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Keyword: homebuyers

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  • S.F. increases down-payment loans to 1st-time home buyers

    03/17/2014 8:48:44 PM PDT · by Olog-hai · 21 replies
    San Francisco Chronicle ^ | 9:05 am, Monday, March 17, 2014 | John Coté
    San Francisco Mayor Ed Lee wants to help you buy your first home. So much so, in fact, that the city is now willing to lend certain first-time home buyers up to $200,000 toward the down payment on their first house or condominium in San Francisco. That’s real money, but in a city where the median sales price was $925,000 in February, is $200,000 enough to make a difference to low-income and middle-class residents being priced out of the city by the tech boom? […] The new limit, which goes into effect this month, will allow some home buyers to...
  • Prisoners cashed in on homebuyer tax credit

    06/24/2010 3:53:19 PM PDT · by Signalman · 6 replies
    CNNMoney ^ | 6/23/2010 | Aaron Smith
    NEW YORK ( -- More than 1,200 prison inmates, including 241 serving life sentences, defrauded the government of $9.1 million in tax credits reserved for first-time homebuyers, according to a Treasury Department report released Wednesday. Treasury's inspector general also found that thousands of people filed multiple claims or made claims outside the allotted time period. In all, more than $28 million was improperly doled out. The Internal Revenue Service program at issue is meant to stimulate the housing market by giving tax credits of as much as $8,000 to qualifying first-time home buyers. "Additional controls are necessary to address erroneous...
  • Houston Property Sales And Prices Maintain Third Straight Month In The Black

    12/16/2009 5:52:01 AM PST · by Patriot1259 · 5 replies · 308+ views ^ | 12/16/2009 | Staff
    HOUSTON — The effects of Hurricane Ike and simultaneous economic downturn affecting Houston’s real estate market in November 2008 continue to distort year-over-year comparisons which reflect yet another month of double-digit increases. However, longer-term analysis aimed at gleaning a more realistic view of market conditions shows November 2009 real estate activity to be comparable to that seen at the cusp of the recession, in the fall of 2007. November marked the third straight month in which property sales volume and pricing recorded gains. According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), November volume of...
  • Homebuyer Tax Credit to be Extended? Expanded?

    07/13/2009 10:46:27 PM PDT · by freespirited · 5 replies · 2,337+ views
    Phoenix Real Estate Guy ^ | 06/23/09 | Jay Thompson
    Will the $8,000 homebuyer tax credit be extended, or possibly even expanded? Maybe… Or maybe not. It’s politics after all. Currently there are FIVE bills flitting about Washington, D.C. that would, assuming they are signed into law, either extend or expand the currently existing $8,000 homebuyer tax credit due to end on December 1, 2009. Senator Johnny Isakson (R-GA) introduced Senate Bill S1230 – the Home Buyer Tax Credit Act of 2009 – on June 10. Senator Isakson created the original $15,000 homebuyer tax credit that morphed into the current $8,000 first-time homebuyer tax credit that became law when the...
  • Real estate agent gives guns to homebuyers

    12/12/2006 9:36:17 AM PST · by jdm · 27 replies · 1,077+ views
    Reuters via Yahoo! ^ | Dec 12, 2006
    HOUSTON (Reuters) - A Texas real estate agent looking to add more bang to her business is offering clients in law enforcement a free Glock pistol if they buy a home from her. Julie Upton, a Houston-area real estate agent, spurned traditional buyer incentives like free gasoline cards or home improvement store gift certificates. Instead, she placed an advertisement offering a pistol with the purchase of any home worth at least $150,000 in the city police department's monthly publication, "Badge & Gun." The free guns are only for those in law enforcement, said Upton, who is married to a police...
  • Home buyers back out of deals in record numbers

    11/13/2006 4:20:02 AM PST · by xtinct · 191 replies · 4,894+ views
    WSJ Online Real Estate ^ | 11-13-06 | June Fletcher and Ruth Simon
    A little over a year ago, buyers couldn't wait to sign contracts to purchase homes. Now, many can't wait to get out of them. With real-estate prices falling around the country and even pro-industry trade groups predicting further declines over the next year, buyers are backing away from deals in droves. At a semiannual housing forecast conference last week in Washington, D.C., economists reported that contract-cancellation rates for big builders were running around 40% -- about twice as high as last year's levels. Anecdotally, real-estate professionals say they are seeing a similar dynamic in existing-home sales.
  • CA: State offers life raft for struggling first-time home buyers

    04/01/2005 7:46:52 PM PST · by NormsRevenge · 1 replies · 870+ views
    Bakersfield Californian ^ | 4/1/05 | Jim Wasserman - AP
    SACRAMENTO (AP) - In a state where half the houses for sale cost almost $500,000 and low income means a $95,000 salary in Marin County, the state's affordable housing bank is throwing a new life raft to residents struggling to buy their first homes. That's a fixed-rate, 35-year loan - an alternative to the mortgage industry's conventional 30-year loan - offering buyers interest-only payments the first five years. Though more costly in the long run, it's aimed at those who can't initially afford a full payment, and fear waiting until the state's housing market rises still higher, state housing officials...
  • CA: Bill seeks some cut in property taxes / 14-fold increase in..exemption..first-time homebuyers

    01/12/2005 10:08:47 AM PST · by NormsRevenge · 27 replies · 674+ views
    OC Register ^ | 1/12/05 | Jeff Collins
    A UC Irvine grad hopes to put the dream of owning a home more within reach by cutting property taxes. Freshman Assemblywoman Audra Strickland proposes to give first-time homebuyers a 14-fold increase in the homeowners exemption. Other government officials say the idea may be too complicated and too costly to pass into law. Strickland, 30, who graduated from UC Irvine in 1996 with a political science degree, acknowledges that her bill still needs tinkering. But she believes the problems can be ironed out. "With the prices of houses skyrocketing, this was a way ... more people can own a home,"...
  • Congress Contemplates New Tax Break for Some Homeowners

    03/23/2004 3:15:57 PM PST · by Indy Pendance · 6 replies · 166+ views
    AP ^ | 3-23-04 | Mary Dalrymple
    WASHINGTON (AP) - Prospective homebuyers struggling to scrape together a down payment could get a little help from a tax deduction under consideration in Congress. The tax break would allow homeowners to deduct the cost of private mortgage insurance, charged by banks and lenders when the homebuyer cannot amass a down payment covering 20 percent of the purchase price. Homeowners can already claim a tax deduction for mortgage interest paid during the year. Homeownership advocates said the mortgage insurance benefit could help younger homebuyers and lower-income families afford a home. "For first-time homebuyers, getting that initial down payment is usually...