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Blog Archives

Category: Buying
Fannie Mae Closing Cost Assistance Has Been Extended

Fannie Mae is extending the 3.5% incentive for homebuyers who purchase and close on a Fannie Mae-owned home by June 30, 2010 (originally May 1, 2010).  Buyers purchasing properties listed on HomePath.com will continue to be offered an incentive of up to 3.5% of the final sales price to be used towards one of the following:

  • Closing costs
  • The purchase of new Whirlpool® appliances
  • A mix of closing costs and appliances, at the buyer’s discretion, up to the maximum 3.5%.

Eligibility

To be eligible for this incentive:

  • Property sale must close on or before June 30, 2010
  • Buyer must be an owner-occupant (second homes are eligible as long as they are owner-occupied) — investors are excluded 

For details, go to Fannie Mae’s HomePath web site: http://www.fanniemae.com/homepath/incentive/index.jhtml

If you have questions, need help in locating, or would like to tour a Fannie Mae home, please contact us.

 
Going Tankless For The Water Heater?

According to the Energy Star web site, the typical family can save 30% or more on gas bills by using qualified tankless water heaters as compared to a standard gas burner storage heater.  So what is a tankless water heater?  As the name suggests, there’s no storage tank for the water.  The water is heated instantly only when the tap is turned on instead of always heating a tank full of water.  Tankless water heaters take up considerably less space than traditional water heaters and the temperature can be adjusted by means of a digital controller that can be installed anywhere in the house.  Of course, another obvious benefit is not having to wait for a tank to fill and water to heat if all of the hot water is used.

So should you replace your current water heater with a tankless one?  Maybe not.  You should compare the extra cost of the system over a traditional water heater versus the expected savings.  If your current water heater needs to be replaced and you intend to own the home for a longer period of time, then it may make sense to go tankless.  Then again, the additional benefits may convince to replace sooner instead of later.

For more information, check out the following:

 
National Homebuilder Buys 88 Lots In Craig Ranch

K. Hovnanian Homes announced on January 29, 2010 that it has purchased 88 lots in The Villas at Craig Ranch subdivision in McKinney, TX and will begin offering seven new floor plans created specifically for Craig Ranch (five of the plans will be single story). 

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