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Wyatt Olsen's Advice

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Wyatt Olsen wrote:

Does the government really think we are this stupid?

The other advantage of the $7,500 tax credit for first time buyers is that it takes a lot of risk out of buying in a potentially declining market. In two years if the buyer still has no equity and they need to sell, they don't have to pay the tax credit back. The government is offering a $7,500 cushion to encourage buying now rather than later.
July 30 2008

Would $8,000 make first time home buyers buy now?

I already have purchased a few homes, so won't qualify for a first time buyer tax credit. But, the senate is apparently proposing that a $7,000 credit be offered to anyone who purchases a foreclosure home in the next year. If that were the case, I would totally look into moving and buying a foreclosure property as my primary residence...
July 23 2008

A lot of talk about the bottom

If people don't start buying, then the bottom won't hit. It depends a lot on consumer confidence.
May 29 2008

lowball offers???

20% less is way to low for a house only on the market 30 days. If it is really overpriced by 20%, then yeah, low ball it. If it actually is already a good price you shouldn't offer that low unless the property has been on the market for a long time.You'll also want to check and see what the current owners owe. If they owe more than that would net them, they won't even consider.
May 06 2008