I would suggest you contact a good lender in your area. They can direct you to an agency in your State and area that may offer first time buyer down payment programs. Here in the State of Colorado we have the Colorado Home Finance Authority (CHFA ) which administers just such a program. You should also discuss with your lender the ramifications of loan differences on manufactured housing in your area. Certain types can be very difficult for loans and this can effect your later resale when its time to move on.... more
You have a valid point and the agent may not be looking our for your best interest. I would like to think that they are, though. However if you are concerned with any fine print of the Agreement of Sale then I would advise you NOT to sign anything until you have a real estate attorney review the contract. Any sensible builder will understand that. Alot of builder contracts are let's say heavily geared to protect the builders interest not yours. An agent can not advise you on matters of contract law, only an attorney can do that. Again the agent very well may have all the best intentions in the world but the fact that you question some of the fine print on a legally binding document warrants legal counsel. Good luck.
Jason Stevens, GRI,ABR
Kevin Flynn Realty, Inc.
email: firstname.lastname@example.org... more
Are you referring to homes which are not built yet on their lots? Say they have a model home and then lots which they are trying to sell and build you a home on?
If so this is because their loans they must carry in order to do construction to perm is hard for them right now. It ties up a lot of their money and equity lines during the build stages.
I was just talking to a builder yesterday with my mortgage guy because the mortgage company I do business with has this nice new program to offer builders stuck in this situation. Basically 3.5% down construction to perm loans FHA.
If you want, give me a call on my cell phone (215) 858-2266 or email me at email@example.com and I can see which builders you are referring to and maybe talk to them for you. Ill get on the phone with my mortgage guy and we can conference call them.
Just looking to help not try and get a sale so please do not think I am trying to just get your number. I don't think we can send messages through trulia or I would.
Long and Foster Real Estate Inc.
Direct (215) 858-2266
Office (215) 409-6900 ext. 16
Keith, sorry to say but no I don't think the bottom is here yet. I think there are still quite a few foreclosures still ahead of us which will continue to bring the bottom down. I do think we might see a strong spring season with the interest rates so low and with the $8,000 First Time Home Buyer incentives. We are even starting to see townships offering additional incentives on top of the $8,000 which sweetens the pot a little more. (Good for them)
I guess for now we should be hopefull that we are in full swing for a strong Spring!!!!... more