Help for the First Time Home Buyer!

New Data Released Daily Paints Confusing Picture

Alfred — Thu, 02 Sep 2010 20:22:25 +0000

What is a First Time Home Buyer To Do? First the story reads existing home sales plunge, then today the story reads “Pending home sales rise 5.2% in July”. So who should a first time home buyer believe? All and none. Like the fine print says on all investments, past performance does not guarantee future [...]

Housing Market

Alfred — Wed, 25 Aug 2010 21:09:38 +0000

Is now the time to buy? According to the New York Times the housing market seems to be in the toilet. So why would anybody consider buying now? Negative headlines always make for a more dramatic story, but the numbers are not as bad as you may be lead to think. Last spring there was [...]

Fed Issues New Rules For Mortgage Brokers

Alfred — Mon, 16 Aug 2010 21:46:58 +0000

Today’s New York Times had an article about new rules by the Federal Reserve regarding how mortgage brokers and lenders get paid. These new rules prohibit a broker or lender from getting paid based on the percentage rate of the loan. So what does this mean to the first time home buyer? In theory it [...]

Sales are Down – Should You Buy?

Alfred — Fri, 13 Aug 2010 18:17:43 +0000

Did you read in the newspaper today and worry the price of homes may still be falling? Now you wonder should you be thinking of buying a home? To understand what is happening you have to dig deeper than the headlines. For example, recent headlines in the Arizona Republic shouted Phoenix home sales fell in [...]

Persistence and Patience

Alfred — Wed, 11 Aug 2010 17:26:42 +0000

You Will Need It! Buying your first home can be a test of patience. Nothing happens quickly, in fact it will seem to move at a glacial pace. You go out and look at homes, then find one that excites you. You have your real estate agent write an offer and you are ready to [...]

Living by a School

Alfred — Wed, 11 Aug 2010 17:20:53 +0000

Do You Know Where The Closest School In Relation to the House You Are Looking At? As we discussed earlier about schools factoring in to the value of a home, as a first time home buyer you may not be aware of how a school can impact a neighborhood. The nature of schools creates two [...]

Have Fun

Alfred — Wed, 04 Aug 2010 15:55:12 +0000

What To Remember When Buying a Home Buying your first house is a big step in your life, and for many it becomes more of a headache than an enjoyable experience. Do you really want your first memories of your new home to be what a hassle it was? The home buying process is time [...]

Schools

Alfred — Tue, 03 Aug 2010 16:11:03 +0000

Why Worry About the Schools Around a House? Many first time home buyers do not have kids when they begin the process of looking for their first home, so they do not place the proper emphasis on schools. After all, how much difference can a school make in the value of a home? A lot. [...]

Who Picks the Title Company?

Alfred — Sun, 01 Aug 2010 21:45:47 +0000

Does the Buyer or Seller Normally Pick? A title company creates and records the legal documents that transfer the ownership of a home at the close of escrow. So who picks what title company is used? The buyer or the seller can choose which title company will be used. When you make your offer to [...]

Who Pays For Repairs?

Alfred — Fri, 30 Jul 2010 17:39:11 +0000

You have had the appraisal done on the home you have under contract, and the appraiser has identified several repairs that are necessary before the bank can make the loan on your first home. Who normally pays for those repairs? It all depends. Normally a seller would have to pay for repairs that are necessary [...]

Paint is Cheap

Alfred — Mon, 26 Jul 2010 20:13:34 +0000

Change What You Focus On Most first time home buyers tend to get distracted by things within a house that are easy to change. Many buyers have a hard time looking at a home that has colors they don’t like. But you need to know one thing: Paint is cheap to buy and easy to [...]

10 Reasons To Use A Realtor

Alfred — Tue, 20 Jul 2010 15:54:16 +0000

Think You Know Enough to Buy a House? Many first time home buyers want to try to save money and not use a Realtor. Can you do that? Yes, but do you want to? Buying a house is simple, once you know how the home buying process works. But it can be a costly learning [...]

How Much Is Earnest Money?

Alfred — Mon, 19 Jul 2010 22:11:24 +0000

How Much Should You Offer as Earnest Money Deposit? When you write an offer to buy a house, included in the offer is how much money you are willing to deposit, known as earnest money. Do you know how much to offer? The purpose of an earnest money deposit (EMD) is to show how serious [...]

How Much Should You Offer On a House?

Alfred — Wed, 14 Jul 2010 17:22:45 +0000

How Do You Know How Much is Enough? When you go to make an offer on a home, you want to make sure you offer enough that the seller will consider your offer, but not so much you over pay. So how do you know how much is enough? As we continually preach, the best [...]

Foreclosure Homes

Alfred — Mon, 12 Jul 2010 22:05:32 +0000

Is Buying A Foreclosure Home a Good Idea? As a first time home buyer you will spend a lot of time looking at foreclosure homes in today’s real estate market. And you may wonder if buying one is a good idea? In most cases the only real difference between a foreclosure home and a typical [...]

HOA Assessments

Alfred — Thu, 08 Jul 2010 19:43:12 +0000

Are They The Same as HOA Fees? If you are looking at a home that is located within a Home Owner’s Association (HOA) there is one thing you know will come up – HOA fees. HOA fees are monthly fees that home owners are required to pay, and are part of the monthly payment for [...]

What Does a Real Estate Broker Do?

Alfred — Wed, 07 Jul 2010 22:36:28 +0000

Why is a Real Estate Broker Involved in a Transaction? As a first time home buyer you probably understand what a real estate agent does, but how does a real estate broker fit in the picture? A real estate broker is in charge of the office a real estate agent is affiliated with. Any agent [...]

How To Buy A House Easy

Alfred — Tue, 06 Jul 2010 13:34:58 +0000

Buying a Home is Simple Like many first time home buyers you may think that buying a home is a complicated affair that requires much knowledge and time. And to some degree you are correct. But the reality is that while specialize knowledge is needed to buy or sell a house, you don’t need to [...]

How Do You Find A Real Estate Agent?

Alfred — Wed, 30 Jun 2010 01:02:19 +0000

What Makes an Agent Good? If you are like many first time home buyers the thought of finding a real estate agent to work with is like the thought of going to the dentist, you know you should but… After all, aren’t real estate agents simply fast talkers only interested in selling you a home [...]

What’s that Little House Symbol Mean – Equal Housing Opportunity

Alfred — Tue, 29 Jun 2010 01:53:26 +0000

Have You Ever Seen This Symbol? Many first time home buyers may not know what this logo means, do you? Simply put, there is a federal law in place that prohibits any form of discrimination in housing, whether you are buying or renting a housing unit. The law, the Fair Housing Act, prohibits discriminaton in [...]

All Real Estate Is Local

Alfred — Wed, 23 Jun 2010 19:20:20 +0000

Confused About Conflicting News Reports? For the first time home buyer trying to become educated on the real estate market, reading the news paper can frequently leave you with more questions than answers. Ever seen headlines like this? What’s This Mean? The two articles seem to contradict each other, but upon further review you will [...]

Should You Buy a House After The Tax Rebate Expired?

Alfred — Tue, 22 Jun 2010 20:34:08 +0000

The $8000 Tax Rebate Expired April 30, 2010 The federal first time home buyer tax rebate program required you to have a home under contract by April 30, 2010 to be eligible for the rebate. Does this mean you should forget about buying a home now? No, with prices of homes and interest rates where [...]

HOA Assessments – Do You Need to Worry About These?

Alfred — Mon, 21 Jun 2010 18:40:36 +0000

How Come Closing Is Being Held Up? Many first time home buyers will end up buying a foreclosure or short sale home because that is where the best deals are usually found. Then comes word that the closing is being held up due to HOA assessments. Should you panic? No worries. You just need to [...]

How Do You Get a Mortgage?

Alfred — Sun, 20 Jun 2010 16:18:33 +0000

Think It’s Hard To Get a Loan in Today’s Economy? A common misconception among first time home buyers is that it is hard to get a home loan today. It’s not, if you know where to start. In our guide on how to buy a house we say that the best place to start is [...]

Is It Hard To Buy A House?

Alfred — Fri, 18 Jun 2010 22:18:26 +0000

Where Do You Start? Many first time home buyers make the mistake of thinking buying a home is complicated. But it’s simple. If you want to learn how to buy a house, you should take the time to find the right real estate agent for you. Finding a Real Estate Agent We can hear your [...]

Are Buyers Too Picky?

Alfred — Thu, 17 Jun 2010 22:14:07 +0000

With the continuing slump in the real estate market many potential home buyers are becoming picky about homes. At what point does picky become unreasonable? A story in the the New York Times highlighted a growing trend in home buyers of going from picky to simply irrational in their demands. While it most certainly is [...]

Relaxing Lending Requirements?

Alfred — Wed, 16 Jun 2010 20:44:56 +0000

A Major Bank Recently Relaxed Lending Standard For FHA Loans With all the news regarding the continuing housing crisis it is amazing to find a lender relaxing their minimum credit score ratings for FHA loans. If you are a first time home buyer you will most likely be interested in Federal Housing Authority (FHA) loans [...]

Should You Get a Home Inspection?

Alfred — Tue, 15 Jun 2010 17:37:12 +0000

Are They Worth The Cost? As a first time home buyer, during the process of learning how to buy a house you will be presented with a series of questions, one being should you have a home inspection performed? How can you afford not to? How Much Does an Inspection Cost? That depends on the [...]

New Homes vs. Foreclosures

Alfred — Mon, 14 Jun 2010 20:32:35 +0000

Which Are Better Deals? Even with the glut of foreclosure homes on the market, home builders continue to build new homes. Should you, as a first time home buyer, consider a new home over a foreclosure? New Homes According to AZCentral.com, home builders are buying land once again in the greater Phoenix metropolitan area, indicating [...]

Short Sale Guidelines

Alfred — Fri, 11 Jun 2010 17:02:29 +0000

Lenders Guidelines For Short Sales Offer Insight If you are a

How Much Is an Earnest Money Deposit?

Alfred — Wed, 09 Jun 2010 18:45:26 +0000

How Much Do You Have Offer As Earnest Money When Making an Offer? When you make an offer to buy a house, part of your offer is how much money you are willing to put up as a earnest money deposit. How much do you have to offer to put down? There is no set [...]

Should You Use a Realtor?

Alfred — Tue, 08 Jun 2010 20:19:37 +0000

Why Use a Realtor When Buying Your First Home? A common question many first time homeowners have is do you have to use a Realtor to buy your first home? No. But should you? Most likely. The traditional line of thinking, usually promoted by the National Association of Realtors, is that as a first time [...]

What To Look For In Your First House

Alfred — Tue, 08 Jun 2010 02:01:10 +0000

What Is Important to Look For? Most first time home buyers ask the same question, “What should I look for in a first house?” And the answer we give is usually simpler than most people think. The reality is that most first time home owners simply do not know what they are looking for in [...]

Should You Use a Brand Name Company and Broker/Agent?

Alfred — Fri, 04 Jun 2010 20:57:12 +0000

Do The Nationally Recognizable Brands Add Value for You? We all recognize the national brands of real estate offices. After all, these companies spend millions of dollars reinforcing their brand in your mind. But do these companies actually do anything for you? You probably recognize these logos and the companies they represent. All tout the [...]

Report on pending home sales helps stock market rebound

Alfred — Thu, 03 Jun 2010 16:41:36 +0000

Is Consumer Confidence Returning? The stock market rebounded Wednesday on the news of strong pending sales of new and existing home, according to the Arizona Republic today. They also have an article about the jump in sales automakers saw in the month of May. How does this effect a first time home buyer? The single [...]

Pending Sales of Existing U.S. Homes Climbed in April

Alfred — Wed, 02 Jun 2010 17:56:40 +0000

Was This Solely Due to The Expiring Tax Credit? According to Businessweek.com, sales contracts for existing homes increased at a higher than expected rate in April due to the expiring federal tax credit for first time home buyers. But what caught our eye were several seemingly opposing statistics in the article. Mortgage applications were at [...]

Mortgage rates slide to low point of 2010

Alfred — Tue, 01 Jun 2010 17:41:16 +0000

Is This a Good Time To Get a First Time Home Buyer Loan? The average rate of a 30 year fixed loan was at 4.78% last week, close to the the record low of 4.71% seen in December. How does this affect the first time homebuyer? If you are looking to buy a home, low [...]

Memorial Day Thanks

Alfred — Mon, 31 May 2010 00:26:45 +0000

We give thanks to all those who are serving, and have served, in our armed forces so that we may enjoy this holiday. To Mike Ace, be safe and come back soon!

Problems continue in high-rise condo market

Alfred — Sat, 29 May 2010 20:24:32 +0000

Should You Buy a Condo? According to the Las Vegas Review Journal there are 5527 completed hi-rise condo units for sale today, along with countless two and three story condo conversion units. Should a first time home buyer think about buying a condo? Condos are a unique type of real estate, in that you buy [...]

New Home Sales Set to Plunge in Former Bubble Markets

Alfred — Sat, 29 May 2010 00:43:03 +0000

Is The Sky Falling? Today, Bloomberg reported that new homes sales are expected to drop dramatically due to the expiration of the first time home buyer credit. Is this really that big of a deal for Las Vegas, NV real estate? According to the story “Signed contracts in Metrostudy’s Las Vegas subdivisions dropped 12 percent [...]

Banks tout new short-sale processes

Alfred — Thu, 27 May 2010 00:32:49 +0000

But Are Short Sales Still a Good Idea For The Buyer and Seller? There is an excellent article in today’s Arizona Republic about the banking industry finally attempting to catch up on short sales. Most first time home owners want to know if they should look at short sales, and we always caution them about [...]

Home Prices Drop 0.5 Pct. From February to March

Alfred — Tue, 25 May 2010 14:53:39 +0000

Case-Shiller Index Shows .5% Drop From February to March According to the New York Times, prices in 13 of the 20 cities tracked showed a decrease in prices. But does this small decrease actually define a trend? It is hard to say that such a small overall change is even significant. In real estate is [...]

Existing home sales soar in April

Alfred — Mon, 24 May 2010 23:37:49 +0000

Monthly Sales Up 7.6% in April From March This gain was widely expected due to the federal tax rebate for first time home buyers that expired the end of April. However, the size of the increase beat expectations, according to CNNMoney.com Analysts are expecting to see a slowdown in May as many buyers rushed to [...]

Housing recovery threatened by homeowners’ ‘strategic defaults’

Alfred — Sun, 23 May 2010 19:30:42 +0000

AZ Bankers Tell The Arizona Republic In response to questions by the Arizona Republic, a group of banking leaders said that the increase in strategic defaults could lead to tightening of lending standards. They also claim that by walking away home owners are breaking their contracts. The point of contention for the lenders are home [...]

Phoenix home sales show promising trends

Alfred — Sat, 22 May 2010 18:54:48 +0000

Homes Sales Volume Near Record Levels For the first time in several years foreclosures did not make up the majority of home sales in April. According to the Arizona Republic, in Phoenix, AZ foreclosures accounted for 33% of the monthly sales, down from 50% the same month last year. Does this mean the real estate [...]

Buyers’ attitudes about foreclosures changing

Alfred — Fri, 21 May 2010 18:45:14 +0000

Become More Realistic Many first time home buyers think that foreclosures should be priced significantly lower than other houses. According to the Las Vegas Review Journal “8 percent of adults expect bank-owned homes to offer a realistic price discount of less than 25 percent off the value of a similar home not in foreclosure.” What [...]

U.S. Homeowner Confidence Rose in 1st Quarter of 2010

Alfred — Thu, 20 May 2010 21:11:25 +0000

Only Half of Home Owners Believed Their Homes Decreased in Value “U.S. homeowners grew more confident about the value of their homes in the first quarter” according to Reuters. How they determined that home owner confidence went up is not clear, however any positive change in opinion is great news! The key issue to understand [...]

Mortgage Delinquencies Rose in the First Quarter

Alfred — Wed, 19 May 2010 18:34:54 +0000

How Does This Effect The Housing Market? According to the New York Times, mortgage delinquencies rose .59% in the first quarter of 2010 compared to the last quarter of 2009. If you want to buy a home, what does this mean? It means that the foreclosure crisis will continue for the near future, so as [...]

FHA Set to Reduce Closing Cost Assistance This Summer

Alfred — Tue, 18 May 2010 17:51:20 +0000

How Will This Affect The Housing Market? According to HousingWire.com “The FHA will reduce allowable seller concessions — the percentage sellers can take from the sales price of a home to fund closing costs — from 6% to 3%.” How will the affect the real estate market? Most first time home owners get what is [...]

Orange County Default Notices Down 45%

Alfred — Mon, 17 May 2010 20:18:16 +0000

The Orange County Register has an article about filing of notice of defaults, the first step in the foreclosure process, being down a whopping 45% in April. Is this good news for the first time home buyer who wants to buy a house in the near future? While this seems to be good news on [...]

Home resales saw 2% boost in April

Alfred — Thu, 13 May 2010 17:12:08 +0000

Yesterday we discussed a story from the Arizona Republic saying home prices have risen, today we have Business Week saying “U.S. Home Seizures Reach Record as Recovery Delayed” while the Arizona Republic states “Home resales saw 2% boost in April.” Anybody confused yet? As we covered in yesterday’s article “Home Prices Rise in 1st Quarter”, [...]

Home Prices Rise in 1st Quarter

Alfred — Wed, 12 May 2010 21:22:24 +0000

The Arizona Republic ran an article today titled “Home prices in 1st quarter rose in nearly 60% of cities.” So what does this mean to the first time homeowner? When it comes to headlines about homes for sale, you have to read the article critically. What this article should have been titled is “Median home [...]

Short Sales – Are they a Good Idea for a Buyer or Seller?

Alfred — Tue, 11 May 2010 17:36:04 +0000

Short sales are gaining prominence in the real estate market place, thanks to the efforts of lenders and the federal government. The question more people involved need to ask is are they a good idea? According to the Las Vegas Review Journal “Short sales accounted for 27 percent of home sales in April, compared with [...]

Strategic Default – What Is This Coming Our Way?

Alfred — Tue, 11 May 2010 01:35:05 +0000

A new term has been gaining prominence in the banking and foreclosure industry – strategic default. So what is a strategic default? Where a home owner decides to let their home go into foreclosure, even though they can afford to make the mortgage payments. The original foreclosure crisis was caused by the first time home [...]

How Much Does It Cost To Use A Realtor?

Alfred — Fri, 07 May 2010 20:39:29 +0000

Thinking About Las Vegas Housing? Are you a first time home buyer wondering if you should check with a Realtor about buying a home, but are worried that they are too expensive to use? You may be surprised to learn just how much they cost! There was a recent article in the Las Vegas Review [...]

What Determines the Price of Phoenix, AZ Homes For Sale?

Alfred — Tue, 04 May 2010 22:22:44 +0000

Who Prices Phoenix, AZ homes? Do you think that there must be some official way the price of Phoenix, AZ homes for sale are set? Wonder who determines the price of Phoenix, AZ homes? The answer is you do. What you are willing to pay for a house is what they are priced at. The [...]

Las Vegas, NV Real Estate – Up or down?

Alfred — Thu, 29 Apr 2010 17:12:45 +0000

Las Vegas, NV Homes For Sale Is this a critical time for real estate in Las Vegas? The first time home buyer tax credit is due to expire Friday. How will this affect the values of homes? The Las Vegas Review Journal has a great story on the issue. For the past several years Las [...]

How to Buy a House – Phoenix AZ

Alfred — Fri, 23 Apr 2010 17:52:19 +0000

If you are interested in buying houses for sale in Phoenix, you need to learn what is going on in that market. It’s very easy to get a great deal on a home. Most houses in Phoenix for sale today are foreclosures or short sales. You will also find homes that are for sale that [...]

REO – What Does This Mean?

Alfred — Wed, 14 Apr 2010 16:30:53 +0000

REO Homes REO is a banking industry term for a house that has been foreclosed and the bank has ownership of (Real Estate Owned). Banks are not in the business of owning homes, so they want to sell the house as soon as practical. How they do this is they use a local real estate [...]

Las Vegas Foreclosures

Alfred — Wed, 07 Apr 2010 19:23:33 +0000

Want to know how to get the best deal on Las Vegas foreclosures? It’s simple. Work with a Las Vegas Realtor. Las Vegas Realtors have access to the local Multiple Listing Service (MLS), which is where all homes listed for sale with an agent are found. All foreclosures are sold using an agent, and all [...]

Homes for Sale in Phoenix

Alfred — Fri, 02 Apr 2010 21:23:44 +0000

Phoenix, AZ Homes Are homes for sale in Phoenix worth looking in to today? That all depends on what you want. In Phoenix, Arizona homes can be a great bargain for the first time home buyer looking for a home to settle in to. If you are an investor looking to make a killing in [...]

Henderson, NV Real Estate

Alfred — Wed, 31 Mar 2010 16:13:05 +0000

Are you interested in finding the best deal on Henderson, NV real estate? Let us show you how! The best bargains found in Henderson, NV real estate right now are foreclosures. Which you already know. What you need to find is a way to get the most up to date information on REO listings, another [...]

Las Vegas NV Real Estate – Is Relief on the Way?

Alfred — Mon, 29 Mar 2010 17:24:41 +0000

REO The big term in real estate today, REO, may lose some of its luster if the newly announced plans by the Obama administration come to fruition. According to the Orange County Register, the Obama administration announced a new plan to assist homeowners struggling to pay their mortgage. The plan give banks incentives to decrease [...]

Phoenix Real Estate

Alfred — Thu, 25 Mar 2010 17:18:18 +0000

Phoenix Homes for sale Bank of America just announced a new program to assist homeowners who owe more than their homes are worth. Through this new program, the balance owed on the mortgage will be reduced over time. This is the first program to address the real core of the foreclosure crisis, owing more than [...]

How to Buy Homes

Alfred — Tue, 23 Mar 2010 23:29:57 +0000

Las Vegas, NV Housing Perhaps you have heard there has been something going on with Las Vegas, NV housing? Wonder what all the hoopla is about? Las Vegas Real Estate has seen some rough times recently. The mid part of the first decade of the century saw phenomenal growth in home values, and a subsequent [...]

Henderson, NV Homes For Sale

Alfred — Sat, 20 Mar 2010 00:39:10 +0000

Henderson Housing If you are at all interested in Henderson, NV homes for sale, you must be aware of the foreclosure crisis that has hit the Henderson, NV housing market. The question everybody wants answered is how do you get your hands on a good deal? Henderson foreclosures, along with Phoenix, AZ foreclosures, represent some [...]

Las Vegas, NV Homes

Alfred — Tue, 16 Mar 2010 21:34:48 +0000

NV Homes Homes for sale have taken a beating recently. In particular Las Vegas, NV homes and Henderson, NV houses have been on a roller coaster ride. But the end may be in sight for plunging home prices. According to BusinessWeek, “The U.S. housing market is poised to withstand the removal of government and Federal [...]

Las Vegas NV Homes For Sale

Alfred — Fri, 12 Mar 2010 17:02:19 +0000

Las Vegas NV Houses Las Vegas, NV homes for sale have seen a turbulent marketplace the past few years. Starting around 2003, the prices of homes rapidly increased to the point that they had doubled by 2007. Then they proceeded to drop in value just as quickly, to the point that many Las Vegas, NV [...]

Las Vegas Properties

Alfred — Tue, 09 Mar 2010 21:30:05 +0000

Las Vegas Properties For Sale Recently, Las Vegas properties have shown some degree of stabilization. According to Forbes.com “In formerly down-and-out Las Vegas, for example, the number of homes for sale that have been discounted has fallen from one in three a year ago to just one in six today.” While this refers to the [...]

Las Vegas Homes For Sale

Alfred — Sat, 06 Mar 2010 21:34:07 +0000

Las Vegas Vegas Housing Have you heard about the great deals on Las Vegas homes for sale? You may have heard something about it, but are not quite sure what the deal is. From 2003 to the end of 2007, Las Vegas saw unprecedented growth in the value of homes. During this time frame the [...]

Las Vegas Realtors

Alfred — Mon, 01 Mar 2010 22:52:50 +0000

Why Use Las Vegas Realtors? Have you been thinking about buying your first home but are not sure you need to use a Realtor? Do you think it is a good idea to make your single biggest purchase without help? Many first time home buyers feel that using a real estate agent only adds to [...]

Are You a First Time Home Buyer?

Alfred — Sat, 27 Feb 2010 22:11:40 +0000

Become a First Time Home Buyer Are you tired of renting and thinking of becoming a first time home owner? Have you read about all the great deals on foreclosed homes and think now may be the time to get into the market? How to Become a First Time Home Owner The first time home [...]

Median Price of Homes Declines – Should you Buy a House Now or Wait?

Alfred — Wed, 10 Feb 2010 21:57:28 +0000

The Las Vegas Review Journal says that in January home sales soared while prices continued to slide. As a first time home buyer, what does this mean to you? The first thing you have to understand is what a median price is – it is the price at which as many houses are selling above [...]

FHA Lending Standards Tightened – Does this Affect the First Time Home Buyer?

Alfred — Sun, 31 Jan 2010 22:16:05 +0000

The Federal Housing Authority recently announced some important changes to their lending standards. How does this impact the first time home buyer? The New York Times recently had a small, but important, article regarding changes to the lending standards for the Federal Housing Authority (FHA). While the FHA does not make loans, they guarantee loans [...]

Appraisals – Why they are important for a first time home buyer!

Alfred — Wed, 27 Jan 2010 17:53:30 +0000

Appraisal issues have been in the news frequently lately. What makes this such a big issue for the first time homebuyer? In today’s edition of the Las Vegas Review Journal an article discusses the impact that appraisals are having on the market. While this could be considered a local issue only, it really is important [...]

Credit Repair – Does it work for the first time home buyer?

Alfred — Fri, 22 Jan 2010 21:21:22 +0000

By now we’re sure you’ve seen ads from credit repair companies claiming they can clean up your credit report and increase your credit score. Do they work? Possibly. Do they do anything that you can not do yourself? Not really. Legitimate credit counseling companies give you guidance and the voice of experience. They assist you [...]

Increase in Foreclosures For Sale Expected – What does this mean for the first time home buyer?

Alfred — Thu, 14 Jan 2010 21:18:52 +0000

Today’s Las Vegas Review Journal ran a story that Bank of America announced they will release approximately 6,000 foreclosed homes for sale into the Las Vegas market, 500 homes per month. Bank of America indicated that this would also occur on a nationwide basis, the release of the so called “phantom inventory”. What does this [...]

Short Sale for the first time home buyer

Alfred — Tue, 12 Jan 2010 21:02:55 +0000

In today’s Las Vegas Review Journal it was estimated that short sales now make up approximately 60% of the homes for sale in Las Vegas. Other metropolitan areas also are seeing the same sort of increase in short sales being offered for sale. Is a short sale a good idea for a first time home [...]

Is this a good time for a first time home buyer to buy a house?

Alfred — Fri, 08 Jan 2010 18:48:28 +0000

If you have never owned a home before, you may be wondering if this is a good time to buy your first home? Perhaps. If you talk to a real estate agent or a mortgage broker they are going to tell you it’s a great time to buy! If you talk to your tax adviser [...]

Is this a Buyer’s market?

Alfred — Thu, 07 Jan 2010 20:45:14 +0000

Is this a Buyer's market? All conventional wisdom says it is. But it may not be.