First-Time Buyers 
There are currently 12 blog entries related to this category.
Attention ALL Orange County Home Buyers - Tax Credit Expanded
Friday, November 6th, 2009 at 1:18pm. 313 Views, 2 Comments.
Great news came from Washington D.C. today for all Orange County Home Buyers. The House approved a bill that would not only extend the current tax credit for first time home buyers, but also expand the benefit to additional home buyers too. You can read the Washington Post article which also discusses other items included as part of the bill expected to be signed into law by the President shortly. The main points for home buyers to note are:
New Home Buyer Program
- $8,000 Tax Credit
- Applies to buyers purchasing a home for the first time in three years
- Sign a contract by April 30
- Close by June 30
Additional Home Buyer Program
- $6,500 Tax Credit
- Applies to buyers who are buying a primary residence AND
- Have owned their home for five…
Joint Homeowners, Joint Accounts?
Wednesday, October 14th, 2009 at 12:10pm. 283 Views, 0 Comments.
If you have been following me on Facebook, you know this issue has come up, but not in the way you think. I am toying with the idea of putting together a blog entry detailing some of my most "interesting" real estate transactions. Not to spoil it, but let's just say, opening a joint bank account for 2 days should never be part of the escrow process. Below is some good advice for any couple, not just homeowners, about how to handle their finances:
When you own a home with a spouse or partner, the issue of what's mine, what's yours, and what's ours can be a divisive one.
Each household has its own money management methodology and, according to financial talk-show host Suze Orman, most leave significant room for improvement.
In this 4-minute…
Tax Tips for First Time Home Buyers
Monday, September 21st, 2009 at 8:14pm. 173 Views, 0 Comments.
First Time Home Buyers Tax Tips - How Your Next Tax Return Will be Different!
If you are one of the successful home buyers in today's competitive Orange County Real Estate Market - Conrgatulations! Hopefully, you have also qualified for the First Time Home Buyer Tax Credit and have received your benefits.
Check out this short video message regarding the Tax Benefits of Home Ownership from Dan Lively, Esq, CPA, and Real Estate Broker.
In addition to the First Time Home Buyer Tax Credit, there are a few other tax benefits to take advantage of - like your mortgage interest payments - which are fully deductable on loans up to $1M. This is huge!!! Since the majority of your monthly payments in the early years of your mortgage are toward the interest -…
Feedback From a Successful Buyer using an FHA Loan on an REO
Saturday, September 5th, 2009 at 12:28pm. 222 Views, 0 Comments.
The ABC's of FHA loans on an REO
If you can make it past the alphabet soup of acronyms in today's Orange County Real Estate Market, you will find your way to success as a buyer. That, combined with a great agent who always has your best interest at heart will take you all the way to owning your own home, using the most popular financing vehicle in today's market - FHA financing.
One reason FHA loans are so popular is because of the low down payment requirement - only 3.5% - and you can often negotiate the seller to help with your additional closing costs.
One of the disaadvantages of being an FHA buyer is that you have stiff competition from all cash buyers and people with a larger downpayment. So you need some extra help to get your FHA offer…
FHA Financing Works for First Time Home Buyer
Thursday, August 27th, 2009 at 9:55pm. 222 Views, 0 Comments.
Orange County First Time Home Buyer FHA Success Story
After putting in 18 offers on other homes in Orange County, Toriana was finally successful in buying a huge 3 bedroom condo using FHA financing. And to top off the success story, the condo was an REO property. Read on to find out what led to Toriana's success and some of the hurdles along the way!
To begin with, the Real Estate market in South Orange County, Ca has seen a shift in the second half of 2009 - a shift toward a sellers market. No, I take that back, shift is too benign a term - the market has actually catapulted into a sellers market. Low inventory levels (meaning not enough homes for all the qualified buyers) has caused fierce competition - 10 to 20 to even 30 or more offers on the…
VA Loans Can Come True in Today's Market
Friday, August 21st, 2009 at 10:21am. 261 Views, 0 Comments.
Buying an Orange County CA Home Using VA Financing
Well, after putting in offers on 23 houses in 9 months, Rachel and Alan finally made their Orange County home buying dream come true. Why did it take 23 offers and 9 months for them to finally buy a home? If you are looking for a home to buy in Orange County today - you probably already know. But read on to see if their story help you make sense of today's real estate market!
Rachel and Alan began their search last December. No real big aspirations, although they did have some pretty unwaivering requirements. (Come on guys, you know you did...) They had to have 3 bedrooms and 2 baths and room for all of their toys. Like the Jeep (their third car) and the RV - I cannot tell you how many times…
FHA Loans for Condo and Townhome Buyers
Tuesday, August 4th, 2009 at 8:56pm. 214 Views, 0 Comments.
If you are in the market to buy a condo or townhome and are going with an FHA loan, you have to make sure the condo complex or condo project is FHA approved. If you are in Orange County, California and are an FHA condo buyer, this link will take you to the page where you can input the information you have about the complex you are considering to check the status. Sorting by zip code is very effiecient. but you can also search by City name, Condo Name, and Field Office. Santa Ana is the closest Field Office for Orange County, California condos.
To search righ now for FHA Approved Condo Complex - click below!
And if it is a new complex and not on the list, you can try to get an FHA Spot Approval. Call me for more details
Pick the Right Lender
Thursday, July 23rd, 2009 at 8:46pm. 221 Views, 0 Comments.
In today's competitive Orange County Real Estate Market, you have to have the right lender on your team. Once you get past the rates, fees, discounts, programs, and options, you have to realize that you are relying on the person you chose to PERFORM for you to help you buy your Orange County home. Compare the numbers all you want to make sure you know what you are getting, but do not underestimate the importance of the person you are hiring to get the job done.
The lenders I recommend to my buyers have a relationship with me. You will only do one transaction with them every 3 to 5 years - I do multiple transactions with them every month. I know them and they know me. The lenders I recommend to you as a buyer have a much higher liklihood of…
First Time Buyer Information Page
Sunday, June 7th, 2009 at 1:02pm. 268 Views, 0 Comments.
Thinking about taking the plunge and buying your first home? We've created a new web page just for first time buyers. Check it out to learn some of the details of the Federal Tax Credit and the new CAR Mortgage Protection Plan. You can also visit our Home Buyer's Quick Start page.
Use Your Tax Credit to Lower Closing Costs!
Wednesday, June 3rd, 2009 at 12:10pm. 222 Views, 2 Comments.
First-time home buyers got another boost from HUD last week, when it was announced that buyers who qualify for a one-time tax credit of up to $8,000 can now apply that credit towards closing costs on an FHA loan, or to increase their down payment from the required 3.5%.
Thinking about taking the plunge? Check out our home buyer's quick start tips!
