$8000 First Time Home Buyer Extension and New $6500 “Move Up” Buyer Credit Details
November 6, 2009 by Katie Wethman · 1 Comment
It’s officially passed the House and Senate, and is now awaiting the President’s signature. Along with the extension of the $8000 First Time Buyer credit (now applies to any buyer under contract by April 30, 2010 and settling by June 30, 2010), there is now a new credit category: long-time residents of the same principal [...]
Northern VA and Washington, DC, Market Update – October 2009
October 30, 2009 by Katie Wethman · 5 Comments
NOTE> See updates to this post and final details on the first time home buyer credit here. Breaking news about the first time buyer credit! According to MSNBC, CNN and other sources, senate leaders have reached a tentative deal to extend and expand the $8000 home buyer tax credit. First timers will continue to qualify for the [...]
First Time Home Buyer Class – Scheduled in Arlington
September 1, 2009 by Katie Wethman · 2 Comments
Are you one of the estimated 53% of buyers in 2009 who will be buying for the first time? Then register for a free first time home buyer seminar at Arlington Central Library – see www.newhomebuyerclass.com for dates and more info.. As with our other classes, there is absolutely no cost or obligation to attend [...]
FHA to Allow $8000 Tax Credit to be Used as Downpayment
May 14, 2009 by Katie Wethman · 1 Comment
Update 5/29: HUD reversed course today on its initial plan to allow homebuyers to use the $8000 credit towards a downpayment. Instead, the credit may be “purchased” by FHA approved lenders (and credited at closing), to pay for additional closing costs. While this decision may be helpful, it won’t have the impact originally hoped for, [...]
First Time Home Buyer Class – Scheduled in Arlington
December 1, 2008 by Katie Wethman · Leave a Comment
Note> For the most recent schedule of dates for 2008 and 2009, please visit the First Time Home Buyer class page at my website. Classes will be held in Montgomery County, DC, Arlington, and elsewhere in Northern Virginia. The first classes of 2009 are now scheduled at Arlington County Library. As in the past, there [...]
$5000 Credit for DC First Time Home Buyers
October 17, 2008 by Katie Wethman · 2 Comments
Here’s a little known add-on to the 2008 Emergency Economic and Stabilization Act – aka the $700 billion bailout bill: the $5000 credit for DC first time home buyers. Area residents are familiar with this credit, and know that it had expired on Dec 31, 2007. Though typically every year it’s passed in a last [...]
First Time Home Buyer Class Now Scheduled in Montgomery County
September 25, 2008 by Katie Wethman · Leave a Comment
Note> For the most recent schedule of dates for 2008 and 2009, please visit the First Time Home Buyer class page at my website. Classes will be held in Montgomery County, DC, Arlington, and elsewhere in Northern Virginia. I am scheduled to teach another “First Time Home Buyer” seminar in Montgomery County on October 23. [...]
What Does the Fannie & Freddie Bailout Mean To Home Buyers?
September 8, 2008 by Katie Wethman · 1 Comment
Big news over the weekend and today is that the Federal government is ‘bailing out’ Fannie Mae and Freddie Mac, who lacked enough access to capital to keep the secondary mortgage market going. While buyers and sellers might initially think that this is bad news, it’s actually good, as evidenced by the 300 point market [...]
Client Testimonial
September 3, 2008 by Katie Wethman · Leave a Comment
I got the nicest letter today from a first time buyer client couple. It really made my day and I wanted to share it: Katie, We wanted to thank for your guidance and tremendous service during our condo buying process. Given the issues with FHA and our lender situation, this process had a lot more [...]
$7500 First Time Buyer Tax Credit Info
August 19, 2008 by Katie Wethman · 1 Comment
NOTE> This post applies only to homeowners who purchased in 2008. It’s official, the $7500 tax credit for first time buyers is now law. But how will it work? First of all, it’s not really a ‘credit’ per se — it’s an interest free loan. Nonetheless, as my first time buyer clients will tell you, [...]
