A Dollar a Day – Start Saving for that Down Payment
Some great tips from the National Association of Realtors® about how to save for that new home down payment: IMAGE SOURCE: www.realtor.com
Is Now a Good Time to Buy?
Time Magazine’s September 11 cover story attempts to make a strong case against homeownership in the article found here; but I have actually found my recent conversations with clients (current and pending) to present a story that is quite the opposite. Are you still debating whether or not it is a “good time to buy”? It is never a good
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Trying to Utilize FHA Financing? Check this List of Condo Communities to See if They’re Approved!
If you’re planning to utilize FHA financing to purchase your next home, you have to use a little bit of caution when considering condos in Charlottesville, as not all of them are approved for FHA financing. Check out the link below to see whether or not the condo you’re considering is approved for FHA; HUD.GOV Condos with FHA Financing If your the condo community you’re considering is not on this list, you may need to check with your mortgage lender to see if you will be able to come up with an alternative type of financing. Additionally, if you live in one of the condos that is not able to provide FHA financing, you should be aware that it may limit the potential number of Purchaser’s who will have the ability to buy your home on the resale market! Please give me a call if I can help connect you with a lender who may be able to help you find alternative financing orget you qualified!
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New Forms to Claim The First-Time Homebuyer Tax Credit
The new forms to submit when claiming the first time homebuyer tax credit have finally been released! Form 5405 will now be needed when submitting a tax claim, and this is likely mainly due to the large numbers of tax fraud we were experiencing in response to the First Time Homebuyer tax credit. Please be sure to file this along with your claim, so you don’t experience any sort of delay in claiming your credit!
…New-home buyers who don’t have a HUD-1 settlement statment must send in a copy of the certificate of occupancy.
…I hope that this will continue through the extension of the credit in 2010, but I would love any feedback you may have!
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January is National Radon Month!
As described on the EPA website; Radon is a cancer-causing natural radioactive gas that you can’t see, smell or taste.
… In Charlottesville, the standard is to test for radon when you purchase your home during the inspection period (and some people will opt not to test at all) but for most people, that is the first and only test for radon that they will do on their home. There are many areas in Charlottesville where radon gas is present in homes, so if you’ve never checked- now is a great time! Testing for radon is easy and inexpensive, and the EPA Radon site has lots of local and national links to help connect you with how to purchase a self-test, connect with someone locally to administer a professional test, and find people to mitigate a radon problem should you have one. Locally, one of my preferred home inspectors, John Handloser with Pillar to Post Home Inspections , will be happy to administer a professional radon test in your home- call him a few days in advance to schedule him to come out.
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