No, not the temperature ! I'm talking about the current Buyer's Market in our area.
Unbelievably low Mortgage Rates, tons of inventory and consumers shaking off the fears of recession have combined to create a unique situation here in the Capital Region.Homes are selling, unlike last year.
Buyers are active, even after the Tax Credit deadline has expired, driven by the amazing supply of desirable ...
Today, the National Association of Realtors announced that the United States Senate passed an extension of the Homebuyer Tax Credit closing deadline.
Known as the “Homebuyers Assistance and Improvement Act of 2010,” the bill was passed by unanimous consent.
The extension applies only to transactions that have ratified contracts in place as of April 30, 2010 that have not yet closed.
This ...
On June 11, 2010 it was reported by the National Association of Realtors that Senators Harry Reid,Johnny Isaakson, and Chris Dodd introduced legislation, added as an amendment to a pending tax bill (HR4213), that would extend the closing date deadline on the Home buyer Tax Credit, which is scheduled to end on June 30.
Their bill will extend the deadline until September 30, 2010.
This bill will ...
In 2009, According to the National Association of Realtors®’ in their 2009 Profile of Home Buyers and Sellers which was just released this month, first-time buyers comprised 47 percent of the market, most likely due to the federal tax credit and historic affordability, and real estate economists predict that 2010 will be an even bigger year for first-timers.
Who are these people, and what ...
On February 22, 2010, "Amanda's Law" became effective. The law requires carbon monoxide detectors in every 1-2 family property; apartments in a multiple dwelling; and all condominium and cooperative apartments where the dwelling unit has appliances, devices or systems that may emit carbon monoxide or has an attached garage.
What about Carbon Monoxide detectors?
A Carbon Monoxide, or CO detector ...
The federal foreclosure prevention program enacted near the end of 2009 has helped about 12 percent of borrowers who applied for help since the plans were announced according to the US Treasury Department .Almost 1 million borrowers applied, and as of January, about 116,000 home owners--12 percent--had their loans modified.Another 76,000 applications have been approved currently in process. ...
STAR applications must either be received in the assessor's office or be postmarked by Taxable Status Date. While Taxable Status Date is March 1 in most municipalities, it varies for some cities and in some counties. When Taxable Status Date falls on a Saturday, Sunday or public holiday, the deadline for filing exemption applications is extended until the next business day. STAR is New York State's ...
Did you know that New York State will offer cash advances of up to $8,000 on the federal homebuyer tax credit for borrowers using a State of New York Mortgage Agency (SONYMA) mortgage to purchase a home?
SONYMA’s new Tax Credit Advance Loan (TCAL) can be used toward the down payment or closing costs and can be repaid without interest when the homeowner receives their federal homebuyer tax credit. ...
On November 30, 2009, the Treasury Department released guidelines and forms for its new Home Affordable Foreclosure Alternatives Program (HAFA), part of the Home Affordable Modification Program (HAMP).
HAFA provides incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure on a loan eligible for modification under the HAMP program. HAFA applies ...
Here are some of the most frequently asked questions on the changes to the Home buyer Tax Credit. Additional details will be posted to this blog as they become available.
Question: Existing homeowner credit: Must the new house cost more than the old house
Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements ...