Fannie Mae EXTENDS Popular Closing Cost Assistance Program!
Welcome Back Readers! It’s been a hugely busy month for me in real estate, with the end of the Federal Tax Credit for Homebuyers the Lancaster County real estate market has warmed up with the spring! Even as we close the door on the tax credit, there are many, many other incentives still available for buyers though as we proceed through summer. For example, I wrote a post a few months ago about Fannie Mae offering 3.5% closing costs assistance/appliance... Read More
It Isn’t a Question of “If” Waiting Will Cost You, but Rather “How Much?”
Waiting. Sometimes a wise strategy, sometimes a foolish one. When it comes to home buying, waiting will surely cost you. There are a number of reasons why, but before I go into that, let’s get one thing clear…. if you aren’t in a positions to buy, if you truly can’t afford it, don’t do it. But if you are unsure, if you are “thinking about it”, if you are planning to “start looking” in... Read More
HUD Secretary Donovan woke up this morning and got himself a gun……
… and he plans to use it to take out the US Housing Market! I know, very dramatic. Maybe even a little uncalled for. On the other hand, there is really no other way to describe how potentially dangerous the policy changes that HUD Secretary Donovan is proposing this week. What are those changes? Read More Read More
It’s Back! PHFA Allows Buyers to use the First Time/Repeat Buyer Tax Credit to Close!
It’s official! Today, Pennsylvania Housing Finance Agency (PHFA) announced that it has allocated funding in the amount of $5,000,000 for the continuation of their Tax Credit Advance (TCA) program! This is a limited time offer, so take note, once they run out of money it will be too late, so you need to move now if you want to take advantage of it! Read further for details! Read More Read More
A Whole New World – Why the New and Expanded Tax Credit May Save the US Economy!
This past Friday, President Obama signed into law H.R. 3548. This bill, at it’s heart a bill to extend unemployment benefits {which, by the way, is being completely overlooked as the critical step it was to help the unemployed workers in this country, but that’s a topic for another day (see, I’m overlooking it too!)} contained a roundly supported amendment to Extend and Expand the First Time Home Buyer Tax Credit that was set... Read More
Home Buyer Tax Credit Passes House 403-12!
With a quick and resounding “Yes” vote, the House today passed HR3548, extending and expanding the Home Buyer Tax Credit! All we need now is for President Obama to sign the bill into law! Read More Read More
Home Buyer Tax Credit Passes Senate 98-0!
The Senate voted today 98-0 to pass the HR 3548. HR 3548 is a bill that extends unemployment benefits for an additional 20 weeks and contains an amendment that extends the existing $8,000 First Time Buyer Tax Credit and adding a tax credit for Move Up buyers! Read More Read More
Extending the Home Buyer Tax Credit – So Close, Yet So Far Away
Here is the headline from the AP Story that ran yesterday “Senators agree to extend homebuyer tax credit”. Look spretty good, doesn’t it? Reading that, you would think we were in the clear, tax credits for everyone! Well, I hate to rain on everyone’s parade, but we still have a long way to go. Think of this process like looking at the moon through a telescope, it’s there, you can see every detail, you almost... Read More
