Young couples can live comfortably in a rental apartment or small house initially, but inevitably the prospect of children or other considerations will create a demand for more space.
At some point, you will feel that it's time to buy a house, but accumulating the cash for a down payment, moving expenses and up-front loan costs may make it seem out of the question.
But don't despair--home finance is part of a Realtor® training and after discussing your financial picture with them, you may well discover that your prospects for a mortgage are better than you think. If your ability to qualify for a loan in other respects is adequate, creative solutions for a tight initial cash position are available.
A short-term lease-purchase arrangement with the seller, for example, or perhaps a lender with a program that minimizes the down payment and allows some of the loan costs to be included in the payment schedule.
Your agent is aware of these and other alternatives. If you're ready to buy your Realtor® can help make it happen!
Interest rates are still around 4.75%. This is very impressive.
The housing market seems to be stabilizing. One reason could be the reduction of inventory. Analysts say that the stabilization of the market doesn’t mean that prices will rise anytime soon. Some think the supply will decline below the pre-2006 levels by the end of 2009. This is very encouraging.
First-time buyers who have not had interest in a principal residence for three years are still eligible, and the maximum amount remains the same $8,000 for married couples, $4,000 for those filing separately.
Current homeowners, who have consecutively maintained the home they want to sell as their primary residence for five of the last eight years, are also eligible. However, the maximum amount for those homeowners is lower: $6,500 for married couples and $3,200 for those filing separately.
The tax credit may not used to purchase a home for more than $800,000. All buyers who want to get the credit must include documentation of the purchase on their tax returns.
The income limits for both tax credits have been raised to $125,000 for single buyers and $225,000 for married couples.
This is a major victory for consumers, REALTORS® and the housing market.
According to our MLS system at PPAR in Colorado Springs there are currently 6 homes for sale in Top of Skyway with prices ranging from $539,000 to $725,000. Three other homes are under contract or pending with list prices between $479,000 and $699,000.
Two properties sold this year with sale prices of $690,000 and $730,000.
According to our MLS system there are currently 5 homes for sale in Skyway Heights with prices ranging from $590,000 to $759,000. One property is Pending with a list price of $629,000 and one other property sold this year with a sale price of $650,000
www.beitzel.com enid@beitzel.com
There are currently 6 homes listed for sale in our MLS system for Austin Heights in Colorado Springs with prices ranging from $349,900 to $470,000. Two other properties are pending with list prices of $350,000 and $359,900. Eight properties have closed this year with prices ranging from $245,000 to $485,000. We have had a good year for sales in Austin Heights. What a great time to purchase a home!
I see it has been several weeks since I have written anything on my blog. I have been busy showing houses to about 6 different buyers! I love working with buyers and finding them the right home. Five of these buyers are under contract so things are going well. I will be back on the blog when time permits. Thank you for your patience.
From what I am reading the outlook for the economy appears to be improving gradually. Mortgage rates today are around 4.75%! Very nice! The economy seems to be experiencing moderate growth with low inflation so far. Housing starts also moved a bit higher. It appears there is a 2% growth since last November. The first time tax credit is still available but not for much longer unless they change the law.
According to our MLS system at PPAR in Colorado Springs there are currently 9 homes for sale in Top of Skyway with prices ranging from $479,000 to $1,995,000. One other property is under contract with a list price of $795,000. One property sold this year with a sale price of $690,000. Sales seem to be taking longer this year in Top of Skyway
According to our MLS system there are currently 6 homes for sale in Skyway Heights, Colorado Springs with prices ranging from $585,000 to $775,000. One property is Under Contract with a list price of $629,000 and one other property sold this year with a sale price of $650,000
If you have any questions send me an email. My email address is enid@beitzel.com
There are currently 4 homes listed for sale in our MLS system for Austin Heights in Colorado Springs with prices ranging from $386,000 to $485,000. One other property is pending with a list price of $350,000. Eight properties have closed this year with prices ranging from $245,000 to $485,000. We have had a good year for sales in Austin Heights. What a great time to purchase a home!
Purchasing a home is no doubt the biggest investment you will ever make. Homeownership has many benefits but also brings responsibility.
It is important that you have a steady income and steady employment history for at least 2 years. You must have a good credit history. It is important that you can not only make your house payment but also have extra for maintaining your home.
When purchasing a home you need to consider the changes it brings. You need your monthly payment to fit into a decent budget so you will not be cash poor and can afford to enjoy eating out or some sort of entertainment once in awhile. There are many sources for you to find out details on how to manage your income and expenses so you can live happily! Check out the website at www.freddiemac.com
Interest rates are still hovering around an all time low of 5%.
VA loan limit is $417,000
FHA loan limit in El Paso county for single family is $325,000
Time will be running out for first time home buyers to take advantage of the $8,000 tax credit. You have to close on your property by Nov. 30th and it is taking up to 45 days to close a loan so all interested buyers need to get a wiggle on or it will soon be too late.
According to our MLS system at PPAR in Colorado Springs there are currently 8 homes for sale in Top of Skyway with prices ranging from $525,000 to $1,995,000. One other property is under contract with a list price of $795,000
One property sold this year with a sale price of $690,000
According to our MLS system there are currently 8 homes for sale in Skyway Heights, Colorado Springs with prices ranging from $585,000 to $775,000. One property sold this year with a sale price of $650,000If you have any questions send me an email. My email address is enid@beitzel.com
There are currently 3 homes listed for sale in our MLS system for Austin Heights in Colorado Springs with prices ranging from $349,900 to $398,000. Two other properties are pending with list prices of $350,000 and $499,000. Seven properties have closed this year with prices ranging from $245,000 to $417,000. Now is a good time to buy a home in Austin Heights.
From what I have been reading it looks like there are signs of our home values rebounding in Colorado. The more expensive homes are still in a buyer’s market. However, homes under $400,000 are starting to move. A total of 873 homes sold in June in El Paso County. Median price was $194,700 and average days on the market was 89 days. June was a good month in the real estate world in El Paso County. Homeownership is the American dream and now is the time to get on with the show.
Interest rates are still hanging around 5% which is a grand interest rate.From what I am reading interest rates won’t stay this low too much longer.They do seem to go up and down a bit from day to day.This is the time to either purchase a home or do a refinance on your current loan.Have you checked your loan rate lately on your current mortgage?If it is over 6% I think it is a good time refinance.There are lots of good loan reps and many different types of loans.If you do not know who to call I can give you several ideas.Have a good day.
The associated Press did a study of 45 metro areas and found that over the last 3 years the difference between monthly rent payments and monthly mortgage payments on median-priced homes has plummeted. In some areas, the difference is less than $100 a month. Home buyers need to consider purchasing a home NOW while interest rates are low, the price of homes has dropped and the tax incentives that are available for the next couple months.
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