Dream Homes Within Reach
Many of our clients are now taking advantage of a unique opportunity in today's real estate market.
Given Tampa's 45% price drop AND the lowest interest rates in 60+ years, that house of your dreams is now quite possibly within your reach. The only catch is....you're not excited about selling your existing home at today's prices.
You might not have to. Many of our clients have been able to secure amazing prices on their "dream homes", AND rent out their existing home. Now they are in a postion to ride the market up, building equity in 2 properties. If you would like to put yourself in this position, let's get together to analyze the numbers and see if this makes sense for you.
$8,000 First Time Buyer Tax Credit Can Be Used for Down Payment
Shaun Donovan, Secretary of the U.S.Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.
Secretary Donovan said the department is days away from finalizing a plan that would allow first-time homebuyers to use the federal government's $8,000 tax credit on a down payment and closing costs instead of waiting until they file their tax returns to get it.
Under the proposed plan, HUD-approved lenders, nonprofit groups and government entities would issue bridge loans to borrowers before their closings. The loans would be paid back from the borrower's tax credit.
"This will help homebuyers who are a little short on down payment but want to get into the market," said Paul Bishop, an economist with the National Association of Realtors.
The new tax credit will stimulate an estimated 160,000 home sales across the nation - 101,000 of which would be first-time buyers who will receive the credit, he said.
59,000 homeowners would be able to buy another home if a first-time buyer purchases their home.
A first time buyer is defined as someone who has never owned a house, OR someone who has not owned a house in the past 36 months. (if married, this applies to their spouse also)
Chances are that you know someone who should be taking advantage of this incentive. Our experienced team of buyer specialists is here to to help our buyers out-maneuver the market, and make buying that first home a great experience!
As always, thanks for referring your friends, neighbors, and family to us. We love providing great service for our valued clients.
Best wishes,
John & Maria Hoffman, Realtors
Tampa Home Group
Keller Williams Realty
18101 Highwoods Preserve Parkway
Tampa, FL 33647
John: 813-865-4288
Maria: 813-865-4188
Fax 1-866-897-0571
John@TampaHomeGroup.com
Maria@TampaHomeGroup.com
www.TampaHomeGroup.com
