1st HOME BUYER PROGRAMS OAKLAND, CA

Did you know that there are several programs to help 1st HOME BUYERS (any person that has not purchased a principal resident in the past 3 yrs).

Find out more on these programs contact me Belinda 510.684.5129 or info@belindabuchanan.com.

Also check the programs out on the web.

Cal-Plus with ZIP (Zero Interest Program)

California Housing Finance Agency

California Homebuyer

Down payment Assistance Program

Extra Credit Teacher Program

Homebuyer Grants –

 No Interest | Not Paid Back

CHF Platinum Grant

Please check these programs out, there are to many programs out here to help you purchase a home and…..

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Is Now A Good Time To Buy A Home…?

I was asked this question recently by a friend who had commented on some of the recent trends in foreclosure homes and distressed properties that have come on the market.  She wanted to know, “is it better to act now or wait until later to find and buy a home?”

 I am passionate about educating buyers and sharing with them the inside information I receive from working with banks that quickly want to find owners for foreclosure homes. 

Home Sales Are Increasing

The National Association of Realtors reported the highest increase in home sales in more than 2 years during the month of September when home sales jumped by more than 9%. They reported another big increase in home sales in October 2009 when sales grew more than 10% compared to September 2009.  If you compare October 2009 versus October 2008, home sales grew more than 20% in the western region of the country including California

Extended And New Government Finance Programs

The $8,000 tax credit for first time home buyers has just been extended past November 2009.  The government is incentivizing and encouraging people to buy homes and is offering financial savings.  On top of this the government has just added a new $6,500 credit even if you are not a first time home buyer.

Mortgage Rates Are Lower Than Ever Before But Won’t Last

The U.S. Federal Reserve Bank has helped push home loan costs down, boosting the affordability of housing.  30 year fixed mortgage rates are around 5.0% and adjustable rate mortgages can go as low as 4.6%.  Of course this is based on a person’s credit ratings.

Home Prices May Soon Start To Rise

Occurrences of several different people trying to buy the same house are happening more and more often.  This is called “Multiple Offers.”  I’ve heard this a lot from other brokers and agents at recent conferences that I’ve attended.  I’m also seeing this in the homes that I am selling for my clients.  When this occurs, buyers begin to attempt to “outbid” each other what they are offering to pay for a house, causing the price to rise.

Many people know that it can take at least several weeks to locate the right house for a client, manage the process of taking care of the paperwork required to purchase the home and finalize the transaction.  Houses that appear to be available today may not actually be available tomorrow.

I shared these observations and a few others with my friend and asked her the same question that she asked of me….Is Now A Good Time To Buy A Home?  She chuckled and said that based on these factors there are a lot of advantages to starting her search now. 

I agreed with her and pointed out that if she started now, it could very well be Feburary before everything is wrapped up and she is able move into her new home.  By then there could be many more people also looking to take advantage of the current state of the real estate market. 

 If any one has any questions similar to my friend, feel free to contact me at 510.684.5129.  I specialize in distressed home sales.

Happy Holidays, Belinda Buchanan, Realty World Complete Services

(author Derrick M Holt)