Obama’s Stimulus Package Offers First Time Home Buyers Huge Benefits!

26. May 2011 · Write a comment · Categories: General Tax · Tags: , , , , , , , , ,

If you’ve been following the news, you are likely familiar with the federal government’s 0-900 billion stimulus package designed to boost the economy by creating new jobs, providing mortgage assistance, educational grants, and a suite of other incentives.  A key part of this package is the first time home buyer stimulus program aimed at reviving the ailing housing market by assisting first time home buyers and buyers who haven’t purchased a home in the last three years.  The incentives for those qualifying under this program are such that even those previously opposed to buying a home in this market are now changing their minds.

The main reason the first time home buyer stimulus package is so attractive is that it directly addresses the concerns that most people have about buying a new home.  The first concern that most people have is how they will come up with the down payment.  After all, you must have a considerable sum of money saved away in order to come up with a ten percent down payment.  Thanks to the stimulus package, however, the federal government will help first time buyers by paying a percentage of the down payment.  In other words, you do not have to come up with the full amount on your own.  The second worry is the dreaded interest that accompanies monthly mortgage payments.  There is good news here as well as the federal government has cut interest rates.  Thirdly, those qualifying as first time home buyers can apply for refundable tax credit of ten percent of the purchase price of their homes (up to ,000) if they enter into a binding agreement by April 30th of next year.  This is practically money in your pocket which you do not have to pay back unless you decide to sell or move out of your home within the first three years.

With all these benefits, no wonder more and more people are getting exciting about buying a new home in these tough economic times.  These incentives will not last forever so if you have a steady source of income and are serious about owning your own home, now is the time to act.

Existing Home Sales Are Down Nationwide

25. May 2011 · Write a comment · Categories: General Tax · Tags: , , , ,

Existing Home Sales Are Down Nationwide

Free Online Articles Directory

Why Submit Articles?
Top Authors
Top Articles
FAQ
ABAnswers

Publish Article

0 && $ .browser.msie ) {
var ie_version = parseInt($ .browser.version);
if(ie_version Login

Login via

Register
Hello
My Home
Sign Out

Email

Password


Remember me?
Lost Password?

Home Page > Finance > Real Estate > Existing Home Sales Are Down Nationwide

Categories
AdvertisingArts & EntertainmentAutomotiveBeautyBusinessCareersComputersEducationFinanceFood and BeverageHealthHobbiesHome and FamilyHome ImprovementInternetLawMarketingNews and SocietyRelationshipsSelf ImprovementShoppingSpiritualitySports and FitnessTechnologyTravelWriting

Existing Home Sales Are Down Nationwide

By: Paul Escobedo
Posted: Sep 20, 2010

]]>

The sale of existing homes fell to its lowest point in over a decade. According to the National Association of Realtors, the sale of existing homes fell 27.2% from June to July. That drops the seasonally adjusted annual sales rate to 3.83 million, which is the lowest figure recorded since the Association started keeping track in 1999.

 

A drop was expected following the expiration of the federal government’s tax credit for homebuyers. The credit enticed buyers by offering up to an ,000 credit on the purchase of a new home. Still, the predictions never posted numbers this low.

 

Economists worry that we will soon be hit by a decline in home values because of the low sales volume and increase in inventory. July has shown us an inventory on the market of unsold homes increased by 2.5% from June to July and at the current sales pace, that gives us a 12.5 month inventory. That is another record figure for the last decade.

Read more articles
Southern California May Sales rise as Median Price Edges over 0K
Home Mortgage FAQ
What Economic Recovery? What Economic Recession?
Chain Reactions of Bursing the Housing Bubble

 

A distressing problem is the number of bank-owned properties that are now hitting the market. According to Zelman & Associates, bank-owned listings increased 12% for the month of August when compared to July. This will most likely affect home prices soon.

 

Despite record low interest rates and affordable home prices, sales have continued to drop. Many analysts believe that if mortgage rates were not below 4.5% we would see much lower sales figures. Mortgage rates are hitting 50 year lows. According to Freddie Mac, mortgage rates for the week ending August 26th were at 4.36% and 3.86% respectively for a 30-year fixed-rate 15-year fixed-rate mortgage.

The median home sale price dropped 0.2% from June to July to 2,600. That figure is 0.7% higher than one year ago. However, growing inventories and low sales will likely lead to a decrease in home values over the next year.

Paul Escobedo – About the Author:

Take a look at our Dallas new homes and Fort Worth new homes brought to you by some of the top Texas home builders in state today.

Source: http://www.articlesbase.com/real-estate-articles/existing-home-sales-are-down-nationwide-3304305.html

]]>

Increase your traffic today just by submitting articles with us, click here to get started.

Liked this article? Click here to publish it on your website or blog, it’s free and easy!

Rate this Article

1
2
3
4
5

vote(s)
0 vote(s)

Feedback
Print

0) {
ch_selected = Math.floor(Math.random()*ch_queries.length);
if(ch_selected == ch_queries.length) ch_selected–;
ch_query = ch_queries[ch_selected];
}
}catch(e){
ch_query = document.title;
}
]]>

Article Tags:
sale of existing homes, federal tax credit, decline in home values, median home price, home sales

Latest Real Estate Articles
More from Paul Escobedo

Stemming the Tide of Homeless People

Governments have not been able to keep up with the growing need for infrastructure and affordable housing to keep pace with current demands. Immigration numbers are outstripping accommodation availability and more needs to be done to address the situation.

By: realestateSydney

Finance >
Real Estate
May 25, 2011

How to Produce a Financial Savings Intend to Help You Buy the Home You Need

When individuals take into consideration purchasing a house, it’s really a whole lot easier to commit to the idea of a month-to-month responsibility that you have to fulfill in terms of paying for the main taxes as well as insurance. It’s really a lot a smaller amount simpler to consider that large up front cost: the actual downpayment. Some individuals find it hard to see how they could cut-back thousands of money to create sufficient (or even adequate) downpayment for your residence.

By: Margaret Santino

Finance >
Real Estate
May 25, 2011

Important Points Should Be Taken Into Account For Searching Rental Homes

This article provides the useful points which every individual should take into account while searching for the rental houses.

By: Sharon Lee

Finance >
Real Estate
May 25, 2011

Inner-West Property Manager reveals six tips for buying a great home at a great price

Buying a new house is one of the biggest investments a person will make in their lifetime. With climbing interest rates and supposedly one of the most over-priced markets in the world, Sydney home-buyers are constantly on the look out for ways to get a bargain.

By: Ian Comnys

Finance >
Real Estate
May 25, 2011

Compass Heights for Rent – Ease and Convenience Rolled Into One

Situated at the Sengkang District in Singapore, Compass Heights for rent provides condominium units for singles, couples, or transients who want to experience ease and convenience amidst the hustle and the bustle of the big city. Sengkang District or what others might call it as District 19 is one of the busiest districts in Singapore. It is a suburban town famous for its sports facilities, shopping malls and parks.

By: Vincent Lim

Finance >
Real Estate
May 25, 2011

Mortgage Rates Hit Above the Predicted 5% Mark

For the last half of 2010, analysts predicted that the 30-year mortgage rate would hit above 5% during early 2011 and steady somewhere below 6% by the end of 2011. That prediction has come to pass when recently the average on a 30-year fixed rate mortgage jumped to 5.05% for the week ending Thursday February 10.

By: Paul Escobedo

Finance >
Real Estate
Feb 24, 2011

New Home Sales Increased for the Month of December

New home sales across the nation increased significantly for the month of December 2010 when compared to the previous month. Even December’s positive numbers leave 2010 the worst year on record for new home sales since the housing bubble burst.

By: Paul Escobedo

Finance >
Real Estate
Feb 24, 2011

Design Consistency Is a Must

If you are going to have a design you must make sure that it is consistent throughout the whole home. You must make sure your design is consistent.

By: Paul Escobedo

Home Improvement >
Interior Design

Pages: 1 2

Steps for Home buyers purchase first home

23. May 2011 · Write a comment · Categories: General Tax · Tags: , , , ,

Buy your dream home is as easy as ABC. Follow these simple steps. It may be months or even years ready to buy, not get discouraged, just work on it every day. Once you move into your new home, it will be worth all the planning and preparation! So, just to stay focused on your goal and persistent.

A. Prepare for the purchase:

Before Writing your family financial goals (short and long term). For example: Buy a housewithin one year; Be debt free within 10 years.

http://www.firsttimehomebuyerloans.goodarticlesite.com/steps-for-home-buyers-purchase-first-home/

According to Prepare a monthly household budget. Your monthly debts (including car payments, child support, and payments by credit card) should be 10-15% of your gross monthly income. Contact your Financial Planner for their support.

Third Update your credit report. Make all loan payments on time for at least six months. Agreements to settle all open meetings of factors such as depreciation or student loans defaulted.

FourthEliminate consumer debt. Do not buy a car or other major purchase on credit.

B. Pre Sales TIME:

Before you fill in the form of loan application (1003) and in turn to your lender with the tax credit check (usually about $ 25 per person).

Follow with a second agent will receive a letter of loan pre-qualification by the lender.

Third contact your broker ®, pre-qualified for homes in your price researchSpectrum.

® See Fourth with your estate agent and find the best holiday for your family.

Your Realtor ® Fifth bids to buy a house. Your offer will be from your deposit deposit (usually $ 1,000 or more to be accompanied).

Negotiate a sale price

Negotiate a sale begins when you make a bid for the home. Depending on the market, this is usually less than the price the seller. The seller may accept, reject or ignorethe first offer. It can also be a counter offer, which is a grant to meet the price offered by your-way lower.

Remember, there are two parts, an ‘offer: price and terms. So if you do not agree on price, perhaps you can provide conditions that help both parties reach an agreement. There is an old saying in real estate transactions, “they call the price, and I name the terms,” which means that both are important parts of the offer.

After the firstcounter-offer, the buyer and the seller may pass through a series of counter offers, to reach a sale price (if everyone agrees). This means distributing, or the gap between list price and the first bid is close. Armed with assessment and report, can provide effective information and negotiate a final sales price.

http://www.firsttimehomebuyerloans.goodarticlesite.com/steps-for-home-buyers-purchase-first-home/

Improve Your Home by Replacing Windows

22. May 2011 · Write a comment · Categories: General Tax · Tags: , , ,

There are many excellent investments you can make in your home through home improvement projects. Remodeling the kitchen, updating the bathroom, and painting the walls to brighten up the whole house are all projects that add value to your home. Did you know that the best way to improve your home is through home windows replacement in San Francisco? Professionals agree that your home value and curb appeal can be greatly improved through window replacement. It has been shown that people can receive up to approximately 75% back on this investment.
Most of the challenges with old windows occur because they have been around for a long time. The materials used in them age and are affected by weather. For instance, old caulking can break away or shrink, which leaves the windows loose. Wooden window frames can warp after years of weather damage, and may cause windows to stick or become drafty. Home windows replacement in San Francisco allows one to replace these aging beauties with their modern daughters. Modern advances in technology have given new windows the advantage in beauty, strength and energy efficiency. Old windows have served their purpose, but can no longer meet the energy efficiency needs of today’s families. Modern windows can save you upwards of 30% on your yearly energy costs. This is a savings that you can’t let go by for another year. You can also receive a government tax rebate of up to 00 for making energy saving home improvements.
As you contemplate your home windows replacement in San Francisco project, you may wonder where to find answers to your questions. Home improvement centers and others offer in-home evaluations by a windows design consultant. Your design consultant is well-versed in all the new windows and can walk you through each step of your home windows replacement in San Francisco. He will work with you to measure your existing windows and pinpoint any challenges that may pop up with removing the old windows. He will show you the new types of windows and assist you to determine which ones best fit in which openings. Your design consultant can also show you samples of the different frame types so you can see which matches your home exterior the best. Working with your specialist, you can get a better feel for which grid style you want or you can even mix and match grid sizes for optimal customization. Last but not least is the array of colors available to you. With all of these options, customizing your home windows replacement in San Francisco will be a snap.
Your windows design consultant can also provide you with a cost estimate for the job. This will help you to compare costs with other companies. You definitely want a great initial price, but you also need to make sure that you go with an experienced company. Professional installers who have performed hundreds of home windows replacement in San Francisco will know exactly what your house needs. They will be courteous and helpful. If the experienced company also offers a satisfaction guarantee, you know you won’t be disappointed. You will really enjoy the beauty and energy savings that your new windows will provide.
home windows replacement san francisco

Saving Strength In your Home & Decreasing Bills

21. May 2011 · Write a comment · Categories: General Tax · Tags: , , , ,

All throughout Denver house owners are turning into ever a lot more conscious of the need to have to conserve strength. For some individuals the require to install substitute windows into Colorado houses has led them to the lower costs of power that is saved by dual paned minimal E glass that is protected by a barrier of argon gasoline. Making sure that the seals around the framing are correctly insulated against draughts the citizens of Colorado are assisting to decrease warmth loss inside their house that translates to a savings on their utility bills.

In a couple of households solar panels are being placed on the southward facing roofs to cut the dependence of the house owner on the electric business. harnessing the renewable power that is given freely by the sun, these property owners are in a position to get rid of their electrical energy bill completely and in some cases sell their excess vitality back again to the power organization. In an effort to lower green home emissions and limit their reliance on the earth’s resources people today all through Colorado are swapping out their old draughty home windows for the much better fitted and much more economical minimal E alternative windows. Colorado homeowners that have already created the alter to the home windows are seeing that their households are far more vitality economical and that they are making use of much less energy to heat their home in winter and maintain it cool in the course of the summer time.

One more way to save cash is installing replacement windows in your property. Vinyl home windows are cost-effective, vitality environment friendly and add value to your house. A nice issue about replacing windows is the government gives tax rebates for acquiring vitality economical rated vinyl windows.

With the conscious efforts of folks in the course of the city becoming turned toward conservation and the use of alternative strength for their households, Colorado is on its way to starting to be 1 of Mother Earth’s most environmentally friendly locations. For the home owners that are concerned about lowering their utility costs the inclusion of electricity saving home windows and self enough solar panels is helping a lot of families to decrease their carbon foot print even though putting much more funds again into their pocket. By looking for approaches to minimize their dependence on electrical energy and save dollars on natural fuel home owners in Colorado are changing into an example to other home owners across the US.

« Older articles