Pat Maher - Blog

First time buyer tax credit extension

pat.maher@coldwellbankerlegacy.com — Thu, 01 Jul 2010 15:34:52 GMT

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.

Loans are available for developed lots again

pat.maher@coldwellbankerlegacy.com — Tue, 22 Jun 2010 12:10:55 GMT

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.

Time to buy still.

pat.maher@coldwellbankerlegacy.com — Sat, 08 May 2010 23:41:39 GMT

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.

Home buyer tax credit

pat.maher@coldwellbankerlegacy.com — Sat, 10 Apr 2010 15:01:23 GMT

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 and are buying a new primary residence qualify for a credit of up to $6500.