On Lifetime this morning they ran a segment about not just buying a home … but the “Smartest Way to Buy a Home.”
“Buying a home is usually the biggest financial purchase a person will make, and you want an agent that is truly working for YOU. But, not all agents are created equal. In fact, many home buyers find out the hard way that their agent wasn’t solely on their side. In this segment, we explain “Exclusive Buyer Agents” and what they can do best for you… not just at contract time, but throughout the entire process of buying a home.”
The other day we got a call from a first time homebuyer interested in a home that just came on the market. As Exclusive Buyer Agents who only work for buyers, we began our investigation. Was that home really “just on the market”, or perhaps something else …
What we discovered and the 3 reasons you need this report …
Time is running short for taking advantage of the tax credit. What you need to do now, by mid-March, and April.
There are two homebuyer federal tax credits: the first time homebuyer credit up to $8000, and the move up credit of $6500. Both of these come with specific deadlines you need to know.
To collect either credit you will have to have a home under contract by April 30. There is another deadline: The home has to close by June 30th.
What should you be doing right now? Check out a timeline that can put you on track for a new home and the tax credit …
HUD has just released its latest version of “Shopping for Your Home Loan – HUD’s Settlement Cost Booklet.” On page6, it discusses the role of a real estate broker or agent and now includes a bolded reference to exclusive buyer’s agents. It says,
“It is your responsibility to search for an agent who will represent your interests in the real estate transaction. If you want someone to represent only your interests, consider hiring an “exclusive buyer’s agent”, who will be working for you.”
Download the free booklet and watch a revealing video about the difference between Real Estate agents.
Lafayette and Rockwood High Schools Ranked “Silver” by U.S. News and World Report
Good news for the Rockwood School District in St. Louis County. For the third consecutive year U.S. News and World Report has come out with its annual report on the top schools in the nation and Rockwood schools are looking great.
Even if you do not have children, this is good news for this area of the St. Louis Real Estate market and for homeowners and possible resale value. Find out how the Rockwood Schools (elementary included) performed in a recent report by the Missouri Department of Elementary and Secondary Education … and view available homes in this area. Read the rest of this entry
You probably know your Social Security number, some of your passwords, usually your PIN number. But do you know the number that will cost — or save you thousands of dollars? Look how your credit score number can impact your monthly payment:
Better Score = Cheaper House
If a family put a 3.5% down payment on a $172,900 four-bedroom house, they would take out a loan for $166,850. Here’s what their true bottom line would look like.
Credit Score of 760+ yields a rate of 4.981% with a monthly payment of $893.75
Credit Score of 680-699 yields a rate of 5.380% with a monthly payment of $934.83
Did you get that? The guy with the credit score in the range of 680-699 ends up paying approximately $41.00 a month MORE than the guy with a 760+ credit score! That’s every month!
Bottom Line: You will end up paying $15,000.00MORE for the home over the life of the loan!
If your credit score is less than 620: It will be tough to get a loan at all.
What a year 2009 was! For the buyer there were some great opportunities and for the seller … painful at times!
Wouldn’t it have been great to buy during some of these price dips that were so dramatic? We here at Finding Homes for You do not have a crystal ball to predict the future ,but we can keep you updated with current trends. We work for you the buyer only! If you would like a quick look at the current inventory of available homes check out the links below:
St. Louis Real Estate Advice for Buyers and Sellers
Excerpts from an excellent article found at Bankrate.com
“It’s no surprise the new year will ring in another buyer’s market, though with far more upside than in 2009. With that as a backdrop, here are 10 real estate tips for homebuyers and owners in 2010.”
At the beginning of a new year sometimes it’s good to look back for some perspective.This is an interesting chart that traces what the median income was for households (you will see the numbers in the upper right hand corner) and compares it to housing values over a twelve year period.Watch what happens around 2006.
Time is running short for taking advantage of the tax credit. What you need to do now, by mid-March, and April.
HUD has just released its latest version of “Shopping for Your Home Loan – HUD’s Settlement Cost Booklet.” On page 6, it discusses the role of a real estate broker or agent and now includes a bolded reference to exclusive buyer’s agents. It says,
Two St. Louis areas ranked the best or the worst for health matters
Lafayette and Rockwood High Schools Ranked “Silver” by U.S. News and World Report
Better Score = Cheaper House