an ongoing conversation place for everything real estate

So how in the world can 40% of the nation’s homeowners NOT make an on-time mortgage payment last month? Well, it’s simple. What I haven’t mentioned yet is that according to the US Census Bureau’s American Housing Survey released in late 2008, approximately 34% of American Homeowners own their home “free and clear” with no mortgage payment due… Hmmm.

Tagged Under : Buying Houses, home ownership, Omaha Market Update, tax credit

THIS MIGHT BE THE VERY BEST TIME TO BUY OR SELL REAL ESTATE PROPERTY IN HISTORY!!
Why?
Significant government stimulus practices will be running out soon and could negatively affect interest rates, so time is quickly running out to get into the game!
By now you have heard the $8000 First Time Home Buyer and the $6500 Existing Home [...]

Tagged Under : Buying Houses, Mortgage, Mortgage Interest Rates

According to current FHA guidelines, if you want to utilize FHA Financing, you are prohibited from doing so if the property you are purchasing has not been in title for 90 days with the current seller.
In my opinion, if a property is sound, meets all inspections, and appraises at or above purchase price any FHA [...]

Tagged Under : Mortgage

Did you know that members of the military and certain other federal employees have additional tax credit benefits?
Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter [...]

Tagged Under : 6500 tax credit, 8000 tax credit, Buying Houses, Mortgage

CBSHOME Real Estate has partnered with David Knox, a top sales trainer and keynote real estate speaker, to bring you more information regarding the Extended Home Buyer Tax Credit(s) that are currently available.
Please enjoy this video and contact a CBSHOME Real Estate sales associate to begin your home search today!

Tagged Under : 6500 tax credit, 8000 tax credit, Buying Houses, tax credit

Many people look to their neighbors’ homes to see what they sold for when they estimate what value their home may appraise for. However, that is just one of the pieces of the appraisal puzzle.
Here are some of the factors that are considered when determining value:
· Incentives and concessions. Most of today’s buyers expect to [...]

Tagged Under : Home Selling Tips, Selling Houses

11. By selling now, you may have an opportunity to be a non-contingent buyer
during the spring, when many more houses are on the market for less money!
10. You can sell now for more money and we will provide for a delayed closing or
extended occupancy until early next year!
9. Even though your house will be on [...]

Tagged Under : Selling Houses

As Obama’s Administration tries to grasp the economic and housing problems, there is a new player in the game of short sales.  The US Treasury is acting like a referee in a game where the offense (sellers) and the defense (lenders) are not even on the same playing field.  The Treasury announced new guidelines for short sales on November 30th in an [...]

Tagged Under : Buying Houses, Mortgage, Selling Houses, Short Sales

What Exactly is an APR?
Annual Percentage Rate (APR) is a way to compare the costs of a loan. Although it’s not perfect, it gives you a nice standard for comparing the percentage costs on different loans. This page covers the basics of APR, and how you can calculate it.
Why Use APR?
Loans can be confusing. Slick lenders [...]

Tagged Under : financing a home, loans, Mortgage

FHA’s mortgage insurance reserves have dropped far below congressionally-mandated levels, but the agency still has enough of a financial cushion to handle all expected loan losses for the next 30 years, with a multi-billion dollar surplus beyond that.
Officials say there should be no need for congressional appropriations or a Treasury bailout of FHA, and no [...]

Tagged Under : Mortgage

A short sale is simply a method for a distressed homeowner to sell their home, avoid foreclosure and thereby potentially limit their credit score damage. If you are a homeowner facing the possibility of foreclosure then you should look into a short sale listing to avoid it. If you decide on a short sale it [...]

Tagged Under : Buying Houses, Selling Houses

Everything is looking more promising that the extension and new provisions as noted below will be passed by the Senate and the House possibly by weeks end.  The President has stated that in its current form he will sign the legislation.  I assume the concession on the combined income from $300,000  then to $250,000, to now [...]

Tagged Under : 8000 tax credit, Buying Houses, financing a home, first time home buyers

I have the pleasure of serving the Realtors of Nebraska as a Director at  the National Association of Realtors.  There has been a flurry of activity the last 48 hours pertaining to the potential extension of the First Time Home Buyers Tax Credit as well as an adjustment to whom the updated legislation would apply.  The [...]

Tagged Under : 8000 tax credit, Buying Houses, first-time buyers

According to the FBI, mortgage related schemes are up 173% from last year.  Attempts to scam people out of their money is nothing new, however scammers are becoming more sophisticated.  Learning how to spot scams can help you prevent becoming their next victim.
Top Six Scams
Mortgage Fraud- these scams contain some type of material misstatement, misrepresentation, [...]

Tagged Under : home safety, identity theft, Mortgage

Only 45 days left to make offer, negotiate, and take your dream home to closing. November 30th is the magic day, however Thanksgiving weekend falls inline with the deadline so you should really be closing on the 23rd or 24th to avoid potential delays and forfeiting your $8000 tax credit! Make sure you are being [...]

Tagged Under : 8000 tax credit, Mortgage, tax credit

Ok – we all know about it, we may even be tired of hearing and reading about it, but let’s face it, if you know someone who would benefit from the $8000 tax credit,  now is the time to act.  We have been chanting the mantra about  the tax credit since 2008 and now is [...]

Tagged Under : Buying Houses, financing a home, first-time buyers, Mortgage

Why buy or list a home in 2009 compared to 2010?

As you can read from other blogs the importance of the first time homebuyer tax credit expiring Dec 1st of 2009.  Many people do not realize what is going to happen to mortgage interest rates after December.  The Federal Reserve announced on November 25th, 2008 [...]

Tagged Under : financing a home, Mortgage

Time is running out for homebuyers, who must close by November 30, 2009. The government’s $8,000 tax credit for first-time homebuyers has been extremely successful, but time is running out to capitalize on this unique opportunity.
The tax credit, available for first-time homebuyers, as well as to individuals who have not owned a principal residence in [...]

Tagged Under : first-time buyers, homebuyers, HomeServices of America, tax credit

Most people do not realize how easy it is to become a victim of identity theft.  Having been a victim myself, I feel it is important to educate others on what you should be doing…or not doing, to protect your identity.
What Should I Do To Avoid Becoming A Victim Of Identity Theft?
To reduce or minimize [...]

Tagged Under : home safety, identity theft

Now would be a fantastic time to take full advantage of shopping for your first home. The Goverment deadline for qualifying for your First Time Home Buyer Tax Credit is before December 1, 2009. This means that you would have to have your home bought and closed by this date in order to qualify for the [...]