David Wright

Jose Luis,
First time home buyer status is 3 years, so you should be able to qualify as 1st time home buyers as of the day after the anniversary date this month of your close from 2005. Happy hunting!
P.S. - Make sure that you ask about gift programs at your lender and whenever possible use Zip Realty, as we offer the 20% Buyers Rebate! - Thu Jul 3 2008, 19:38

The real question would be where do you want to live and what's close to your job, church, school, etc... It is tough to compare a geographical area (i.e. Midlothian) to a specific community (i.e. Twin Hickory). If you're looking in Midlothian, then Roseland might be a community to look at as it will be very close to the new Watkins Centre Mall and with I-288 access to the West End. Generally speaking you are likely to get a lower price per square foot in Midlothian than the West End, but its not the slam dunk that it once was.

As for buying, its almost always better to buy than rent for a variety of reasons, including potential tax benefits, likely long-term appreciation, and a sense of personal pride and accomplishment. Right now, many rents are similar to mortgage prices in a lot of areas. If you're really looking for value, then try for a foreclosure in one of these areas, but realize that you can't be too choosy because there will not be many available in these communities. Call me at 804-307-2589 to learn more! - Thu Jun 26 2008, 20:54

Christy,
I am a local Realtor and would be glad to help. These types of situations are why all home buyers need a Realtor, especially on new construction.

While the answer to your question is likely complicated and would need a thorough detailed review, my first advice to any buyer is to make sure that you love the lot and house FIRST and foremost. Despite whatever deal you might make, you'll have to live in and look at the property for potentially quite a long time and the money will fade over time. That being said, despite the advertised list price of the home most builders in this market are willing to negotiate on virtually any aspect of the deal, if its the difference between keeping or losing a sale. A key component in this real-life scenario is how much of an earnest money deposit is at stake and what is the language surrounding that in the contract. Of course, with Zip Realty, you'd get back 20% of our commission as part of the Buyers Rebate, clawing back some of any potentially lost funds. Bottom line, get the lot that you like (and a professional in your corner)! - Thu Jun 26 2008, 20:39

Mary Sue,
Let me first express my most sincere sympathies for what you've experienced thus far, as exceptional customer service and accurate information is most important when dealing with real estate-related affairs. That being said, I agree with the other comments above, but I'd also say that you can use the already paid for appraisal to compare to your new appraisal (if ultimately required) for verification. There is a lot of scrutiny on appraisers right now and we've seen the trends of appraisals coming in much lower than they may have previously (heavily persuaded by the sales price even when you're getting an amazing deal versus the comparable properties). If you do not feel that the new appraisal is showing the proper fair market value and its because of using different comparable properties, then you might have your loan officer ask about using some of those other comps to potentially increase the appraised value (if needed). - Wed Jun 25 2008, 08:51