First Time Home Buyer $8000 All Locations : Nationwide Real Estate Advice

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Mike Scott,  in Dallas, TX
Mike Scott answered:
Are Coppell homes >$500,000 selling at, below or above list prices currently? Not sure what is a good/fair offer...
Hi Kim
We need to run comps on the home you have an interest in to determine what price is the right price to offer. I can help you with that.
Michael Scott
0 votes Share Flag Tue May 18, 2010 Home Buying in Coppell
Kent Gagon, Real Estate Pro in Chandler, AZ
Kent Gagon answered:
The question on the minds of everyone, both on Wall Street and on Main Street, is this: What will happen to the real estate market after April 30,
How long can we keep up the tax credits before we have to stop them? And then when we finally do stop them we will be asking the same questions. What is going to happen to th ... more
0 votes Share Flag Thu Apr 29, 2010 Market Conditions in Los Angeles
Don Tepper, Real Estate Pro in Burke, VA
Don Tepper answered:
would seller rent home for a few months till my credit score came up to level high enought to get approved ...

It's called a lease-option or lease-purchase. Here's a blog I wrote on how to find them:

Hope that helps.
0 votes Share Flag Thu Aug 12, 2010 Home Buying in Ryans Crossing
Leasing To O…,  in Dallas, TX
Leasing To Own Solutions answered:
I have a question. My husband and I just brought a house on Contract to Buy. We have three years to clean up our credit to purchase the house in
Hey there Maxie...

Granted, I don't know the full details of your contract or agreement...but I'll take a stab.

Generally speaking, a Lease-to-Own deal usually consists ... more
0 votes Share Flag Sun Apr 25, 2010 Rent vs Buy in Newton
Ashford Real…, Real Estate Pro in Colorado Springs, CO
Ashford Realty Group answered:
I live in Colorado Springs CO, I am looking to buy a new Richmond home, can I use there incentive money for ...
Hello Susan,
Unfortunately you can not use any of the incentive money for down payment.....FHA would label that an inducement to purchase, and would not be allowed. However there ar ... more
0 votes Share Flag Tue Apr 27, 2010 Home Buying in Colorado Springs
Grace Pazmino, Real Estate Pro in Beaumont, TX
Grace Pazmino answered:
I have a 663 credit score, first-time home buyer and am pre-approved for $75,000. I plan to apply for the C ...
I have a mortgage company that I work with that currently has government grants to help with down payment. Feel free to call me direct at 409-651-4478.
Grace Pazmino, ... more
0 votes Share Flag Mon Dec 20, 2010 Home Buying in Beaumont
Pacita Dimac…, Real Estate Pro in Oakland, CA
Pacita Dimacali answered:
how do i go about buying a foreclosed house.?
Your best bet is to engage a realtor to help you find homes that are offered for sale, and not just foreclosed homes.

When banks foreclose, they generally hire realtors to list the p ... more
0 votes Share Flag Wed May 26, 2010 Home Buying in Boise City
Kent Gagon, Real Estate Pro in Chandler, AZ
Kent Gagon answered:
On a short sale, when is the buyer qualified for the $8000 tax credit? When the seller signs or when the ...
So many quetions on the ending tax credit these days. In order for the buyer to qualify for the tax credit he/she much have an executed contract by April 30th, 2010 and close by the end ... more
0 votes Share Flag Wed Apr 21, 2010 Home Buying in Denver
Kent Gagon, Real Estate Pro in Chandler, AZ
Kent Gagon answered:
How much of a drop in sales where there be in the market after the tax credit expires?
I just consulted my crystal ball and it showed me a giant question mark. Noone knows! Noone can predict! All we can do is speculate and that is still driving many markets in the ... more
0 votes Share Flag Mon Apr 19, 2010 Home Buying in 46394
Robin Silver…, Real Estate Pro in Garden City, NY
Robin Silverberg answered:
As I said yesterday I make 36K annually and wish to buy a home. It doesn't have to be in Valley St ...
It is hard to say without really looking at your pay stubs or tax returns, and see if there is a way to increase your income at all. Are you looking for a single family only, or would y ... more
0 votes Share Flag Sun May 9, 2010 Home Buying in Valley Stream
Kent Gagon, Real Estate Pro in Chandler, AZ
Kent Gagon answered:
On April 12 my agent submitted offers for 2 short sale properties. I told her I was concerned because my goal from the beginning was to obtain the
If you plan on taking advantage of the 8000 tax credit and you are trying to buy a short sale, all I can say is good luck. The contract is not binding until you have approval ... more
0 votes Share Flag Sat Apr 24, 2010 Home Buying in Fremont
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
We are about to close on a short-sale purchase, and are hoping to get the first-time home buyers tax credi ...
Consult with your tax professional for accurate information as it applies to you regarding IRS qualifying codes--also see IRS link for additional information. ... more
0 votes Share Flag Fri Apr 16, 2010 Home Buying in 83706
FSBOsuccess, Home Seller in 28590
FSBOsuccess answered:
Why am i being asked (as the seller) to pay the closing costs for a NACA buyer if it is being paid by the le ...
Can't answer your direct question, but remember a seller never has to agree to pay closing costs. Perception out there (I think due to home selling TV shows) is that a seller shou ... more
0 votes Share Flag Wed Jun 2, 2010 Home Selling in Nashville
Davis Team,  in Loganville, GA
Davis Team answered:
I keep hearing that I should get a 'good faith' estimate of closing costs? Is that right? The problem is I don't know what is fair and
You have the right to obtain three GFE (Good Faith Estimates) and have them compared. The Fed just passed this law that helps to explain the process of what the lenders charge and the ... more
0 votes Share Flag Sat Apr 17, 2010 Financing in 32907
Michael Genn…, Real Estate Pro in Media, PA
Michael Gennett answered:
Is is at all possible to get a new home loan with credit scores under 600?
Hello Ncp74!

Well, credit score alone is the only determining factor. It's possible to get a FHA done as they say 580 but a lot of lenders say no under 620. There are lenders wh ... more
0 votes Share Flag Fri Jan 10, 2014 Home Buying in 70062
Michael Genn…, Real Estate Pro in Media, PA
Michael Gennett answered:
I am looking into buying a condo/townhouse in Homestead,FL. I would be a first time buyer. I would be paying ...
There is no right price for a bad investment! That being said....DO YOUR HOMEWORK!
What are the HOA rules and regulations? Is there a Capitalization Fee? Rules on maximum rentals in d ... more
0 votes Share Flag Mon Sep 20, 2010 For rent in Homestead
Michael Genn…, Real Estate Pro in Media, PA
Michael Gennett answered:
Hello Firefighter!

Do you mean what value do you pay transfer tax on? It would be the agreed upon value(sale price) between you and the bank.

Hope this helps and email back if yo ... more
0 votes Share Flag Tue Apr 13, 2010 Foreclosure in Connellsville
Dave Griswol…, Real Estate Pro in Bridgewater, NJ
Dave Griswold/ Lisa Payne-Griswold answered:
I want to back out of a short sale. Will I lose my down payment? They have taken 7 months and have yet to accept or reject the offer.
if they haven't accepted or rejected you down payment should be refunded. We suggest you contact your Realtor and recind your offer. Make sure it's in writing as well as verba ... more
0 votes Share Flag Mon Dec 26, 2011 Home Buying in 33018
Michael Genn…, Real Estate Pro in Media, PA
Michael Gennett answered:
We are in need of a Short Refi ASAP. We are also in desparate need to qualify and get a certification of such by Friday April 16, 2010.
Hi Kelli!

Contact anthony Casey at Bank of America. He's been doing this for 15 years and really, really knows his stuff!

Anthony Casey, Banks of America
... more
0 votes Share Flag Thu Apr 15, 2010 Financing in Bakersfield
Michael Genn…, Real Estate Pro in Media, PA
Michael Gennett answered:
I have a adjustable rate loan, never late. Got a loan remodify for 18 months. Found a bargain foreclosure, cant get approval due to lower credit score
Hello Jeanette!

Is the current house with the modification under only your name? If so, have you tried to see if your fiancee can get approved on his own? He would have to do it on h ... more
0 votes Share Flag Tue Apr 20, 2010 Credit Score in St. Louis County
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