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Real Estate News
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"A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid." - www.federalhousingtaxcredit.com
You only have a limited amount of time to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible.
- The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
- The tax credit does not have to be repaid.
- The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
- The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
- Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
 Visit www.federalhousingtaxcredit.com for more information and be sure to read the frequently asked questions page.
Other information sources are: Wiki and The White House |
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Real Estate Article
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from wikiHow - The How to Manual That You Can Edit
Steps to take when looking for a real estate agent.
Steps
- Meet agents out in their working environment, not in their offices. Good agents spend very little time at their desks.
- A good place to meet agents is at open houses. Don't worry that you are not interested in that particular property. The agent knows that open houses rarely produce a buyer for that home.
- Another good method is to contact the agent with whom a friend or relative worked. If this agent produced positive results for a friend of yours, there's a good chance s/he will do the same for you.
- Interview a couple agents. Whether you are looking for a buyer agent or seller agent
- Look for signs that the agent is busy. A hard-working, go-getter of an agent is what you want. But if you feel slighted, like if your agent spends most of his time with you on his cellphone with another customer, find a different agent.Or if he / she passes you on to an "assistant" it means the agent you hired is not the one who is going to be working with you along the line.
- It is important that your agent is knowledgeable. Ask questions about things you have learned through your new-found interest in real estate. If she doesn't know substantially more than you - after all, this is her livelihood! - go on to another prospective agent. Local knowledge is particularly critical.
- A good agent is important to you when buying a home for the first time. She should be able to guide you through the mire of paperwork and lenders that you will have to wade through.
- View the agent website and see how he/she is using content to market themselves.
- See how the agent and the brokerage come up in search listings with Google and Yahoo for your neighborhood and look at their online listings of other properties.
- Check her references that she should provide in your first interview.
- Ask your agent where they live. An agent that lives and works locally will have his / her finger on the pulse of the market and be able to answer important questions about the community.
- Ask "Can you recommend service providers who can assist me in obtaining a mortgage, making repairs on my home, and other things I need done?" Keep in mind here that REALTORS should generally recommend more than one provider and should tell you if they receive any compensation from any provider.
- Ask how long s/he has been a realtor. It is not that newer agents aren't capable. It just is a fact you should know to factor in to make an informed decision. Many "experienced" agents are not always the best choice either. Especially if they haven't kept up with technology.
- Ask the agent if s/he is a full time agent. Is this her only job? You don't want to timeshare.
- Ask Who the agent is working for in the transaction, the buyer or the seller.
- Ask "How will you keep me informed about the progress of my transaction? How frequently?" Using what media? Again, this is not a question with a correct answer, but that one reflects your desires.
- TIPS:
- Don't expect an agent to call you instantly when you leave a message.
- Expect that she will call you back in a reasonable amount of time when she has results or knows the answer.
- Don't call your agent after hours, past 7 pm or so. She has a life too.
- This is your most important transaction of your life, she does this everyday. Try not to become so emotional about every little thing.
- Your house / or the house you are buying is a commodity try not to become too emotionally invested in it.
Related wikiHows
Sources and Citations
Article provided by wikiHow, a collaborative writing project to build the world's largest, highest quality how-to manual. Please edit this article and find author credits at the original wikiHow article on How to Find a Good Real Estate Agent. All content on wikiHow can be shared under a Creative Commons license.
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Real Estate News
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How To Use The Search Tool... I wrote the guide to using the local MLS search tools a few years ago. Its still a good place to strart and will help you get the results you want faster with less frustation. |
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Real Estate News
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Daily Real Estate News | July 30, 2008 President Signs Housing Rescue Bill
President George W. Bush signed into law a bipartisan housing stimulus bill Wednesday that is expected to bring greater stability to housing markets nationwide.
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Real Estate Article
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This article was intended for Real Estate Agents, but I think many buyers and sellers will find this information useful. Real Estate Glossary
By Anirban Bhattacharya Real estate industry is one of the most growing industries in the world, providing more opportunities by opening new avenues of success. If you want to accomplish a name in real estate market, it is important to know about the basic glossary used in this particular industry. Brushing up the glossary knowledge will help you to understand the real estate news in a better manner. Let us take up a look on the following important terms: - Amenity: It is an additional feature of the home or that may benefit the buyer such as its natural location, woods, swimming pool or garden.
- Amortization: It is process of repayment of a mortgage loan in monthly installments that include principal and interest.
- Annual Percentage Rate (APR): It is calculated by using a formula. Usually, the APR defines the cost of a loan; taking the yearly interest rate, insurance cost and other fees in consideration.
- Application: Application signifies the initial official step in the loan approval process. In application, an applicant needs to disclose the necessary information to get the desired loan money.
- Appraisal: It is a kind of document that reveals the estimated price of a property in current market scenario.
- Appraiser: a professional and qualified person who estimate the market value of the proposed property through his or her experience and knowledge.
- ARM: Also known as Adjustable Rate Mortgage; it is a kind of a flexible mortgage loan the interest rate of which is subject to change with rate changes.
- Assessor: An assessor is a government official who determines the market value of the proposed property.
- Assumable mortgage: It is a type of mortgage that can be transferred from a seller to a buyer; once the loan is assumed by the buyer. A buyer no longer is responsible for repaying the loan amount after assumable mortgage.
Myself webmaster of http://www.real-estate-directories.com which is a real estate directory & guide that provide all information related to real estate in various areas like real estate listing, real estate legal, real estate agencies and more. Article Source: http://EzineArticles.com/?expert=Anirban_Bhattacharya
http://EzineArticles.com/?Real-Estate-Glossary&id=1337240 |
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