Congress has passed a bill allowing first time buyers additional time to close. The contracts had to be acepted prior to midnight April 30th,2010. But the closing and funding of those purchases have been extended.
There is money available from different sources for lots that are "developed" meaning there are curbs and gutters, utilities in place. These sources require a substantial down payment but there is money available.
We are at an historic moment for home buying.
Inventory is high and so prices are low .
At the same time interest rates are still extremely low. There is no way to know which of these will change first but past history teaches us that one or more of these factors is due to change.
We are coming up on a first time home buyer tax credit, time crunch. There are 20 days from today to get a home under contract that must close and fund by June 30, 2010.
The first time home buyer , has not owned a home for the past three years, or has never owned a home and is eligible for a tax credit of up to 8%.
Home owners who have lived 5 of the last 8 years in their primary residence ...
First time buyers will be seeing new costs on future FHA loans and would be wise not to delay their house hunt.
Tax incentives make buying now a good idea for the first time buyer who is thinking of making a purchase with in the next 2 years.
Interest rates are at a low point that has not been seen in over 40 years.
There are homes on the market at prices below their replacement cost and that are in "move in" condition.
Neighborhoods and price ranges are different all over Albuquerque. Certain features are ...
Use this link to get the brochure from The attorney generals office in Santa Fe/
www.http://nmag.gov/pdf/ecu%20trifold.pdf
The first time buyer credit has been extended .
The contract must be entered into by April 30th 2010 with the closing being by the end of June 2010.
There also is a $6500 credit for move up buyers who have been in their homes 5 of the last 8 years.
Adrian Rogers wisdom
http://randallmelchert.com/2009/07/11/adrian-rogers-on-prosperity/
For the first time buyer time is getting shorter than they realize.
As of this time the tax credit expires and homes must be "funded" by November 30th. In New Mexico there is a closing and hopefully the funding is the following day. The bank gets the documents from the closing and has a chance to re examine them. If everything has gone well they release the funds and we have "funding".
There is a ...
