dc real estate: Dealing with the Fearful Buyer in this Crazy Market - 10/29/08 04:14 PM
Like many of you, I've been finding some buyers to be pulling back from their searches because of their perceptions of this financial environment, so when I received the email below, I developed an answer that I hope will encourage him.> Ed, thanks for all the information you're sending. That listing is > indeed great, and in normal circumstances I'd jump at it. But you saw > the market again this week. Crazy is no longer an apt description, as > crazy things are more predictable. And when Greenspan is shell-shocked, > well, who am I to be confident? Obviously this … (2 comments)

dc real estate: The $7,500 tax credit isn't really a credit - 07/31/08 04:41 PM
Michelle Singletary's column in today's Washington Post http://www.washingtonpost.com/wp-dyn/content/article/2008/07/30/AR2008073003013.html points out that the new $7,500 tax incentive in the new housing law is not really a credit, but is essentially a loan administered through the tax code.
The loan would be interest-free, but buyers would have to repay this "credit" to the government starting year two,. She writes:
"The terms would mean a yearly loan payment of $500 for 15 years, or about $41.67 a month.
You have to begin repaying the credit in the second tax year after you purchase the home. If you sell the house before you pay off the credit, the … (2 comments)

 
Ed Schneider, Washington DC Real Estate Specialist (Evers & Co. Real Estate Inc.) Rainmaker large

Ed Schneider

Washington DC Real Estate Specialist

Washington, DC

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Evers & Co. Real Estate Inc.

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