Williamsburg Real Estate and Homes Guide

I recently posted the following on a real estate website in answer to the question: Is buying a home in Williamsburg in the 23185 zipcode a good idea?

Written 6/24/2009:  Williamsburg VA:
I completely agree that lending practices were far to easy before the economic problems. Overcorrection and making it very, very difficult to get a mortgage [...]

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Your Tax-Free Profits
Significant tax reform legislation was signed into law with the Taxpayer Relief Act of 1997. This legislation replaced both the one-time $125,000 tax-free exclusion for homeowners aged 55 and older, and the “rollover” deferment of capital gains tax requiring the purchase of a replacement home of higher or equal cost within two years [...]

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Making Your Williamsburg Dream Home Come True
Is it time to initiate the purchase of your first Williamsburg home? You may be starting a family and outgrowing your small apartment. If the time seems right to seriously consider buying a house in Williamsburg, but you are afraid you don’t you have enough cash, don’t worry!   A [...]

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If you are a new home buyer or have not owned a home in the past 3 years, we have good news.
The Federal Government is offering an $8000 tax rebate to first time home buyers.  The 8K is received after closing and filing a form with the IRS.
Here’s where it gets good!  The Virginia Housing [...]

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Financial Help  From the Government… No Kidding
If you are a first time home buyer or you have not owned a home in the past 3 years, you probably qualify for the new $8000 tax rebate.
Here’s where it gets exciting.  In Virginia, the Virginia Housing Development Authority will let you use this as a downpayment on [...]

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HUD announce OK to monetize tax credit for first time home buyers to use as a downpayment.
Who qualifies: The biggest qualification is to be a first time home buyer or in this instance, someone who has not owned a home for the past three years.
http://www.hud.gov/news/release.cfm?content=pr09-072.cfm

From the HUD press release: Currently, borrowers applying for an FHA-insured [...]

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Financial Help
Home prices often cause many first-time buyers to seek help from their families for the down payment on a new home. If your parents are providing financial assistance for the purchase of a home, it is important that you have very clear agreements with them about the conditions under which their help will be [...]

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Time To Buy?
Buying a home for the first time is a major decision that requires planning and preparation. Becoming a homeowner is an exciting process with many complexities that real estate agents are trained to manage.
We are experienced in working with first-time buyers and are well-versed in the creative financing that can make dreams become [...]

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Heres a compilation of the local area tax information and budgets.  Property tax rates in the Williamsburg VA area appear to be holding for 2010.  Property is taxed at 100% of assessed (not appraised) value.  We do not have a separate school tax in the Williamsburg area.  The city of Williamsburg is it’s on entity.  [...]

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Financially Qualified
Even with stable home prices in Williamsburg and with interest rates at an all time low, many buyers are having to stretch financially to buy a home in Williamsburg. Most purchase agreements allow buyers to cancel the contract if they can’t qualify for a mortgage. If you are selling your home in Williamsburg [...]

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