Central Ohio Real Estate Cafe'

There  has been lots of discussion and articles this week indicating HUD would allow buyers to use their future tax credit of 8000.00 as a DOWN PAYMENT but as indicated below, the Fed's reversed that decision, therefore, buyers would not be able to get an advance on their tax credit for down payment.  The concern was this was no different then the "seller down payment assistance program" that was eliminated as of 1/1/09..

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Stay tuned I am checking with OFHA to see how that will affect the programs they are currently offering.

 Why the Stimulus Makes this a Fantastic Time to buy Real Estate

If you are a first time home buyer and you are sitting on the fence I urge you to jump down and get moving run don't walk to a phone and call a Realtor to get you into your new home.  With record low interest rates and the abundance of down payment programs available in the Columbus Area there are only a few obstacles to keep you from your dream house.

First, know how long you plan to be in the area.  If your job requires you to move frequently and you are unable to commit to an area for at least 3 years this may not be your time to buy.

Second, be prepared by having some savings on hand.  Although there are many programs to help with down payment assistance you may still need money for inspection, warranties, moving, utility deposits and misalliance closing costs.

Next, Contact a lender to find out exactly where you stand financially and how much you home can afford.  Working with your lender will help you better understand what the bottom line costs will be for your new home.

Finally, find a Realtor® who can guide you through the process and help you find your dream home.  The first time purchase can be daunting and overwhelming.  Professional Real Estate Agents are experienced in helping you maneuver through the process to your new home. 

With all of these obstacles addressed you are on your way to owning your piece of the American Dream.  For more information on buying or selling Columbus area real estate call Vanessa at 614-273-6406 or email me at Vanessa.simmons@realliving.com.

For More Feeds on Buying see:

Three Ways to Roundup a Down Payment for your new Columbus Area Home

Why the Stimulus Makes this a Fantastic Time to buy Real Estate

$8000 Dollar Tax Credit = Down Payment Assistance Hurry Limited Funds!!!

Those of us who work with short sales only need to mention "Countrywide" and instantly delays and slow processes are understood.  Often the mere mention of "Countrywide" will harness sympathy and compassion.   The name has sparked frustration from sellers, buyers and agents across the country.  So it should come as no surprise that many of us are anxiously waiting to see if the Bank of America (BofA) acquisition and name change will bring about real change.

When I recently read that Countrywide President David Sambol was given a 20 Million dollar retention bonus, by  BofA I was more than a little disappointed and far less optimistic about the company's commitment to real change. 

To convince folks like me that the new Bank of America Home Loans is open for business and has shed the tarnish of Countrywide Home Loans, the company has launched a huge marketing campaign.  I, for one, sincerely hope that the unrevealed dollar amount, being spent on the rebranding campaign, includes some substantive change and not just in name only...