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First Time Buyers'
Dos And Don'ts
If
you are a first time home buyer,
you have a lot to learn.
Working from a blank slate
you must build an understanding
of the housing market, determine
what you can afford, land a loan
and hone in on a home that's a
good fit for your lifestyle.
The transaction will
likely become your largest asset
ever so there's little room for
error.
It is a daunting task, but
you can ease your concerns if
you take the process
step-by-step, watching your
footing as you move along the
path toward the American Dream.
Below is a list of "Dos
and Don'ts" tohelp first
timers turn that stress into the
self-confidence you'll need to
move closer to your first home.
The list focuses on areas
first-timers typically stumble
over in their initial home
buying attempt. Knowing what you
could
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Housing
Numbers
Continue to Drop
The story just gets worse; higher gas prices,
weak equity markets,
inflationary pressures, and weak
housing demand.
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Taking The Real Estate Investment
Plunge
Just
like buying a home to live in, taking
the real estate investment plunge
requires taking stock of your financial
goals, planning and lifestyle before
taking the plunge.
Pretty much like buying any
property.
If you've got the time, the money
and the lifestyle that lends itself to
managing a real estate investment, you
are just about half way there.
However, both halves are pretty
big halves.
The National Real Estate Investors
Association says you've still got a lot
of work to do.
Here's what.
Buy your own home first.
Buying a home will not only put a roof
over your head, but also teach you the
true cost of property ownership beyond
the monthly mortgage payment; give you a
primer on financing; school you on how
location and changing market conditions
affect property values; give you the
angle on tax and other home-owning
benefits; help you learn about property
maintenance;
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Tax Rebate Uses For Buyers
What
should a smart home buyer do with that
fat federal tax rebate check?
Well, it's not that fat, but it
could come in handy for buyers before,
during and after the home buying
transaction.
The Economic Stimulus Act of 2008
includes, among other provisions, tax
rebates, bureaucratically dubbed
"economic stimulus payments."
Starting in May, the U.S. Treasury
Department will begin sending rebates to
taxpayers, who had $3,000 of income and
filed a 2007 tax return and have a valid
Social Security number. Eligible
taxpayers will receive up to $600
($1,200 for married couples). Parents
will receive an additional $300 for each
eligible child younger than 17.
If you are a retiree, disabled
veteran or low-wage worker who is
otherwise exempt from filing a tax
return, you must file a tax return this
year in order to receive a rebate.
The rebate -- both the basic
component and the additional funds for
qualifying children -- begins to phase
out for individuals with adjusted gross
incomes (AGI) over $75,000 and married
couples who file a joint return with AGI
over $150,000. The combined payment is
reduced by 5 percent of the income above
the AGI thresholds.
You can estimate what your tax
rebate take might be with the Economic
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Sell Your Home
for FREE
Sell Your Home on the Multiple
Listing Service (FMLS) and
Realtor.com for FREE!! Home
Buyers Receive up to 1.5% of the
Sale Price of the Home You Buy
Cash-Back at Closing.
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New Monthly
Feature: Forsyth County, North Fulton and West
Gwinnett Real Estate Report
If
you would like to receive and in-depth analysis
of the Forsyth County, North Fulton and West
Gwinnett real estate market, including an
analysis by price range (the numbers vary
significantly based on price range) call our
pre-recorded toll free order hotline at
877-411-9264 ID # 1625 or you can order it only
line at www.ATLMLSdata.com.
Daily News and Advice
Read about the events
shaping the Real Estate market today,
find current interest rates, or browse
the extensive library of advice and
how-to articles written by some of the
top experts in Real Estate. Updated each
weekday.
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