Contact Team Annett: (p) 513-527-3060 (e) teamannett@gmail.com
Everyone has been asking, “Do you think the $8,000 tax credit will be extended again?”. Below is a recent email that was sent to all Ohio Real Estate agents this past week regarding the question at hand.
Today’s real estate market presents an excellent opportunity for all types of homebuyers including those who are choosing to go it alone. Be it single professionals or single-parent families, about 30 percent of recent homebuyers were either single women or men according to the National Association of Realtors. With a variety of home styles, affordable home prices and tax credits from the government, single buyers have strong incentives to make their move into the housing market.
Article below is from 2010 – for a more updated approach to the 2012 Welcome Home Grant, click here to see updated details.
Sellers who get more than one offer should be aware that the highest offer isn’t necessarily the best offer, say experienced practitioners.
Beginning April 4, 2010, FHA will raise its upfront Mortgage Insurance from 1.75% to 2.25%. Other discussions taking place – decrease seller concessions from 6% to 3%. If you need an FHA loan, start looking in earnest for a home before the increase takes place. FHA is looking for ways to increase their income, and have a congressional mandate to have a certain percentage of funds in reserves. We will likely see them make more changes that will toughen the requirements and make their loans more expensive this year. Stay tuned!
Interest rates are likely to rise to 6% by the end of 2010,predicted Amy Crews Cutts, deputy chief economist at Freddie Mac.
You are Invited!
The $8,000 Tax Credit deadline is quickly approaching (April 30th) . Are you ready to buy?
Home Buyer’s Seminar – Hyde Park Panera, Feb 16th, 7:30-8:30 am
Mortgage interest rates are low right now, but don’t expect that to last. When the government quits buying mortgage-backed securities, rates will head up and away.
The Federal Housing Administration has announced a set of policy changes on Wednesday that will effect purchasers.
Given the success of the first-time home buyer tax credit and its extension into 2010, the National Association of Realtors is forecasting that existing home sales will jump 13.6% in 2010 after a 2% increase in 2009.
