First Time Homebuyer Program

Many Americans are about to close on the sale of their new home to officially become a homeowner for the first time.

Americans are taking advantage of the federal first time homebuyers program, before it runs out.

It definitely gives Americans the ambition to keep on everybody because buying a home is such a long process. You have to jump through so many hoops.

Ann Davis of FORHomeBuyers, Inc., says, "To meet the deadline, you must close on the sale of your home by November 30th". Ann Davis is a top buyers agent in the Raleigh real estate market.

To do that, Davis recommends that you have a contract in place by the end of September.

She says that should give you enough time and some extra, to make sure everything that leads up to the closing, gets done.

There are contingencies such as the home inspection contingency that needs to be performed and making sure you have mortgage in place which usually takes a couple of weeks.

The first time home buyer credit is available for homes bought on or after January 1st of this year.

To qualify, if you're single, you must make less than $75,000 a year.

If you're married, it's a combined income of less than $150,000.

The credit is a maximum of $8,000 or 10% of the home's purchase price.

To get the first time home buyer's tax credit, all you need to do is file for it on your federal income tax return.

FORHomeBUYERS, Inc., offers Exclusive Buyer Only Raleigh Real Estate Services.

Are you considering relocating to Raleigh NC, buying or building a new home in Raleigh-Cary-Durham-Chapel Hill NC or anywhere in the Triangle area of North Carolina? FOR HomeBUYERS, Inc., a leading Raleigh real estate agency and Exclusive Buyer Real Estate Agency in Raleigh will represent YOU 100% throughout the entire home buying or home building process.

As an 18 year old Raleigh Real Estate Agency we have Exclusive Buyer Only Real Estate Agents who serve Raleigh, Durham, Cary, Apex, Chapel Hill, Garner, Holly Springs, Fuquay Varina, Wake Forest, Knightdale, Wendell, Zebulon, Hillsborough, Clayton, Wake County, Durham County, Orange County, Chatham County, Johnston County, North Carolina (NC).

For Home Buyers Update

919.878.1110 office
800.333.2893 toll free
919.454.3564 direct
Stephanie@ForHomeBuyers.com www.ForHomeBuyers.com

NC Triangle Real Estate Update December 2008

Happy Holidays! In this holiday season FOR HomeBUYERS, Inc. would like to wish you much joy and happiness as you spend this time with family and friends. And let us continue to be thankful for what we have and for blessings to come.

Triangle Market Conditions: Who would have expected all the turn of events since our last email in September. The economic instability is now beginning to have a greater impact on the housing market in the Triangle as buyers seem to be taking a wait and see attitude. Also, the winter season is always somewhat slower so the market is softening more than usual. All that being said, the interest rates are dropping and we may see record lows very soon. This could be a great time to buy a home in the Triangle. The major banks are loaning money for homes. You will need to have a good credit score of about 680 and the minimal amount for a down payment of 3% with FHA until January 1 and then it goes to 3.5%. If you are eligible for a VA loan you can still get 100% financing. You can negotiate Closing Costs to be paid by the seller. If you are renting, now is a great time to buy a home. Sellers are very negotiable on their prices. In fact, there may not be any better time to buy than the next 3 or 4 months. When summer arrives people will begin moving again and prices will either stay more firm or even go up. The diversity of the job market in the Triangle keeps the housing market on a firmer foundation than most areas.

Don’t forget about the tax credit: In addition to the lower interest rates, you can take advantage of the $7500 tax credit through June 30, 2009. We provided detailed information in our September newsletter on the tax credit. If you would like more information please call us at 800-333-2893.

Visit www.ForHomeBuyers.cmo or call 919-878-1110 or 800-333-2893 to schedule a no obligation Consultation at your convenience to learn how Exclusive Buyer Representation can help you Avoid Costly Home Buying Mistakes. If you are not in the area, we can provide the Consultation by phone. We work evenings and weekends by appointment. This initial Consultation does not obligate you to us in any way. You may also REPLY to this email for an appointment to speak with one of our Exclusive Buyer’s Agent Realtors.