5 Costly Mistakes First Time Buyers Make
May 5, 2010 by John Abry · Leave a Comment
Buying a first home can be a daunting experience. Here are five common and costly mistakes that novice home buyers make: Ignoring the costs of having a low credit score. Lower-score borrowers pay thousands of dollars in increased interest rates over the life of the loan. Muddying the waters by shopping for other things before [...]
Only 1 Month Left to Qualify… Don’t Miss Out on the Tax Credit!
March 29, 2010 by John Abry · Leave a Comment
For those who might be on the fence about taking advantage of the federal home buyers tax credit: Last November, the government expanded and extended the new Homebuyers Tax Credit. According to the program, first-time homebuyers are eligible for a tax credit of 10% of the purchase price of the home, with a maximum credit [...]
Waiting to purchase a home could cost you thousands more this spring
February 1, 2010 by John Abry · Leave a Comment
Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA). Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit [...]
The opportunity of a lifetime is at hand – right now.
November 10, 2009 by John Abry · Leave a Comment
There May NEVER Be a Better Time To Buy a Home! Plenty of homes are available at affordable prices. Interest rates remain historically low. And to sweeten the pot, there’s the tax credit – up to $8,000 for qualified first-time buyers whose income is within IRS-established limits and up to $6,500 for most other homebuyers. [...]
Will the $8,000 federal tax credit be extended?
October 21, 2009 by John Abry · Leave a Comment
The market continues to plug along here in Chittenden County. According to the local MLS, as of October 1st, there were 952 homes listed for sale in Chittenden County which is only 33 more than the same time last year. The average time on market was 131 days. The absorption rate (which is the amount [...]
Pending home sales on a record roll
September 29, 2009 by John Abry · Leave a Comment
Contract activity for pending home sales nationally has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®.The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a [...]
09.05.09 – Here’s what’s happening in real estate in Chittenden County
September 2, 2009 by John Abry · Leave a Comment
The real estate market activity during this past month is bustling. Our office has had two near record months in a row. First time home buyers are still leading the charge in an attempt to capitalize on the $8,000 federal tax credit which is due to expire this November 30th. So, if you know of [...]
Housing numbers: What they mean to buyers and sellers
August 23, 2009 by John Abry · Leave a Comment
This article was part of a recent broadcast on Real Estate Today. Real Estate Today is a radio show that is produced by the National Association of REALTORS® and broadcast in markets nationwide. The show is designed to open doors for buyers and sellers with critical and credible information on the real estate market. It’s [...]
Revised Truth In Lending Act Disclosure requirements now in effect
August 18, 2009 by John Abry · Leave a Comment
Mortgage lenders will be subject to new disclosure requirements for mortgage loans under the Federal Reserve Board Truth in Lending Act (TILA) Regulation (Reg Z). The new requirements apply to loan applications filed on or after July 30, 2009 (about two months earlier than originally planned) are complex and compliance will be a challenge for [...]
Vermont continues to have by far the lowest foreclosure rate in US
July 17, 2009 by John Abry · Leave a Comment
Once again the Green Mountain State stands out from the crowd: “A national rating firm has once again ranked Vermont as having the lowest home foreclosure rate in the nation, based on second quarter and year-to-date numbers. Vermont has both the fewest foreclosures over the first half of the year and the lowest rate as [...]