Archive for June, 2009
Shasta MLS-Create Your Custom Search
It should come as no surprise to anyone reading this that the Internet has become the indispensable source for real estate listings and information. Most Homebuyers and Real Estate Professionals go online to research available real estate for sale. All MLS systems (Multiple Listing Service) including our local Shasta MLS system (FlexMLS) are web based systems that allow for real time searches of real estate for sale in their area. ( Shasta County as well as parts of Tehama, Siskiyou and Trinity County in our case). All agents belonging to the Shasta MLS are able to provide access to all homes for sale on the Shasta MLS via their personal websites. You might think that which Shasta MLS agent site you choose to access the Shasta County Multiple Listing Service will offer you the same features and listing search tools. Listings? Yes. You will see the same listings on any agents public Shasta MLS viewer. Search and Save Features are a different story. On most agents MLS viewers you can browse listings but you have to keep a notepad handy to make lists of the homes that interest you. Going back and finding the same listings later can be a real hassle and requires re-entering all the information. Because of this FlexMLS offers an optional upgraded MLS search that allows you to create your personal password protected Shasta MLS search with save to listing cart and multiple search features. This is very handy when you are looking at listings on a daily basis and want to keep track of your favorites. The opening image of the search includes all listings on the Shasta MLS. Use the search refining options on the page to narrow search to your personal preferences. In this way you can stay on top of all homes for sale that might work for you. You can give it a try here. If you need assistance please don’t hesitate to ask. Happy House Hunting!
Marketfest 2009 Kicks Off Tonight
Time now an issue on $8,000 tax credit for First Time Homebuyers.
With Summer just getting underway it may be hard to imagine that we are getting close to the deadline for taking advantage of the $8,000 federal First Time Homebuyer tax credit. Sounds crazy but lets break it down. Lets start at the finish. Our deadline for tax credit is Dec. 1,2009. As the lender underwriting is moving very slow these days we better count on 60 days for escrow process from start to finish. That means we will need to to find a home that works for you and get it in escrow no later than Sept 30th. With that in mind the only “shopping” time to find your next home is what little time we have left of June, July, August and September. As more and more first time homebuyers realize this the competition for the best houses will undoubtedly increase. My recommendation? Don’t wait too long and be forced to choose between home shopping under pressure or potentially missing out on the $8,000 tax credit.
REO REPORT
Buying REO Homes, First Time Buyers
REO REPORT – Over 100 foreclosure listings on the Shasta MLS. First Time Home Buyers may qualify for a $2,500 grant at close of escrow. Thats in addition to the $8,000 First Time Homebuyer Tax Credit. You can view details, photos, maps, satellite imagery and other details using this listing cart. You can also save your favorite listings and create your personal password protected MLS portal so you can login to the Shasta MLS from your computer. This link will be good until 7/31/2009. Contact Us for an updated list.
USDA 100% Financing – Property Map and Income Guidelines
First Time Homebuyers who qualify as low income under USDA income guidelines are eligible for 100% financing using USDA Rural Development loan program. You can use the Search Property Eligibility page to find homes for sale in Shasta County that are located in USDA approved areas.
Quite a bit of Real Estate in Shasta County is located in USDA approved areas and some great values can be found in today’s market. Combine 100% financing with current low real estate prices and the $8,000 First Time Homebuyer Tax Credit and make the affordable move to home ownership. Call or e-mail to get started.
Sphere: Related ContentCity of Redding Homebuyer Program-New DAP Details, REO Incentive
The City of Redding DAP or Down Payment Assistance Program for First Time Home Buyers has had some recent changes with a couple of really exciting options being rolled out. For one thing, it’s no longer called DAP. The new name for the First Time Home Buyer program is “The City of Redding Homebuyer Program”. Income and loan guidelines have been modified from previous DAP program but still very similar.
We are really excited about the new Homebuyer Incentive Program (HIP) that targets Bank Owned REO properties being purchased by First Time Home Buyers. The HIP program starts July 1st and consists of a $2,500 grant to be used in conjunction with the Homebuyer Program loan. As so many of the First Time Buyers we work with are purchasing REO properties we see this as a huge benefit!
Combine the City of Redding Homebuyer Program with the Homebuyer Incentive Program grant and the $8,000 First Time Buyer federal tax credit and you have a win-win-win situation for First Time Buyers.
IRS Form 5405-The 8k First-Time Buyer Tax Credit
First Time Buyers can use 8k tax credit for down payment
First Time Buyers, Random Thoughts
Great news for First Time Home Buyers. You can now use the $8,000 tax credit towards your home purchase! ”Today’s announcement details FHA’s rules allowing state Housing Finance Agencies and certain non-profits to “monetize” up to the full amount of the tax credit (depending on the amount of the mortgage) so that borrowers can immediately apply the funds toward their down payments. Home buyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate. Read entire HUD news release
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