Here is an interesting article we came across on WSJ.com... “'Tis the season of giving. But if you're tired of the offerings at the mall, why not consider giving your children something grander, like the gift of a down payment to buy a home—or even a home itself? Uncle Sam encourages such generosity, at least within limits (the IRS site has details). You and your spouse are each allowed to give...
We have seen pending home sales activity remain strong- Calcagni has had 151 pending sales so far for the month of June. This shows a sustained uptrend, rising for four consecutive months with favorable housing affordability and the first-time buyer tax credit boosting activity. To learn more about the First-Time Buyer Credit, visit:...
Prior to legislation creating Buyer Representation, the adage ‘Buyer Beware’ was in full force. When a Buyer was shown a property by a real estate Agent, the Buyer may have assumed that the Agent was working for him; in fact, the Agent was looking out for the Seller’s interest. On June 1, 1997 Connecticut Real Estate Agency law changed to address this fundamental inadequacy of the existing...
Earlier this month I had a real estate counseling session with a young couple looking to purchase their first home and the term “PITI” came up in our conversation. We’ve all grown accustomed to asking our buyers to speak directly with a lender first to get “pre-qualified” for a mortgage and we’ve gotten away from having to explain this acronym, which stands for principal, interest, taxes and...
I am currently working with a wonderful couple who are first time buyers. They entered the Real Estate market thinking that they would quickly find their first home. What a surprise they had when they were out-bid on 6 different houses! . You might think this is because they "low balled" each offer they put in, and in fact they did on the first one, but they quickly realized that the homes for sale in...
If you've asked yourself lately, ”What can my country do for me?" ask no longer and call your Calcagni Associates REALTOR to make that home purchase you have been putting off. President Obama’s American Recovery and Investment Act signed into law on Feb 17, 2009 provided first time home buyers a unique opportunity to receive up to $8,000 in the form of a credit when purchasing a home between Jan 1 and...
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