In spite of the warnings of the so called "experts" who say "think twice before buying a home in today’s market", we say "now may be the best time to buy a home"...particularly if you’re thinking about one of Franciscus’ new offerings at Bridgewater in Isle of Wight. Here’s why…..not only are these homes award winning designs for every lifestyle imaginable, but they’re priced in the low $200’s with qualifying incomes starting as low as $44,000 per year. And that’s not the best part.
The number one obstacle for many people buying a home is getting enough cash together to make the down payment. Few buyers are aware of the number of non-profit organizations that specialize in giving home buyers free down payment money. There is no payback of the gift, ever, at any time. It’s free equity… yours to keep. Qualifying for these funds is easier then you might think. The U.S. Department of Housing & Urban Development (HUD) allows homebuyers to obtain down payment money from special NONPROFIT organizations.
If you’ve been thinking about buying a new home this year…..don’t delay much longer. Supply and demand often helps dictate the price of a new home and the incentives that builders and sellers are willing to use to attract buyers.
In an effort to reduce the oversupply of homes built for the burgeoning demand for housing in ’05 and ’06, builders in their “irrational exuberance” to stay ahead of the curve produced an inordinate number of new home starts in late ’06 and ’07. This oversupply of new homes in all price ranges put significant downward pressure for pricing. Builders faced with an abundance of unsold homes were forced to create new and exciting incentives to achieve sales goals.
Money has been tight this year and you were a month late on a couple of credit card payments. But that won’t hurt your credit score, because you are paying on time now, even if it’s just the minimum. You got a raise at work, which boosts your score. And you don’t plan to apply for new credit anytime soon, so your score doesn’t matter.
None of the above about credit scores is true, but if you believe any of it, you have company. A survey recently released by the Consumer Federation of America shows Americans, continue to harbor numerous such misconceptions.
Just about everybody in this country pays taxes, but nearly 70% of Americans pay less tax just by owning a home. In addition to making an investment in homeownership and watching their equity appreciate year after year, homeowners get the additional benefit of paying lower taxes.
As a homeowner you can deduct mortgage interest and property taxes when you file your yearly Income Tax Return and itemize those deductions. For example, if you purchase a Franciscus home for $250,000 with a 30-year mortgage at 6.25% interest and your real estate taxes are approximately $2,500 per year, your itemized deductions would be $15,625 for interest, plus the $2,500 for real estate taxes.
The number one obstacle for many people buying a home is getting enough cash together to make the down payment. Few buyers are aware of the number of non-profit organizations that specialize in giving home buyers free down payment money. There is no payback of the gift, ever, at any time. It’s free equity… yours to keep. Qualifying for these funds is easier then you might think. The U.S. Department of Housing & Urban Development (HUD) allows homebuyers to obtain down payment money from special NONPROFIT organizations.
If you’ve been thinking about buying a new home this year…..don’t delay much longer. Supply and demand often helps dictate the price of a new home and the incentives that builders and sellers are willing to use to attract buyers.
Money has been tight this year and you were a month late on a couple of credit card payments. But that won’t hurt your credit score, because you are paying on time now, even if it’s just the minimum. You got a raise at work, which boosts your score. And you don’t plan to apply for new credit anytime soon, so your score doesn’t matter.
Just about everybody in this country pays taxes, but nearly 70% of Americans pay less tax just by owning a home. In addition to making an investment in homeownership and watching their equity appreciate year after year, homeowners get the additional benefit of paying lower taxes.
