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Pick Me! I Want to Be Your Portland Realtor

My title statement of this post may or may not be true.  We’re always looking for clients both through referrals and other sources of business but there’s a chance that you don’t want to work with me (or …

More on the $8000 First Time Buyer Credit

Here’s some more information on using the first time buyer credit at closing: Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, …

You Cannot use $8000 First Time Buyer Credit for Down

HUD announced this week that last week’s announcement was null and void.  Reported here and most outlets regarding real estate, it was thought that qualified first time buyers would be able to use the $8000 credit as a …

Use Your $8000 First Time Buyer Credit as Your Down Payment

***Update: No longer true.  New post 5/20/09. The US Department of Housing and Development has approved a plan which will allow qualified buyers to put their $8000 first time buyer credit towards their down payment.  It must be …

Do I Have to Pay the $8000 First Time Buyer Credit Back?

There are hundreds of forums outlining the $8000 First Time Buyer Credit.  I’ve been really careful not to give tax advice and have referred you directly to the IRS Form 9054 in my previous post regarding the tax …

Saturday Morning Portland Real Estate Update

When I picked up my copy of the Oregonian this morning, I was expecting my ritual dose of bad news. We’d spent the previous evening watching the Blazers nearly snap victory from the jaws of defeat so knew …

Announcing www.PDXBuyers.com

Regular readers have probably noticed fewer posts here over the last month.  I haven’t been idle but have been building a new website.  www.PDXBuyers.com is our newest site.  It has a couple of features that I believe are …

FHA Loans, Condos in Portland and the First Time Buyer Credit

Keeping in mind that everyone’s situation is different and qualifications vary from buyer to buyer but if my understanding of the First Time Buyer Credit and FHA financing is correct, the government will pay qualified buyers to buy …

Who is a First Time Buyer According to the IRS?

The Obama’s stimulus package has altered the the First Time Buyer Credit to be a true credit and not a loan that must be repaid.  The two images here show how the IRS defines who is and is …

Short Sales and First Time Buyers

Wikipedia describes a short sale as: A short sale occurs when the proceeds of a real estate sale fall short of the balance owed on the property.[1] In a short sale, the bank or mortgage lender agrees to …