http://westbankliving.com/real-estate-talk/are-you-ready-to-be-a-home-owner/ New Orleans West Bank | Life, Fun and Real Estate on the West Bank Thu, 17 May 2012 17:02:27 +0000 hourly 1 http://wordpress.org/?v=3.3.2 http://westbankliving.com/real-estate-talk/are-you-ready-to-be-a-home-owner/#comment-1376 What West Bank Home Buyers and Sellers Need to Know About the New FHA Guidelines : West Bank Living | New Orleans West Bank Real Estate Blog Fri, 22 Jan 2010 22:21:28 +0000 http://westbankliving.com/?p=5988#comment-1376 [...] Now, this does not mean that none of the sales would have taken place under the new guidelines.  There were many that were just over the 3% threshold that I’m sure would have still closed if the new rules were in place.  However, there were a substantial number of buyers who appeared to get almost all of the money needed to close (except the down payment) in the form of seller assistance.  These are the buyers that may be pushed out of the market in 2010 as they will be forced to save longer and have more of their own cash invested in their home purchase.  Don’t get me wrong…I don’t think that having more of a financial stake in a home purchase is a bad thing, as it tends to result in buyers who are truly ready to be home owners. [...] [...] Now, this does not mean that none of the sales would have taken place under the new guidelines.  There were many that were just over the 3% threshold that I’m sure would have still closed if the new rules were in place.  However, there were a substantial number of buyers who appeared to get almost all of the money needed to close (except the down payment) in the form of seller assistance.  These are the buyers that may be pushed out of the market in 2010 as they will be forced to save longer and have more of their own cash invested in their home purchase.  Don’t get me wrong…I don’t think that having more of a financial stake in a home purchase is a bad thing, as it tends to result in buyers who are truly ready to be home owners. [...]

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