May 2009

New details released about the FHA $8,000 downpayment advance

New details have been announced that affect how the $8,000 first-time homebuyer tax credit can be used.

There has been a lot of miss information floating around about the $8,000 tax credit.  FHA loans require that a 3.5% downpayment be made by the borrower.  Speculation by many in the industry suggested that eligible first-time homebuyers would be able to use the $8,000 tax credit towards their downpayment. Unfortunately that is not true. First-time homebuyers will have to come up with the 3.5% downpayment on their own, then the tax credit can be applied to additional costs, including a higher downpayment, paying points to lower the mortgage rate, and paying closing costs. Lenders will treat the tax credit money as a second lien on the home until it’s paid back. This type of financial product may not be immediately available to buyers since lenders will need to create the internal programs to handle the process.

Nathan Cross, Realtor
The Naumann Group Real Estate, Inc
850.443.2125

Gov. Charlie Crist signs $8,000 homebuyer tax credit advance into law

Beginning July 1, 2009 First-time homebuyers who qualify for the federal $8,000 first-time homebuyers tax credit will be able to apply for downpayment assistance before they close on their home, and then repay the amount borrowed when they get their tax refund. The program will operate through local county housing administrators, though details are still being worked out.

New developments as of July 1st 2009

Florida created a program to help first-time homebuyers get their federal tax credit early, allowing them to use up to $8,000 toward a downpayment. The effective date for the program is July 1; however, it will probably be another few weeks before the funds are available.

While most first-time homebuyers qualify for the tax credit (given by the government as an income tax rebate regardless of tax owed), they once had to buy a home first, submit the info to the IRS through their tax return, and wait for the $8,000 rebate. To help these buyers get the money early enough to use it as a downpayment, the State of Florida created a program of bridge loans, the Florida Homebuyer Opportunity Program (FLHOP), where money can be borrowed from the state and then paid back after the new homeowner receives his tax credit.

Under a different federal program, the Federal Housing Administration (FHA) has done something similar, yet with a significant difference: The federal program applies to FHA loans only, and buyers must still come up with a minimum downpayment of 3.5 percent.

Nathan Cross, Realtor
The Naumann Group Real Estate, Inc
(850) 443.2125

Map featuring the locations of new constuction communities in Tallahassee

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A map showing the locations of new home communities in Tallahassee.  The new construction homes on this map are built by some of the premiere new home builders in the area, like BrackenChase Home Builders, Beazer Homes, Premier Builders and many more.

Feel free to contact me if you have any questions about new construction homes for sale in Tallahassee.

Are you looking for a Realtor to help you find a new home in Tallahassee? I would be honored to assist you with the purchase of your largest investment. Remember it cost's you nothing to work with a Realtor when you're buying real estate, so why not give me a call today?

Search the Tallahassee MLS
Nathan Cross, Realtor
The Naumann Group Real Estate, Inc
New Home Sales Specialist
(850) 443.2125
nathan@bluetomato.me

The Spruce by BrackenChase Home Builders in Pine Forest

This brand new home is built to the 2009 HOP specifications which means qualified buyers are eligible to receive 25% of the purchase price as an interest free loan to use towards their downpayment.  The Spruce is Energy Star Certified,  Read more about the Spruce in Pine Forest

Price cuts lead to sales for Beazer Homes

We have all seen real estate price reductions over the past 2 years or so, especially in the last 12 months.  But I have never seen such big discounts on new Beazer townhomes, as I have in the last few days.  On April 3rd I received an e-mail from one of the  Beazer New Home Sales Specialist.  In the e-mail, to my surprise, I was informed that Beazer was about to cut all prices on their existing homes & townhomes.

Real Estate price reductions are no surprise to me, the current market has been difficult to say the least.  Foreclosures are on the rise and it seems like there is a For Sale sign next to every other home you drive by.  Home sellers in this market have had to price their homes right in order to sell, the sellers that don’t are finding it difficult to get buyers to make an offer. Read more

The Acadia by Myddelton Parker in SummerCamp Beach

This new coastal home for sale is nestled a mere 130 steps from the edge of the Gulf of Mexico. Features 1,432 of open living space. This 3 bedroom and 2 bath cottage also features 332 SF of spacious porches.  All homes constructed by Myddelton Parker Builders in SummerCamp will follow the standards of the Florida Green Building Coalition (FGBC), and will be independently inspected and certified.

Are you looking for a Realtor to help you find a new home in Tallahassee? I would be honored to assist you with the purchase of your largest investment. Remember it cost's you nothing to work with a Realtor when you're buying real estate, so why not give me a call today?

Search the Tallahassee MLS
Nathan Cross, Realtor
The Naumann Group Real Estate, Inc
New Home Sales Specialist
(850) 443.2125
nathan@bluetomato.me

The Oakley in Pebble Brooke by BrackenChase Home Builders

Luxurious and Affordable in Pebble Brooke.  The Oakley recently won the Realtors Choice Award at the 2009 Parade of Homes, for single family home priced under $200,000.

Every BrackenChase Home in Pebble Brooke comes standard with custom upgrades like maple cabinets, GE appliance package, Moen faucets and more.

New BrackenChase Homes are also backed by a 10-year structural warranty. Pebble Brooke is conveniently located near the capital building, Southwood state offices, shopping, FSU, FAMU. Enjoy the Tallahassee lifestyle at Pebble Brooke.

The best value anywhere for New Construction homes in Tallahassee. Something for everyone, from first-time homebuyers to retirees. Other plans available.  Pictures shown are of the model, other homes like it are under construction and available for purchase.

View Larger Map

Are you looking for a Realtor to help you find a new home in Tallahassee? I would be honored to assist you with the purchase of your largest investment. Remember it cost's you nothing to work with a Realtor when you're buying real estate, so why not give me a call today?

Search the Tallahassee MLS
Nathan Cross, Realtor
The Naumann Group Real Estate, Inc
New Home Sales Specialist
(850) 443.2125
nathan@bluetomato.me

The Oakhill 3 by BrackenChase Home Builders in Hampton Creek

This new construction Townhome won the Silver Award at the 2009 Parade of Homes, for attached homes priced between $135,000 and $165,000.  It’s been sold already, but the builder has more lots in Hampton Creek that can be built on.  Have the opportunity to make all your own interior selections, and customize the interior the way you want.

Every new BrackenChase Townhome for sale in Hampton Creek comes standard with custom features like maple cabinets, screened in back porch, Moen faucets, stainless steel appliances and more.

New BrackenChase Townhomes are also backed by a 10-year structural warranty. Hampton Creek is conveniently located near  Parks & Recreation, Southwood state offices, shopping and schools.

Enjoy the Tallahassee lifestyle at Hampton Creek. The best value anywhere for New Construction homes. Something for everyone, from first time home buyers to retirees. Other plans available. Currently zoned for the new elementary school at SouthWood, Michael J. Conley.

For more information about this new townhome for sale in Tallahassee call:

View Larger Map

Are you looking for a Realtor to help you find a new home in Tallahassee? I would be honored to assist you with the purchase of your largest investment. Remember it cost's you nothing to work with a Realtor when you're buying real estate, so why not give me a call today?

Search the Tallahassee MLS
Nathan Cross, Realtor
The Naumann Group Real Estate, Inc
New Home Sales Specialist
(850) 443.2125
nathan@bluetomato.me

The Brooke by BrackenChase Home Builders in Pebble Brooke

The Brooke Townhome in Pebble Brooke is built to be energy efficient, and because of this the townhome is Energy Star Certified.  Custom features are standard like maple cabinets, stainless GE appliances, Moen faucets and more. New BrackenChase Homes are also backed by a 10-year structural warranty. Read more about this new townhome for sale in Pebble Brooke

The Cypress in Pebble Brooke Built by BrackenChase Home Builders

Every BrackenChase Home for sale in Pebble Brooke comes standard with custom upgrades like maple cabinets, stainless GE appliance package, Moen faucets and more. Read more about this new home in Pebble Brooke

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