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FAQ

Look for a surge in sales or resale before April 30th

March 15, 2010

In case you’ve fasting TV or maybe in a winter hibernation, there’s a little thing called a tax credit right now that is fueling a lot of sales.  In fact, it might be too effective because it’s pulling buyers from the future to buy now.
Just a recap for those that are still lost:

$8,000 tax credit [...]

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If I buy a home with an FHA loan, is the 3.5% down part of the closing costs?

December 29, 2009

I saw this question on a community website and answered it and thought it might be good to share with others.  Here’s what I wrote:
It’s easier to look at an example I think. 
Say you are buying a home for $100,000. 
It will cost you about $3,500 in closing costs to get a loan for this home. [...]

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Home Buyer Tax Credit 2010 FAQ

November 10, 2009

Question: Must the new house cost more than the old house?
Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit.

Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase [...]

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Buyer’s Delight – Tax Credit Additions | Extensions

Home Buyer Tax Credit November 9, 2009

If you were buying a home and rushing to close by Nov. 30th, you can now breathe a sigh of relief.  Let’s go over what’s happened and the rationale.

First Time Home buyer tax credit of $8,000 extended to April 30th, 2010 – NEW WRINKLES

If you are under contract by the 30th, you can still get [...]

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Georgia Home Buying Guide Intro Video

November 5, 2009

Be sure to check back for the next update in this series and process!
<<Table of Contents>>                                                  <<Step One>>

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$99 A Month for 12 Months – Not a Gimmick Thanks to $8,000 Tax Credit

8000 tax credit June 30, 2009

You might have read the headline and thought, oh no!  This is another one of those funky loans that change over time.  Nope.  It’s not a special loan, it’s another way to think about the $8,000 tax credit.  If you take a $125,000 home’s payment of roughly $750.00 a month at 6% interest rate (fixed [...]

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Sales Are Up 29% From Last Month | Real Estate Market Condition Report May 2009

May 16, 2009

Buying opportunities abound for value-savvy home shoppers in select markets across the nation, where prices have fallen to 2003 levels. While home prices are still declining on a year over year basis, they are falling at the slowest rate in five months, which indicates a degree of stabilization compared to recent months.
Attractive prices, [...]

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Fannie Mae Policies On Short Sale Through Foreclosure

January 27, 2009

I often get asked about the difference between the impact of a short sale and a foreclosures.
Here is a summary of Fannie Mae loan policies that went into affect on August 1, 2008.  This represents the time period that must elapse before borrowers can demonstrate they have reestablished an acceptable credit history after the occurrence of the bankruptcy [...]

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How do I find homes on the market that have assumable mortgages?

January 7, 2009

This question came from a buyer and I thought I should share it publicly.
How do I find homes on the market that have assumable mortgages?
You can actually have your agent do a search for them through the MLS. However, most agents are so inept at even understanding if something is assumable and how the process [...]

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Do Builder Incentive Affect Value?

January 1, 2009

It’s a common question and an even more common problem in today’s real estate market.  Competing with the builder to sell your home.  Knowing the builder’s position and promotions will give you a lot of information on how you should approach the sell of your home.
First things first, let’s do the short answer:
Do Builder [...]

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