For Buyers

Guidance on New $6,500 Tax Credit for Repeat Home Buyers

If you have questions about the the $6,500 tax credit for repeat home buyers, the IRS has published guidance to help consumers better understand the requirements.  This Washington Post article gives an explanation of the credit and provides a link to the IRS for more information.  A little research led me to this IRS link [...]

January 1, 2010 HUD-1 and GFE Changes

Effective January 1, 2010 a new Good Faith Estimate (GFE) and HUD-1 (closing statement) are required.  These updated forms are designed to better inform borrowers and to restrict fee increases that borrowers have experienced in the past.  It should help to eliminate surprises at the closing table in relation to fees the borrower pays or [...]

Home Buyer Tax Credit Not Just for First Time Buyers

The Extended Home Buyer Tax Credit: Find the basics for homebuyers, and home owners from the National Association of REALTORS®. They provide some valuable information.  NAR further info

Homebuyer tax credit extended and expanded!!!

“The legislation also would extend the $8,000 homebuyer tax credit to contracts signed by April 30 and closed by June 30. The controversial credit, which many say has boosted home sales in recent months, was set to expire after Nov. 30.

The bill also creates a $6,500 credit for those who buy a home after living in their current house at least five years. That measure would apply to contracts signed by April 30 and closed by June 30. The current credit defines a first-time homebuyer as someone who has not owned a residence within the past three years.”  Read entire article.

Selecting a Home Inspector

When your real estate agent recommends that you get a home inspection and I hope they are recommending one, how to you select a good one?  There are several to choose from, but I advise that you interview at least two before choosing who to hire to do your home inspection.  Hopefully your agent has suggested at least two home inspectors that they have had good experience with, but the ultimate selection is your choice not your real estate agent’s.  I recently found this good blog on oline that proposes some excellent questions for you to ask of the home inspectors that you are considering.

Is The Tax Credit Going To Extend?

“Democratic Congressional leaders are working with the White House to extend an expiring $8,000 tax credit for first-time home buyers, and aides said Wednesday that they were considering making it available to current homeowners who purchase a new residence.”   To extend this tax credit for home owner in general would …

First-Time Homebuyer Tax Credit

The time to qualify for the First-Time Homebuyer Tax Credit is running short.  You must purchase a home before December 1, 2009 to qualify.   That means that you have to close by November 30, 2009, not just have a contract to purchase.  If you are going to finance your purchase,  it will take 30-60 days to close on your purchase depending on the type of loan that you get.   There are only 81 days left.  It is time to start talking to both your lender about qualifying for a loan and to your  REALTOR® about finding your first home.  Learn more about the First-Time Homebuyer Tax Credit

The difference between a Client and a Customer

Idaho real estate law requires that at the first substantial discussion with a potential buyer or seller, that you be given what we call the “Blue Brochure”.   The Blue Brochure explains the agent’s responsibilities to you and how they differ if you are a Client or a Customer.  My job is to educate you about the difference and give you an opportunity to decide what our relationship will be.   Watch for further posts explaining the difference between a Client or a Customer or click here to read the Blue Brochure for yourself.

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How do Real Estate Agents Find Buyers and Sellers

Most clients and customers that real estate agents work with don’t just walk in the door or call from an ad in a real estate publication.  The real estate business is driven by repeat business and referrals.  Buyers or sellers who have been happy with the service I provide are a great source of advertising as they tell their friends and family what they liked about working with me.   Don’t hesitate to spread the word about the benefits of working with your favorite realtor.

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