News Byte:
"Coulda, Woulda, Shoulda"
So long, farewell to the Home Buyer Tax Credit... but it's still a great time to buy a home... probably the best time ever! If you have a home under contract prior to April 30, 2010 then you may still be able to take advantage of the tax credit.
But if you're in the market for a home and you didn't get a chance to capitalize on the tax credit all is not lost. With property prices already low and staying relatively flat combined with truly historic low interest rates, a home buyer can capitalize on the best of both worlds. Rarely is there a time when both housing prices and interest rates are this low at the same time.
Buying a home now can save you 1000's as opposed to buying later. Why???? Because when interest rates move up a 1/2% to 1% that can increase your housing payment by $300 - $400 per month or more depending on your loan amount, not to mention the additional cost of housing when prices begin to move up. So take advantage of the market while you can instead of later saying, "Coulda, Woulda, Shoulda."
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Lease-to-Own Program
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This is a great new program designed to help renters become homeowners, and at the same time guarantees the rent and protects an owner's property while it is leased.
The Lease-To-Own program allows renters, who qualify, the opportunity to earn their way to home ownership during their lease period while the seller earns a financial return on investment from the cash flows generated by the tenant. It's a great "win-win" opportunity for participating sellers and qualified renters.
Sponsored by Community Empower, the program was founded in 2002. Some of the highlights of this program are:
· Renters are allowed time to obtain permanent financing while perfecting their credit
· Renters earn equity/appreciation in the home they are living in
· Renters receive rent credits when they buy the home
· Renters receive financial counseling to secure their future
· Sellers receive a full price offer with fewer days on the market
· Sellers are guaranteed the rent and provided with Property Management Services
· Sellers are insured against peril with a commercial insurance policy through Lloyds of London
· Sellers are secure in knowing their property is covered by a home warranty plan
· Sellers earn an investment return each month if the mortgage(s) are less than the sales price
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There are many homes available for lease/option on the market and sorting through them can take a lot of time.
The latest list of lease/option properties is shown in the panel to the right.
You can stop the slide show by clicking the button in the bottom center. Clicking the right or left button will take you to the next or previous home.
When you see a home you're interested in, clicking its picture will open a new window with details and more photos of that home.
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If you do not see a home you're interested in, or if you are a seller considering the lease-to-own option, please fill out the form below and an LTO Certified Agent will reply very shortly!
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Visit www.ForgetTheRent.com to learn more about Community Empower.
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