Category Archives: First time homebuyers
Higher Interest Rates to come?
In my ”free time” today I was catching up on some real estate industry news. In the News & Trends section of the April edition of Realtor Magazine, which is published by the National Association of Realtors, the following item caught my … Continue reading
Posted in Buyers, First time homebuyers, Mortgage/Financing
2 Comments
Status Definitions for ARMLS listings
A lot of homebuyers begin their home search on the internet. I get calls all the time from potential homebuyers inquiring about a property they have found. The problem I find is that a lot of these sites are not … Continue reading
Posted in Buyers, First time homebuyers, Real Estate Terms, Sellers
Leave a comment
First Time Home Buyer & Move-Up/Repeat Home Buyer Tax Credit Outlined
Still thinking about taking advantage of the First-time Buyer and Move-Up/Repeat Buyer tax credit? If so, an outline of the terms and conditions that need to be met to qualify can be found here. $8,000 First-time Home Buyer Tax Credit … Continue reading
Posted in Buyers, First time homebuyers, Mortgage/Financing
1 Comment
HUD Announces Changes to FHA Today
Earlier this week I reported that HUD would be making changes to FHA. Here is the HUD press release outlining the changes. WASHINGTON – Federal Housing Administration (FHA) Commissioner David Stevens today announced a set of policy changes to strengthen the … Continue reading
Posted in Buyers, First time homebuyers, Mortgage/Financing
Leave a comment
Additional Changes Planned for FHA
This week FHA will announce major changes to ensure its long term financial soundness. FHA is trying to balance three fundamental objectives: 1) financial soundness – ensuring that its capital ratio returns above 2 percent, 2) fulfilling its mission of … Continue reading
Posted in Buyers, First time homebuyers, Market Conditions
Leave a comment
New Good Faith Estimate and HUD-1
In my “What Is RESPA” blog post I mentioned that the US Department of Housing and Urban Development (HUD) was implementing significant revisions to the Good Faith Estimate (GFE) and the HUD Settlement Statement (HUD-1) in order to provide borrowers with … Continue reading
FHA lifts 90 days Seasoning Rule
On Friday, January 15th, 2010, the Department of Housing and Urban Development (HUD) announced that they are lifting the 90 days seasoning rule in order to “stabilize home values and improve conditions in communities where foreclosure activity is high. The waiver … Continue reading
1st Step to the Home Buying Process
I have been getting a lot of calls lately from prospective buyers that want to look at homes. One of the 1st questions I ask them is, “Will you be financing the purchase or will you be paying cash for the home?” If … Continue reading
Posted in Buyers, First time homebuyers, Mortgage/Financing
1 Comment
Should I get a home inspection?
A lot of the homes that are currently on the market in Arizona are short sales or REO’s (bank owned). This means they are being sold “As-Is” and the seller will not make any repairs. Buyers of these types of homes ask me as their realtor … Continue reading
Posted in Buyers, First time homebuyers, Foreclosure/Short Sales, Sellers
2 Comments
Distressed Seller Series, Part 2: Bank Owned, Lender Owned or REO Properties
Distressed Sellers Series, Part 1 addressed Short Sales. Today’s post is Part 2 in the Distressed Seller Series and will focus on Bank Owned, Lender Owned or REO Properties. I will define what these are, outline the sales process for these types of … Continue reading
