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Posts tagged as:

Affordable Home Buyer

USDA and Texas Veterans Land Board 2010 Update

January 23, 2010
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The #2 and #3 most visited pages here at My Denton County Real Estate are the articles that have made me the authoritative REALTOR in North Texas for USDA Rural Development Loans and the Texas Veterans Land Board. Driven by Google searches as seen here and here I felt the need to reassure visitors in 2010 interested in either of these loan programs the information written here is still valid and up-to-date.

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Buying a Bank-owned Home is “Easy”

October 11, 2009
Bank-Owned and REO Properties in Denton County

While making the rounds to other real estate agents blogs, as I often do to keep up on the market in other parts of the country, I found this hilarious and sadly very true video created by Kris Berg from The San Diego Real Estate Blog. This is evidence the shows whether it be in San Diego, California or here in Denton County Texas buying a bank owned property or REO ((Real Estate Owned Property)) it is just as frustrating.
Kris really shows the comical side of a real estate transaction that many first time home buyers, and even move-up buyers trying to take advantage of great value and bargains in the market today that is saturated with short-sale and foreclosure properties. Sad thing is, stories like this, and the frustration experienced by buyers agents and buyers alike will continue for years to come unless there is some reform with how banks manage these properties. For the record, I have a short sale I have been waiting on for 5 months now, after it closes I will be sharing that story here.

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Is a 5% Interest Rate a magic number?

September 4, 2009
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Below is a commentary from CNBC on September 3, 2007 pointing at that historically speaking when the interest rates fall below 5% the Home Buyers comes out to play, and in a big way. The Fall selling season we are entering needs this; but as this story also points out when rates drop as they did last Spring it shows an increase in mortgage applications, not necessarily people buying homes. In the Spring of 2009 a huge portion of this was done for refinancing existing loans. As of now, the re-financing rates are not as attractive as they were last Spring, and still not near new purchase rates.

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Buyer Beware: When Considering a Short-Sale and your Tax Credit

June 29, 2009
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This is a topic I have been intending to write about for several weeks — But I have been so busy working on deals with my current clients I have not been able to throw out this bit of caution to some of my readers, and hopefully soon-to-be customers. My prediction after gauging the temperament, price ranges of starter homes, and the quest for a “good deal” by first-time homebuyers is that many hoping to take advantage of this short-sale market may miss the opportunity of receiving their First Time Homebuyer Tax Credit. I have not really written or even mentioned much about short-sales on this website; simply because there are plenty of other sources, and acquiring customers who may buy a short-sale simply comes with the real estate landscape for the time being.

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Monetizing the Tax Credit for a Down Payment: Clear as Mud

June 1, 2009
Eight Thousand Dollar Tax Credit

Ever since the May 12th announcement from HUD that the $8000 First Time Homebuyer Tax Credit was going to be able to be used as a down payment I believe there has been more misconceptions, ill conceived speculation, and just down-right misinformed banter from those in the real estate industry and future home buyers alike.
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Updated Restrictions and Income Limits for USDA Rural Development Home Financing

April 27, 2009
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It has been more than a few weeks since I last posted an article on USDA Guaranteed Housing program, the fact is I am working with many clients on this loan program — But I know there are more of you that should be working me. Why do I say this? Google tells me so. The USDA related pages account for 52% of the incoming visitors here. So I apologize that the updates to restrictions and new guidelines are a couple weeks overdue.

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$8000 Tax Credit used as Down Payment in Texas Coming Soon

March 29, 2009
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This is a question I have noticed entered on searches for some incoming traffic here at My Denton County Real Estate, and have been asked about more than once. I have not addressed this yet due to the fact there is nothing in place YET. But in an effort to appease those search efforts, and to win over those future home buyers who have not yet chosen a real estate agent.

Here it is..

In early to mid May of 2009 the Texas Department of Housing and Community Affairs is going to unveil a program that will allow First Time Homebuyers to monetize the $8000 Tax Credit that purchasers between March 28th and December 1, 2009 are entitled to receive. This will enable those first timers seeking down payment assistance to put a credit they have not yet received towards the purchase of the home.

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