FHA says, ‘enough is enough’ and is taking charge of policy in order to curtail another recession. The internet is buzzing with the new FHA regulations that are sure to have an impact on the Boston Real Estate Market.

The tax season is knocking at the door. You should know the tax breaks so that you would be able to receive it’s benefits. You may get some extra tax breaks if you’ve bought a new home, purchased a car or if you’ve a college student in your family.

Many first time home buyers call me up everyday with no idea of where to start the home buying process. Some of these buyers have saved up during boom times and bring all cash to the table, but others are buying by using finance options.

If this fee isn’t taken into consideration at the start of the process things can get very sticky and unravel days before closing. In order to make sure the status of the HOA fee will not harm the short sale process the association should be contacted. Think of the HOA as a ‘third lien’ on the property.

The Mortgage Disclosure Improvement Act has come into force upon the Quincy real estate markets. The days when loans could be given without verification are over. These new lending practices will make buying Quincy homes even harder. However, with the help of a good real estate agent these new obstacles can be easily overcome.

The current Quincy and Brookline markets are difficult right now for FHA buyers. If you plan on asking for more then 3% closing costs from the seller in a short sale transaction you are better off going with an REO. The short pay lenders won’t approve anything above 3%. Quincy real estate agents are becoming aware of this as more and more Quincy short sales are being pursued.

The Quincy and Brookline real estate markets are still seeing multiple offers on 200k and less homes. A recent office listing on a 300k Quincy home solicited over 7 ‘qualified’ offers.

Buying a home in Quincy is a huge decision. It’s one of the most important decisions a person can make. Without careful steps and professional advice the process can go from smooth to stressful. In order to make the home buying experience fun instead of stressful it’s important to have an idea of what is going to be expected of you.

Are you experienced with Short Sales? In today’s Quincy real estate market it’s essential that your real estate agent to well versed in the short sale/pay market. Since Obama’s administration has implemented so many programs that promote foreclosure avoidence the local Quincy real estate market can definitely expect more short sales in 2010.

With prices at an all time low in Quincy a new breed of buyers are developing. These buyers come to the negotiating table fully equipped to buy a home. It’s surprising to see entry level McDonald’s employees enter the buying pool now.