What happens when the tax credit goes away?

As you have heard the current Federal $8000 tax credit is just months from expiring. Most real estate agents commenting on the fact that 38% of the home buyers today are first time home buyers account this large percentage to the tax credit. So what happens when the credit goes away? Does the housing slump pummel to the ground? I would imagine that there will be a huge push at the end of June to get the loans closed and people in the property which will account for record numbers like we saw end of 2009 before the credit was extended. There are still so many people out there wanting to own a home that due to the lack of available credit have not been able to buy a home.
Above the $8000 credit (which I will say is a huge incentive), home ownership has tax benefits above and beyond any other benefit most of us can claim. Mortgage interest deductions in TX alone usually make the difference of a tax payer owing at the year end or getting a check back. So let's not forget that home ownership is still the American dream. It is a dream that is still very attainable with tax credits as well as subsidy incentives. If you are having trouble getting the home you deserve because credit standards are too strict Campaign 82 has a VERY effective credit program that is a third party service with over 15 years experience. If you are serious about buying a home please talk to us about your options as we differ from the rest. I do not care if your credit is too low now, if you are serious we will work together and get you where you need to be. Credit denial happened to me on my first home and no one was there to tell me what to do. In the end it took a lot of time and effort on my part but buying a home was the proudest moment of my life. I want to help, that is my promise.

Campaign 82 Real Estate's Subsidized Housing

Campaign 82 has recently partnered with a large developer who builds homes that qualify for the government subsidy programs. These programs are a unique opportunity individuals with low to median income to purchase a new home.

This program creates the option of qualifying for up to $40,000 dollars toward the purchase of this new home. Wouldn't it be great if the $40,000 dollar credit was forgiven? Well it is, if you purchase a home through this program and stay in the residence for 5 years you can forget about paying back that $40,000!!

We have 58 homes that qualify for this program located in Stafford AZ, and Willcox AZ. Contact us soon for more information. 520-413-1600

What's a subsidized loan? Subsidized loans are loans for which the borrower does not pay interest. Interest would normally be charged periodically according to the annual percentage rate (APR). With a subsidized loan the interest is paid by another party.

How do I qualify for a subsidized loans? Depending on the source of your loan, you'll need to see if you qualify. Some housing loans (like some first time home buyer loans) require that you live in a certain area and earn less than specified dollar amount.

Finding value in today's market

Many people are still very much in the market for a new home. I have a lot of buyers asking advice on getting "the deal" but before you set your sights for low balling a home builder I suggest you think about a few things.
Let's suppose you purchase a home from a builder today and offer something like $5,000 off sale price. Great, what a deal! But think about this... What happens when your neighbor gets $5,000 off your price? The $5k you just pocketed just cost you $10k. Builders who cut prices do not add stability! Buyer beware.
Also pay attention to the neighborhood. Is it in a community that financing is easily obtained? You do not want to be somewhere that is difficult to finance or you soon will be surrounded by renters.
How is the builders stability? Do they have cash or tons of inventory they cannot move? Most larger builders are publicly traded and this information is public. For instance DR Horton was very cash heavy end of Dec 09 when they announced over $2 Billion in the bank!

Campaign 82 offers credit assistance for those who need it!

We are please to announce that we have partnered with Credit Score Consultants based in Houston, TX with offices in Tulsa, OK to offer those clients that need credit assistance in buying a new home. With credit tightening and more and more people not able to meet the minimum credit score standards we noticed that much of the reason people do not qualify is due to past credit collections and items that can quickly and easily be corrected or removed from reports. This allows the borrowers credit score to reach the level it needs to be in order to qualify for a mortgage.
We are able to offer one of two programs depending on the clients budget:
1. For $49/mo and available to cancel at any time, Campaign 82 will issue the borrower their credit report and a blue print on how to self correct and update to the three bureaus to best improve their score. This process typically takes about 3-6 months depending on the level of credit repair.
2. For $495 flat fee ($250 down and $245 due in 30 days) buyers are offered a fast track repair done by a third party team of credit consultants. This company has been in the business of credit repair for 15 years and will blow you away with how capable of moving your score in the right direction in a matter of 60 days. For those that have good credit lines and just need an improved score to purchase a home quickly this is the way to go.

For more information on the credit programs please register or email us. We are always available by phone as well (214) 599-0063 direct, (918) 899-9299 cell.

The numbers game

So we have officially been in business (on our own) for about 17 days! From what we have learned from our previous company and especially now that our website registration and approval process is improving is that every morning we wake up to several new opportunities. Whether a client has simply filled out a registration or a full pre-approval we do know that most clients these days do not qualify for a home purchase. It is the 5-10% that do that we wait for and eventually close.
But what do we do with the other 90-95%? That was the topic of conversation in our living room last night.
Every day we are turning away 6-7 potential clients because they don't fit the mold. Whether it is a credit glitch, income issue, divorce, bankruptcy, foreclosure, etc the underlying point is that every one of these people would like to own a home. So why not help them? Today starts a new division of Campaign 82 where we help people correct their situation and eventually get into the home they deserve. I have spent a lifetime reviewing credit and know the ropes for sure. After all, I was denied my first home purchase because my own credit at 23 years old was terrible! Because I was in the business I spent the next 10 months cleaning it up so that I could purchase my 1st home at 24 years old via FHA financing. I was soooo proud! What about those that do not know how, don't know where to start? That is my commitment.

Olympics opening ceremony...

A few billion of us will be watching tonight and I am very excited to see the show! Wouldn't it be great if the next Olympics was opened by a James Cameron creation?