Best Realty's Lake Oroville Real Estate Blog » first time home buyer

Real Estate in Your Underwear

Mark Wisterman — Sun, 25 Jul 2010 04:48:00 +0000

Is this technology thing terrific or what.
Late last week I showed a home to a first time home buyer in the Lake Oroville real estate market. She liked the house enough to make an offer on it last Saturday evening through the online bidding process that the seller had established. No paper offer to write and no signature needed when submitting our bid. I simply discussed the offer terms with the buyer and from my desk and computer in my home office I entered the online bid.
Come Monday morning I received an e-mail, on my iPhone, at about 6:30 am informing me that the seller had responded to the offer by sending us a counter offer. I immediately called the buyer, discussed the counter offer and decided to submit a counter offer to the seller’s counter offer.
I submitted the new terms to the seller. After about an half hour I received another e-mail letting me know that the seller had accepted our new terms. I promptly called my buyer to inform her of the good news. After congratulating her and discussing the next steps in the process, I ended the call and hung up the phone.
It was then that it hit me.
I was sitting there in front of my computer screen, in the privacy of my home office, negotiating, and getting an acceptance on, a contract for my Lake Oroville real estate first time home buyer, IN MY UNDERWEAR!!!
Not only can you now do a lot of your real estate business from home, you can even do some of it in your tighty whities.
Ok, so now you think I am some kind of nut case. Heck, you might be right. It just happened to be one of those things that brought to mind how quickly this industry is evolving. Probably should not have gone off my medication!!!! LOL
Is this technology thing terrific or what.

Done Deal!!!!!!

Mark Wisterman — Wed, 07 Jul 2010 00:00:00 +0000

With the stroke of his pen the President of the United States has extended the deadline for first time home buyers to close their real estate transactions to September 30, 2010.
As with the old deadline, the extension only applies to home buyers that were under contract on or before April 30, 2010.
The extension will allow an estimated 180,000 first time home buyers, many of whom are in the Lake Oroville and Paradise real estate markets, whose loans got caught up in the backlog of files that lenders encountered by being less than prepared for the easily foreseeable crunch of home loans that resulted from buyers making a mad dash to beat the April 30th contract deadline.
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Tax Credit Deadline Bill Passed By Senate

Mark Wisterman — Thu, 01 Jul 2010 17:23:00 +0000

More good news for first-time homebuyers in the Lake Oroville, Paradise, and Chico California real estate markets who missed the June 30, 2010 deadline for closing the escrow on the purchase of their home.
The U.S. Sentate, last night, passed H.R. 5623 which, when signed by the President, will extend the deadline of closing a transaction that was under contract before May, 1, 2010. The new deadline will be September 30, 2010.
There is estimated to be 180,000 homebuyers that were unable to close their transactions by the June 30th deadline due to delays in getting their loans processed.
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Extension to Home Buyer Tax Credit Deadlines Resurrected by House of Representatives findwell.com)
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This Just In…..

Mark Wisterman — Wed, 30 Jun 2010 03:51:00 +0000

This just came across the wires and I wanted to make sure all of you in the Lake Oroville and Paradise Ca real estate markets hear it here first:
(June 29, 2010)—The United States House of Representatives has just passed HR 5623, the Homebuyer Assistance and Improvement Act of 2010, by a vote of 409-5. This bill extends the deadline for closing tax credit eligible transactions from June 30 to September 30, 2010. The bill moves to the Senate where the outcome is much less certain. I will continue to update you as the events move forward.
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No Time Extension for Tax Credit

Mark Wisterman — Fri, 25 Jun 2010 21:04:00 +0000

The United States Senate failed to pass a bill yesterday that, among other things, would have extended the home buyer tax credit until September 30, 2010.
The bill, H.R. 4123, included an amendment allowing home buyers the three-month extension on the tax credit. The extension, though, only applied to buyers who signed purchasing contracts before the original April 30 deadline.
With a backlog of transactions waiting to be processed, and in danger of not closing by the required deadline of June 30, 2010, the National Association of REALTORS®, as well a mortgage lender groups, had urged Congress to extend the time for escrow closings to the proposed September time frame.
Unfortunately for those of you in the Lake Oroville real estate market and the Paradise real estate market in danger of not closing your transaction on time, the provision for the extension was added as an aside to an unemployment bill that had become a political hot potato.
Why Congress can’t do the common sense thing, (oh wait, my English teacher told me never to use the words Congress and common sense in the same sentence), and vote on these unrelated issue separately is beyond me.
If you are in danger of missing this deadline you might want to turn up the heat on your loan officer, as loan processors and underwriters could really care less about your time frame
There is still an outside chance that this extension amendment and be added to another bill or simply be voted on on its own merits. My advise though is don’t assume anything.
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