Buying Your First Home? Real Estate Agents Are Your Professional Guides. 

This November, after the Senate gave its final and fully supportive approval on the homebuyer tax credit extension, the House of Representatives voted to pass the legislation, sending the tax credit to President Obama whose final sign-off made it official.  

On November 13, 2009 the $8,000 first-time homebuyer credit, which was slated to expire on Nov. 30, 2009, will be extended for contracts signed before May 1, 2010 that close before July 1, 2010. First-time buyers, who are in the process of closing now, no longer have to worry about qualifying for the $8,000 tax credit if they do end up closing after the Nov.30 deadline. The new legislation also increases the income limit for couples with income up to $225,000, nearly $55,000 increase above the current level.  

Buyers who already own a home are also now eligible for a tax credit and the purchase of a home. The $6,500 maximum credit will be available to existing homeowners who have lived in their current residence for five of the prior eight years. The Legislation does set forth several provisions including, limiting eligibility for existing homeowners to homes worth $800,000 or less as well as making both credits available only for primary residences, not second homes or investment properties. The legislation will take effect December 1, 2009 and is not retroactive.  

The original first-time homebuyer's tax credit jump-started the housing market, driving home sales to the highest level in more than two years. The National Association of Realtors reported sales jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million units in September and are 9.2 percent higher than the 5.10 million-units pace in September of 2008. 

Source: rismedia.com and realestateeconomywatch.com 

Call me to see if you qualify- 203 313-2364 

You might be a bit afraid or intimidated by the whole process of buying your first home. As a Ridgefield, New Fairfield and Redding real estate expert, it's my job to guide you, from beginning to end. 

I will take the time to go through each and every step of the buying process. There are no dumb questions! 

Together, we will consider: 

- How much can you really afford? 

- How to qualify for a mortgage. 

- How much cash you should put down. 

- How to buy a home with little or nothing down. 

- What it takes to get approved for financing. What banks and other financial institutions are looking for. 

- How much your payments will be. 

- The tax advantages of buying. 

- Is renting or buying better for you? 

Tell me a bit about your situation below. I'll get right back to you. There is absolutely no charge, and I offer this to you with no strings attached. 

New to the home buying process? Tell me your concerns. Ask me questions. It's my job to help! There's no obligation, and I promise to get back to you quickly...