Archive for March, 2009
What is an REO property?
Q: What are REO properties? An REO stands for real estate owned by a bank usually by the bank or lender foreclosing on the home or property.
What is a short sale?
Q: What does it mean when a home is listed for sale as a short sale? Many homes listed for sale are listed as being subject to a short sale. A short sale contingency requires the lender or lenders of the home’s seller to agree to accept a payoff lower than the seller/borrower owes [...]
Is the $8,000 tax credit only for first time buyers?
Q: Is the first time homebuyer tax credit only for first time homebuyers? Yes, the $8,000 tax credit is for first time homebuyers only. A first time homebuyer being defined as someone who has not purchased a home in the past 3 years.
Buying selling a home
There are numerous resources available for anyone considering buying, selling a home. Resources include those offered by the government, lenders, inspection companies, builders, self help books and of course real estate agents. Your local real estate agent is your number one source for information that will help you make an informed decision prior to [...]