I discussed a recent article in the wall street journal that casts some light on why we won’t see an federal tax extension but also stress why it’s still a good time to buy a house.
Archive for the ‘first time home buyers’ Category
In this episode i explain the importance of not making large purchases on your credit card during the escrow period.
Hello everybody and welcome to another edition of the Reside Daily Bite; I’m your host, David Doucette and Happy Friday! It’s Friday, I’m always excited on Friday. Yesterday, I received a newsletter from the California Association of Realtors. They send out a newsletter once a week on Thursdays and they had a really good, simple, easy tip that I wanted to pass along specifically for home buyers.
In this episode, i discuss the value in seeking out free information.
Hello everybody and welcome to another episode of the Reside Daily Bite; I’m your host, David Doucette and I have to address the elephant in the room. Obviously I got my hair cut, about 30 minutes ago and actually it feels great although every time I go more and more, grey kind of falls on the little cape there. And the guy who cut my hair said they can fix that with this sort of flashback product that they have, but so far, the grey doesn’t bother me and I do subscribe to “Grey makes men more distinguished”. We’ll see if my subscription to that philosophy stays as time moves on. So, I just had to address that.
Then, I also want to talk about home owner education. First thing I want to mention is the first time homebuyer seminar that I’m doing here in our office/studio next Thursday, April 29 from 6:30 to 8:00 in the evening and I’ll have some wine and cheese. Mortgage broker, Dean Piller is going to be speaking about what a mortgage broker does. Heidi Smith from LA Citywide Escrow will be talking about the escrow process. The home inspector may or may not be able to make it that evening. And then, I’ll also be talking about what an agent does -completely free.
episode 009. 12 costs buyers should know about
- in this episode, i discuss 12 costs buyers should know about and take into consideration as they plan their budgets during the home buying process. you can click to read the complete yahoo news article.
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REAL ESTATE SERVICES: are you looking to purchase a home? i specialize in working with homebuyers and first time buyers on the westside of los angeles. contact me to schedule a free 45 minute buyer’s consultation. i can be reached at the studio at 310.391.9191 or firstname.lastname@example.org
the following was sent to me this afternoon from the California Association of Realtors’ “Realegal newsletter”. it essentially states the funds for the first-time homebuyer tax credit won’t be around for long. if you’re sitting on the fence about buying a home, you need to read this;
The $100 million allocated for California’s first-time homebuyer tax credits may be depleted in about 10 to 20 days or sooner, according to C.A.R.’s Economics team. California’s Franchise Tax Board (FTB) plans to begin accepting applications on May 1, 2010 for tax credits up to $10,000 for first-time homebuyers and for homes that have never been previously occupied. However, the total tax credit allocation for all taxpayers is $100 million for first-time homebuyers and $100 million for new homes, both on a first-come, first-served basis.
C.A.R.’s forecast of 10 to 20 days to deplete the $100 million allocation for first-time home buyers is based on estimated May sales figures and other parameters. It does not take into account the possibility that buyers scheduled to close escrow in April may delay closing until May to take advantage of the tax credit. If a shift in closings from April to May occurs, the first-time homebuyer tax credits may be depleted even more quickly than indicated above.
Applications for the California tax credit must be faxed to the FTB after escrow closes. The FTB will update its website when the 2010 application form and other information become available.
In this episode, i discuss an article i just recieved from california association of realtors‘ “realegal” newsletter. they are predicting the monies for the first-time homebuyer tax credit will be gone within 10-20 days and possibly sooner. if you’re sitting on the fence about buying a home, you need to watch this now.
In this video, I gave a quick overview of FHA loans.
Hello everybody and welcome to the Reside Daily Bite; I’m your host, David Doucette and today I want to talk to you a little bit about FHA loans and what all that means. The FHA or the Federal Housing Administration is a division of HUD and from their website I want to read a couple of things…
It’s part of the United States Department of Housing and Urban Development. FHA provides mortgage insurance on single-family, multifamily, manufactured homes and hospital loans made by FHA-approved lenders throughout the US. Borrowers obviously need to meet certain requirements to qualify for the insurance but lenders bear less risk because FHA will pay the lender if the homeowner defaults.
THIS IS AN IMPORTANT UPDATE TO RESIDE DAILY BITE 012.
PLEASE SEE RESIDE DAILY BITE 013 FOR AN UPDATE ON THIS VIDEO and how you may qualify for both tax credits. In this video, I incorrectly stated that it’s not possible to qualify for both but the California Association of Realtors just released information to show how it is possible and this is covered in episode 013.
In this video, I discuss and compare the federal home buyer tax credit with the California home buyer tax credit. Be sure to consult with your tax attorney or CPA to find out if the tax credits apply to you.
In this episode, I’m joined by my favorite mortgage broker, Dean Piller. Dean came to the office today to record “The Reside Realtor Online Radio Show” and it gave me the idea to introduce Dean to the Reside Daily Bite crowd.
We briefly talk about the upcoming radio show in which we talk about “The Cost of Waiting” to purchase a home. The federal tax credit is set to expire, FHA may be raising the downpayment requirements, private mortgage insurance will be increasing, interest rates will be going up, and home values may be rising. This is a great episode for those of you sitting on the fence. You can listen by clicking episode 006. — The Cost of Waiting.