First Time Home Buyer Blogs - Page 1

Housing numbers were rather bleak this week, with demand for new and existing homes down sharply in January. Today on the show we covered unemployment, COBRA continuation extension, unemployment insurance continuation vote In the House and Senate. How to Invest Your Money in 2010 DISCOUNT CODE…

We've just updated our list of home buyer closing costs. Over time, most home buyer closing costs have gone up, and since the housing crisis, mortgage lenders have added new fees on top of the old ones that were already fairly onerous.

One thing is certain: All these home buyer closing costs add up…

According to a recent survey from the National Foundation for Credit Counseling, the traditional American Dream of owning your own home may be changing. According to the survey, almost half of Americans don't think owning a home is a good way to build wealth and almost one-third don't think they…

What would it take to motivate you to buy a house? U.S. Senator Johnny Isakson, R-Ga., thinks you need the push of $15,000.

Yesterday Sen. Isakson introduced legislation that would expand the first-time home buyer tax credit to all home buyers, and it would increase the maximum credit to $15,000.

I…

All this commotion in the news lately about the $8,000 tax credit and foreclosures and great deals and falling prices has put the idea in my head that it might be time for me to become a homeowner.

Under normal circumstances, my finances would tell me to steer clear of a mortgage. But I figured that…

It's funny. This morning I went to check the Web site of the National Association of Realtors for the latest numbers for existing home sales and they hadn't been posted yet. Then after I finished the other two blogs just now, it magically appeared. Anyway...

Existing home sales increased 2.9 percent…

Last week, the Treasury Dept. announced a new plan to allow first time buyers (and those who haven't owned a home in the past 3 years) the opportunity to use the $8,000 tax credit as a down payment for the purchase of the property. The way this would be handled would be with a bridge loan until the…

Today at a meeting of the National Association of Realtors, Shaun Donovan, Secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration (FHA) is going to permit its lenders to allow homeowners to use the $8,000 home buyer tax credit as a down…

First-time home buyers responding to improved affordability conditions, and lower prices of foreclosures and short sales, impacted metropolitan area median home prices in the first quarter, while existing-home sales remained sluggish in many parts of the country, according to the latest survey by…

Sales of existing homes fell by 3 percent in March from February, the National Association of Realtors announced today. They fell by 7.1 percent compared with March 2008. On a seasonally adjusted basis, 4.57 million existing homes were sold in March, down from 4.71 million in February and 4.92…

First-time home buyers, pay attention! If you buy a new home in 2009, and close on or before December 1, 2009, you may qualify for an $8,000 tax credit.

The National Association of Home Builders has created a number of resources to help Americans understand current conditions in the housing market…

The IRS issued guidance on how to make the best use of the $8,000 first-time home buyer tax credit. This tax credit, which is available to first-time home buyers who purchase a home before December 1, 2009, can be taken on your 2008 or 2009 federal income tax return. But you'll get the money faster…

American tax payers are filing earlier and receiving larger refunds for tax year 2008, according the the U.S. Internal Revenue Service.

As of Feb. 27, 2009, the IRS had received 56 million individual tax returns, which they said was higher than the same time during the 2007 tax filing season.

The…

U.S. Treasury Secretary Tim Geithner Written Testimony -- As prepared for delivery House Ways and Means Committee Hearing March 3, 2009

Chairman Rangel, Ranking Member Camp, members of the Committee, thank you for providing me the opportunity to appear before you today to discuss the President's…

If you bought a home in 2008 or plan to buy one in 2009, before December 1, you'll be able to benefit from a federal income tax credit of up to $8,000. If you're married, filing separately, you can claim up to $4,000.

The Treasury Department and the Internal Revenue Service announced the tax credit…

Bob called the show to say he was making a low-ball offer and using my book 100 Questions Every First-Time Home Buyer Should Ask for more information.

If you're in that position, the book does cover low-ball offers and how to make a successful one. You can find the book (look for the 3rd version) in…

Apparently first time home buyers want more than they used to. They're less willing buy fixer uppers, per a new Coldwell Banker survey.

"In the past, first-time home buyers were willing to purchase older, more basic houses in an effort to save money and break into homeownership," said Jim Gillespie…

David called in to say that he's been looking at bank-owned real estate and he found an expensive house he liked in Fayetteville, Georgia. But when he walked out into the back yard 30 feet, he ran across a tombstone for Mother Mary, who died in 1901.

A little more searching around and he found more…

U.S. Senate lawmakers announced yesterday that they're working on a bill to help homeowners facing foreclosure. Among the proposed measures - a $15,000 tax credit for people who buy foreclosed or newly built vacant homes.

If you look at this from a capitalist perspective this is a great idea - it…

Much of the mortgage crisis comes back to personal responsibility. In the heat of the moment, buyers rushed out to purchase homes they really couldn't afford. In some cases, those in the mortgage industry may have sweet-talked them into thinking they could afford their loans. Agents earned their…

Is this what it has come to with exclusive buyer agents? Here's a letter I just received:

Dear Ilyce:

First of all, I want to THANK YOU FROM THE BOTTOM OF MY HEART for writing the wonderful book - 100 Questions Every First time Home Buyer Should Ask. You have touched upon ALL the essential points that…

Hello Ms. Glink, I heard your show on Talk of the Nation and thought you had a lot of interesting things to say. My husband and I are looking at buying a home in St. Paul. We'd be first time home buyers and will be living off my teacher's salary for the next 2 years while my husband finishes grad…

I was hosting my WSB radio talk show this morning (tune into www.thinkglink.com/radiio to listen or go to iTunes to download it next week) and was taking calls from first-time buyers who wanted to know what kind of financing to get.

This isn't unusual. During the course of a 2 or 3-hour radio show, I…

I got a call on the show today from someone who earns $28,000 per year and wants to buy a house. He'll only qualify for about a $90,000 mortgage, and wanted to know if there were any other resources. After the show, I got this email that I wanted to share with you:

"I was listening to your show today…