Jim Little's Sun City AZ Real Estate Blog » Mortgage http://jimlittleaz.com Sun City, Sun City West, Sun City Grand, Surprise, Glendale, Peoria AZ real estate. Serving the Sun City Neighborhood since 1998 Sun, 21 Mar 2010 15:23:32 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 First time Buyers, more about the Tax Credit. http://jimlittleaz.com/2009/05/31/first-time-buyers-more-about-the-tax-credit/ http://jimlittleaz.com/2009/05/31/first-time-buyers-more-about-the-tax-credit/#comments Sun, 31 May 2009 19:15:16 +0000 jim http://jimlittleaz.com/?p=137 As I mentioned in Friday’s post, the use of the first time buyer tax credit toward BUYING A HOME,  is a work in progress.

A very knowledgeable loan originator, Jeff Belonger in Cherry Hill NJ just posted a very good explaination of the rules as they are today. Rather than re-invent the wheel, see Jeff’’s post here.

Why does an agent in Sun City worry about first time buyers?  Because I also serve the family communities of Glendale, Peoria and Suprise AZ. All of these communities have excellent opportunities for the first  time buyer to own their own family home.

Jim Little, your Sun City Neighborhood REALTOR®

]]> http://jimlittleaz.com/2009/05/31/first-time-buyers-more-about-the-tax-credit/feed/ 5 Good News for Friday. http://jimlittleaz.com/2009/05/29/good-news-for-friday/ http://jimlittleaz.com/2009/05/29/good-news-for-friday/#comments Fri, 29 May 2009 22:20:18 +0000 jim http://jimlittleaz.com/?p=133
  • The Consumer Confidence Index improved 14% over the low in February. I have said for a year that confidence, more than anything else except affordability creates housing demand. Both measures are excellent today.
  • Nationally and locally, resale inventory is dropping(5% in the Phoenix metro, I’ll post June 1 with more detail on Sun City Neighborhood and surrounding communities.)
  • Buyers are now starting to chase listings, some homes for sale are getting multiple offers.
  • The Canadian dollar is still enjoying an advantageous exchange rate.
  • Last, but certainly not least, HUD has announced a rule that will allow FHA lenders to CREATE programs using the $8000 first time buyer’s tax credit for down payment and closing costs on FHA loans. This will be in the form of a bridge loan. Details are sketchy at this time, and each FHA lender will be creating their own programs. Be sure you and your agent investigate carefully.

    • Jim Little, your Sun City Neighborhood REALTOR®

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