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$18,000 in Tax Credits for a Limited Time!
Home Loans | Financing Category
March 31st, 2010
$18,000 in Tax Credits for a Limited Time!
California and Federal Tax Credits
Clovis home buyers have a brief window of opportunity to receive up to $18,000 in combined federal and California home-buyer tax credits. To take advantage of both tax credits, a first-time home-buyer must enter into a purchase contract for a principal residence before May 1, 2010, and close escrow between May 1, 2010 and June 30, 2010, inclusive. Buyers who are not first-time home-buyers may use the same time-frames to receive up to $16,500 in combined tax credits if they are long-time residents of their existing homes as permitted under federal law, and they purchase properties that have never been previously occupied as provided under California law. Read the rest of this entry »
March 25th, 2010
2010 CA Tax Credit
California Home Tax Credit
It’s official. Gov. Schwarzenegger signed the CA Home Tax Credit legislation into law. The CA
tax credit provides $200 million for home buyer tax credits ($100 million for qualified first-time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes). Click below to learn who qualifies for the $10,000 CA tax credit.
January 8th, 2010
New Round of California Tax Credits?
California Governor, Arnold Schwarzenegger has proposed a 2010 state tax credit of up to $10,000 as part of a job creation strategy. Under Gov. Schwarzenegger’s plan, more than 20,000 California home-buyers could get a $10,000 tax state credit if they buy a new or existing home in 2010. It goes now to state lawmakers for consideration.
While it’s unclear how fast legislators might act, in 2009, they handily approved $100 million in tax credits. The credits, claimed by 10,600 CA buyers from March – June were exceedingly popular and ran out faster than expected.
The CA housing tax credits – which would provide up to $3,333 off state taxes for each of the next 3 years – could be combined with up to an $8,000 federal tax credit for a total of up to $18,000 in tax credits. The Federal tax credit ends April 30.
Schwarzenegger’s administration officials said conditions of their proposal would be similar to last year’s credit. The last tax credit had no income limits, made all CA home buyers eligible but required that buyers live in the home to claim the tax credit (no investors could take advantage of the credits).
Clovis Tax Credits
Stay tuned for whether Gov. Schwarzenegger’s tax credit is approved. We’ll let you know right here at ClovisExperts.com if it is. In the meantime, click here to read the Top 5 reasons why 2010 is a great time to buy a Clovis home. If 2010 is the year you hope to sell or buy a Clovis home, let us know. Just fill out the form below and let us help you reach your Clovis home goals.
December 28th, 2009
Clovis Mortgages and Home Financing
Interest Rates Predicted to Reach 6%
It’s a great time to buy a Clovis, CA home. The medium home price of Clovis homes for sale is less than $250,000. Better yet, low Clovis interest rates make Clovis homes more affordable than ever. At least for now. According to many leading mortgage experts, low mortgages and affordable housing payments are about to go up dramatically.
According to the Wall Street Journal, the average 30-year fixed mortgage is 5.05%. Soon these historically low rates will begin creeping up, according to Greg McBride, chief economist at Bankrate. Echoing this steady increase in mortgage rates is Fraddie Mac leading economist, Amy Crew Cutts, who predicts interest rates will hit 6% by the end of 2010.
An increase in Clovis mortgage rates means Clovis homes will become less affordable and mortgage payments will skyrocket in the new year for Clovis home buyers. For example, a $300,000 Clovis home with a 6% interest rate is nearly $200 more a month than buying the same Clovis house today when rates are only at 5%.
In other words, low interest rates are just as important to consider when buying a Clovis home as the price of the home itself. Unfortunately, even Clovis home prices are expected to go up in 2010. According to the California Association of Realtors, California home prices will increase 3% in 2010.
Clovis Mortgage Rates
What are the signs that morgtage rates are about to go up? Mark Roth of BusinesWeek.com offers several tips of when interest rates are about to rise:
- Read the minutes of the Federal Reserve. The Federal Reserve will comment on its policy and whether inflation or a weaker economy is the greater risk. Rates tend to rise when inflation becomes more of a risk to the economy.
- Declining Unemployment. The unemployment rate is at 9.8%. If more Americans find jobs, an increase in interest rates is likely.
- Rising Discount Rate: The rate the Fed charges banks that borrow from it directly stands at .5%. If it rises, or the spread between it and the Federal Funds Rate widens, then mortgage rate increases won’t be far behind.
Clovis Mortgage Help
We don’t recommend anyone attempt trying to time the Clovis housing market or mortgage rates. No one can do that. What you can do, however, is lock in some of the best Clovis home prices and mortgage rates in history.
As the chart above indicates (click on it to make it larger), these rates won’t last forever. Why not take advantage of low mortgage rates now? Whether you’re new to mortgages or an old pro, Mortgage Planner, Kathy Tuck, can help you get the mortgage you need to buy your next home. Kathy can:
- Get you pre-approved for a home loan (the 1st step in buying a home). Get started NOW!
- Discuss the latest loan programs and lowest Clovis mortgage rates available.
- Answer all of your home Clovis mortgage or financing questions.
Kathy Tuck
iMortgage, Mortgage Planner
(559) 284-4020 (cell)
(866) 933-7856 (fax)
kathy.tuck@imortgage.com
Clovis Realtors
If you’re thinking about selling or buying a Clovis, CA home let us know. At Clovis Real Estate we’re Clovis Realtors who specialize in Clovis homes. Browse through our website where you can search all Clovis homes for sale and find a wealth of information on selling or buying a Clovis home. Why not become a client today and let the Clovis Experts help you buy your next Clovis home?
December 17th, 2009
Clovis Condos and FHA Loans
New FHA Guidelines for Clovis Condo Sales
Are you in the market to buy a Clovis Condo? There’s good news! New Federal Housing Administration (FHA) condo loan guidelines just took effect Dec. 8 and make it much easier to buy a Clovis condo.
Under previous guidelines, half the units in a new Clovis condo development had to be sold before the FHA would underwrite a mortgage in the complex. New guidelines cut the requirement to 30% and raise the ceiling on FHA loans in a development to 50% from 30%.
The new rules also allow Clovis condo associations to turn down an accepted offer if they agree that it’s too low — unless they will be violating the Fair Housing Act. This is expected to motivate many associations to seek FHA-approved status for their buildings.
Keep in mind that FHA loans can be a tough sell in some buildings. Unfortunately, FHA loans still have a stigma of being low-income. Some condo boards say, “No, we don’t do FHA.” They don’t understand that the FHA is the only game in town in this economic cycle since banks have all but cut lending to many home buyers.
- Learn more about buying a Clovis Condo here.
FREE List of Condos in Clovis For Sale
Get your FREE list of all of the Condos in Clovis for sale just by filling out the form below. Or if you prefer, give us a call or send us an email or text message if you’re thinking about selling or buying a Clovis condo. We’re Clovis Real Estate Experts and as Clovis Realtors we specialize in Clovis homes, including Clovis Condos. Everyday we help clients get exceptional value for their money and find the best neighborhood and Clovis Condo for the lowest price possible.
Keep in mind that there are a variety of Clovis condos for sale, including Clovis condo foreclosures. When you find something you like, just let us know and we’ll take you to go see it. However, make sure you’re pre-approved before you go look at any Condos since sellers won’t even consider an offer unless you have a “pre-approval letter.” You can get pre-approved or ask any question about how to finance a Condo here.
Contact us if you have any questions about Clovis Condos, or just complete the form below and a list of Clovis Condos for sale automatically will be emailed to you.
Happy-house hunting!
November 28th, 2009
Clovis Mortgage Companies
Clovis Mortgage Companies
The following Clovis mortgage companies are Fresno Association of Realtors affiliate mortgage companies:
• Bank of America Mortgage (559) 445-7750
• East Financial Services, Inc. (559) 435-5593
• Greatland Mortgage Corp. (559) 244-4250
• Guarantee Home Loans (559) 650-6000
• Little Business Wealth Advisors (559) 320-0272
• Mid Valley Financial Services (559) 226-8221
• Mission Hills Mortgage Bankers (559) 228-6678
• Neworld Home Loans (559) 224-5795
• O’Brien & Kelly Mortgage (559) 226-6600
• Resource Lenders, Inc. (559) 225-0500
• Royal Charter Mortgage (559) 436-4020
• Tri Counties Bank (559) 435-8090
• Wells Fargo Home Mortgage (559) 437-1177
Clovis Real Estate - The Clovis Home Experts. Visit us at ClovisExperts.com
November 16th, 2009
Clovis Real Estate
About Clovis Real Estate
Clovis Real Estate is a Clovis, CA owned company, specializing in Clovis homes. We’re Clovis Realtors who focus on one thing — Clovis properties and all of the services and assistance Clovis home buyers and sellers require to make their real estate transaction a success! Because we’re a Clovis realty located right in Clovis, we provide unparalleled expertise to our Clients.
Clovis Real Estate – Services We Offer
Clovis Real Estate offers a number of services for Clovis home buyers and Clovis sellers, including:
- Clovis real estate advice
- Clovis home values (wondering what your Clovis home is worth? Click here to find out)
- Clovis home searches (search EVERY Clovis home for sale on the MLS here)
- Clovis home searches from your cell phone (try our new cell phone app!)
- Looking for Clovis foreclosures? Get a FREE list here
- Search Clovis homes near any Clovis elementary, middle, or high school (click here)
- Clovis relocation services – moving to Clovis or relocating to Clovis – click here
- Clovis real estate news (see an example here)
- Clovis real estate market reports (click here to see an example)
- Automated searches – get new Clovis listings sent directly to your email box (sign-up here)
- Special Clovis home tours (click here to see an example)
- New Clovis homes and Clovis builders assistance
- Clovis land or Clovis lot searches (click here)
- Clovis neighborhood searches – just let us know what neighborhood you want to live in and we’ll let you know as soon as a new listing comes on the market in that area.
- Clovis first-time home buyer assistance (click here)
- Clovis mortgage / home financing referrals (click here)
- Much, much more!
Clovis Real Estate — Client Benefits
If you’re looking to sell or buy a Clovis home, you’ve come to the right place. No one knows Clovis real estate like we do! Click here to learn about all of the benefits of being a Clovis Real Estate client.
Have a real estate question? We provide FREE Clovis real estate advice. Whatever your question or need may be, we’re here to help. All you have to do is ask. We even make that easy. You can email, call, or just send us a text message.
Email: info@ClovisExperts.com
Phone: 559-325-4545
Text Message: 559-325-4545
When you want to buy or sell Clovis property, go with the Clovis experts at ClovisExperts.com!
November 6th, 2009
$8,000 Tax Credit Extended!
Congress extends $8,000 Tax Credit to both Existing and Current Home Buyers
The Clovis real estate market received more good news. Yesterday, Congress passed new legislation to extend the home buyer tax credit to not just first-time buyers, but also existing homeowners. Today, the bill was signed by President Obama today. Here’s the breakdown of the provisions of the new tax credit and how it impacts Clovis home buyers. Read the rest of this entry »
November 4th, 2009
How to Tell When Mortgage Rates Will Rise
Wouldn’t it be nice to have crystal ball about now? You could tell whether the Clovis real market had hit bottom or still has some sinking to do and also whether Clovis mortgage rates are going to increase in the near future like some expect. While we may not have a crystal ball, we do know of common methods experts use to tell when Clovis mortgage rates are going to increase. Read the rest of this entry »
October 9th, 2009
Clovis Mortgage Rates
Experts Fear Interest Rates Will Rise
Low Clovis home prices and rock bottom interest rates are the driving factors of the Clovis real estate market. Now one of those factors may be coming to and end. Some experts predict that interest rates are about to go up. That could spell doom for the Clovis real estate market and low payments for Clovis home buyers. Read the rest of this entry »
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