Current Home Lending Info Blog for Southern Nevada

With that said, I would like to send a reminder to those who are looking to take advantage of buying their first home in this tremendous market.  First, I would like to warn you that the market is changing from a buyer's to a seller's market.  I am witnessing this on a daily basis:  6-7 offers on some homes a few days on the market, some banks not willing to pay any closing cost even though a couple months ago they were giving 3 to 6% contribution.  Also, there are a lot of buyers coming to the table with cash and banks are working with them because of the time constraints put on the lending industry by recent guideline changes.

Also, keep in mind that as a first time home buyer, you are rewarded with an $8,000 TAX REBATE!!  That is money that is given to you, never required to be paid back.  However,  you need to close by November 30th, 2009 which means you need to be looking at homes NOW!!  You are looking at a 3 month period typically from when you first start looking for a home to closing on that home.  Call or email me if you have any questions!!