When Buying a House

Thou Shall Not

 

Quit your job, change jobs, or become self employed.

 

Buy a car or van. Even when shopping car dealers accessing your credit pushes it down.

 

Use charge cards for large purchases, or fall behind on payments.

 

Spend the cash you will need for closing (down payment, insurance, repairs, moving, etc)

 

Forget, omit, lie about, or conceal information needed to obtain financing.

 

Make large purchases for your new home (furniture, riding lawn mowers, outdoor grills, etc)

 

Allow credit inquiries to the credit agencies while shopping for anything.

 

Make transfers, deposits, withdrawals of large sums from accounts without talking to your lender.

 

Change accounts, open credit, close credit to add information to the credit bureaus.

 

Allow others to use your credit or co sign for another.

 

Questions

 

Investors: It is tax time. If you have held your property for 7 years or more, check the tax basis that your depreciation is calculated from. If the tax basis is just a small percentage of current market value your accountant may tell you a 1031 exchange could upgrade your portfolio. Remember you should be making money on your rental property three ways. Cash flow, appreciation, and depreciation allow you to have a good investment. When you can no longer raise the rents, nor count on the neighborhood appreciating it could be time to look at a 1031 exchange to allow for upgrading that portfolio and delaying the capital gains tax.

 

Sellers look at your house when you go out front to the mail box. Are there low hanging tree branches that as spring approaches will limit the view of the house? Are the fall leaves still in the gutters, laying over the top of the front bushes, heavy layer of salt on the porch, did the wind leave the shutters hanging askew. It may be winter but a mail box announcing entrance to a junk yard will not be wetting the buyer's appetite for your house.

 

Buyers have all heard of the hardship caused by the ARMs resetting and homeowners not being able to economically refinance their houses. However, when interest rates are low they have an attraction. The important thing is to know for sure that when they reset you will be able to refinance or sell at a profit.

 

5.04 Acre Residential Building Lot

Details   Photo Gallery   View Rooms    
                   
 
63390-Wright City (Boone Trail Estates) FOR SALE
$54,950 Adjusted Price


River City Real Estate
Dwight Puntigan
 Email Dwight


Work: 636-946-7273
Home: 636-441-2233
Cell: 636-219-6242
Fax: 800-689-6991
More Photos(15)
View south from NE corner


 

Quick Links        
           
Virtual Tour   Request More Info Email Listing More Photos(15)


 

Details
  Address: Paisley Plc. Type: Lots and Land Style: Lot / Land Suite: No Living Area: 219,542 square feet Year Built: 0
More Details		  
Description
  Acreage to build on in a private setting, yet close to Interstate 70. Front part of the lot is an open area with enough slope to build a walkout or an atrium style home as some of the neighbors have done. About halfway back on the lot is a small pond that the cattle used to use. The back part of the lot is overgrown with brush, but has some trees worth saving. The lot backs to Innsbrook, has a view of fairway and green. There are several lakes and ponds in the area.
More Description		  


 

 
Brokered and Advertised by River City Real Estate LID 2145621
 
Information is deemed to be correct but not guaranteed.

 

 

 

 

 

 

Text Box: Homes in St. Peters and St. Charles Mo. with Dwight Puntigan Welcome to Dwight Puntigan’s website. Thanks for stopping  by!  Make yourself at home, and “use” the website.  Try the different tabs and see what is available.  If you are looking for something that is not here call 636-219-6242 or email me at: dpuntiga@charter.net Your family's Professional REALTOR of Choice, providing Real Estate service to you, your parents, neighbors, and children in Saint Peters, St. Charles County, and the entire St. Louis metropolitan area.  When you plan on Buying, Selling or investing in Real Estate call me 636-219-6242 or write dpuntiga@charter.net  Topics for investors is available also on my website at http://stpetersrealestateinvestment.2trom.com/ or for seniors at http://seniorplanningdwightpuntigan.bravehost.com/  to search the MLS in any one of several languages FREE go to Search MLS Listings.  Do you need an MLS search for acreage with a stable, fencing, and pond try these searches at http://dwightpuntigan.point2agent.com/Popular_Searches/page_203587.html  ask me to put you on an update list for email that will update you to new listings, or just tell me to do it.  For information on down payment assistance http://stcharleshouses.tripod.com/Downpayment_Assist.html or to review the  entire home buying process read http://www.stcharleshousing.com/homebuyersguide.htm   NEWS State Of Missouri Offers $15k Downpayment Credit To Buy Foreclosures      AVAILABLE IMMEDIATLEY FOR A SHORT TIME ONLY! You must act VERY FAST.  The State has opened up $4.2Million to help get foreclosures off the market asap.  You do NOT need to be a first time homebuyer to qualify.  However if you are you still qualify for the $8000 tax credit on top of this $15k.  This could not possibly be a better time to buy.   A Few Details: No need to be first time homebuyer Still get $8000 tax credit if applicable Offered as forgivable 2nd loan (0% interest, no payments, and removed after owning home 5 years.) Will give up to 20% of the purchase price or $15k whichever is less Must be for a primary residence Must lock in your place immediately  Click Here For Info From the State of Missouri $8,000 Tax Credit incentive for first-time homebuyers   Innovative New Program For First-Time Homebuyers   MHDC is offering a new product to enable first-time homebuyers to take advantage of the $8,000 federal first-time homebuyer tax credit. This program is the first of its kind in the nation. The federal first-time homebuyer tax credit was created by Congress this summer to encourage new homebuyers to purchase homes and thereby stimulate housing markets. However, the federal tax credit has been largely ineffective. One of the primary reasons the federal credit hasn’t worked is that the homebuyer doesn’t receive the money until he receives his federal income tax refund – which may be several months after the home is purchased.   With over 30 years experience funding mortgages for first-time homebuyers, MHDC knows that the biggest barrier faced by first-time homebuyers is acquiring money for down payment and closing costs. As a result, MHDC created a program that allows homebuyers to receive the value of the tax credit at the time of closing.     How the Federal First-Time Homebuyer Tax Credit Works:   First-time homebuyers receive a tax credit worth 10% of their home purchase, up to $8,000. The credit is claimed on the homebuyer’s federal tax returns. The credit is refundable, which means that the homebuyer receives a refund for the amount of the credit minus any federal tax liability. Buyers must live in the house for at least three years, or they will be obligated to pay back the credit. How the MHDC Tax Credit Advance Loan Program Works:  MHDC makes a second mortgage to the homebuyer at the time of closing worth up to 6% of the home purchase price or a maximum of $6,750, which is used to cover down payment and closing costs. The tax credit advance loan is paired with MHDC financing for the first mortgage in the form of a safe 30 year, fixed rate mortgage (both mortgages must be applied for through a participating lender). The homebuyer then files for the federal tax credit and uses the credit refund to pay off the MHDC tax credit advance loan. If the tax credit advance loan is paid off by the designated deadline (no later than June, 2010), the homeowner pays no interest other than a modest servicing fee. If the tax credit advance loan is not paid in full by the deadline, principal and interest payments to repay the loan over 10 years begin automatically. The federal tax credit is set to expire December 1, 2009. When Buying a House Thou Shall Not   Quit your job, change jobs, or become self employed.   Buy a car or van. Even when shopping car dealers accessing your credit pushes it down.   Use charge cards for large purchases, or fall behind on payments.   Spend the cash you will need for closing (down payment, insurance, repairs, moving, etc)   Forget, omit, lie about, or conceal information needed to obtain financing.   Make large purchases for your new home (furniture, riding lawn mowers, outdoor grills, etc)   Allow credit inquiries to the credit agencies while shopping for anything.   Make transfers, deposits, withdrawals of large sums from accounts without talking to your lender.   Change accounts, open credit, close credit to add information to the credit bureaus.   Allow others to use your credit or co sign for another.   Questions   Investors: It is tax time. If you have held your property for 7 years or more, check the tax basis that your depreciation is calculated from. If the tax basis is just a small percentage of current market value your accountant may tell you a 1031 exchange could upgrade your portfolio. Remember you should be making money on your rental property three ways. Cash flow, appreciation, and depreciation allow you to have a good investment. When you can no longer raise the rents, nor count on the neighborhood appreciating it could be time to look at a 1031 exchange to allow for upgrading that portfolio and delaying the capital gains tax.   Sellers look at your house when you go out front to the mail box. Are there low hanging tree branches that as spring approaches will limit the view of the house? Are the fall leaves still in the gutters, laying over the top of the front bushes, heavy layer of salt on the porch, did the wind leave the shutters hanging askew. It may be winter but a mail box announcing entrance to a junk yard will not be wetting the buyer's appetite for your house.   Buyers have all heard of the hardship caused by the ARMs resetting and homeowners not being able to economically refinance their houses. However, when interest rates are low they have an attraction. The important thing is to know for sure that when they reset you will be able to refinance or sell at a profit.   5.04 Acre Residential Building Lot Details   Photo Gallery   View Rooms                           63390-Wright City (Boone Trail Estates) FOR SALE $54,950 Adjusted Price River City Real Estate Dwight Puntigan Email Dwight Work: 636-946-7273 Home: 636-441-2233 Cell: 636-219-6242 Fax: 800-689-6991 More Photos(15) View south from NE corner   Quick Links                     Virtual Tour   Request More Info Email Listing More Photos(15)   Details   Address: Paisley Plc. Type: Lots and Land Style: Lot / Land Suite: No Living Area: 219,542 square feet Year Built: 0 More Details   Description   Acreage to build on in a private setting, yet close to Interstate 70. Front part of the lot is an open area with enough slope to build a walkout or an atrium style home as some of the neighbors have done. About halfway back on the lot is a small pond that the cattle used to use. The back part of the lot is overgrown with brush, but has some trees worth saving. The lot backs to Innsbrook, has a view of fairway and green. There are several lakes and ponds in the area. More Description       Brokered and Advertised by River City Real Estate LID 2145621   Information is deemed to be correct but not guaranteed.            

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Dwight Puntigan
Your Professional REALTOR of CHOICE
River City Real Estate
1000 Country Club Drive
St. Charles, Mo. 63303
Phone: 636-946-7273 FAX: 800-689-6991 Cell: 636-219-6242

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