently released a podcast (17 mins.) that gives a good [...]

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Chicago Real Estate 101: How Realtors are Paid

November 10, 2008

On Saturday a woman wanted me to show her a house in Naperville. Even though the house was priced at $750K, I politely declined. The problem was the woman was already working with a Realtor. If I had shown her the house and she wanted it, she probably would have used her Realtor to write [...]

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