First Time Buyers 
Information to help first time buyers through the process of buying a their first home
There are currently 7 blog entries related to this category.
Puyallup Real Estate Update
Friday, December 11th, 2009 at 7:17pm. 121 Views, 0 Comments.
Puyallup Real Estate
Market Update
Good News for Puyallup Home Sellers
Puyallup continues to show signs of life for potential home sellers hoping to take advantage of the current market and upgrade to a larger home. Puyallup home owners priced correctly in the $250,000 and under price range have a unique opportunity to sell their homes quickly and become a coveted "move up buyer" in the higher price ranges. While good quality, well priced, single family homes are selling briskly under $250,000 the higher price ranges are still loaded with great values. Many of these potential "move up" buyers will also benefit from the $6,500 tax credit as well. If your family has outgrown your current home, you might want to explore your options.
Puyallup South…
Foreclosed Home Search
Saturday, October 24th, 2009 at 11:03am. 95 Views, 0 Comments.
Foreclosed home search is now active and available on our home search www.brettsellshouses.com/idx
Here's a quick rundown of the different options available and why you may choose to use them.
1. Bank Owned/REO
By checking this box your search results will be limited to only those properties that are bank owned or reo's. Of course if you've been reading our site and blog, you already know that often, these are the real deals on the market right now. For those of you not familiar with the terms you can read more about them on our foreclosure page.
Because of the way banks handle their foreclosures, you still won't know whether these homes already have several offers or not. The best foreclosed homes sell in days and they sell to buyers that are…
Will the First Time Home Buyer Tax Credit be extended for all?
Tuesday, October 13th, 2009 at 6:45pm. 159 Views, 0 Comments.
Will the First Time Home Buyer Tax Credit be extended?
As we approach the deadline for closing on purchases to qualify for the First Time Home Buyer Tax Credit of $8,000, I am often asked what the chances are that the program will be extended. The answer to the question is always the same; your guess is as good as mine. However, I can give an update on what is happening in Congress where the decision will be made.
First, there is some very positive news from the U.S. House of Representatives. Last Thursday October 8, 2009 the House passed H.R. 3590, the Service Members Home Ownership Tax Act of 2009 by a vote of 416 to 0. This bill extends the First Time Home Buyer Tax Credit one full year for Military personnel (and some Civilian Federal workers)…
Pre-Approved or Pre-Qualified?
Saturday, October 3rd, 2009 at 3:18pm. 119 Views, 0 Comments.
Is there really a difference?
Pre-Qualified, and Pre-Approved are two very different things, and yet the two terms seem virtually interchangeable when talking with Realtors, and Borrowers. Most Realtors know that they prefer to deal with someone who is Pre-Approved to someone who is Pre-Qualified, but when pressed, they are not sure of the difference. Although they may not know why, they are correct in wanting to deal with a Pre-Approved borrower more than one who is Pre-Qualified. The bottom line difference is that someone can be Pre-Qualified, and yet never be approved for a loan while someone who is Pre-Approved will rarely fail to close on a loan.
The answer can be found in the root of the two words: qualified, versus approved. The word…
Tacoma Condo Financing Changes
Thursday, October 1st, 2009 at 3:13am. 136 Views, 0 Comments.
Condominiums have always required more in the way of paperwork than a traditional single family residence, and much of the reasoning for the increased documentation is not well explained, or understood by many loan officers. On top of this, there have been a myriad of changes to overall lending guidelines in the past six months. Perhaps as a result, the recent updates regarding changes in the approval process for condominium projects seemed to fly under the radar for most.
The biggest change is that FHA is no longer going to allow Lenders to give a “spot” approval for an individual condominium residence, but rather will have to certify the entire condominium project. HUD will continue to keep their database of approved projects, but as…
Price Range and Home Prices
Sunday, September 27th, 2009 at 10:51am. 116 Views, 2 Comments.
I asked one of the local lenders we work with to prepare a simple post to help you determine which price range is right for you to buy in based upon payment. As usual Ron has over achieved and provided you with a detailed comparison of 3 popular mortgage payments and their corresponding price ranges including taxes and mortgage insurance where applicable.
It's important to point out that while these hypothetical examples are quite detailed, each situation has it's own variables. Rates, terms and availability of financing can change daily. The examples are for general information and should be verified independently by your mortgage professional.
$1,000 Total Monthly Payment Equals:
$150,000 Loan without PMI
…
$8,000 First Time Buyer Tax Credit
Saturday, September 26th, 2009 at 11:58am. 124 Views, 1 Comments.
The $8,000 first time buyer tax credit deadline is now looming large. Qualifying first time buyers wishing to take advantage of the credit will need to have their home closed by November 30th. If the current financing timelines continue, you'll want to get moving quickly.
Realistically, you'll want to have your new home under contract by the middle of October to have a stress free shot at closing by Nov 30th if you plan on using USDA 100% financing.
FHA and VA buyers don't have much more time. I anticipate financing timelines and competition to be more difficult in the coming weeks. We are already finding lenders, Realtors, Appraisers and Home Inspectors are filling their schedules quickly right now. If you really want to move forward, it's time to…
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