Virginia Beach Real Estate

Buy & sell real estate in Chesapeake, Virginia Beach, Norfolk, Portsmouth, and Suffolk.

Suzi Noyes 757-724-1064 suzi@suziandpam.com

Pam Toth 757-724-8499 pam@suziandpam.com

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Rent or Buy???

Filed Under Buyer's Stuff, Market Watch
Feb 5th 2012
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&nbsp Eight of ten people are saying now is the right time to buy. But, is it really?? Yes! We just helped two first time home buyers purchase a home and their mortgage will LESS than rent. Plus, they will have the tax write off. AND, have equity built up in 2-5 years!!!  (more…)

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The federal government is reconsidering their involvement in the home mortgage process. They plan to still ‘guarantee’ certain mortgages. However, they appear to be redefining what they consider a ‘qualified purchaser’. They are discussing stricter lending guidelines in four different areas: The type of mortgage The minimum down payment The debt ratios of the buyer The FICO score of the purchaser Today, we want to look at #1. It appears that there is at least conversation about eliminating the 30 year fixed rate mortgage which has been a staple in this country’s housing industry for some time

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NAR, National Association of Realtors, provided us with the most commonly asked questions regarding changes to the Tax Credit. Question: Existing homeowner credit: Must the new house cost more than the old house? Answer: No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit. Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. I will go to settle

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