February 17, 2009

2009 First time homebuyer tax credit – what is it, how much is it, and how to get it

Its $15,000. No its $7,500. No its $8,000. It has to be repaid. No it doesn’t. Its available to all homebuyers. No the tax credit is only for first time homebuyers. Is this a 2009 version of Abbot and Costello’s Who’s on first, What’s on second, I don’t know’s on third? All this leads to […]

February 15, 2009

What’s the useful life of a home’s components?

If you are going to be a first time Spring Texas homebuyer, you will want to know how long you can expect a home’s components to last. Because when something breaks and needs to be replaced there is no landlord to call. The financial burden is all up to you to shoulder. According to a study performed […]

February 11, 2009

Buying your first home – Step 1: Rent vs Own?

This is the first post in a series designed to educate first time home buyers on the process of purchasing a home in Spring Texas. As a potential first time home buyer, you have probably been thinking about owning your own home for some time now. You may have already been on the real estate web sites searching for […]

February 10, 2009

Buying your first home – Step 2: Loan Pre-Approval

This is the second post in a series designed to educate first time home buyers on the process of purchasing a home in Spring Texas. Okay, you have determined that you are ready to own your own home, now what? The next step is to know your numbers. If you have always liked numbers, like […]

February 9, 2009

Buying your first home – Step 3: the Search

About 87% buyers start their home search on the Internet and for good reason too. With just a few clicks of the mouse, buyers can view listing information, watch virtual tours, pinpoint the home’s location on a map, and view multiple photos. And with numerous real estate web sites from which to choose from you just may have […]

February 7, 2009

Buying your first home – Step 4: Get a Buyer’s Agent

As a home buyer and especially as a first time home buyer you need someone who is looking out for your best interests and a buyer’s agent is just that someone. A buyer’s agent has a fiduciary responsibility to represent his buyer’s best interest including reasonable care, loyalty, and confidentiality. A buyer’s agent is different than a listing […]

February 5, 2009

Major changes in home inspections make for lengthier reports

On February 1, 2009, new state mandated changes for home inspections went into effect. Although the changes come at the detriment of trees as they will increase the length of the inspection reports, the additional reporting and classification change will result in more informed Spring Texas home buyers. Classification change: Previously home inspectors licensed by the State of […]

February 5, 2009

Buying your first home – Step 5: the offer

Now that you have found the ideal home, it is time to make an offer and close the deal. How much do you offer? – First you need to determine if the home is overpriced, priced right, or under-priced for the market. You should have a general idea of how the home’s pricing and value compares to the […]

February 5, 2009

when can you terminate your real estate contract texas

Buying your first home – Step 6: the Option Period

The Option Period – a defined length of time usually 7 to 10 calendar days from the effective date of the contract. The buyer pays the sellers a nominal fee usually $150 – $250 for the Option Period and in exchange the seller gives the buyer an unrestricted right to terminate the contract during the […]

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